Note 13 - Employee Benefit Plans

12 Months Ended

Dec. 31, 2015

Pension and Other Postretirement Benefits Disclosure [Text Block]

13.

Employee Benefit Plans

The Company has a 401(k) defined contribution profit sharing plan. Under the plan, US employees may contribute up to 12% of their gross earnings subject to certain limitations. The Company contributes an additional 0.5% of gross earnings for those employees contributing 1% of their gross earnings and contributes 1% of gross earnings for those employees contributing 2% to 12% of their gross earnings. The Company contributions become fully vested after five years. The amounts contributed to the plan by the Company were $37,000 and $38,000 for the years ended December 31, 2015 and 2014, respectively.

The Company does not have any other significant pension, profit sharing or similar plans established for its employees. The former Chief Executive Officer and President are each entitled to a bonus equal to 5% of the pre-tax profits of the Company, excluding bonus expense. The former Chief Executive Officer was entitled to 75% of the bonus amount as he retired at the end of September 2015. Executive bonuses of $146,000 and $438,000 were accrued as of December 31, 2015 and 2014, respectively.