Quarterly report pursuant to Section 13 or 15(d)

Employee Benefit Plan

v3.20.2
Employee Benefit Plan
 9 Months Ended
Sep. 30, 2020
Retirement Benefits [Abstract]  
Employee Benefit Plan

Note 10 – Employee Benefit Plan

 

The Company maintains a defined contribution benefit plan under section 401(k) of the Internal Revenue Code covering substantially all qualified employees of the Company (the “401(k) Plan”). Under the 401(k) Plan, the Company matches 100% up to a 3% contribution, and 50% over a 3% contribution, up to a maximum of 5%.

 

The Company made matching contributions to the 401(k) Plan during the three months ended September 30, 2020 and 2019 of $4,277 and $5,860, respectively and $27,201 and $22,748 during the nine months ended September 30, 2020 and 2019, respectively.