Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Mar. 29, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Entity Registrant Name | INFORMATION ANALYSIS INC | ||
Entity Central Index Key | 0000803578 | ||
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) | 11,211,760 | ||
Entity Public Float | $ 1,425,274 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(g) Security | Common Stock, par value $0.01 per share |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash and cash equivalents | $ 1,039,442 | $ 1,963,956 |
Accounts receivable | 668,712 | 652,839 |
Prepaid expenses and other current assets | 500,163 | 393,533 |
Total current assets | 2,208,317 | 3,010,328 |
Property and equipment, net of accumulated depreciation and amortization of $300,258 and $294,424 | 9,681 | 7,147 |
Right-of-use operating lease asset | 149,762 | |
Other assets | 6,281 | 6,281 |
Total assets | 2,374,041 | 3,023,756 |
Current liabilities | ||
Accounts payable | 216,227 | 25,294 |
Commissions payable | 108,058 | 508,083 |
Contract liabilities | 464,223 | 318,552 |
Accrued payroll and related liabilities | 219,350 | 217,751 |
Other accrued liabilities | 54,257 | 81,485 |
Operating lease liability current portion | 103,955 | |
Total current liabilities | 1,166,070 | 1,151,165 |
Operating lease liability non-current portion | 45,595 | |
Total liabilities | 1,211,665 | 1,151,165 |
Stockholders' equity | ||
Common stock, $0.01 par value, 30,000,000 shares authorized, 12,854,376 and 12,844,376 shares issued, 11,211,760 and 11,201,760 shares outstanding as of December 31, 2019 and 2018 | 128,543 | 128,443 |
Additional paid-in capital | 14,682,937 | 14,676,006 |
Accumulated deficit | (12,718,893) | (12,001,647) |
Treasury stock, 1,642,616 shares at cost at December 31, 2019 and 2018 | (930,211) | (930,211) |
Total stockholders' equity | 1,162,376 | 1,872,591 |
Total liabilities and stockholders' equity | $ 2,374,041 | $ 3,023,756 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Property and equipment, accumulated depreciation and amortization | $ 300,258 | $ 294,424 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 30,000,000 | 30,000,000 |
Common stock, shares issued (in shares) | 12,854,376 | 12,844,376 |
Common stock, shares outstanding (in shares) | 11,211,760 | 11,201,760 |
Treasury stock, shares (in shares) | 1,642,616 | 1,642,616 |
Statements of Operations and Co
Statements of Operations and Comprehensive Loss - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenues | ||
Total revenues | $ 10,164,981 | $ 8,933,775 |
Cost of revenues | ||
Total cost of revenues | 8,765,002 | 6,790,937 |
Gross profit | 1,399,979 | 2,142,838 |
Selling, general and administrative expenses | 1,875,255 | 1,745,320 |
Commission expense | 252,511 | 459,863 |
Loss from operations | (727,787) | (62,345) |
Other income | 10,541 | 11,311 |
Loss before provision for income taxes | (717,246) | (51,034) |
Provision for income taxes | ||
Net loss | (717,246) | (51,034) |
Comprehensive loss | $ (717,246) | $ (51,034) |
Net loss per commion share - basic (in dollars per share) | $ (0.06) | |
Net loss per commion share - diluted (in dollars per share) | $ (0.06) | |
Weighted average common shares outstanding | ||
Basic (in shares) | 11,208,308 | 11,201,760 |
Diluted (in shares) | 11,208,308 | 11,201,760 |
Professional Fees [Member] | ||
Revenues | ||
Total revenues | $ 3,243,790 | $ 4,392,311 |
Cost of revenues | ||
Total cost of revenues | 1,981,231 | 2,380,670 |
Software Sales [Member] | ||
Revenues | ||
Total revenues | 6,921,191 | 4,541,464 |
Cost of revenues | ||
Total cost of revenues | $ 6,783,771 | $ 4,410,267 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Balances (in shares) at Dec. 31, 2017 | 12,844,376 | ||||
Balances at Dec. 31, 2017 | $ 128,443 | $ 14,646,406 | $ (11,950,613) | $ (930,211) | $ 1,894,025 |
Net loss | (51,034) | (51,034) | |||
Stock option compensation | 29,600 | 29,600 | |||
Balances (in shares) at Dec. 31, 2018 | 12,844,376 | ||||
Balances at Dec. 31, 2018 | $ 128,443 | 14,676,006 | (12,001,647) | (930,211) | 1,872,591 |
Net loss | (717,246) | (717,246) | |||
Stock option compensation | 6,031 | $ 6,031 | |||
Issuance of stock from exercise of options (in shares) | 10,000 | 10,000 | |||
Issuance of stock from exercise of options | $ 100 | 900 | $ 1,000 | ||
Balances (in shares) at Dec. 31, 2019 | 12,854,376 | ||||
Balances at Dec. 31, 2019 | $ 128,543 | $ 14,682,937 | $ (12,718,893) | $ (930,211) | $ 1,162,376 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities | ||
Net loss | $ (717,246) | $ (51,034) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation and amortization | 5,834 | 9,757 |
Stock-based compensation | 6,031 | 29,600 |
Bad debt expense | 90 | |
Changes in operating assets and liabilities | ||
Accounts receivable | (15,963) | (37,125) |
Prepaid expenses and other current assets | (115,383) | (24,907) |
Accounts payable | 190,933 | (22,364) |
Accrued payroll and related liabilities, and other accrued liabilities | (17,088) | (387,833) |
Contract liabilties | 145,671 | (68,450) |
Commissions payable | (400,025) | (204,746) |
Franchise taxes payable | (6,400) | |
Net cash used in operating activities | (917,146) | (763,502) |
Cash flows from investing activities | ||
Acquisition of property and equipment | (8,368) | (5,771) |
Payments received on notes receivable | 1,719 | |
Net cash used in investing activities | (8,368) | (4,052) |
Cash flows from financing activities | ||
Issuance of stock from exercise of options | 1,000 | |
Net cash provided by financing activities | 1,000 | |
Net decrease in cash and cash equivalents | (924,514) | (767,554) |
Cash and cash equivalents, beginning of the year | 1,963,956 | 2,731,510 |
Cash and cash equivalents, end of the year | 1,039,442 | 1,963,956 |
Supplemental cash flow Information | ||
Interest paid | ||
Franchise taxes paid | $ 7,200 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 1. Operations Information Analysis Incorporated (“the Company”) was incorporated under the corporate laws of the Commonwealth of Virginia in 1979 Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results can, and in many cases will, differ from those estimates. Revenue Recognition In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09” 2014 09 606” January 1, 2018, 2 606. Segment Reporting The Company has concluded that it operates in one Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of ninety not Accounts Receivable Accounts receivable consist of trade accounts receivable and do not not 90 not No December 31, 2019 2018. December 31, 2018, December 31, 2018. No December 31, 2019. Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets. Furniture and fixtures are depreciated over the lesser of the useful life or five three five three Stock-Based Compensation At December 31, 2019, 10 $6,031 $29,600 December 31, 2019 2018, Income Taxes Deferred tax assets and liabilities are computed based on the difference between the financial statement and tax basis of assets and liabilities and are measured by applying enacted tax rates and laws for the taxable years in which those differences are expected to reverse. In addition, a valuation allowance is required to be recognized if it is believed more likely than not not not, Loss Per Share The Company’s loss per share calculations are based upon the weighted average number of shares of common stock outstanding. The dilutive effect of stock options, warrants and other equity instruments are included for purposes of calculating diluted earnings per share, except for periods when the Company reports a net loss, in which case the inclusion of such equity instruments would be antidilutive. See Note 11 Concentration of Credit Risk During the year ended December 31, 2019, 76.8% 23.0% 0.2% five one 19.0% 17.2% In the year ended December 31, 2018, 68.8% 26.5% 4.7% 0.05% five two 20.5% 12.4% 22.1% The Company sold third one 2019 2018, 67.1% 50.0% At December 31, 2019, two 13.0% 10.7% one 43.2% At December 31, 2018, two 16.6% 16.3% one 44.3% Related Party Transactions The Company’s Director of Human Resources is the spouse of the Senior Vice President and Chief Operating Officer of the Company. During the years ended December 31, 2019 2018, $131,552 $148,932, Recent Accounting Pronouncements Not In December 2019, 2019 12, “ Income Taxes (Topic 740 , Simplifying the Accounting for Income Taxes, ” 740 740 December 15, 2020. 2019 12 not Recently Adopted Accounting Pronouncements In February 2016, 2016 02, “Leases: Topic 842,” No. 2018 10, No. 2018 11, No. 2018 20, No. 2019 01 842” The Company adopted Topic 842 January 1, 2019, January 1, 2019, January 1, 2019. not January 1, 2019, not January 1, 2019. not not no The Company has an operating lease which is a real estate lease for its headquarters in Fairfax, Virginia. This lease has a fixed lease term of 49 December 31, 2019. December 31, 2019, not The Company’s operating lease asset represents its right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Since the lease does not not The Company has lease agreements which may not 12 Upon adoption of Topic 842 January 1, 2019, $242,696 $244,877. The Company’s lease agreement does not The Company does not third The following table provides supplemental balance sheet information related to the Company’s operating lease: Balance Sheet Classification December 31, 2019 Assets: Right-to-use operating lease asset $ 149,762 Liabilities: Operating lease liability - current $ 103,955 Operating lease liability - non-current 45,595 Total lease liabilities $ 149,550 The following table reconciles the undiscounted cash flows to the operating lease liabilities recorded in the Company’s balance sheet. December 31, 2019 2020 $ 110,086 2021 46,433 Total lease payments 156,519 Less: discount (6,969 ) Present value of lease liabilities $ 149,550 As of December 31, 2019, 1.5 5.5%. December 31, 2019, $104,487 December 31, 2018 $104,487. December 31, 2019, no 12 |
Note 2 - Revenue from Contracts
Note 2 - Revenue from Contracts with Customers | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 2. Revenue is recognized when all of the following steps have been taken and criteria met for each contract: • Identification of the contract, or contracts, with a customer - • Identification of the performance obligations in the contract - third not • Determination of the transaction price - • Allocation of the transaction price to the performance obligations in the contract - • Recognition of revenue when, or as, the Company satisf ies performance obligations - Nature of P roducts and S ervices The Company generates revenue from the sales of information technology professional services, sales of third third third Professional services are offered through several arrangements – through time and materials arrangements, fixed-price-per-unit arrangements, fixed-price arrangements, or combinations of these arrangements within individual contracts. Revenue under time and materials arrangements is recognized over time in the period the hours are worked or the expenses are incurred, as control of the benefits of the work is deemed to have passed to the customer as the work is performed. Revenue under fixed-price-per-unit arrangements is recognized at a point in time when delivery of units have occurred and units are accepted by the customer or are reasonably expected to be accepted. Generally, revenue under fixed-price arrangements and mixed arrangements is recognized either over time or at a point in time based on the allocation of transaction pricing to each identified performance obligation as control of each is transferred to the customer. For fixed-price arrangements for which the Company is paid a fixed fee to make itself available to support a customer, with no Third-party software licenses are classified as enterprise server-based software licenses or desktop software licenses, and desktop licenses are further classified by the type of customer and whether the licenses are bulk licenses or individual licenses. The Company’s obligations as the seller for each class differ based on its reseller agreements and whether its customers are government or non-government customers. Revenue from enterprise server-based sales to either government or non-government customers is usually recognized in full at a point in time based on when the customer gains use of the full benefit of the licenses, after the licenses are implemented. If the transaction prices of the performance obligations related to implementation and customer support for the individual contract is material, these obligations are recognized separately over time, as performed. Revenue for desktop software licenses for government customers is usually recognized in full at a point in time, based on when the customer’s administrative contact gains training in and beneficial use of the administrative portal. If the transaction prices of the performance obligations related to implementing the government administrator’s use of the administrative portal and administrator support for the individual contract are material (rare), these obligations are recognized separately over time, as performed. Revenue for bulk desktop software licenses for non-government customers is usually recognized in full at a point in time, based on when the customer’s administrative contact gains training in and beneficial use of the administrative portal. For desktop software licenses sold on an individual license basis to non-government customers, where the Company has no third Third-party support and maintenance contracts for enterprise server-based software include a performance obligation under the Company’s reseller agreements for it to be the first second not Incentive payments are received under reseller agreements with software manufacturers and suppliers where the Company introduces and court a customer, but the sale occurs directly between the customer and the supplier or between the customer and the manufacturer. Since the transfer of control of the licenses cannot be measured from outside of these transactions, revenue is recognized when payment from the manufacturer or supplier is received. Disaggregation of Revenue from Contracts with Customers Contract Year ended 12/31/2019 Year ended 12/31/2018 Type Amount Percentage Amount Percentage Services Time & Materials $ 2,446,439 24.1 % $ 3,010,891 33.7 % Services Fixed Price 434,058 4.3 % 1,103,828 12.4 % Services Combination 231,122 2.3 % 207,942 2.3 % Services Fixed Price per Unit 132,171 1.3 % 69,650 0.8 % Third-Party Software 6,233,703 61.3 % 3,897,421 43.6 % Software Support & Maintenance 660,926 6.5 % 589,975 6.6 % Incentive Payments 26,562 0.2 % 54,068 0.6 % Total Revenue $ 10,164,981 $ 8,933,775 Contract Balances Accounts Receivable Trade accounts receivable are recorded at the billable amount where the Company has the unconditional right to bill, net of allowances for doubtful accounts. The allowance for doubtful accounts is based on the Company’s assessment of the collectability of accounts. Management regularly reviews the adequacy of the allowance for doubtful accounts by considering the age of each outstanding invoice, each customer's expected ability to pay and collection history, when applicable, to determine whether a specific allowance is appropriate. Accounts receivable deemed uncollectible are charged against the allowance for doubtful accounts when identified. No December 31, 2019 2018. Contract Assets Contract assets consist of assets typically resulting when revenue recognized exceeds the amount billed or billable to the customer due to allocation of transaction price. There were no December 31, 2019 2018, Contract Liabilities Contract liabilities consist of amounts that have been invoiced for which the Company has the right to bill, but that have not not $464,223 $318,552 December 31, 2019 2018, Costs to Obtain or Fulfill a Contract When applicable, the Company recognizes an asset related to the costs incurred to obtain a contract only if it expects to recover those costs and it would not not $0 $3,480 December 31, 2019 2018, Financing Components In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined its contracts do not not Deferred Costs of Revenue Deferred costs of revenue consist of the costs of third $453,607 $294,115 December 31, 2019 2018, |
Note 3 - Receivables
Note 3 - Receivables | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Accounts and Nontrade Receivable [Text Block] | 3. Accounts receivable at December 31, 2019 2018, 2019 2018 Billed federal government $ 668,712 $ 612,679 Billed commercial and other - 40,160 Accounts receivable $ 668,712 $ 652,839 Billed receivables from the federal government include amounts due from both prime contracts and subcontracts where the federal government is the end customer. |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Fair Value Measurement, Policy [Policy Text Block] | 4. The Company defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes a fair value hierarchy based on three first two may • Level 1—Quoted • Level 2—Inputs 1 not • Level 3—Unobservable no The following table represents the fair value hierarchy for the Company’s financial assets (cash equivalents) measured at fair value on a recurring basis as of December 31, 2019 2018: Level 1 Level 2 Level 3 December 31, 2019 Money market funds $ 940,773 $ - $ - Total $ 940,773 $ - $ - December 31, 2018 Money market funds $ 1,706,376 $ - $ - Total $ 1,706,376 $ - $ - Money market funds are highly liquid investments. The pricing information on these investment instruments are readily available and can be independently validated as of the measurement date. This approach results in the classification of these securities as Level 1 The carrying amount of financial instruments such as accounts receivable, accounts payable, and accrued liabilities approximate the related fair value due to the short-term maturities of these instruments. |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5. A summary of property and equipment at December 31, 2019 2018, 2019 2018 Furniture and equipment $ 75,747 $ 75,747 Computer equipment and software 227,378 219,010 Leasehold improvements 6,814 6,814 Subtotal 309,939 301,571 Less: accumulated depreciation and amortization (300,258 ) (294,424 ) Total $ 9,681 $ 7,147 Depreciation and amortization expense for the years ended December 31, 2019 2018, $5,834 $9,757, |
Note 6 - Revolving Line of Cred
Note 6 - Revolving Line of Credit | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Schedule of Line of Credit Facilities [Table Text Block] | 6. On December 20, 2005, $1,000,000. 3.00% May 31, 2020. December 31, 2019, $446,000. December 31, 2019 4.76%. The bank has a first December 31, 2019, There was no December 31, 2019 2018. |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 7. Operating Leases The Company leases its facility under a long-term operating lease agreement through May 2021. $104,487 $104,487 December 31, 2019 2018, The future minimum rental payments to be made under long-term operating leases are as follows: Year ending December 31,: 2020 $ 110,086 2021 46,433 Total minimum rent payments $ 156,519 The above minimum lease payments reflect the base rent under the lease agreements. However, these base rents can be adjusted each year to reflect the Company’s proportionate share of increases in the building’s operating costs and the Company’s proportionate share of real estate tax increases on the leased property. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 8. The tax effects of significant temporary differences representing deferred tax assets at December 31, 2019 2018 2019 2018 Deferred tax assets (liabilities) Net operating loss carryforwards $ 916,200 $ 1,934,300 Accrued commissions 9,000 102,600 Accrued vacation 21,200 24,500 Fixed assets (23,500 ) (24,100 ) Other 3,700 6,400 Subtotal 926,600 2,043,700 Valuation allowance (926,600 ) (2,043,700 ) Total $ - $ - The provision for income taxes is at an effective rate different from the federal statutory rate due principally to the following: December 31, 2019 2018 Loss before taxes $ (717,246 ) $ (51,034 ) Income tax benefit on above amount at federal statutory rate $ (150,600 ) $ (10,700 ) State income tax benefit, net of federal benefit (35,900 ) (2,600 ) Permanent differences 2,900 8,600 Other (1,300 ) (1,900 ) NOL Expirations 1,302,000 2,015,100 Change in valuation allowance (1,117,100 ) (2,008,500 ) Provision for income taxes $ - $ - Income tax expense for the years ended December 31, 2019 2018 December 31, Current income taxes 2019 2018 Federal $ - $ - State - - Benefit from utilization of net operating losses - - Subtotal - - Deferred taxes - - Provision for income taxes $ - $ - The Company has recorded a valuation allowance to the full extent of its currently available net deferred tax assets which the Company determined to be not not $3.5 $2.2 2020 2036. The Company may may 382 not 382 The Company has analyzed its income tax positions using the criteria required by U.S. GAAP and concluded that as of December 31, 2019 2018, no no The income tax returns of the Company for 2016, 2017, 2018 three |
Note 9 - Retirement Plans
Note 9 - Retirement Plans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 9 . Retirement Plans The Company has a Cash or Deferred Arrangement Agreement, which satisfies the requirements of Section 401 may 2019 2018, 25% first 6% may may not 2019 2018. December 31, 2019 2018 $32,162 $30,599, |
Note 10 - Stock Options and War
Note 10 - Stock Options and Warrants | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 10. The Company has two 2006 2006 “2006 April 12, 2016. June 1, 2016, 2016 “2016 April 4, 2016. 33 Information Analysis Incorporated 2019 10 Information Analysis Incorporated NOTES TO FINANCIAL STATEMENTS The Company recognizes compensation costs for those shares expected to vest on a straight-line basis over the requisite service period of the awards. Generally such options vest over periods of six two 2019 2018 2019 2018 Risk-free interest rate 2.31% 2.65% - 2.92 % Dividend yield 0% 0% Expected term (in years) 5 5 Expected volatility 57.90% 49.0% - 55.1 % 2016 Stock Incentive Plan The 2016 June 1, 2016, April 4, 2026. 2016 may 2016 1,000,000. 2016 no ten December 31, 2019 2018, 371,000 373,000 2016 347,500 224,500 2006 The 2006 May 18, 2006, April 12, 2016. 2006 2006 1,950,000. 2006 no ten 978,000 1,003,500 2006 December 31, 2019 2018, The status of the options issued under the foregoing option plans as of December 31, 2019, December 31, 2019, Options outstanding Weighted average Weighted average Aggregate exercise price remaining intrinsic Incentive options Shares per share contractual term value Outstanding at December 31, 2018 1,376,500 $ 0.23 Options granted 3,000 0.21 Options exercised (10,000 ) 0.10 Options expired (15,500 ) 0.10 Options forfeited (5,000 ) 0.46 Outstanding at December 31, 2019 1,349,000 $ 0.23 3 years, 11 months $ - Exercisable at December 31, 2019 1,325,500 $ 0.23 3 years, 10 months $ - 34 Information Analysis Incorporated 2019 10 Information Analysis Incorporated NOTES TO FINANCIAL STATEMENTS Nonvested stock option awards as of December 31, 2019, December 31, 2019, Nonvested Weighted average grant date Shares fair value Nonvested at January 1, 2019 148,500 $ 0.20 Granted 3,000 0.11 Vested (123,000 ) 0.20 Forfeited (5,000 ) 0.21 Nonvested at December 31, 2019 23,500 $ 0.17 As of December 31, 2019, $781, 3 |
Note 11 - Loss per Share
Note 11 - Loss per Share | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 11. Basic loss per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, except for periods when the Company reports a net loss because the inclusion of such items would be antidilutive. The antidilutive effect of 67,312 452,724 December 31, 2019 2018, The following is a reconciliation of the amounts used in calculating basic and diluted net loss per common share. Per share Net loss Shares amount Basic net loss per common share for the year ended December 31, 2019: Loss available to common shareholders $ (717,246 ) 11,208,308 $ (0.06 ) Effect of dilutive stock options - - - Diluted net loss per common share for the year ended December 31, 2019: $ (717,246 ) 11,208,308 $ (0.06 ) Basic net loss per common share for the year ended December 31, 2018: Loss available to common shareholders $ (51,034 ) 11,201,760 $ - Effect of dilutive stock options - - - Diluted net loss per common share for the year ended December 31, 2018: $ (51,034 ) 11,201,760 $ - |
Note 12 - Financial Statement C
Note 12 - Financial Statement Captions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 12. The following table summarizes the Company’s prepaid expenses and other current assets as of December 31, 2019 2018: 2019 2018 Deferred costs of software sales $ 453,607 $ 294,115 Other 25,708 37,609 Prepaid insurance 20,791 15,499 Credit with software supplier 57 37,557 Prepaid rent - 8,753 Total $ 500,163 $ 393,533 The following table summarizes the Company’s other current liabilities as of December 31, 2019 2018: 2019 2018 Accrued accounting and auditing expense $ 47,000 $ 48,750 Other 7,257 19,235 Accrued costs of software sales - 13,500 Total $ 54,257 $ 81,485 |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 13. The outbreak of COVID- 19 19 not may may may may may not 19 19 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Organization and Business [Policy Text Block] | Operations Information Analysis Incorporated (“the Company”) was incorporated under the corporate laws of the Commonwealth of Virginia in 1979 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results can, and in many cases will, differ from those estimates. |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09” 2014 09 606” January 1, 2018, 2 606. |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting The Company has concluded that it operates in one |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of ninety not |
Accounts Receivable [Policy Text Block] | Accounts Receivable Accounts receivable consist of trade accounts receivable and do not not 90 not No December 31, 2019 2018. December 31, 2018, December 31, 2018. No December 31, 2019. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets. Furniture and fixtures are depreciated over the lesser of the useful life or five three five three |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation At December 31, 2019, 10 $6,031 $29,600 December 31, 2019 2018, |
Income Tax, Policy [Policy Text Block] | Income Taxes Deferred tax assets and liabilities are computed based on the difference between the financial statement and tax basis of assets and liabilities and are measured by applying enacted tax rates and laws for the taxable years in which those differences are expected to reverse. In addition, a valuation allowance is required to be recognized if it is believed more likely than not not not, |
Earnings Per Share, Policy [Policy Text Block] | Loss Per Share The Company’s loss per share calculations are based upon the weighted average number of shares of common stock outstanding. The dilutive effect of stock options, warrants and other equity instruments are included for purposes of calculating diluted earnings per share, except for periods when the Company reports a net loss, in which case the inclusion of such equity instruments would be antidilutive. See Note 11 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk During the year ended December 31, 2019, 76.8% 23.0% 0.2% five one 19.0% 17.2% In the year ended December 31, 2018, 68.8% 26.5% 4.7% 0.05% five two 20.5% 12.4% 22.1% The Company sold third one 2019 2018, 67.1% 50.0% At December 31, 2019, two 13.0% 10.7% one 43.2% At December 31, 2018, two 16.6% 16.3% one 44.3% |
Related Party Transactions, Policy [Policy Text Block] | Related Party Transactions The Company’s Director of Human Resources is the spouse of the Senior Vice President and Chief Operating Officer of the Company. During the years ended December 31, 2019 2018, $131,552 $148,932, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Not In December 2019, 2019 12, “ Income Taxes (Topic 740 , Simplifying the Accounting for Income Taxes, ” 740 740 December 15, 2020. 2019 12 not Recently Adopted Accounting Pronouncements In February 2016, 2016 02, “Leases: Topic 842,” No. 2018 10, No. 2018 11, No. 2018 20, No. 2019 01 842” The Company adopted Topic 842 January 1, 2019, January 1, 2019, January 1, 2019. not January 1, 2019, not January 1, 2019. not not no The Company has an operating lease which is a real estate lease for its headquarters in Fairfax, Virginia. This lease has a fixed lease term of 49 December 31, 2019. December 31, 2019, not The Company’s operating lease asset represents its right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Since the lease does not not The Company has lease agreements which may not 12 Upon adoption of Topic 842 January 1, 2019, $242,696 $244,877. The Company’s lease agreement does not The Company does not third The following table provides supplemental balance sheet information related to the Company’s operating lease: Balance Sheet Classification December 31, 2019 Assets: Right-to-use operating lease asset $ 149,762 Liabilities: Operating lease liability - current $ 103,955 Operating lease liability - non-current 45,595 Total lease liabilities $ 149,550 The following table reconciles the undiscounted cash flows to the operating lease liabilities recorded in the Company’s balance sheet. December 31, 2019 2020 $ 110,086 2021 46,433 Total lease payments 156,519 Less: discount (6,969 ) Present value of lease liabilities $ 149,550 As of December 31, 2019, 1.5 5.5%. December 31, 2019, $104,487 December 31, 2018 $104,487. December 31, 2019, no 12 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Operating Lease, Assets and Liabilities, Lessee [Table Text Block] | Balance Sheet Classification December 31, 2019 Assets: Right-to-use operating lease asset $ 149,762 Liabilities: Operating lease liability - current $ 103,955 Operating lease liability - non-current 45,595 Total lease liabilities $ 149,550 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | December 31, 2019 2020 $ 110,086 2021 46,433 Total lease payments 156,519 Less: discount (6,969 ) Present value of lease liabilities $ 149,550 |
Note 2 - Revenue from Contrac_2
Note 2 - Revenue from Contracts with Customers (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Contract Year ended 12/31/2019 Year ended 12/31/2018 Type Amount Percentage Amount Percentage Services Time & Materials $ 2,446,439 24.1 % $ 3,010,891 33.7 % Services Fixed Price 434,058 4.3 % 1,103,828 12.4 % Services Combination 231,122 2.3 % 207,942 2.3 % Services Fixed Price per Unit 132,171 1.3 % 69,650 0.8 % Third-Party Software 6,233,703 61.3 % 3,897,421 43.6 % Software Support & Maintenance 660,926 6.5 % 589,975 6.6 % Incentive Payments 26,562 0.2 % 54,068 0.6 % Total Revenue $ 10,164,981 $ 8,933,775 |
Note 3 - Receivables (Tables)
Note 3 - Receivables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2019 2018 Billed federal government $ 668,712 $ 612,679 Billed commercial and other - 40,160 Accounts receivable $ 668,712 $ 652,839 |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Level 1 Level 2 Level 3 December 31, 2019 Money market funds $ 940,773 $ - $ - Total $ 940,773 $ - $ - December 31, 2018 Money market funds $ 1,706,376 $ - $ - Total $ 1,706,376 $ - $ - |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2019 2018 Furniture and equipment $ 75,747 $ 75,747 Computer equipment and software 227,378 219,010 Leasehold improvements 6,814 6,814 Subtotal 309,939 301,571 Less: accumulated depreciation and amortization (300,258 ) (294,424 ) Total $ 9,681 $ 7,147 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | December 31, 2019 2020 $ 110,086 2021 46,433 Total lease payments 156,519 Less: discount (6,969 ) Present value of lease liabilities $ 149,550 |
Facility under Long-term Lease [Member] | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year ending December 31,: 2020 $ 110,086 2021 46,433 Total minimum rent payments $ 156,519 |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2019 2018 Deferred tax assets (liabilities) Net operating loss carryforwards $ 916,200 $ 1,934,300 Accrued commissions 9,000 102,600 Accrued vacation 21,200 24,500 Fixed assets (23,500 ) (24,100 ) Other 3,700 6,400 Subtotal 926,600 2,043,700 Valuation allowance (926,600 ) (2,043,700 ) Total $ - $ - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | December 31, 2019 2018 Loss before taxes $ (717,246 ) $ (51,034 ) Income tax benefit on above amount at federal statutory rate $ (150,600 ) $ (10,700 ) State income tax benefit, net of federal benefit (35,900 ) (2,600 ) Permanent differences 2,900 8,600 Other (1,300 ) (1,900 ) NOL Expirations 1,302,000 2,015,100 Change in valuation allowance (1,117,100 ) (2,008,500 ) Provision for income taxes $ - $ - |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | December 31, Current income taxes 2019 2018 Federal $ - $ - State - - Benefit from utilization of net operating losses - - Subtotal - - Deferred taxes - - Provision for income taxes $ - $ - |
Note 10 - Stock Options and W_2
Note 10 - Stock Options and Warrants (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2019 2018 Risk-free interest rate 2.31% 2.65% - 2.92 % Dividend yield 0% 0% Expected term (in years) 5 5 Expected volatility 57.90% 49.0% - 55.1 % |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Options outstanding Weighted average Weighted average Aggregate exercise price remaining intrinsic Incentive options Shares per share contractual term value Outstanding at December 31, 2018 1,376,500 $ 0.23 Options granted 3,000 0.21 Options exercised (10,000 ) 0.10 Options expired (15,500 ) 0.10 Options forfeited (5,000 ) 0.46 Outstanding at December 31, 2019 1,349,000 $ 0.23 3 years, 11 months $ - Exercisable at December 31, 2019 1,325,500 $ 0.23 3 years, 10 months $ - |
Schedule of Nonvested Share Activity [Table Text Block] | Nonvested Weighted average grant date Shares fair value Nonvested at January 1, 2019 148,500 $ 0.20 Granted 3,000 0.11 Vested (123,000 ) 0.20 Forfeited (5,000 ) 0.21 Nonvested at December 31, 2019 23,500 $ 0.17 |
Note 11 - Loss per Share (Table
Note 11 - Loss per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Per share Net loss Shares amount Basic net loss per common share for the year ended December 31, 2019: Loss available to common shareholders $ (717,246 ) 11,208,308 $ (0.06 ) Effect of dilutive stock options - - - Diluted net loss per common share for the year ended December 31, 2019: $ (717,246 ) 11,208,308 $ (0.06 ) Basic net loss per common share for the year ended December 31, 2018: Loss available to common shareholders $ (51,034 ) 11,201,760 $ - Effect of dilutive stock options - - - Diluted net loss per common share for the year ended December 31, 2018: $ (51,034 ) 11,201,760 $ - |
Note 12 - Financial Statement_2
Note 12 - Financial Statement Captions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | 2019 2018 Deferred costs of software sales $ 453,607 $ 294,115 Other 25,708 37,609 Prepaid insurance 20,791 15,499 Credit with software supplier 57 37,557 Prepaid rent - 8,753 Total $ 500,163 $ 393,533 2019 2018 Accrued accounting and auditing expense $ 47,000 $ 48,750 Other 7,257 19,235 Accrued costs of software sales - 13,500 Total $ 54,257 $ 81,485 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Jan. 01, 2019USD ($) | |
Number of Operating Segments | 1 | ||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 0 | $ 0 | |
Accounts Receivable, Allowance for Credit Loss, Discounts | 0 | ||
Share-based Payment Arrangement, Expense | $ 6,031 | 29,600 | |
Lessee, Operating Lease, Term of Contract | 4 years 30 days | ||
Operating Lease, Right-of-Use Asset | $ 149,762 | ||
Operating Lease, Liability, Total | $ 149,550 | ||
Operating Lease, Weighted Average Remaining Lease Term | 1 year 182 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 5.50% | ||
Operating Lease, Expense | $ 104,487 | 104,487 | |
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | $ 242,696 | ||
Operating Lease, Liability, Total | $ 244,877 | ||
Director of Human Resources [Member] | Wages and Paid Leave Distributions [Member] | |||
Related Party Transaction, Amounts of Transaction | $ 131,552 | $ 148,932 | |
Product Concentration Risk [Member] | Revenue Benchmark [Member] | Prime Contracts with U.S. Government Agencies [Member] | |||
Concentration Risk, Percentage | 76.80% | 68.80% | |
Number of Major Contracts | 1 | 2 | |
Product Concentration Risk [Member] | Revenue Benchmark [Member] | Subcontracts under Federal Procurements [Member] | |||
Concentration Risk, Percentage | 23.00% | 26.50% | |
Product Concentration Risk [Member] | Revenue Benchmark [Member] | Commercial Contracts [Member] | |||
Concentration Risk, Percentage | 0.20% | 4.70% | |
Product Concentration Risk [Member] | Revenue Benchmark [Member] | Prime Contracts with U.S. Government Agencies, Contract One [Member] | |||
Concentration Risk, Percentage | 19.00% | 20.50% | |
Product Concentration Risk [Member] | Revenue Benchmark [Member] | Subcontracts under Federal Procurements, Contract One [Member] | |||
Concentration Risk, Percentage | 17.20% | 22.10% | |
Product Concentration Risk [Member] | Revenue Benchmark [Member] | State and Local Government Contracts [Member] | |||
Concentration Risk, Percentage | 0.05% | ||
Product Concentration Risk [Member] | Revenue Benchmark [Member] | Prime Contracts with U.S. Government Agencies, Contract Two [Member] | |||
Concentration Risk, Percentage | 12.40% | ||
Product Concentration Risk [Member] | Accounts Receivable [Member] | Subcontracts under Federal Procurements [Member] | |||
Concentration Risk, Percentage | 43.20% | 44.30% | |
Number of Major Contracts | 1 | 1 | |
Supplier Concentration Risk [Member] | Revenue Benchmark [Member] | |||
Concentration Risk, Percentage | 67.10% | 50.00% | |
Number of Major Suppliers | 1 | 1 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | U.S. Government Agencies [Member] | |||
Number of Major Customers | 2 | 2 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | U.S. Government Agencies, One [Member] | |||
Concentration Risk, Percentage | 13.00% | 16.60% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | U.S. Government Agencies, Two [Member] | |||
Concentration Risk, Percentage | 10.70% | 16.30% | |
Computer Equipment [Member] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Maximum [Member] | Furniture and Fixtures [Member] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Maximum [Member] | Off-the-Shelf Software [Member] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Minimum [Member] | Software Development [Member] | |||
Property, Plant and Equipment, Useful Life | 5 years |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Operating Lease Balance Sheet Information (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Right-of-use operating lease asset | $ 149,762 | |
Operating lease liability current portion | 103,955 | |
Operating lease liability non-current portion | 45,595 | |
Total lease liabilities | $ 149,550 |
Note 1 - Summary of Significa_5
Note 1 - Summary of Significant Accounting Policies - Operating Lease Maturities (Details) | Dec. 31, 2019USD ($) |
2020 | $ 110,086 |
2021 | 46,433 |
Total lease payments | 156,519 |
Less: discount | (6,969) |
Present value of lease liabilities | $ 149,550 |
Note 2 - Revenue from Contrac_3
Note 2 - Revenue from Contracts with Customers (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 0 | $ 0 |
Contract with Customer, Liability, Current | 464,223 | 318,552 |
Capitalized Contract Cost, Net, Total | 0 | 3,480 |
Prepaid Expenses and Other Current Assets [Member] | ||
Deferred Costs of Revenue | $ 453,607 | $ 294,115 |
Note 2 - Revenue from Contrac_4
Note 2 - Revenue from Contracts with Customers - Disaggregation of Revenue from Contracts with Customers (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue, Amount | $ 10,164,981 | $ 8,933,775 |
Services Time and Materials [Member] | ||
Revenue, Amount | $ 2,446,439 | $ 3,010,891 |
Services Time and Materials [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member] | ||
Revenue, Percentage | 24.10% | 33.70% |
Services Fixed Price [Member] | ||
Revenue, Amount | $ 434,058 | $ 1,103,828 |
Services Fixed Price [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member] | ||
Revenue, Percentage | 4.30% | 12.40% |
Services Combination [Member] | ||
Revenue, Amount | $ 231,122 | $ 207,942 |
Services Combination [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member] | ||
Revenue, Percentage | 2.30% | 2.30% |
Services Fixed Price per Unit [Member] | ||
Revenue, Amount | $ 132,171 | $ 69,650 |
Services Fixed Price per Unit [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member] | ||
Revenue, Percentage | 1.30% | 0.80% |
Third-Party Software [Member] | ||
Revenue, Amount | $ 6,233,703 | $ 3,897,421 |
Third-Party Software [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member] | ||
Revenue, Percentage | 61.30% | 43.60% |
Software Support and Maintenance [Member] | ||
Revenue, Amount | $ 660,926 | $ 589,975 |
Software Support and Maintenance [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member] | ||
Revenue, Percentage | 6.50% | 6.60% |
Incentive Payments [Member] | ||
Revenue, Amount | $ 26,562 | $ 54,068 |
Incentive Payments [Member] | Revenue Benchmark [Member] | Product Concentration Risk [Member] | ||
Revenue, Percentage | 0.20% | 0.60% |
Note 3 - Receivables - Accounts
Note 3 - Receivables - Accounts Receivable (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts receivable | $ 668,712 | $ 652,839 |
Billed Revenues [Member] | Government Sector [Member] | ||
Accounts receivable gross | 668,712 | 612,679 |
Billed Revenues [Member] | Commercial and Other Sector [Member] | ||
Accounts receivable gross | $ 40,160 |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements - Financial Assets Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Inputs, Level 1 [Member] | ||
Total | $ 940,773 | $ 1,706,376 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Money market funds | 940,773 | 1,706,376 |
Fair Value, Inputs, Level 2 [Member] | ||
Total | ||
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||
Money market funds | ||
Fair Value, Inputs, Level 3 [Member] | ||
Total | ||
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ||
Money market funds |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 5,834 | $ 9,757 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Property and equipment gross | $ 309,939 | $ 301,571 |
Less: accumulated depreciation and amortization | (300,258) | (294,424) |
Property and equipment total | 9,681 | 7,147 |
Furniture and Fixtures [Member] | ||
Property and equipment gross | 75,747 | 75,747 |
Computer Equipment and Software [Member] | ||
Property and equipment gross | 227,378 | 219,010 |
Leasehold Improvements [Member] | ||
Property and equipment gross | $ 6,814 | $ 6,814 |
Note 6 - Revolving Line of Cr_2
Note 6 - Revolving Line of Credit (Details Textual) - Revolving Credit Facility [Member] - TD Bank [Member] - USD ($) | Dec. 20, 2005 | Dec. 31, 2019 | Dec. 31, 2018 |
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000 | ||
Line of Credit Facility, Current Borrowing Capacity | $ 446,000 | ||
Line of Credit Facility, Interest Rate at Period End | 4.76% | ||
Long-term Line of Credit, Total | $ 0 | $ 0 | |
London Interbank Offered Rate (LIBOR) Swap Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 3.00% |
Note 7 - Commitments and Cont_3
Note 7 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Leases, Rent Expense, Total | $ 104,487 | $ 104,487 |
Note 7 - Commitments and Cont_4
Note 7 - Commitments and Contingencies - Future Rental Payments (Details) | Dec. 31, 2019USD ($) |
2020 | $ 110,086 |
2021 | 46,433 |
Total minimum rent payments | $ 156,519 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Loss Carryforwards, Total | $ 3,500 | |
Operating Loss Carryforwards, Subject to Expiration | 2,200 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | $ 0 |
Domestic Tax Authority [Member] | ||
Open Tax Year | 2016 2017 2018 |
Note 8 - Income Taxes - Deferre
Note 8 - Income Taxes - Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Net operating loss carryforwards | $ 916,200 | $ 1,934,300 |
Accrued commissions | 9,000 | 102,600 |
Accrued vacation | 21,200 | 24,500 |
Fixed assets | (23,500) | (24,100) |
Other | 3,700 | 6,400 |
Subtotal | 926,600 | 2,043,700 |
Valuation allowance | (926,600) | (2,043,700) |
Total |
Note 8 - Income Taxes - Provisi
Note 8 - Income Taxes - Provision for Income Taxes (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Loss before taxes | $ (717,246) | $ (51,034) |
Income tax benefit on above amount at federal statutory rate | (150,600) | (10,700) |
State income tax benefit, net of federal benefit | (35,900) | (2,600) |
Permanent differences | 2,900 | 8,600 |
Other | (1,300) | (1,900) |
NOL Expirations | 1,302,000 | 2,015,100 |
Change in valuation allowance | (1,117,100) | (2,008,500) |
Provision for income taxes |
Note 8 - Income Taxes - Income
Note 8 - Income Taxes - Income Tax Expense (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Federal | ||
State | ||
Benefit from utilization of net operating losses | ||
Subtotal | ||
Deferred taxes | ||
Provision for income taxes |
Note 9 - Retirement Plans (Deta
Note 9 - Retirement Plans (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 25.00% | 25.00% |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | 6.00% |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 | $ 0 |
Defined Contribution Plan, Cost | $ 32,162 | $ 30,599 |
Note 10 - Stock Options and W_3
Note 10 - Stock Options and Warrants (Details Textual) - USD ($) | Jun. 01, 2016 | Dec. 31, 2019 | Dec. 31, 2018 | May 18, 2006 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 1,349,000 | 1,376,500 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 781 | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 90 days | |||
The 2016 Stock Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 371,000 | 373,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 347,500 | 224,500 | ||
The 2006 Stock Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,950,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 978,000 | 1,003,500 | ||
Minimum [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 180 days | |||
Maximum [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years |
Note 10 - Stock Options and W_4
Note 10 - Stock Options and Warrants - Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Risk-free interest rate | 2.31% | |
Dividend yield | 0.00% | 0.00% |
Expected term (Year) | 5 years | 5 years |
Expected volatility | 57.90% | |
Minimum [Member] | ||
Risk-free interest rate | 2.65% | |
Expected volatility | 49.00% | |
Maximum [Member] | ||
Risk-free interest rate | 2.92% | |
Expected volatility | 55.10% |
Note 10 - Stock Options and W_5
Note 10 - Stock Options and Warrants - Stock Option Activity (Details) | 12 Months Ended |
Dec. 31, 2019USD ($)$ / sharesshares | |
Outstanding, shares (in shares) | shares | 1,376,500 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 0.23 |
Options granted, shares (in shares) | shares | 3,000 |
Options granted, weighted average exercise price (in dollars per share) | $ / shares | $ 0.21 |
Options exercised, shares (in shares) | shares | (10,000) |
Options exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 0.10 |
Options expired, shares (in shares) | shares | (15,500) |
Options expired, weighted average exercise price (in dollars per share) | $ / shares | $ 0.10 |
Options forfeited, shares (in shares) | shares | (5,000) |
Options forfeited, weighted average exercise price (in dollars per share) | $ / shares | $ 0.46 |
Outstanding, shares (in shares) | shares | 1,349,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 0.23 |
Outstanding, weighted average remaining contractual term (Year) | 3 years 335 days |
Outstanding, aggregate intrinsic value | $ | |
Exercisable, shares (in shares) | shares | 1,325,500 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 0.23 |
Exercisable, weighted average remaining contractual term (Year) | 3 years 302 days |
Exercisable, aggregate intrinsic value | $ |
Note 10 - Stock Options and W_6
Note 10 - Stock Options and Warrants - Nonvested Option Awards Activity (Details) | 12 Months Ended |
Dec. 31, 2019$ / sharesshares | |
Nonvested, Shares, Balance (in shares) | shares | 148,500 |
Nonvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.20 |
Options granted, shares (in shares) | shares | 3,000 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.11 |
Vested, shares (in shares) | shares | (123,000) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.20 |
Forfeited, shares (in shares) | shares | (5,000) |
Forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.21 |
Nonvested, shares (in shares) | shares | 23,500 |
Nonvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.17 |
Note 11 - Loss per Share (Detai
Note 11 - Loss per Share (Details Textual) - shares | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 67,312 | 452,724 |
Note 11 - Loss per Share - Reco
Note 11 - Loss per Share - Reconciliation of the Amounts Used in Calculating Basic and Diluted Net Loss per Common Share (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Loss available to common shareholders | $ (717,246) | $ (51,034) |
Loss available to common shareholders, shares (in shares) | 11,208,308 | 11,201,760 |
Loss available to common shareholders, per share amount (in dollars per share) | $ (0.06) | |
Effect of dilutive stock options, shares (in shares) | ||
Diluted net loss per common share | $ (717,246) | $ (51,034) |
Diluted net loss per common share, shares (in shares) | 11,208,308 | 11,201,760 |
Diluted net loss per common share, per share amount (in dollars per share) | $ (0.06) |
Note 12 - Financial Statement_3
Note 12 - Financial Statement Captions - Prepaid Expenses and Other Current Assets (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred costs of software sales | $ 453,607 | $ 294,115 |
Other | 25,708 | 37,609 |
Prepaid insurance | 20,791 | 15,499 |
Credit with software supplier | 57 | 37,557 |
Prepaid rent | 8,753 | |
Total | 500,163 | 393,533 |
Accrued accounting and auditing expense | 47,000 | 48,750 |
Other | 7,257 | 19,235 |
Accrued costs of software sales | 13,500 | |
Other accrued liabilities | $ 54,257 | $ 81,485 |