Quarterly report pursuant to Section 13 or 15(d)

DEFINED CONTRIBUTION PLAN

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DEFINED CONTRIBUTION PLAN
6 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
DEFINED CONTRIBUTION PLAN

NOTE 8 – DEFINED CONTRIBUTION PLAN

 

The Company has a 401(k)-retirement savings plan (the “401(k) Plan”) covering all eligible employees. The 401(k) Plan allows employees to defer a portion of their annual compensation, and the Company may match a portion of the employees’ contributions generally after the first six months of service. During the three months ended June 30, 2024, the Company matched 100% of the first 4% of eligible employee compensation that was contributed to the 401(k) Plan. For the three and six months ended June 30, 2024, the Company recognized expense for matching cash contributions to the 401(k) Plan totaling $56,340 and $111,438, respectively.