Note 8 - Subsequent Events

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE

8.

SUBSEQUENT EVENTS

On

April 15, 2020,

we entered into a Promissory Note with Bank of America, N.A. (the “Promissory Note”), which provides for an unsecured loan of

$6.1

million pursuant to the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act and applicable regulations (the “CARES Act”) of which; funds were received on

April 22, 2020.

The Promissory Note has a term of

2

years with a

1%

per annum interest rate. Payments are deferred for

6

months from the date of the Promissory Note and we can apply for forgiveness of the Promissory Note after

60

days. Forgiveness of the Promissory Note will be determined in accordance with the provisions of the Cares Act and applicable regulations. Any principal and interest amounts outstanding after the determination of amounts forgiven will be repaid on a monthly basis.