Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 28, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Registrant Name | INTELLIGENT SYSTEMS CORP | ||
Entity Central Index Key | 0000320340 | ||
Trading Symbol | ins | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 8,928,885 | ||
Entity Public Float | $ 208,401,926 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock, $0.01 par value |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash | $ 37,956 | $ 26,415 |
Accounts receivable, net | 3,270 | 8,759 |
Other current assets | 1,263 | 905 |
Total current assets | 42,489 | 36,079 |
Investments | 1,921 | 3,081 |
Notes and interest receivable | 2,681 | 1,795 |
Property and equipment, net | 6,914 | 2,177 |
Other long-term assets | 3,020 | 1,108 |
Total assets | 57,025 | 44,240 |
Current liabilities: | ||
Accounts payable | 714 | 403 |
Deferred revenue, current portion | 1,322 | 689 |
Accrued payroll | 1,901 | 2,503 |
Accrued expenses | 321 | 153 |
Income tax payable | 954 | 1,100 |
Other current liabilities | 4,850 | 1,345 |
Total current liabilities | 10,062 | 6,193 |
Deferred revenue, net of current portion | 23 | |
Deferred tax liability | 818 | 275 |
Long-term lease obligation | 1,994 | 460 |
Total noncurrent liabilities | 2,812 | 758 |
Commitments and contingencies (Note 7) | ||
Stockholders’ equity: | ||
Common stock, $0.01 par value: Authorized shares - 20,000,000; Issued shares - 8,929,368 and 8,924,988 at December 31, 2020 and 2019, respectively; Outstanding shares - 8,885,797 and 8,924,988 at December 31, 2020 and 2019, respectively | 89 | 89 |
Additional paid-in capital | 15,836 | 15,450 |
Treasury stock, 43,571 and 0 shares as of December 31, 2020 and 2019, respectively, at cost | (1,639) | |
Accumulated other comprehensive loss | (140) | (94) |
Accumulated income | 30,005 | 21,844 |
Total stockholders’ equity | 44,151 | 37,289 |
Total liabilities and stockholders’ equity | $ 57,025 | $ 44,240 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, issued (in shares) | 8,929,368 | 8,924,988 |
Common stock, outstanding (in shares) | 8,885,797 | 8,924,988 |
Treasury stock, shares (in shares) | 43,571 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | ||
Total net revenue | $ 35,873 | $ 34,303 |
Cost of revenue | ||
Total cost of revenue | 15,427 | 11,759 |
Expenses | ||
Marketing | 132 | 151 |
General and administrative | 3,866 | 3,495 |
Research and development | 5,153 | 5,516 |
Income from operations | 11,295 | 13,382 |
Investment income (loss) | (1,044) | 34 |
Other income | 378 | 99 |
Income before income taxes | 10,629 | 13,515 |
Income taxes | 2,468 | 2,546 |
Net income | $ 8,161 | $ 10,969 |
Earnings per share: | ||
Basic (in dollars per share) | $ 0.91 | $ 1.24 |
Diluted (in dollars per share) | $ 0.91 | $ 1.22 |
Basic weighted average common shares outstanding (in shares) | 8,919,602 | 8,873,071 |
Diluted weighted average common shares outstanding (in shares) | 9,014,985 | 8,967,901 |
Service [Member] | ||
Revenue | ||
Total net revenue | $ 32,273 | $ 28,578 |
Cost of revenue | ||
Total cost of revenue | 15,427 | 11,759 |
Product [Member] | ||
Revenue | ||
Total net revenue | 3,600 | 5,725 |
Cost of revenue | ||
Total cost of revenue |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net income | $ 8,161 | $ 10,969 |
Other comprehensive income (loss): | ||
Foreign currency translation adjustments | (46) | (2) |
Comprehensive income | $ 8,115 | $ 10,967 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock Outstanding [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total | |
Balance (in shares) at Dec. 31, 2018 | 8,817,988 | |||||||
Balance at Dec. 31, 2018 | $ 88 | $ 15,050 | $ (92) | $ 10,875 | $ 25,921 | |||
Stock options exercised (in shares) | 107,000 | 107,000 | ||||||
Stock options exercised | 1 | 209 | $ 210 | |||||
Net income | 10,969 | 10,969 | ||||||
Stock compensation expense | 191 | 191 | ||||||
Foreign currency translation adjustment | (2) | (2) | ||||||
Balance (in shares) at Dec. 31, 2019 | 8,924,988 | |||||||
Balance at Dec. 31, 2019 | 89 | 15,450 | (94) | 21,844 | $ 37,289 | |||
Stock options exercised (in shares) | ||||||||
Net income | 8,161 | $ 8,161 | ||||||
Stock compensation expense | 386 | 386 | ||||||
Foreign currency translation adjustment | (46) | (46) | ||||||
Common stock repurchased* (in shares) | (43,571) | |||||||
Common stock repurchased* | [1] | (1,639) | (1,639) | |||||
Balance (in shares) at Dec. 31, 2020 | 8,885,797 | |||||||
Balance at Dec. 31, 2020 | $ 89 | $ 15,836 | $ (1,639) | $ (140) | $ 30,005 | $ 44,151 | ||
[1] | At December 31, 2020, approximately $3,361,000 was authorized for future repurchases of our common stock. |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) $ in Thousands | Dec. 31, 2020USD ($) |
Common stock authorized value | $ 3,361 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
OPERATING ACTIVITIES: | ||
Net income | $ 8,161 | $ 10,969 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 2,138 | 1,012 |
Stock-based compensation expense | 386 | 191 |
Gain on sale of investment | (125) | (34) |
Provision for deferred income taxes | 543 | 555 |
Non-cash investment loss | 1,009 | |
Non-cash interest income | (131) | (49) |
Equity in loss of affiliate company | 400 | 332 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 5,489 | (5,028) |
Other current assets | (358) | 224 |
Other long-term assets | 22 | 61 |
Accounts payable | 311 | 131 |
Accrued payroll | (602) | 1,358 |
Deferred revenue, current portion | 633 | (92) |
Accrued expenses | 168 | 82 |
Other current liabilities | 2,945 | 961 |
Deferred revenue, net of current portion | (23) | (88) |
Net cash provided by operating activities | 20,966 | 10,585 |
INVESTING ACTIVITIES: | ||
Purchases of property and equipment | (6,875) | (1,676) |
Advances on note and interest receivable | (1,000) | (2,000) |
Proceeds from sale of investments | 135 | 379 |
Net cash used in investing activities | (7,740) | (3,297) |
FINANCING ACTIVITIES: | ||
Sale of capital stock pursuant to exercise of option | 210 | |
Repurchases of common stock | (1,639) | |
Net cash (used in) provided by financing activities | (1,639) | 210 |
Effects of exchange rate changes on cash | (46) | (2) |
Net increase in cash | 11,541 | 7,496 |
Cash at beginning of year | 26,415 | 18,919 |
Cash at end of year | 37,956 | 26,415 |
Supplemental disclosure of cash flow information: | ||
Cash paid for income taxes | $ 1,826 | $ 1,159 |
Note 1 - Organization and Summa
Note 1 - Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization Consolidation Nature of Operations Use of Estimates Translation of Foreign Currencies Accounts Receivable and Allowance for Doubtful Accounts not Senior management reviews accounts receivable on a regular basis to determine if any receivables will potentially be uncollectible. We include any accounts receivable balances that are estimated to be uncollectible in our overall allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available to us, we believe our allowance for doubtful accounts as of December 31, 2020 4 Property and Equipment may may not The cost of each major class of property and equipment at December 31, 2020 2019 (in thousands) Useful life in years 2020 2019 Machinery and equipment 3 - 5 $ 11,793 $ 4,995 Furniture and fixtures 5 - 7 210 203 Building 39 306 301 12,309 5,499 Accumulated depreciation (5,395 ) (3,322 ) Property and equipment, net $ 6,914 $ 2,177 Depreciation expense was $2,138,000 $1,012,000 2020 2019, Investments 20 50 not 20 not At December 31, 2020 2019, $1,921,000 $3,081,000, Fair Value of Financial Instruments Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash, trade accounts and notes receivable. Our available cash is held in accounts managed by third may no no not A concentration of credit risk may We perform ongoing credit evaluations of customers worldwide and do not not Fair Value Measurements not GAAP establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable input be used when available. Observable inputs are based on data obtained from sources independent of the Company that market participants would use in pricing the asset or liability. Unobservable inputs are inputs that reflect the Company's assumptions about the estimates market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is measured in three • Level 1 not 1 • Level 2 third • Level 3 not 3 not In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our marketable securities investments are classified within level 1 The fair value of equity method investments has not no 3 Revenue Recognition Our software license arrangements generally fall into one four ● an initial contract with the customer to license certain software modules, to provide services to get the customer live on the software (such as training and customization) and to provide post contract support (“PCS”) for a specified period of time thereafter, ● purchase of additional licenses for new modules or for tier upgrades for a higher volume of licensed accounts, ● other optional standalone contracts, usually performed after the customer is live on the software, for services such as new interfaces or custom features requested by the customer, additional training and problem resolution not ● contracts for certain licensed software products that involve an initial fee plus recurring monthly fees during the contract life. At contract inception, we assess the products and services promised in our contracts with customers and identify a performance obligation for each promise to transfer to the customer a product or service (or bundle of products or services) that is distinct. A performance obligation is distinct if a product or service is separately identifiable from other items in the bundled package and if a customer can benefit from it on its own or with other resources that are readily available to the customer. To identify our performance obligations, we consider all of the products or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. We recognize revenue when or as we satisfy a performance obligation by transferring control of a product or service to a customer. Our revenue recognition policies for each of the situations described above are discussed below. Our software licenses generally have significant stand-alone functionality to the customer upon delivery and are considered to be functional intellectual property. Additionally, the purpose in granting these software licenses to a customer is typically to provide the customer a right to use our intellectual property. Our software licenses are generally considered distinct performance obligations, and revenue allocated to the software license is typically recognized at a point in time upon delivery of the license. Initial implementation fees do not We account for the PCS element contained in the initial contract based on relative standalone selling price, which is annual renewal fees for such services, and PCS is recognized ratably on a straight-line basis over the period specified in the contract as we generally satisfy these performance obligations evenly using a time-elapsed output method over the contract term given there is no Certain initial software contracts contain specified future service elements for scheduled completion following the implementation, and related recognition, of the initial license. In these instances, after the initial license recognition, where distinct future performance obligations are identified in the contract and we could reliably measure the completion of each identified performance obligation, we have recognized revenue at the time the individual performance obligation was completed. Purchases of additional licenses for tier upgrades or additional modules are generally recognized as license revenue in the period in which the purchase is made for perpetual licenses or ratably over the remaining contract term for non-perpetual licenses. Services provided under standalone contracts that are optional to the customer and are outside of the scope of the initial contract are single element services contracts. These standalone services contracts are not not may may For contracts for licensed software which include an initial fee plus recurring monthly fees for software usage, maintenance and support, we recognize the total fees ratably on a straight-line basis over the estimated life of the contract as services revenue. Revenues from processing services are typically volume- or activity-based depending on factors such as the number of accounts processed, number of accounts on the system, number of hours of services or computer resources used. For processing services which include an initial fee plus recurring monthly fees for services, we recognize the initial fees ratably on a straight-line basis over the estimated life of the contract as services revenue. The payment terms may Technology or service components from third third third Revenue is recorded net of applicable sales tax. Deferred Revenue not not 12 Cost of Revenue third Software Development Expense Warranty Costs three Legal Expense Research and Development Stock Based Compensation December 31, 2020 2019 $386,000 $191,000 December 31, 2020 2019, There were 4,380 December 31, 2020, 2020 12,000 December 31, 2019, 2011 No 2020. 2019 Year ended December 31, 2020 2019 Risk free interest rate N/A 2.58 % Expected life of option in years N/A 10 Expected dividend yield rate N/A 0 % Expected volatility N/A 51 % Under these assumptions, the weighted average fair value of options granted in 2019 $16.15 December 31, 2020 $235,000 first 2022. Income Taxes not not We record tax benefits for positions that we believe are more likely than not may Comprehensive Income (Loss) not Recent Accounting Pronouncements Not In June 2016, No. 2016 13, No. 2018 19, 326, No. 2019 04, No. 2019 05, 2019 10 2019 11 December 15, 2022, January 1, 2023. not In December 2019, 2019 12, 740 740 not December 15, 2020, first 2021 not In January 2020, 2020 01, 321 323 815 321, 323, 815 2020 01” 321, 323 815. 2020 01 December 15, 2020. first 2021 not We have considered all other recently issued accounting pronouncements and do not |
Note 2 - Revenue
Note 2 - Revenue | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 2. REVENUE Disaggregation of R evenue In the following table, revenue is disaggregated by type of revenue for the years ended December 31, 2020 2019: Year ended December 31, (in thousands) 20 20 201 9 License $ 3,600 $ 5,725 Professional services 20,610 19,203 Processing and maintenance 10,228 7,650 Third party 1,435 1,725 Total $ 35,873 $ 34,303 Foreign revenues are based on the location of the customer. Revenues from customers by geographic areas for the years ended December 31, 2020 2019 Year ended December 31, (in thousands) 20 20 201 9 European Union $ 1,009 $ 3,834 United States 34,864 30,469 Total $ 35,873 $ 34,303 |
Note 3 - Investments
Note 3 - Investments | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Cost-method Investments, Description [Text Block] | 3. INVESTMENTS Beginning in 2017, June 2019, 40 $400,000 $332,000 twelve December 31, 2020 2019, $1,921,000 not December 31, 2020, On December 30, 2016 $1,000,000 $500,000 January 4, 2017. June 30, 2018, $250,000 March 31, 2020, $0 $750,000, March 31, 2020. December 31, 2020, $3,335,000 As of December 31, 2019, 25.5% 2020, 10%. $230,000 fourth 2020, |
Note 4 - Accounts Receivable an
Note 4 - Accounts Receivable and Customer Concentrations | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. ACCOUNTS RECEIVABLE and customer concentrations At December 31, 2020 2019, $0 no 2020 2019. The following table indicates the percentage of consolidated revenue from continuing operations and year-end accounts receivable represented by each customer that represented more than 10 Revenue Accounts Receivable 20 20 201 9 20 20 201 9 Customer A 69 % 60 % 59 % 80 % Customer B 2 % 11 % 10 % 11 % Customer C 10 % 6 % 6 % 2 % |
Note 5 - Notes Receivable
Note 5 - Notes Receivable | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | 5. NOTES RECEIVABLE During the quarter ended September 30, 2017, $1,500,000 December 31, 2019. 2018, $550,000 three 3, 40 $1,000,000 6.0 June 2021. October 2019 January 2020, $500,000 $1,000,000, 6.0 October 2021 January 2022, December 2023 In the quarter ended March 31, 2018, $435,000 $235,000. 5.0 third ten 19 not March 31, 2020 $259,000, |
Note 6 - Income Taxes
Note 6 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 6. INCOME TAXES The income tax provision from operations consists of the following: Year ended December 31, (in thousands) 2020 2019 Current $ 1,925 $ 1,991 Deferred 543 555 Total $ 2,468 $ 2,546 The following is a reconciliation of estimated income taxes at the statutory rate from operations to estimated tax expense (benefit) as reported: Year ended December 31, 20 20 201 9 Statutory rate 21 % 21 % State and local taxes, net of federal benefit 4.7 3.7 Equity compensation 0.3 (5.7 ) Foreign tax credit (2.7 ) -- Other (0.1 ) (0.2 ) Effective rate 23.2 % 18.8 % Net deferred tax assets (liabilities) consist of the following at December 31: (in thousands) 20 20 201 9 Deferred tax (liabilities) assets: Unrealized loss on investments $ 788 $ 582 Foreign Tax Credit 124 -- Fixed assets (1,347 ) (370 ) Other 134 95 Total deferred tax (liability) asset (301 ) 307 Less valuation allowance (517 ) (582 ) Net deferred tax liability $ (818 ) $ (275 ) We had net deferred tax liabilities of approximately $0.8 $0.3 December 31, 2020 December 31, 2019, 2020 2019 $0.5 $0.6 not not not not No We have recognized tax benefits from all tax positions we have taken, and there has been no two no December 31, 2020 2019. no no We file a consolidated U.S. federal income tax return for all subsidiaries in which our ownership equals or exceeds 80%, no three |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | 7. COMMITMENTS AND CONTINGENCIES Leases We have noncancelable operating leases for offices and data centers expiring at various dates through March 2025. not Supplemental Information–Leases Supplemental information related to our right-of-use assets and related lease liabilities is as follows: Year Ended December 31, 2020 2019 Right-of-use asset, net and lease liabilities (in thousands) $ 2,889 $ 945 Cash paid for operating lease liabilities (in thousands) $ 1,033 $ 563 Weighted average remaining lease term (years) 3.5 1.1 Weighted average discount rate 3.8 % 5.5 % Maturities of our operating lease liabilities as of December 31, 2020 Operating Leases (In thousands) 2021 $ 983 2022 795 2023 718 2024 495 Thereafter 108 Total lease liabilities $ 3,099 Lease expense for the years ended December 31, 2020 2019 Year Ended December 31, (in thousands) 2020 2019 Cost of revenue $ 725 $ 230 General and administrative 214 210 Research and development 113 123 Total $ 1,052 $ 563 Legal Matters On or about July 9, 2019, No. 1:19 03949 January 23, 2019, May 29, 2019, September 26, 2019, November 18, 2019, May 23, 2014 May 29, 2019, 10 20 January 2, 2020, March 3, 2020, On or about February 14, 2020, two 14 2017 2018 April 20, 2020, two In re Intelligent Systems Corporation Stockholder Derivative Litigation No. 1:20 00832, June 19, 2020, August 24, 2020, September 8, 2020, December 23, 2020, |
Note 8 - Defined Contribution P
Note 8 - Defined Contribution Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 8. DEFINED CONTRIBUTION PLANS We maintain a 401 $46,000 $41,000 2020 2019, |
Note 9 - Related Party Transact
Note 9 - Related Party Transaction | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 9. RELATED PARTY TRANSACTION The lease on our headquarters and primary facility in Norcross, Georgia is held by ISC Properties, LLC, an entity controlled by our Chairman and Chief Executive Officer, J. Leland Strange. Mr. Strange holds a 100% $214,000 $210,000 December 31, 2020 2019, not |
Note 10 - Stock Compensation Pl
Note 10 - Stock Compensation Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 10. STOCK COMPENSATION PLANS We instituted the 2003 “2003 March 2003. 2003 450,000 3 2013, 2003 197,500 December 31, 2020 2019, no 25,000 2003 June 2015, 2015 “2015 750,000 2020 2019, no 2015 2020, no 2019 30,000 2015 2019, 10,000 2015 In August 2000, 200,000 5,000 4,000 50% first second 2011, 60,000 2011 “2011 May 2011, December 31, 2020 2019, no 12,000 2020 2019 2011 2020 2019, no 8,000 2020 2019, no 74,000 2011 2020, no 2019, 2011 6,000 In August 2020, 2020 “2020 2011 200,000 2020, 4,380 $150,000 three 2020 2020 $50,000 Stock options under all plans are granted at an exercise price equal to fair value on the date of grant and vest over 2 3 December 31, 2020, 1,356,500 947,320 282,680 102,500 24,000 not ten As of December 31, 2020, $235,000 first 2022. Stock option activity during the years ended December 31, 2020 2019 20 20 201 9 Options outstanding at January 1 126,500 207,500 Options cancelled - (16,000 ) Options exercised - (107,000 ) Options granted - 42,000 Options outstanding at December 31 126,500 126,500 Options available for grant at December 31 885,620 763,000 Options exercisable at December 31 102,500 84,500 Exercise price ranges per share: Granted N/A $19.99 - $39.11 Exercised N/A $0.69 - $7.80 Outstanding $1.52 - $39.11 $1.52 - $39.11 Weighted average exercise price per share: Granted - $ 25.45 Exercised - $ 1.97 Outstanding at December 31 $ 8.94 $ 8.94 Exercisable at December 31 $ 5.61 $ 2.21 The following tables summarize information about the stock options outstanding under the Company's option plans as of December 31, 2020. Options Outstanding: Range of Exercise Price Number Wgt. Avg. Contractual Wgt. Avg. Aggregate $1.52 - $1.72 67,500 0.5 $ 1.59 $ 2,600,325 $3.50 - $39.11 59,000 7.6 $ 17.35 $ 1,342,770 $1.52 - $39.11 126,500 3.8 $ 8.94 $ 3,943,095 Options Exercisable: Range of Exercise Price Number Wgt. Avg. Contractual Wgt. Avg. Aggregate $1.52 - $1.72 67,500 0.5 $ 1.59 $ 2,600,325 $3.50 - $39.11 35,000 7.3 $ 13.36 $ 936,370 $1.52 - $39.11 102,500 2.8 $ 5.61 $ 3,536,695 Aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price on the last trading day of the year ended December 31, 2020 December 31, 2020. |
Note 11 - Foreign Operations
Note 11 - Foreign Operations | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Additional Financial Information Disclosure [Text Block] | 11. FOREIGN OPERATIONS In 2003, 2006, October 2020, 2007 $156,000 $153,000 December 31, 2020 2019, At December 31, 2020 2019, $1,958,000 $1,226,000, $1,754,000 $1,267,000, no 1 |
Note 12 - Industry Segments
Note 12 - Industry Segments | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 12. INDUSTRY SEGMENTS Management considers our subsidiaries, consisting of CoreCard and its affiliate companies, to be one |
Note 13 - Earnings Per Share
Note 13 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 13. EARNINGS PER SHARE Basic earnings per share is computed by dividing net income (numerator) by the weighted average number of common shares outstanding (denominator) during the period and excludes the dilutive effect of stock options. Diluted earnings per share gives effect to all dilutive potential common shares outstanding during a period. In computing diluted income per share, the average stock price for the period is used in determining the number of shares assumed to be reacquired under the treasury stock method for the hypothetical exercise of stock options. The following tables represent required disclosure of the reconciliation of the income (loss) and the shares used in the basic and diluted income (loss) per share computation: Year ended December 31, (in thousands, except per share data) 20 20 201 9 Basic Net income $ 8,161 $ 10,969 Weighted average common shares outstanding 8,920 8,873 Earnings per share $ 0.91 $ 1.24 Diluted Net income $ 8,161 $ 10,969 Weighted average common shares outstanding 8,920 8,873 Effect of dilutive potential common shares: stock options 95 95 Total 9,015 8,968 Earnings per share $ 0.91 $ 1.22 At both December 31, 2020 2019, 95,000 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Consolidation |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Translation of Foreign Currencies |
Receivable [Policy Text Block] | Accounts Receivable and Allowance for Doubtful Accounts not Senior management reviews accounts receivable on a regular basis to determine if any receivables will potentially be uncollectible. We include any accounts receivable balances that are estimated to be uncollectible in our overall allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available to us, we believe our allowance for doubtful accounts as of December 31, 2020 4 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment may may not The cost of each major class of property and equipment at December 31, 2020 2019 (in thousands) Useful life in years 2020 2019 Machinery and equipment 3 - 5 $ 11,793 $ 4,995 Furniture and fixtures 5 - 7 210 203 Building 39 306 301 12,309 5,499 Accumulated depreciation (5,395 ) (3,322 ) Property and equipment, net $ 6,914 $ 2,177 Depreciation expense was $2,138,000 $1,012,000 2020 2019, |
Investment, Policy [Policy Text Block] | Investments 20 50 not 20 not At December 31, 2020 2019, $1,921,000 $3,081,000, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash, trade accounts and notes receivable. Our available cash is held in accounts managed by third may no no not A concentration of credit risk may We perform ongoing credit evaluations of customers worldwide and do not not |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements not GAAP establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable input be used when available. Observable inputs are based on data obtained from sources independent of the Company that market participants would use in pricing the asset or liability. Unobservable inputs are inputs that reflect the Company's assumptions about the estimates market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is measured in three • Level 1 not 1 • Level 2 third • Level 3 not 3 not In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our marketable securities investments are classified within level 1 The fair value of equity method investments has not no 3 |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Our software license arrangements generally fall into one four ● an initial contract with the customer to license certain software modules, to provide services to get the customer live on the software (such as training and customization) and to provide post contract support (“PCS”) for a specified period of time thereafter, ● purchase of additional licenses for new modules or for tier upgrades for a higher volume of licensed accounts, ● other optional standalone contracts, usually performed after the customer is live on the software, for services such as new interfaces or custom features requested by the customer, additional training and problem resolution not ● contracts for certain licensed software products that involve an initial fee plus recurring monthly fees during the contract life. At contract inception, we assess the products and services promised in our contracts with customers and identify a performance obligation for each promise to transfer to the customer a product or service (or bundle of products or services) that is distinct. A performance obligation is distinct if a product or service is separately identifiable from other items in the bundled package and if a customer can benefit from it on its own or with other resources that are readily available to the customer. To identify our performance obligations, we consider all of the products or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. We recognize revenue when or as we satisfy a performance obligation by transferring control of a product or service to a customer. Our revenue recognition policies for each of the situations described above are discussed below. Our software licenses generally have significant stand-alone functionality to the customer upon delivery and are considered to be functional intellectual property. Additionally, the purpose in granting these software licenses to a customer is typically to provide the customer a right to use our intellectual property. Our software licenses are generally considered distinct performance obligations, and revenue allocated to the software license is typically recognized at a point in time upon delivery of the license. Initial implementation fees do not We account for the PCS element contained in the initial contract based on relative standalone selling price, which is annual renewal fees for such services, and PCS is recognized ratably on a straight-line basis over the period specified in the contract as we generally satisfy these performance obligations evenly using a time-elapsed output method over the contract term given there is no Certain initial software contracts contain specified future service elements for scheduled completion following the implementation, and related recognition, of the initial license. In these instances, after the initial license recognition, where distinct future performance obligations are identified in the contract and we could reliably measure the completion of each identified performance obligation, we have recognized revenue at the time the individual performance obligation was completed. Purchases of additional licenses for tier upgrades or additional modules are generally recognized as license revenue in the period in which the purchase is made for perpetual licenses or ratably over the remaining contract term for non-perpetual licenses. Services provided under standalone contracts that are optional to the customer and are outside of the scope of the initial contract are single element services contracts. These standalone services contracts are not not may may For contracts for licensed software which include an initial fee plus recurring monthly fees for software usage, maintenance and support, we recognize the total fees ratably on a straight-line basis over the estimated life of the contract as services revenue. Revenues from processing services are typically volume- or activity-based depending on factors such as the number of accounts processed, number of accounts on the system, number of hours of services or computer resources used. For processing services which include an initial fee plus recurring monthly fees for services, we recognize the initial fees ratably on a straight-line basis over the estimated life of the contract as services revenue. The payment terms may Technology or service components from third third third Revenue is recorded net of applicable sales tax. Deferred Revenue not not 12 |
Cost of Goods and Service [Policy Text Block] | Cost of Revenue third |
Research, Development, and Computer Software, Policy [Policy Text Block] | Software Development Expense |
Standard Product Warranty, Policy [Policy Text Block] | Warranty Costs three |
Legal Costs, Policy [Policy Text Block] | Legal Expense |
Research and Development Expense, Policy [Policy Text Block] | Research and Development |
Share-based Payment Arrangement [Policy Text Block] | Stock Based Compensation December 31, 2020 2019 $386,000 $191,000 December 31, 2020 2019, There were 4,380 December 31, 2020, 2020 12,000 December 31, 2019, 2011 No 2020. 2019 Year ended December 31, 2020 2019 Risk free interest rate N/A 2.58 % Expected life of option in years N/A 10 Expected dividend yield rate N/A 0 % Expected volatility N/A 51 % Under these assumptions, the weighted average fair value of options granted in 2019 $16.15 December 31, 2020 $235,000 first 2022. |
Income Tax, Policy [Policy Text Block] | Income Taxes not not We record tax benefits for positions that we believe are more likely than not may |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income (Loss) not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Not In June 2016, No. 2016 13, No. 2018 19, 326, No. 2019 04, No. 2019 05, 2019 10 2019 11 December 15, 2022, January 1, 2023. not In December 2019, 2019 12, 740 740 not December 15, 2020, first 2021 not In January 2020, 2020 01, 321 323 815 321, 323, 815 2020 01” 321, 323 815. 2020 01 December 15, 2020. first 2021 not We have considered all other recently issued accounting pronouncements and do not |
Note 1 - Organization and Sum_2
Note 1 - Organization and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (in thousands) Useful life in years 2020 2019 Machinery and equipment 3 - 5 $ 11,793 $ 4,995 Furniture and fixtures 5 - 7 210 203 Building 39 306 301 12,309 5,499 Accumulated depreciation (5,395 ) (3,322 ) Property and equipment, net $ 6,914 $ 2,177 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year ended December 31, 2020 2019 Risk free interest rate N/A 2.58 % Expected life of option in years N/A 10 Expected dividend yield rate N/A 0 % Expected volatility N/A 51 % |
Note 2 - Revenue (Tables)
Note 2 - Revenue (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Year ended December 31, (in thousands) 20 20 201 9 License $ 3,600 $ 5,725 Professional services 20,610 19,203 Processing and maintenance 10,228 7,650 Third party 1,435 1,725 Total $ 35,873 $ 34,303 Year ended December 31, (in thousands) 20 20 201 9 European Union $ 1,009 $ 3,834 United States 34,864 30,469 Total $ 35,873 $ 34,303 |
Note 4 - Accounts Receivable _2
Note 4 - Accounts Receivable and Customer Concentrations (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Revenue Accounts Receivable 20 20 201 9 20 20 201 9 Customer A 69 % 60 % 59 % 80 % Customer B 2 % 11 % 10 % 11 % Customer C 10 % 6 % 6 % 2 % |
Note 6 - Income Taxes (Tables)
Note 6 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year ended December 31, (in thousands) 2020 2019 Current $ 1,925 $ 1,991 Deferred 543 555 Total $ 2,468 $ 2,546 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended December 31, 20 20 201 9 Statutory rate 21 % 21 % State and local taxes, net of federal benefit 4.7 3.7 Equity compensation 0.3 (5.7 ) Foreign tax credit (2.7 ) -- Other (0.1 ) (0.2 ) Effective rate 23.2 % 18.8 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (in thousands) 20 20 201 9 Deferred tax (liabilities) assets: Unrealized loss on investments $ 788 $ 582 Foreign Tax Credit 124 -- Fixed assets (1,347 ) (370 ) Other 134 95 Total deferred tax (liability) asset (301 ) 307 Less valuation allowance (517 ) (582 ) Net deferred tax liability $ (818 ) $ (275 ) |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Year Ended December 31, 2020 2019 Right-of-use asset, net and lease liabilities (in thousands) $ 2,889 $ 945 Cash paid for operating lease liabilities (in thousands) $ 1,033 $ 563 Weighted average remaining lease term (years) 3.5 1.1 Weighted average discount rate 3.8 % 5.5 % Year Ended December 31, (in thousands) 2020 2019 Cost of revenue $ 725 $ 230 General and administrative 214 210 Research and development 113 123 Total $ 1,052 $ 563 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Operating Leases (In thousands) 2021 $ 983 2022 795 2023 718 2024 495 Thereafter 108 Total lease liabilities $ 3,099 |
Note 10 - Stock Compensation _2
Note 10 - Stock Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | 20 20 201 9 Options outstanding at January 1 126,500 207,500 Options cancelled - (16,000 ) Options exercised - (107,000 ) Options granted - 42,000 Options outstanding at December 31 126,500 126,500 Options available for grant at December 31 885,620 763,000 Options exercisable at December 31 102,500 84,500 Exercise price ranges per share: Granted N/A $19.99 - $39.11 Exercised N/A $0.69 - $7.80 Outstanding $1.52 - $39.11 $1.52 - $39.11 Weighted average exercise price per share: Granted - $ 25.45 Exercised - $ 1.97 Outstanding at December 31 $ 8.94 $ 8.94 Exercisable at December 31 $ 5.61 $ 2.21 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Options Outstanding: Range of Exercise Price Number Wgt. Avg. Contractual Wgt. Avg. Aggregate $1.52 - $1.72 67,500 0.5 $ 1.59 $ 2,600,325 $3.50 - $39.11 59,000 7.6 $ 17.35 $ 1,342,770 $1.52 - $39.11 126,500 3.8 $ 8.94 $ 3,943,095 Options Exercisable: Range of Exercise Price Number Wgt. Avg. Contractual Wgt. Avg. Aggregate $1.52 - $1.72 67,500 0.5 $ 1.59 $ 2,600,325 $3.50 - $39.11 35,000 7.3 $ 13.36 $ 936,370 $1.52 - $39.11 102,500 2.8 $ 5.61 $ 3,536,695 |
Note 13 - Earnings Per Share (T
Note 13 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended December 31, (in thousands, except per share data) 20 20 201 9 Basic Net income $ 8,161 $ 10,969 Weighted average common shares outstanding 8,920 8,873 Earnings per share $ 0.91 $ 1.24 Diluted Net income $ 8,161 $ 10,969 Weighted average common shares outstanding 8,920 8,873 Effect of dilutive potential common shares: stock options 95 95 Total 9,015 8,968 Earnings per share $ 0.91 $ 1.22 |
Note 1 - Organization and Sum_3
Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | 216 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | |
Cost Method Investments | $ 1,921,000 | $ 3,081,000 | $ 1,921,000 |
Share-based Payment Arrangement, Expense | $ 386,000 | $ 191,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 42,000 | 1,356,500 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 16.15 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 235,000 | $ 235,000 | |
The 2020 Non-employee Director Stock Option Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period (in shares) | 4,380 | ||
The 2011 Non-employee Director Stock Option Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 12,000 | |
General and Administrative Expense [Member] | |||
Depreciation, Total | $ 2,138,000 | $ 1,012,000 |
Note 1 - Organization and Sum_4
Note 1 - Organization and Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment, Gross | $ 12,309 | $ 5,499 |
Accumulated depreciation | (5,395) | (3,322) |
Property and equipment, net | 6,914 | 2,177 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment, Gross | $ 11,793 | 4,995 |
Machinery and Equipment [Member] | Minimum [Member] | ||
Useful life (Year) | 3 years | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Useful life (Year) | 5 years | |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment, Gross | $ 210 | 203 |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Useful life (Year) | 5 years | |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Useful life (Year) | 7 years | |
Building [Member] | ||
Useful life (Year) | 39 years | |
Property, Plant and Equipment, Gross | $ 306 | $ 301 |
Note 1 - Organization and Sum_5
Note 1 - Organization and Summary of Significant Accounting Policies - Stock-based Compensation - Weighted Average Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Risk free interest rate | 2.58% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 10 years | 10 years |
Expected dividend yield rate | 0.00% | |
Expected volatility | 51.00% |
Note 2 - Revenue - Disaggregati
Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 35,873 | $ 34,303 |
European Union [Member] | ||
Revenue | 1,009 | 3,834 |
UNITED STATES | ||
Revenue | 34,864 | 30,469 |
License [Member] | ||
Revenue | 3,600 | 5,725 |
Professional Services [Member] | ||
Revenue | 20,610 | 19,203 |
Processing and Maintenance [Member] | ||
Revenue | 10,228 | 7,650 |
Third party [Member] | ||
Revenue | $ 1,435 | $ 1,725 |
Note 3 - Investments (Details T
Note 3 - Investments (Details Textual) - USD ($) | Dec. 30, 2016 | Mar. 31, 2020 | Jun. 30, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 |
Equity Method Investments | $ 0 | |||||
Cost-method Investments, Other than Temporary Impairment | $ 1,009,000 | |||||
Long-term Investments [Member] | ||||||
Equity Method Investments | 1,921,000 | |||||
Equity Method Investments [Member] | Investment Income (Expense) [Member] | ||||||
Gain (Loss) on Investments, Total | 400,000 | $ 332,000 | ||||
Privately-Held Identity and Professional Services Company With Ties to the FinTech Industry [Member] | ||||||
Equity Method Investment, Ownership Percentage | 40.00% | |||||
Investments, Unfunded Commitments | $ 1,000,000 | |||||
Investment, Unfunded Commitments, to Be Held in Escrow | $ 500,000 | |||||
Lumense Inc. [Member] | ||||||
Cost-method Investments, Other than Temporary Impairment | $ 750,000 | $ 250,000 | ||||
Lumense Inc. [Member] | Other Current Liabilities [Member] | ||||||
Deposit Liability, Current | $ 3,335,000 | |||||
NKD Enterprises LLC [Member] | ||||||
Equity Method Investment, Ownership Percentage | 25.50% | |||||
Ownership Percentage | 10.00% | |||||
NKD Enterprises LLC [Member] | Investment Income [Member] | ||||||
Proceeds from Cost Method Investment, Distribution | $ 230,000 |
Note 4 - Accounts Receivable _3
Note 4 - Accounts Receivable and Customer Concentrations (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivable, Allowance for Credit Loss, Current | $ 0 | $ 0 |
Allowance for Loan and Lease Losses, Write-offs | $ 0 | $ 0 |
Note 4 - Accounts Receivable _4
Note 4 - Accounts Receivable and Customer Concentrations - Concentration of Revenue (Details) - Customer Concentration Risk [Member] | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Customer A [Member] | Revenue Benchmark [Member] | ||
Concentration risk | 69.00% | 60.00% |
Customer A [Member] | Accounts Receivable [Member] | ||
Concentration risk | 59.00% | 80.00% |
Customer B [Member] | Revenue Benchmark [Member] | ||
Concentration risk | 2.00% | 11.00% |
Customer B [Member] | Accounts Receivable [Member] | ||
Concentration risk | 10.00% | 11.00% |
Customer C [Member] | Revenue Benchmark [Member] | ||
Concentration risk | 10.00% | 6.00% |
Customer C [Member] | Accounts Receivable [Member] | ||
Concentration risk | 6.00% | 2.00% |
Note 5 - Notes Receivable (Deta
Note 5 - Notes Receivable (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Jan. 31, 2020 | Oct. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2018 | Mar. 31, 2020 | Dec. 31, 2019 | |
Privately-Held Identity and Professional Services Company With Ties to the FinTech Industry [Member] | |||||||
Receivable Commitment to Lend | $ 1,500,000 | ||||||
Payments to Acquire Notes Receivable | $ 550,000 | ||||||
Equity Method Investment, Ownership Percentage | 40.00% | ||||||
Privately-Held Identity and Professional Services Company With Ties to the FinTech Industry [Member] | Loan Agreement, Six Percent, Maturing June 2021 [Member] | |||||||
Payments to Acquire Notes Receivable | $ 1,000,000 | ||||||
Notes Receivable, Stated Interest Rate | 6.00% | ||||||
Privately-Held Identity and Professional Services Company With Ties to the FinTech Industry [Member] | Loan Agreement, Six Percent, Maturing October 2021 [Member] | |||||||
Payments to Acquire Notes Receivable | $ 500,000 | ||||||
Notes Receivable, Stated Interest Rate | 6.00% | ||||||
Privately-Held Identity and Professional Services Company With Ties to the FinTech Industry [Member] | Loan Agreement, Six Percent, Maturing January 2022 [Member] | |||||||
Payments to Acquire Notes Receivable | $ 1,000,000 | ||||||
Private Limited India Based Company in the FinTech Industry [Member] | |||||||
Receivable Commitment to Lend | $ 435,000 | ||||||
Payments to Acquire Notes Receivable | $ 235,000 | ||||||
Notes Receivable, Stated Interest Rate | 5.00% | ||||||
Private Limited India Based Company in the FinTech Industry [Member] | Maximum [Member] | |||||||
Notes Receivable, Conversion, Percentage | 10.00% | ||||||
Private Limited India Based Company in the FinTech Industry [Member] | Notes Receivable [Member] | |||||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 259,000 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred Income Tax Liabilities, Net, Total | $ 818 | $ 275 |
Deferred Tax Assets, Valuation Allowance, Total | 517 | 582 |
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | |
Liability for Uncertainty in Income Taxes, Current | $ 0 |
Note 6 - Income Taxes - Income
Note 6 - Income Taxes - Income Tax Provision from Continuing Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Current | $ 1,925 | $ 1,991 |
Deferred | 543 | 555 |
Total | $ 2,468 | $ 2,546 |
Note 6 - Income Taxes - Reconci
Note 6 - Income Taxes - Reconciliation of Income Taxes Rates (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Statutory rate | 21.00% | 21.00% |
State and local taxes, net of federal benefit | 4.70% | 3.70% |
Equity compensation | 0.30% | (5.70%) |
Foreign tax credit | (2.70%) | |
Other | (0.10%) | (0.20%) |
Effective rate | 23.20% | 18.80% |
Note 6 - Income Taxes - Net Def
Note 6 - Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Unrealized loss on investments | $ 788 | $ 582 |
Foreign Tax Credit | 124 | |
Fixed assets | 1,347 | 370 |
Other | 134 | 95 |
Total deferred tax (liability) asset | (301) | |
Total deferred tax (liability) asset | 307 | |
Less valuation allowance | (517) | (582) |
Net deferred tax liability | $ (818) | $ (275) |
Note 7 - Commitments and Cont_3
Note 7 - Commitments and Contingencies - Supplemental Lease Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Right-of-use asset, net and lease liabilities (in thousands) | $ 2,889 | $ 945 |
Cash paid for operating lease liabilities (in thousands) | $ 1,033 | $ 563 |
Weighted average remaining lease term (years) (Year) | 3 years 182 days | 1 year 36 days |
Weighted average discount rate | 3.80% | 5.50% |
Lease expense | $ 1,052 | $ 563 |
Cost of Sales [Member] | ||
Lease expense | 725 | 230 |
General and Administrative Expense [Member] | ||
Lease expense | 214 | 210 |
Research and Development Expense [Member] | ||
Lease expense | $ 113 | $ 123 |
Note 7 - Commitments and Cont_4
Note 7 - Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2020USD ($) |
2021 | $ 983 |
2022 | 795 |
2023 | 718 |
2024 | 495 |
Thereafter | 108 |
Total lease liabilities | $ 3,099 |
Note 8 - Defined Contribution_2
Note 8 - Defined Contribution Plans (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 46,000 | $ 41,000 |
Note 9 - Related Party Transa_2
Note 9 - Related Party Transaction (Details Textual) - ISC Properties LLC [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Transaction, Expenses from Transactions with Related Party | $ 214,000 | $ 210,000 |
Chief Executive Officer [Member] | ||
Related Party Ownership Percentage | 100.00% |
Note 10 - Stock Compensation _3
Note 10 - Stock Compensation Plans (Details Textual) - USD ($) | 1 Months Ended | 4 Months Ended | 12 Months Ended | 216 Months Ended | |||||
Aug. 31, 2000 | Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2015 | Dec. 31, 2020 | Aug. 31, 2020 | Jun. 30, 2015 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 107,000 | 947,320 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 42,000 | 1,356,500 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Total (in shares) | 16,000 | 282,680 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares) | 102,500 | 102,500 | 84,500 | 102,500 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 24,000 | 24,000 | 24,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year) | 10 years | 10 years | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 235,000 | $ 235,000 | $ 235,000 | ||||||
Minimum [Member] | Share-based Payment Arrangement, Option [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 2 years | ||||||||
Maximum [Member] | Share-based Payment Arrangement, Option [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||||||
The 2003 Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 450,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||||||
Sharebased Compensation Arrangement By Sharebased Payment Award Number Of Options Ungranted (in shares) | 197,500 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 25,000 | |||||||
The 2015 Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 750,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 30,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Total (in shares) | 10,000 | ||||||||
The Directors Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 200,000 | ||||||||
Sharebased Compensation Arrangement By Sharebased Payment Award Number Of Options Ungranted (in shares) | 60,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 8,000 | |||||||
Number Of Options Each Director Received At Each Annual Meeting (in shares) | 4,000 | ||||||||
Options Vesting Percentage On First And Second Anniversary | 50.00% | ||||||||
The Directors Plan [Member] | Director [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 5,000 | ||||||||
The 2011 Non-employee Director Stock Option Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 200,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 74,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | 12,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Total (in shares) | 0 | 6,000 | |||||||
Three Independent Members of the Board of Directors [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total (in shares) | 4,380 | ||||||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $ 150,000 | ||||||||
Share-Based Compensation Arrangement, Stock to be Granted Per Recipient, Value | $ 50,000 |
Note 10 - Stock Compensation _4
Note 10 - Stock Compensation Plans - Stock Option Activity (Details) - $ / shares | 12 Months Ended | 216 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | |
Options outstanding, beginning of year (in shares) | 126,500 | 207,500 | |
Options cancelled (in shares) | (16,000) | (282,680) | |
Options exercised (in shares) | (107,000) | (947,320) | |
Options granted (in shares) | 42,000 | 1,356,500 | |
Options outstanding, end of year (in shares) | 126,500 | 126,500 | 126,500 |
Options available for grant (in shares) | 885,620 | 763,000 | 885,620 |
Options exercisable (in shares) | 102,500 | 84,500 | 102,500 |
Granted (in dollars per share) | $ 25.45 | ||
Exercised (in dollars per share) | 1.97 | ||
Outstanding (in dollars per share) | 8.94 | 8.94 | $ 8.94 |
Exercisable (in dollars per share) | 5.61 | 2.21 | 5.61 |
Minimum [Member] | |||
Granted (in dollars per share) | 19.99 | ||
Exercised (in dollars per share) | 0.69 | ||
Outstanding (in dollars per share) | 1.52 | 1.52 | 1.52 |
Maximum [Member] | |||
Granted (in dollars per share) | 39.11 | ||
Exercised (in dollars per share) | 7.80 | ||
Outstanding (in dollars per share) | $ 39.11 | $ 39.11 | $ 39.11 |
Note 10 - Stock Compensation _5
Note 10 - Stock Compensation Plans - Stock Options Outstanding and Exercisable (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Number Outstanding (in shares) | 126,500 | 126,500 | 207,500 |
Options Outstanding Exercise Price Range1 [Member] | |||
Lower Range of Exercise Price (in dollars per share) | $ 1.52 | ||
Upper Range of Exercise Price (in dollars per share) | $ 1.72 | ||
Number Outstanding (in shares) | 67,500 | ||
Wgt. Avg. Contractual Life Remaining (yrs) (Year) | 182 days | ||
Wgt. Avg. Exercise Price (in dollars per share) | $ 1.59 | ||
Aggregate Intrinsic Value | $ 2,600,325 | ||
Options Exercisable Exercise Price Range 1 [Member] | |||
Lower Range of Exercise Price (in dollars per share) | $ 1.52 | ||
Upper Range of Exercise Price (in dollars per share) | $ 1.72 | ||
Exercisable Options (in shares) | 67,500 | ||
Weighted-Average Contractual Life Remaining - Exercisable (Year) | 182 days | ||
Weighted-Average Exercise Price - Exercisable (in dollars per share) | $ 1.59 | ||
Aggregate Intrinsic Value - Exercisable | $ 2,600,325 | ||
Options Outstanding Exercise Price Range2 [Member] | |||
Lower Range of Exercise Price (in dollars per share) | $ 3.50 | ||
Upper Range of Exercise Price (in dollars per share) | $ 39.11 | ||
Number Outstanding (in shares) | 59,000 | ||
Wgt. Avg. Contractual Life Remaining (yrs) (Year) | 7 years 219 days | ||
Wgt. Avg. Exercise Price (in dollars per share) | $ 17.35 | ||
Aggregate Intrinsic Value | $ 1,342,770 | ||
Options Exercisable Exercise Price Range 2 [Member] | |||
Lower Range of Exercise Price (in dollars per share) | $ 3.50 | ||
Upper Range of Exercise Price (in dollars per share) | $ 39.11 | ||
Exercisable Options (in shares) | 35,000 | ||
Weighted-Average Contractual Life Remaining - Exercisable (Year) | 7 years 109 days | ||
Weighted-Average Exercise Price - Exercisable (in dollars per share) | $ 13.36 | ||
Aggregate Intrinsic Value - Exercisable | $ 936,370 | ||
Options Outstanding Exercise Price Range 3 [Member] | |||
Lower Range of Exercise Price (in dollars per share) | $ 1.52 | ||
Upper Range of Exercise Price (in dollars per share) | $ 39.11 | ||
Number Outstanding (in shares) | 126,500 | ||
Wgt. Avg. Contractual Life Remaining (yrs) (Year) | 3 years 292 days | ||
Wgt. Avg. Exercise Price (in dollars per share) | $ 8.94 | ||
Aggregate Intrinsic Value | $ 3,943,095 | ||
Options Exercisable Exercise Price Range3 [Member] | |||
Lower Range of Exercise Price (in dollars per share) | $ 1.52 | ||
Upper Range of Exercise Price (in dollars per share) | $ 39.11 | ||
Exercisable Options (in shares) | 102,500 | ||
Weighted-Average Contractual Life Remaining - Exercisable (Year) | 2 years 292 days | ||
Weighted-Average Exercise Price - Exercisable (in dollars per share) | $ 5.61 | ||
Aggregate Intrinsic Value - Exercisable | $ 3,536,695 |
Note 11 - Foreign Operations (D
Note 11 - Foreign Operations (Details Textual) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
INDIA | ||
Assets, Noncurrent, Total | $ 156,000 | $ 153,000 |
Foreign [Member] | ||
Assets, Noncurrent, Total | 1,958,000 | 1,226,000 |
Liabilities, Total | $ 1,754,000 | $ 1,267,000 |
Note 12 - Industry Segments (De
Note 12 - Industry Segments (Details Textual) | 12 Months Ended |
Dec. 31, 2020 | |
Number of Operating Segments | 1 |
Note 13 - Earnings Per Share (D
Note 13 - Earnings Per Share (Details Textual) - shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 95,000 | 95,000 |
Note 13 - Earnings Per Share -
Note 13 - Earnings Per Share - Reconciliation of Basic and Diluted Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net income | $ 8,161 | $ 10,969 |
Weighted average common shares outstanding (in shares) | 8,919,602 | 8,873,071 |
Earnings per share (in dollars per share) | $ 0.91 | $ 1.24 |
Effect of dilutive potential common shares: stock options (in shares) | 95,000 | 95,000 |
Total (in shares) | 9,014,985 | 8,967,901 |
Earnings per share (in dollars per share) | $ 0.91 | $ 1.22 |