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Note 16 - Related Party Transactions
12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

(16) RELATED PARTY TRANSACTIONS:

 

Since October 2016, we have paid a monthly fee of $5,000 to a non-profit organization of which C.E. Rick Strattan is the Executive Director, in consideration of consulting services provided to us by Mr. Strattan. Mr. Strattan is our founder, former Chief Executive Officer and one of our directors.

 

In June 2019, we engaged Joshua M. Fine, the son of our Chief Executive Officer, to serve as our Chief Financial Officer. Mr. Fine received an annual salary of $335,780 and $275,333 in 2022 and 2021, respectively. In addition, he was awarded a cash bonus of $134,312 and $75,000 in 2022 and 2021, respectively. Joshua Fine was awarded stock options with a value of $76,752 in 2022 and $134,288 in 2021 that vest over 4 years.

 

Rebecca A. Fine, the daughter of our Chief Executive Officer, provides executive assistant services. In 2022, Ms. Fine received a salary of $107,700 and a cash bonus of $16,155. In 2021, Ms. Fine received a salary of $90,000 and a cash bonus of $15,000.

 

Kevin J. Strattan, the son of C.E. Rick Strattan, has been employed by us since 2008, and since 2014 has been our Vice President, Finance – Compensation. His annual salary was $180,250 and $149,800 in 2022 and 2021, respectively. In addition, he received cash bonuses of $54,075 and $30,000 in 2022 and 2021, respectively. In 2022 and 2021 Mr. Strattan was also awarded stock options with a value of $41,509 and $72,787, respectively, that vest over 4 years.

 

Corey E. Strattan, the daughter-in-law of C.E. Rick Strattan, has been employed by us since 2011 as a documentation specialist and logistics coordinator, at an annual salary of $92,700 in 2022. In addition, she received a cash bonus of $13,905 in 2022. In 2021, Ms. Strattan received an annual salary of $90,000 and a cash bonus of $15,000.