CREDITRISKMONITOR COM INC, 10-K filed on 25 Mar 21
v3.21.1
Document and Entity Information - USD ($)
12 Months Ended
Dec. 31, 2020
Mar. 25, 2021
Jun. 30, 2020
Cover [Abstract]      
Entity Registrant Name CREDITRISKMONITOR COM INC    
Entity Central Index Key 0000315958    
Current Fiscal Year End Date --12-31    
Document Type 10-K    
Amendment Flag false    
Document Period End Date Dec. 31, 2020    
Document Fiscal Year Focus 2020    
Document Fiscal Period Focus FY    
Entity Address, State or Province NY    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business true    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Public Float     $ 6,327,730
Entity Common Stock, Shares Outstanding   10,722,401  
v3.21.1
BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 10,302,732 $ 8,275,836
Available for sale securities - municipal bonds 458,237 0
Accounts receivable, net of allowance of $30,000 2,557,443 2,287,921
Other current assets 589,072 549,821
Total current assets 13,907,484 11,113,578
Property and equipment, net 545,675 477,973
Operating lease right-of-use asset 2,200,031 2,380,974
Goodwill 1,954,460 1,954,460
Other assets 84,892 35,723
Total assets 18,692,542 15,962,708
Current liabilities:    
Unexpired subscription revenue 9,646,407 8,651,843
Accounts payable 130,089 137,500
Current portion of operating lease liability 161,874 147,229
Current portion of bank loan 1,299,007 0
Accrued expenses 1,822,485 1,344,550
Total current liabilities 13,059,862 10,281,122
Deferred taxes on income, net 333,432 521,765
Unexpired subscription revenue, less current portion 197,545 166,169
Bank loan, less current portion 262,493 0
Operating lease liability, less current portion 2,137,559 2,299,433
Total liabilities 15,990,891 13,268,489
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $.01 par value; authorized 5,000,000 shares; none issued 0 0
Common stock, $.01 par value; authorized 32,500,000 shares; issued and outstanding 10,722,401 shares 107,224 107,224
Additional paid-in capital 29,760,533 29,705,673
Accumulated deficit (27,166,106) (27,118,678)
Total stockholders' equity 2,701,651 2,694,219
Total liabilities and stockholders' equity $ 18,692,542 $ 15,962,708
v3.21.1
BALANCE SHEETS (Parenthetical) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Accounts receivable, allowance $ 30,000 $ 30,000
Stockholders' equity:    
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, authorized (in shares) 5,000,000 5,000,000
Preferred stock, issued (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 32,500,000 32,500,000
Common stock, issued (in shares) 10,722,401 10,722,401
Common stock, outstanding (in shares) 10,722,401 10,722,401
v3.21.1
STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
STATEMENTS OF OPERATIONS [Abstract]    
Operating revenues $ 15,732,366 $ 14,501,173
Operating expenses:    
Data and product costs 6,026,464 5,759,660
Selling, general and administrative expenses 9,724,182 8,347,083
Depreciation and amortization 219,847 207,224
Total operating expenses 15,970,493 14,313,967
Income (loss) from operations (238,127) 187,206
Other income, net 26,774 155,852
Income (loss) before income taxes (211,353) 343,058
Benefit from (provision for) income taxes 163,925 (125,464)
Net income (loss) $ (47,428) $ 217,594
Net income (loss) per share:    
Basic (in dollars per share) $ 0 $ 0.02
Diluted (in dollars per share) $ 0 $ 0.02
v3.21.1
STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
Common Stock [Member]
Additional Paid-in Capital [Member]
Accumulated Deficit [Member]
Total
Balance at Dec. 31, 2018 $ 107,224 $ 29,650,760 $ (26,800,152) $ 2,957,832
Balance (in shares) at Dec. 31, 2018 10,722,401      
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) $ 0 0 217,594 217,594
Cash dividend paid 0 0 (536,120) (536,120)
Stock-based compensation 0 54,913 0 54,913
Balance at Dec. 31, 2019 $ 107,224 29,705,673 (27,118,678) $ 2,694,219
Balance (in shares) at Dec. 31, 2019 10,722,401     10,722,401
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) $ 0 0 (47,428) $ (47,428)
Stock-based compensation 0 54,860 0 54,860
Balance at Dec. 31, 2020 $ 107,224 $ 29,760,533 $ (27,166,106) $ 2,701,651
Balance (in shares) at Dec. 31, 2020 10,722,401     10,722,401
v3.21.1
STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income (loss) $ (47,428) $ 217,594
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Deferred income taxes (188,333) 31,384
Depreciation and amortization 219,847 207,224
Stock-based compensation 54,860 54,913
Operating lease 33,715 41,151
Changes in operating assets and liabilities:    
Accounts receivable, net (269,523) 166,664
Other current assets 3,153 12,040
Other assets (91,068) (110)
Unexpired subscription revenue 1,025,940 79,567
Accounts payable (7,412) 42,733
Accrued expenses 477,936 33,332
Net cash provided by operating activities 1,211,687 886,492
Cash flows from investing activities:    
Purchase of available for available-for-sale securities - municipal bonds (458,742) 0
Purchase of property and equipment (287,549) (141,435)
Net cash used in investing activities (746,291) (141,435)
Cash flows from financing activities:    
Dividend paid to stockholders 0 (536,120)
Bank loan 1,561,500 0
Net cash provided by (used in) financing activities 1,561,500 (536,120)
Net increase in cash and cash equivalents 2,026,896 208,937
Cash and cash equivalents at beginning of year 8,275,836 8,066,899
Cash and cash equivalents at end of year 10,302,732 8,275,836
Cash paid, net during the year for:    
Income taxes $ 66,000 $ 41,261
v3.21.1
ORGANIZATION AND DESCRIPTION OF BUSINESS
12 Months Ended
Dec. 31, 2020
ORGANIZATION AND DESCRIPTION OF BUSINESS [Abstract]  
ORGANIZATION AND DESCRIPTION OF BUSINESS
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

CreditRiskMonitor.com, Inc. (also referred to as the “Company” or “CreditRiskMonitor”) provides a totally interactive business-to-business Internet-based service designed specifically for credit and supply chain managers. This service is sold predominantly to corporations located in the United States. In addition, the Company is a re-distributor of international credit reports in the United States.
v3.21.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
12 Months Ended
Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Recently Issued Accounting Standards

The Financial Accounting Standards Board (“FASB”) and the Securities and Exchange Commission (“SEC”) have issued certain other accounting pronouncements as of December 31, 2020 that will become effective in subsequent periods; however, management does not believe that any of these pronouncements would have significantly affected the Company’s financial accounting measurements or disclosures had they been in effect during the periods for which financial statements are included in this annual report, nor does management believe those pronouncements would have a significant effect on the Company’s future financial position or results of operations.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

Cash and Cash Equivalents

Cash and cash equivalents are comprised of cash in banks and highly liquid instruments with original maturities of three months or less, primarily consisting of investments in institutional money market funds.

Property and Equipment

Property and equipment are recorded at cost. Depreciation is provided on the straight-line method over the estimated useful life of the asset. Estimated useful lives are generally as follows:


Fixtures, equipment and software -- 3 to 10 years

Leasehold improvements -- lower of estimated useful life or term of lease (i.e., 2 to 7 years)

Goodwill

Goodwill and other indefinite-lived intangible assets are subject to annual impairment testing using the specific guidance and criteria described in the accounting guidance. The Company performs its goodwill impairment testing at least annually in the fourth quarter of each year, unless circumstances dictate the need for more frequent assessment. Goodwill impairment is determined using a two-step process. The first step of the impairment test is used to identify potential impairment by comparing the fair value of a reporting unit to the book value, including goodwill. If the fair value of a reporting unit exceeds its book value, goodwill of the reporting unit is not considered impaired and the second step of the impairment test is not required. If the book value of a reporting unit exceeds its fair value, the second step of the impairment test is performed to measure the amount of impairment loss, if any. The second step of the impairment test compares the implied fair value of the reporting unit’s goodwill with the book value of that goodwill. If the book value of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. The Company completed its annual goodwill impairment tests for 2020 and 2019 during the fourth quarter of each year and determined there was no impairment of existing goodwill.

Long-Lived Assets

The Company reviews its long-lived amortizable assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with accounting guidance. Recoverability of assets held and used is measured by a comparison of the carrying amount of an asset to undiscounted pre-tax future net cash flows expected to be generated by that asset. An impairment loss is recognized for the amount by which the carrying amount of the assets exceeds the fair value of the assets. As of December 31, 2020 and 2019, management believes no impairment of long-lived assets has occurred.

Income Taxes

The Company provides for deferred income taxes resulting from temporary differences between financial statement and income tax reporting. Temporary differences are differences between the amounts of assets and liabilities reported for financial statement purposes and their tax bases. Deferred tax liabilities are recognized for temporary differences that will be taxable in future years’ tax returns. Deferred tax assets are recognized for temporary differences that will be deductible in future years’ tax returns and for operating loss and tax credit carryforwards. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not that some or all of the deferred tax assets will not be realized.

Revenue Recognition

The Company applies FASB Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”) to recognize revenue. ASC 606 requires an entity to apply the following five-step approach: (1) identify the contract(s) with a customer; (2) identify each performance obligation in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation; and (5) recognize revenue when or as each performance obligation is satisfied. The Company’s primary source of revenue is subscription income which is recognized ratably over the subscription term.

The Company has applied the practical expedient to recognize incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that otherwise would have been recognized is one year or less.

Lease Accounting

For all leases, at the lease commencement date, a right-of-use asset and a lease liability are recognized. The right-of-use asset represents the right to use the leased asset for the lease term. The lease liability represents the present value of the remaining lease payments under the lease. Lease payments included in the measurement of the lease liability comprise the following: the fixed noncancelable lease payments and payments for optional renewal periods where it is reasonably certain the renewal period will be exercised. Lease expense for operating leases consists of the lease payments plus any initial direct costs, and is recognized on a straight-line basis over the lease term.

The Company’s operating lease right-of-use asset and operating lease liability represents the lease for the office space used to conduct its business.

Net Income (Loss) Per Share

Net income (loss) per share is calculated based on the weighted average number of shares of common stock outstanding during the reporting period. Diluted net income (loss) per share is calculated giving effect to all potentially dilutive common shares, assuming such shares were outstanding during the reporting period. The difference between basic and diluted net income (loss) per share is solely attributable to stock options. The Company uses the treasury stock method to calculate the impact of outstanding stock options (see Note 8).

Segment Information

An operating segment, in part, is a component of an enterprise whose operating results are regularly reviewed by the chief operating decision maker (the “CODM”) to make decisions about resources to be allocated to the segment and assess its performance. Operating segments may be aggregated only to a limited extent. The Company’s CODM, the Chief Executive Officer, reviews financial information presented on a consolidated basis, accompanied by disaggregated information about revenues for purposes of making operating decisions and assessing financial performance. Accordingly, the Company has determined that it has a single operating and reportable segment. In addition, the Company has no foreign operations or any assets in foreign locations.

Stock-Based Compensation

The Company recognizes the grant-date fair value of all stock-based awards on a straight-line basis over their respective requisite service periods (generally equal to an award’s vesting period). The Company records deferred tax assets for awards that will result in deductions on its tax returns, based upon the amount of compensation cost recognized and the statutory tax rate in the jurisdiction in which it will receive a deduction.

See Note 5 for more information regarding the Company’s stock compensation plans.

Fair Value Measurements

The Company records its financial instruments at fair value in accordance with accounting guidance. The determination of fair value assumes that the transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The fair value hierarchy is broken down into three levels based on the source of inputs as follows: (a) Level 1 – valuations based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; (b) Level 2 – valuations based on quoted prices in markets that are not active, or financial instruments for which all significant inputs are observable; either directly or indirectly; and (c) Level 3 – valuations based on prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable; thus, reflecting assumptions about the market participants.

The Company, in accordance with Accounting Standards Update (“ASU”) 2016-01, classifies its debt securities as “available-for-sale” and are recorded at fair value.  Realized gains and losses on available-for-sale debt securities are reported in net income with unrealized gains and losses reported in other income.

Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk principally consist of cash, cash equivalents, available-for-sale securities and accounts receivable. The Company maintains its cash and cash equivalents in bank deposit and other accounts, the balances of which, at times, may exceed federally insured limits. Exposure to credit risk is reduced by placing such deposits in high credit quality financial institutions.

The Company closely monitors the extension of credit to its customers. The Company’s accounts receivable balance is net of an allowance for doubtful accounts. The Company does not require collateral or other security to support credit sales, but provides an allowance for doubtful accounts of $30,000 as of December, 31, 2021 and 2019, based on historical experience and specifically identified risks. Accounts receivable are charged off against the allowance for doubtful accounts when management determines that recovery is unlikely and the Company ceases collection efforts. The Company does not believe that significant credit risk existed at December 31, 2020 nor 2019.
v3.21.1
FAIR VALUE MEASUREMENTS
12 Months Ended
Dec. 31, 2020
FAIR VALUE MEASUREMENTS [Abstract]  
FAIR VALUE MEASUREMENTS
NOTE 3 – FAIR VALUE MEASUREMENTS

The Company’s cash, cash equivalents and available-for-sale securities are stated at fair value. The carrying value of accounts receivable, other current assets, bank loan and accounts payable approximates fair market value because of the short maturity of these financial instruments.

The Company’s cash equivalents are generally classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices.

All available-for-sale securities as of December 31, 2020 were municipal bonds. Investments in municipal bonds are valued using pricing models maximizing the use of observable inputs for similar securities. Municipal bonds are classified as Level 2 of the fair value hierarchy.

The tables below set forth the Company’s cash and cash equivalents, as well as marketable securities as of December 31, 2020 and December 31, 2019, respectively, which are measured at fair value on a recurring basis by level within the fair value hierarchy.

  
December 31, 2020
 
  
Level 1
  
Level 2
  
Level 3
  
Total
 
             
Cash and cash equivalents
 
$
10,302,732
  
$
-
  
$
-
  
$
10,302,732
 
                 
Available-for-sale securities
 
$
-
  
$
458,237
  
$
-
  
$
458,237
 

  
December 31, 2019
 

 
Level 1
  
Level 2
  
Level 3
  
Total
 
             
Cash and cash equivalents
 
$
8,275,836
  
$
-
  
$
-
  
$
8,275,836
 

The Company did not hold financial assets and liabilities which were recorded at fair value in the Level 2 or 3 categories as of December 31, 2019.

The preceding methods may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The cost and fair value of available-for-sale securities at December 31, 2020 is as follows:

  
Cost
  
Unrealized Loss
  
Fair Value
 
          
Available-for-sale securities
 
$
458,742
  
$
(505
)
 
$
458,237
 

Maturities of available-for-sale securities were as follows at December 31, 2020:


   
Available-for-sale securities Due after 10 years
 
$
458,237
 

The fair value of available-for-sale securities are presented in the available-for-sale category by contractual maturity in the preceding table. Expected maturities may differ from contractual maturities because borrowers have the right to call or prepay obligations without call or prepayment penalties.

Management evaluates securities for other-than-temporary impairment at least on an annual basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Management has determined that no other-than-temporary impairment exists as of December 31, 2020.

There were no proceeds from the sale of marketable securities in 2020. Subsequent to December 31, 2020 the Company liquidated all of their municipal bond investments in available-for-sale securities, and transferred the proceeds to Level 1 cash and cash equivalent investments.
v3.21.1
INCOME TAXES
12 Months Ended
Dec. 31, 2020
INCOME TAXES [Abstract]  
INCOME TAXES
NOTE 4 - INCOME TAXES

The Company’s income tax (benefit) expense consisted of the following:

  
2020
  
2019
 
Current:
      
Federal
 
$
37,373
  
$
67,677
 
State
  
(12,854
)
  
26,404
 
Deferred:
        
Federal
  
(67,742
)
  
23,781
 
State
  
(120,702
)
  
7,602
 
         
  
$
(163,925
)
 
$
125,464
 

The actual tax (benefit) expense for 2020 and 2019 differs from the “expected” tax expense for those years (computed by applying the applicable United States federal corporate tax rate to income before income taxes) as follows:

  
2020
  
2019
 
       
Computed “expected” (benefit) expense 
 
$
(44,384
)
 
$
72,042
 
Permanent differences
  
11,516
   
25,619
 
State and local income tax expense
  
2,720
   
12,344
 
True-up of current taxes
  
(25,916
)
  
4,763
 
True-up of deferred taxes
  
11,644
   
11,014
 
Change in state approtionment
  
(119,505
)
  
(318
)
         
Income tax (benefit) expense
 
$
(163,925
)
 
$
125,464
 

The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets (liabilities) at December 31, 2020 and 2019 are as follows:

  
2020
  
2019
 
Deferred tax assets:
      
Net operating loss carryovers
 
$
-
  
$
-
 
Stock options
  
17,556
   
20,085
 
Accrued vacation
  
85,436
   
70,654
 
Bad debt allowance
  
6,411
   
8,314
 
Deferred revenue
  
4,732
   
5,833
 
Deferred rent
  
15,999
   
11,403
 
Other
  
17,212
   
21,972
 
         
Total deferred tax assets
  
147,346
   
138,261
 
         
Deferred tax liabilities:
        
Goodwill
  
(417,688
)
  
(541,628
)
Fixed assets
  
(63,090
)
  
(118,398
)
         
Total deferred tax liabilities
  
(480,778
)
  
(660,026
)
         
Net deferred tax liabilities
 
$
(333,432
)
 
$
(521,765
)
v3.21.1
COMMON STOCK AND STOCK OPTIONS
12 Months Ended
Dec. 31, 2020
COMMON STOCK AND STOCK OPTIONS [Abstract]  
COMMON STOCK AND STOCK OPTIONS
NOTE 5 - COMMON STOCK AND STOCK OPTIONS

Common Stock

At December 31, 2020 and December 31, 2019, there were 575,750 and 456,870 shares, respectively, of the Company’s authorized common stock reserved for issuance upon exercise of outstanding options under its stock option plan.

Preferred Stock

The Company’s Articles of Incorporation provide that the Board of Directors has the authority, without further action by the holders of the outstanding common stock, to issue up to five million shares of preferred stock from time to time in one or more series. The Board of Directors shall fix the consideration to be paid, but not less than par value thereof, and to fix the terms of any such series, including dividend rights, dividend rates, conversion or exchange rights, voting rights, rights and terms of redemption (including sinking fund provisions), the redemption price and the liquidation preference of such series. As of December 31, 2020 and 2019, the Company does not have any preferred stock outstanding.

Stock Options

As of December 31, 2020, the Company has two stock option plans: the 2009 Long-Term Incentive Plan (“2009 Plan”) which ended in 2019, and the 2020 Long-Term Incentive Plan (“2020 Plan”).

Both the 2009 and the 2020 Plan authorize the grant of incentive stock options, non-qualified stock options, SARs, restricted stock, bonus stock, and performance shares to employees, consultants, and non-employee directors of the Company. The exercise price of each option shall not be less than the fair market value of the common stock at the date of grant. The total number of the Company’s shares that may be awarded under the 2009 Plan was 1,000,000 shares of common stock, and the 2020 Plan was 1,000,000 shares of common stock. At December 31, 2020, there were options outstanding for 393,650 shares of common stock under the 2009 Plan, and 182,100 shares of common stock under the 2020 Plan.  As of December, 31 2019, there were options outstanding for 456,870 shares of common stock under the 2009 Plan.

Options expire on the date determined, but not more than ten years from the date of grant. All of the options granted under the 2009 and 2020 Plan may be exercised after four years in installments upon the attainment of specified length of service, unless otherwise determined by the Compensation Committee as set forth in the Award Agreement. In the event of a change in control (as defined), the options will vest in full at the time of such change in control.

Transactions with respect to the Company’s stock option plans for the years ended December 31, 2020 and 2019 are as follows:

     
Number
of Shares
  
Weighted
Average
Exercise
Price
 
       
Outstanding at January 1, 2019
  
376,850
  
$
2.98
 
Granted
  
195,800
   
1.45
 
Forfeited
  
(115,780
)
  
3.06
 
         
Outstanding at December 31, 2019
  
456,870
  
$
2.30
 
Granted
  
182,100
   
2.17
 
Expired
  
(26,000
)
  
4.62
 
Forfeited
  
(37,220
)
  
2.15
 
         
Outstanding at December 31, 2020
  
575,750
  
$
2.17
 

As of December 31, 2020, there were 817,900 shares of common stock reserved for the granting of additional options.  The 2009 Plan expired at the end of 2019 and no additional options could be granted.

The following table summarizes the stock-based compensation expense for stock options that was recorded in the Company’s results of operations for the years ended December 31:


 
2020
  
2019 
 

      
Data and product costs
 
$
19,928
  
$
22,460
 
Selling, general and administrative costs
  
34,932
   
32,453
 

        

 
$
54,860
  
$
54,913
 

The fair value of each option is estimated on the date of grant using the Black-Scholes option-pricing model that uses the weighted average assumptions noted in the following table. Expected volatilities are based on historical volatility of our stock through the date of grant. The Company uses the simplified method to estimate the options’ expected term. The risk-free interest rate used is based on the U.S. Treasury constant maturities at the time of grant having a term that approximates the expected life of the option.

The fair value of options granted during the year ended December 31, 2019 was $125,832. The fair value of options granted during the year ended December 31, 2020 was $206,087. The fair value of options at date of grant was estimated using the Black-Scholes model with the following assumptions:

  
2020
  
2019
 
Risk-free interest rate
  
0.26
%
  
1.78
%
Expected volatility factor
  
72.57
%
  
64.00
%
Expected dividends
  
0.05
   
0.05
 
Expected life of the option (years)
  
7.17
   
9
 

The Company issues new shares upon the exercise of options.

The following table summarizes information about the Company’s stock options outstanding at December 31, 2020:

   
Options Outstanding
  
Options Exercisable
 
Range of
Exercise Prices
  
Number
Outstanding
  
Weighted
Average
Remaining
Contractual
Life
(in years)
  
Weighted
Average
Exercise
Price
  
Number
Exercisable
  
Weighted
Average
Exercise
Price
 
                 
$
1.00 - $ 2.00
   
256,100
   
8.36
  
$
1.52
   
-
   
-
 
$
2.01 - $ 3.00
   
279,100
   
5.67
  
$
2.42
   
57,350
     
$
3.01 - $ 6.00
   
40,550
   
0.84
  
$
4.51
   
32,550
  
$
$4.73
 
                       
     
575,750
   
6.53
  
$
2.17
   
89,900
  
$
$3.30
 

The aggregate intrinsic value represents the total pre-tax intrinsic value, based on options with an exercise price less than the Company’s closing stock price of $2.35 and $1.57 as of December 31, 2020 and 2019, respectively, which would have been received by the option holders had those option holders exercised their options as of that date. The aggregate intrinsic value of options outstanding as of December 31, 2020 and 2019 was $23,046 and $238,548, respectively.

As of December 31, 2020, the total compensation cost related to unvested stock-based awards granted to employees under the Company’s stock option plan but not yet recognized was $407,771. This cost will be amortized on a straight-line basis over a weighted average term of 5.85 years and will be adjusted for subsequent changes in estimated forfeitures.
v3.21.1
PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2020
PROPERTY AND EQUIPMENT [Abstract]  
PROPERTY AND EQUIPMENT
NOTE 6 - PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

  
2020
  
2019
 
       
Computer equipment and software
 
$
1,720,814
  
$
1,485,579
 
Furniture and fixtures
  
512,975
   
507,503
 
Leasehold improvements
  
268,741
   
240,328
 
   
2,502,530
   
2,233,410
 
Less accumulated depreciation and amortization
  
(1,956,855
)
  
(1,755,437
)
         
  
$
545,675
  
$
477,973
 
v3.21.1
OPERATING LEASE
12 Months Ended
Dec. 31, 2020
OPERATING LEASE [Abstract]  
OPERATING LEASE
NOTE 7 – OPERATING LEASE

The following table reconciles the undiscounted cash flows for the Company’s operating lease at December 31, 2020 to the operating lease liability recorded on the balance sheet:

2021
 
$
262,970
 
2022
  
270,859
 
2023
  
278,985
 
2024
  
287,355
 
2025
  
295,975
 
Thereafter
  
1,473,078
 
Total future undiscounted lease payments
  
2,869,223
 
LESS: Imputed interest
  
(569,789
)
Present value of lease liability
 
$
2,299,433
 
     
Current portion of operating lease liability
 
$
161,874
 
Non-current portion of operating lease liability
  
2,137,559
 
  
$
2,299,433
 
v3.21.1
NET INCOME (LOSS) PER SHARE
12 Months Ended
Dec. 31, 2020
NET INCOME (LOSS) PER SHARE [Abstract]  
NET INCOME (LOSS) PER SHARE
NOTE 8 - NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is based on the weighted average number of common shares outstanding. Diluted net income (loss) per share is based on the weighted average number of common shares outstanding and the dilutive effect of outstanding stock options:

  
2020
  
2019
 
       
Net income (loss) 
 
$
(47,428
)
 
$
217,594
 

        
Weighted average common shares outstanding – basic
  
10,722,401
   
10,722,401
 
Potential shares exercisable under stock option plans
  
--
   
13,700
 
Less: Shares which could be repurchased under treasury stock method
  
--
   
(11,562
)
Weighted average common shares outstanding – diluted
  
10,722,401
   
10,724,539
 
  $   $  
Net income (loss) per share:
        
Basic
 
$
(0.00
)
 
$
0.02
 
Diluted
 
$
(0.00
)
 
$
0.02
 

Because the Company has reported a net loss for fiscal 2020, diluted net loss per share is the same as basic net loss per share, as the effect of utilizing the fully diluted share count would have reduced the net loss per share. Therefore, all outstanding stock options were excluded from the computation of diluted net loss per share because their effect was anti‐dilutive for each of the periods presented.

For fiscal 2019, the computation of diluted net income per share excludes the effects of the assumed exercise of 369,455 options, since their inclusion would be anti-dilutive as their exercise prices were above the average market value.
v3.21.1
RELATED PARTY TRANSACTION
12 Months Ended
Dec. 31, 2020
RELATED PARTY TRANSACTION [Abstract]  
RELATED PARTY TRANSACTION
NOTE 9 - RELATED PARTY TRANSACTION

In October 2020, the Company’s Board of Directors appointed Michael Flum to serve as President and Chief Operating Officer. Previously, he was serving as Senior Vice President and Chief Operating Officer effective October 2019 and had served as Vice President of Operations & Alternative Data since June 2018. Mr. Flum is the son of Jerome Flum, the Company’s Chief Executive Officer and Chairman of the Board of Directors, and the brother of Joshua Flum, a Director of the Company.
v3.21.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
12 Months Ended
Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Recently Issued Accounting Standards
Recently Issued Accounting Standards

The Financial Accounting Standards Board (“FASB”) and the Securities and Exchange Commission (“SEC”) have issued certain other accounting pronouncements as of December 31, 2020 that will become effective in subsequent periods; however, management does not believe that any of these pronouncements would have significantly affected the Company’s financial accounting measurements or disclosures had they been in effect during the periods for which financial statements are included in this annual report, nor does management believe those pronouncements would have a significant effect on the Company’s future financial position or results of operations.
Use of Estimates
Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
Cash and Cash Equivalents
Cash and Cash Equivalents

Cash and cash equivalents are comprised of cash in banks and highly liquid instruments with original maturities of three months or less, primarily consisting of investments in institutional money market funds.
Property and Equipment
Property and Equipment

Property and equipment are recorded at cost. Depreciation is provided on the straight-line method over the estimated useful life of the asset. Estimated useful lives are generally as follows:


Fixtures, equipment and software -- 3 to 10 years

Leasehold improvements -- lower of estimated useful life or term of lease (i.e., 2 to 7 years)
Goodwill
Goodwill

Goodwill and other indefinite-lived intangible assets are subject to annual impairment testing using the specific guidance and criteria described in the accounting guidance. The Company performs its goodwill impairment testing at least annually in the fourth quarter of each year, unless circumstances dictate the need for more frequent assessment. Goodwill impairment is determined using a two-step process. The first step of the impairment test is used to identify potential impairment by comparing the fair value of a reporting unit to the book value, including goodwill. If the fair value of a reporting unit exceeds its book value, goodwill of the reporting unit is not considered impaired and the second step of the impairment test is not required. If the book value of a reporting unit exceeds its fair value, the second step of the impairment test is performed to measure the amount of impairment loss, if any. The second step of the impairment test compares the implied fair value of the reporting unit’s goodwill with the book value of that goodwill. If the book value of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. The Company completed its annual goodwill impairment tests for 2020 and 2019 during the fourth quarter of each year and determined there was no impairment of existing goodwill.
Long-Lived Assets
Long-Lived Assets

The Company reviews its long-lived amortizable assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with accounting guidance. Recoverability of assets held and used is measured by a comparison of the carrying amount of an asset to undiscounted pre-tax future net cash flows expected to be generated by that asset. An impairment loss is recognized for the amount by which the carrying amount of the assets exceeds the fair value of the assets. As of December 31, 2020 and 2019, management believes no impairment of long-lived assets has occurred.
Income Taxes
Income Taxes

The Company provides for deferred income taxes resulting from temporary differences between financial statement and income tax reporting. Temporary differences are differences between the amounts of assets and liabilities reported for financial statement purposes and their tax bases. Deferred tax liabilities are recognized for temporary differences that will be taxable in future years’ tax returns. Deferred tax assets are recognized for temporary differences that will be deductible in future years’ tax returns and for operating loss and tax credit carryforwards. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not that some or all of the deferred tax assets will not be realized.
Revenue Recognition
Revenue Recognition

The Company applies FASB Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”) to recognize revenue. ASC 606 requires an entity to apply the following five-step approach: (1) identify the contract(s) with a customer; (2) identify each performance obligation in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation; and (5) recognize revenue when or as each performance obligation is satisfied. The Company’s primary source of revenue is subscription income which is recognized ratably over the subscription term.

The Company has applied the practical expedient to recognize incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that otherwise would have been recognized is one year or less.
Lease Accounting
Lease Accounting

For all leases, at the lease commencement date, a right-of-use asset and a lease liability are recognized. The right-of-use asset represents the right to use the leased asset for the lease term. The lease liability represents the present value of the remaining lease payments under the lease. Lease payments included in the measurement of the lease liability comprise the following: the fixed noncancelable lease payments and payments for optional renewal periods where it is reasonably certain the renewal period will be exercised. Lease expense for operating leases consists of the lease payments plus any initial direct costs, and is recognized on a straight-line basis over the lease term.

The Company’s operating lease right-of-use asset and operating lease liability represents the lease for the office space used to conduct its business.
Net Income (Loss) Per Share
Net Income (Loss) Per Share

Net income (loss) per share is calculated based on the weighted average number of shares of common stock outstanding during the reporting period. Diluted net income (loss) per share is calculated giving effect to all potentially dilutive common shares, assuming such shares were outstanding during the reporting period. The difference between basic and diluted net income (loss) per share is solely attributable to stock options. The Company uses the treasury stock method to calculate the impact of outstanding stock options (see Note 8).
Segment Information
Segment Information

An operating segment, in part, is a component of an enterprise whose operating results are regularly reviewed by the chief operating decision maker (the “CODM”) to make decisions about resources to be allocated to the segment and assess its performance. Operating segments may be aggregated only to a limited extent. The Company’s CODM, the Chief Executive Officer, reviews financial information presented on a consolidated basis, accompanied by disaggregated information about revenues for purposes of making operating decisions and assessing financial performance. Accordingly, the Company has determined that it has a single operating and reportable segment. In addition, the Company has no foreign operations or any assets in foreign locations.
Stock-Based Compensation
Stock-Based Compensation

The Company recognizes the grant-date fair value of all stock-based awards on a straight-line basis over their respective requisite service periods (generally equal to an award’s vesting period). The Company records deferred tax assets for awards that will result in deductions on its tax returns, based upon the amount of compensation cost recognized and the statutory tax rate in the jurisdiction in which it will receive a deduction.

See Note 5 for more information regarding the Company’s stock compensation plans.
Fair Value Measurements
Fair Value Measurements

The Company records its financial instruments at fair value in accordance with accounting guidance. The determination of fair value assumes that the transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The fair value hierarchy is broken down into three levels based on the source of inputs as follows: (a) Level 1 – valuations based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; (b) Level 2 – valuations based on quoted prices in markets that are not active, or financial instruments for which all significant inputs are observable; either directly or indirectly; and (c) Level 3 – valuations based on prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable; thus, reflecting assumptions about the market participants.

The Company, in accordance with Accounting Standards Update (“ASU”) 2016-01, classifies its debt securities as “available-for-sale” and are recorded at fair value.  Realized gains and losses on available-for-sale debt securities are reported in net income with unrealized gains and losses reported in other income.
Concentrations of Credit Risk
Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk principally consist of cash, cash equivalents, available-for-sale securities and accounts receivable. The Company maintains its cash and cash equivalents in bank deposit and other accounts, the balances of which, at times, may exceed federally insured limits. Exposure to credit risk is reduced by placing such deposits in high credit quality financial institutions.

The Company closely monitors the extension of credit to its customers. The Company’s accounts receivable balance is net of an allowance for doubtful accounts. The Company does not require collateral or other security to support credit sales, but provides an allowance for doubtful accounts of $30,000 as of December, 31, 2021 and 2019, based on historical experience and specifically identified risks. Accounts receivable are charged off against the allowance for doubtful accounts when management determines that recovery is unlikely and the Company ceases collection efforts. The Company does not believe that significant credit risk existed at December 31, 2020 nor 2019.
v3.21.1
FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2020
FAIR VALUE MEASUREMENTS [Abstract]  
Cash and Cash Equivalents and Marketable Securities Measured at Fair Value on Recurring Basis
The tables below set forth the Company’s cash and cash equivalents, as well as marketable securities as of December 31, 2020 and December 31, 2019, respectively, which are measured at fair value on a recurring basis by level within the fair value hierarchy.

  
December 31, 2020
 
  
Level 1
  
Level 2
  
Level 3
  
Total
 
             
Cash and cash equivalents
 
$
10,302,732
  
$
-
  
$
-
  
$
10,302,732
 
                 
Available-for-sale securities
 
$
-
  
$
458,237
  
$
-
  
$
458,237
 

  
December 31, 2019
 

 
Level 1
  
Level 2
  
Level 3
  
Total
 
             
Cash and cash equivalents
 
$
8,275,836
  
$
-
  
$
-
  
$
8,275,836
 
Cost and Fair Value of Available-for-Sale Securities
The cost and fair value of available-for-sale securities at December 31, 2020 is as follows:

  
Cost
  
Unrealized Loss
  
Fair Value
 
          
Available-for-sale securities
 
$
458,742
  
$
(505
)
 
$
458,237
 
Maturities of Available-for-Sale Securities
Maturities of available-for-sale securities were as follows at December 31, 2020:


   
Available-for-sale securities Due after 10 years
 
$
458,237
 
v3.21.1
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2020
INCOME TAXES [Abstract]  
Income Tax Expense (Benefit)
The Company’s income tax (benefit) expense consisted of the following:

  
2020
  
2019
 
Current:
      
Federal
 
$
37,373
  
$
67,677
 
State
  
(12,854
)
  
26,404
 
Deferred:
        
Federal
  
(67,742
)
  
23,781
 
State
  
(120,702
)
  
7,602
 
         
  
$
(163,925
)
 
$
125,464
 
Income Tax Reconciliation
The actual tax (benefit) expense for 2020 and 2019 differs from the “expected” tax expense for those years (computed by applying the applicable United States federal corporate tax rate to income before income taxes) as follows:

  
2020
  
2019
 
       
Computed “expected” (benefit) expense 
 
$
(44,384
)
 
$
72,042
 
Permanent differences
  
11,516
   
25,619
 
State and local income tax expense
  
2,720
   
12,344
 
True-up of current taxes
  
(25,916
)
  
4,763
 
True-up of deferred taxes
  
11,644
   
11,014
 
Change in state approtionment
  
(119,505
)
  
(318
)
         
Income tax (benefit) expense
 
$
(163,925
)
 
$
125,464
 
Net Deferred Tax Assets (Liabilities)
The tax effects of temporary differences that give rise to significant portions of the net deferred tax assets (liabilities) at December 31, 2020 and 2019 are as follows:

  
2020
  
2019
 
Deferred tax assets:
      
Net operating loss carryovers
 
$
-
  
$
-
 
Stock options
  
17,556
   
20,085
 
Accrued vacation
  
85,436
   
70,654
 
Bad debt allowance
  
6,411
   
8,314
 
Deferred revenue
  
4,732
   
5,833
 
Deferred rent
  
15,999
   
11,403
 
Other
  
17,212
   
21,972
 
         
Total deferred tax assets
  
147,346
   
138,261
 
         
Deferred tax liabilities:
        
Goodwill
  
(417,688
)
  
(541,628
)
Fixed assets
  
(63,090
)
  
(118,398
)
         
Total deferred tax liabilities
  
(480,778
)
  
(660,026
)
         
Net deferred tax liabilities
 
$
(333,432
)
 
$
(521,765
)
v3.21.1
COMMON STOCK AND STOCK OPTIONS (Tables)
12 Months Ended
Dec. 31, 2020
COMMON STOCK AND STOCK OPTIONS [Abstract]  
Stock Option Activity
Transactions with respect to the Company’s stock option plans for the years ended December 31, 2020 and 2019 are as follows:

     
Number
of Shares
  
Weighted
Average
Exercise
Price
 
       
Outstanding at January 1, 2019
  
376,850
  
$
2.98
 
Granted
  
195,800
   
1.45
 
Forfeited
  
(115,780
)
  
3.06
 
         
Outstanding at December 31, 2019
  
456,870
  
$
2.30
 
Granted
  
182,100
   
2.17
 
Expired
  
(26,000
)
  
4.62
 
Forfeited
  
(37,220
)
  
2.15
 
         
Outstanding at December 31, 2020
  
575,750
  
$
2.17
 
Stock-based Compensation Expense for Stock Options
The following table summarizes the stock-based compensation expense for stock options that was recorded in the Company’s results of operations for the years ended December 31:


 
2020
  
2019 
 

      
Data and product costs
 
$
19,928
  
$
22,460
 
Selling, general and administrative costs
  
34,932
   
32,453
 

        

 
$
54,860
  
$
54,913
 
Fair Value Assumptions used in the Valuation of Stock Options
The fair value of options at date of grant was estimated using the Black-Scholes model with the following assumptions:

  
2020
  
2019
 
Risk-free interest rate
  
0.26
%
  
1.78
%
Expected volatility factor
  
72.57
%
  
64.00
%
Expected dividends
  
0.05
   
0.05
 
Expected life of the option (years)
  
7.17
   
9
 
Stock Options Outstanding by Price Range
The following table summarizes information about the Company’s stock options outstanding at December 31, 2020:

   
Options Outstanding
  
Options Exercisable
 
Range of
Exercise Prices
  
Number
Outstanding
  
Weighted
Average
Remaining
Contractual
Life
(in years)
  
Weighted
Average
Exercise
Price
  
Number
Exercisable
  
Weighted
Average
Exercise
Price
 
                 
$
1.00 - $ 2.00
   
256,100
   
8.36
  
$
1.52
   
-
   
-
 
$
2.01 - $ 3.00
   
279,100
   
5.67
  
$
2.42
   
57,350
     
$
3.01 - $ 6.00
   
40,550
   
0.84
  
$
4.51
   
32,550
  
$
$4.73
 
                       
     
575,750
   
6.53
  
$
2.17
   
89,900
  
$
$3.30
 
v3.21.1
PROPERTY AND EQUIPMENT (Tables)
12 Months Ended
Dec. 31, 2020
PROPERTY AND EQUIPMENT [Abstract]  
Property and Equipment
Property and equipment consisted of the following:

  
2020
  
2019
 
       
Computer equipment and software
 
$
1,720,814
  
$
1,485,579
 
Furniture and fixtures
  
512,975
   
507,503
 
Leasehold improvements
  
268,741
   
240,328
 
   
2,502,530
   
2,233,410
 
Less accumulated depreciation and amortization
  
(1,956,855
)
  
(1,755,437
)
         
  
$
545,675
  
$
477,973
 
v3.21.1
OPERATING LEASE (Tables)
12 Months Ended
Dec. 31, 2020
OPERATING LEASE [Abstract]  
Undiscounted Cash Flows for Operating Lease
The following table reconciles the undiscounted cash flows for the Company’s operating lease at December 31, 2020 to the operating lease liability recorded on the balance sheet:

2021
 
$
262,970
 
2022
  
270,859
 
2023
  
278,985
 
2024
  
287,355
 
2025
  
295,975
 
Thereafter
  
1,473,078
 
Total future undiscounted lease payments
  
2,869,223
 
LESS: Imputed interest
  
(569,789
)
Present value of lease liability
 
$
2,299,433
 
     
Current portion of operating lease liability
 
$
161,874
 
Non-current portion of operating lease liability
  
2,137,559
 
  
$
2,299,433
 
v3.21.1
NET INCOME (LOSS) PER SHARE (Tables)
12 Months Ended
Dec. 31, 2020
NET INCOME (LOSS) PER SHARE [Abstract]  
Computation of Basic and Diluted Net Income (Loss) per Share
Basic net income (loss) per share is based on the weighted average number of common shares outstanding. Diluted net income (loss) per share is based on the weighted average number of common shares outstanding and the dilutive effect of outstanding stock options:

  
2020
  
2019
 
       
Net income (loss) 
 
$
(47,428
)
 
$
217,594
 

        
Weighted average common shares outstanding – basic
  
10,722,401
   
10,722,401
 
Potential shares exercisable under stock option plans
  
--
   
13,700
 
Less: Shares which could be repurchased under treasury stock method
  
--
   
(11,562
)
Weighted average common shares outstanding – diluted
  
10,722,401
   
10,724,539
 
  $   $  
Net income (loss) per share:
        
Basic
 
$
(0.00
)
 
$
0.02
 
Diluted
 
$
(0.00
)
 
$
0.02
 
v3.21.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
3 Months Ended 12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2020
USD ($)
Segment
Dec. 31, 2019
USD ($)
Goodwill [Abstract]        
Impairment of goodwill $ 0 $ 0    
Long-Lived Assets [Abstract]        
Impairment of long-lived assets     $ 0 $ 0
Segment Information [Abstract]        
Number of operating segments | Segment     1  
Concentration of Credit Risk [Abstract]        
Allowance for doubtful accounts $ 30,000 $ 30,000 $ 30,000 $ 30,000
Fixtures, Equipment and Software [Member] | Minimum [Member]        
Property, Plant and Equipment [Abstract]        
Useful life of asset     3 years  
Fixtures, Equipment and Software [Member] | Maximum [Member]        
Property, Plant and Equipment [Abstract]        
Useful life of asset     10 years  
Leasehold Improvements [Member] | Minimum [Member]        
Property, Plant and Equipment [Abstract]        
Useful life of asset     2 years  
Leasehold Improvements [Member] | Maximum [Member]        
Property, Plant and Equipment [Abstract]        
Useful life of asset     7 years  
v3.21.1
FAIR VALUE MEASUREMENTS, Cash and Cash Equivalents and Marketable Securities Measured at Fair Value on Recurring Basis (Details) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Cash and Cash Equivalents and Marketable Securities Measured at Fair Value on Recurring Basis [Abstract]    
Available-for-sale securities $ 458,237  
Recurring [Member]    
Cash and Cash Equivalents and Marketable Securities Measured at Fair Value on Recurring Basis [Abstract]    
Cash and cash equivalents 10,302,732 $ 8,275,836
Available-for-sale securities 458,237  
Recurring [Member] | Level 1 [Member]    
Cash and Cash Equivalents and Marketable Securities Measured at Fair Value on Recurring Basis [Abstract]    
Cash and cash equivalents 10,302,732 8,275,836
Available-for-sale securities 0  
Recurring [Member] | Level 2 [Member]    
Cash and Cash Equivalents and Marketable Securities Measured at Fair Value on Recurring Basis [Abstract]    
Cash and cash equivalents 0 0
Available-for-sale securities 458,237  
Recurring [Member] | Level 3 [Member]    
Cash and Cash Equivalents and Marketable Securities Measured at Fair Value on Recurring Basis [Abstract]    
Cash and cash equivalents 0 $ 0
Available-for-sale securities $ 0  
v3.21.1
FAIR VALUE MEASUREMENTS, Cost and Fair Value of Available-For-Sale Securities (Details)
Dec. 31, 2020
USD ($)
Cost and Fair Value of Available-For-Sale Securities [Abstract]  
Available-for-sale, Cost $ 458,742
Available-for-sale, Unrealized Loss (505)
Available-for-sale, Fair Value $ 458,237
v3.21.1
FAIR VALUE MEASUREMENTS, Maturities of Available-for-Sale Securities (Details)
Dec. 31, 2020
USD ($)
Available-for-sale Securities, Debt Maturities [Abstract]  
Available-for-sale securities Due after 10 years $ 458,237
v3.21.1
INCOME TAXES (Details) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Current [Abstract]    
Federal $ 37,373 $ 67,677
State (12,854) 26,404
Deferred [Abstract]    
Federal (67,742) 23,781
State (120,702) 7,602
Income tax (benefit) expense (163,925) 125,464
Income tax reconciliation [Abstract]    
Computed "expected" (benefit) expense (44,384) 72,042
Permanent differences 11,516 25,619
State and local income tax expense 2,720 12,344
True-up of current taxes (25,916) 4,763
True-up of deferred taxes 11,644 11,014
Change in state apportionment (119,505) (318)
Income tax (benefit) expense (163,925) 125,464
Deferred tax assets [Abstract]    
Net operating loss carryovers 0 0
Stock options 17,556 20,085
Accrued vacation 85,436 70,654
Bad debt allowance 6,411 8,314
Deferred revenue 4,732 5,833
Deferred rent 15,999 11,403
Other 17,212 21,972
Total deferred tax assets 147,346 138,261
Deferred tax liabilities [Abstract]    
Goodwill (417,688) (541,628)
Fixed assets (63,090) (118,398)
Total deferred tax liabilities (480,778) (660,026)
Net deferred tax liabilities $ (333,432) $ (521,765)
v3.21.1
COMMON STOCK AND STOCK OPTIONS (Details)
12 Months Ended
Dec. 31, 2020
Plan
shares
Dec. 31, 2019
shares
Dec. 31, 2018
shares
COMMON STOCK AND STOCK OPTIONS [Abstract]      
Common stock authorized for issuance of outstanding options (in shares) 575,750 456,870  
Preferred stock, authorized (in shares) 5,000,000 5,000,000  
Preferred stock, issued (in shares) 0 0  
Share-based Compensation Arrangement [Abstract]      
Number of stock option plans | Plan 2    
Number of shares authorized for issuance (in shares) 575,750 456,870  
Stock Options [Member]      
Share-based Compensation Arrangement [Abstract]      
Number of share options outstanding (in shares) 575,750 456,870 376,850
Long-Term Incentive Plan 2009 [Member]      
COMMON STOCK AND STOCK OPTIONS [Abstract]      
Common stock authorized for issuance of outstanding options (in shares) 1,000,000    
Share-based Compensation Arrangement [Abstract]      
Number of shares authorized for issuance (in shares) 1,000,000    
Long-Term Incentive Plan 2009 [Member] | Stock Options [Member]      
Share-based Compensation Arrangement [Abstract]      
Number of share options outstanding (in shares) 393,650 456,870  
Options expiration period from grant date, maximum 10 years    
Award requisite service period 4 years    
Long-Term Incentive Plan 2020 [Member]      
COMMON STOCK AND STOCK OPTIONS [Abstract]      
Common stock authorized for issuance of outstanding options (in shares) 1,000,000    
Share-based Compensation Arrangement [Abstract]      
Number of shares authorized for issuance (in shares) 1,000,000    
Long-Term Incentive Plan 2020 [Member] | Stock Options [Member]      
Share-based Compensation Arrangement [Abstract]      
Number of share options outstanding (in shares) 182,100    
Options expiration period from grant date, maximum 10 years    
Award requisite service period 4 years    
v3.21.1
COMMON STOCK AND STOCK OPTIONS, Activity (Details) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Stock-based compensation expense for stock options [Abstract]    
Stock-based compensation expense $ 54,860 $ 54,913
Common stock reserved for granting of additional options (in shares) 817,900  
Fair value of options granted $ 206,087 $ 125,832
Fair Value Assumptions Used in the Valuation of Stock Options [Abstract]    
Risk-free interest rate 0.26% 1.78%
Expected volatility factor 72.57% 64.00%
Expected dividends 0.05% 0.05%
Expected life of the option 7 years 2 months 1 day 9 years
Stock Options [Member]    
Number of Share [Roll Forward]    
Outstanding at beginning of period (in shares) 456,870 376,850
Granted (in shares) 182,100 195,800
Expired (in shares) (26,000)  
Forfeited (in shares) (37,220) (115,780)
Outstanding at end of period (in shares) 575,750 456,870
Weighted Average Exercise Price [Roll Forward]    
Outstanding at beginning of period (in dollars per share) $ 2.30 $ 2.98
Granted (in dollars per share) 2.17 1.45
Expired (in dollars per share) 4.62  
Forfeited (in dollars per share) 2.15 3.06
Outstanding at end of period (in dollars per share) $ 2.17 $ 2.30
Long-Term Incentive Plan 2009 [Member]    
Number of Share [Roll Forward]    
Granted (in shares) 0  
Long-Term Incentive Plan 2009 [Member] | Stock Options [Member]    
Number of Share [Roll Forward]    
Outstanding at beginning of period (in shares) 456,870  
Outstanding at end of period (in shares) 393,650 456,870
Data and Product Costs [Member]    
Stock-based compensation expense for stock options [Abstract]    
Stock-based compensation expense $ 19,928 $ 22,460
Selling, General and Administrative Costs [Member]    
Stock-based compensation expense for stock options [Abstract]    
Stock-based compensation expense $ 34,932 $ 32,453
v3.21.1
COMMON STOCK AND STOCK OPTIONS, Summary Information About Stock Options Outstanding (Details) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation [Abstract]    
Options outstanding, number outstanding (in shares) 575,750  
Options outstanding, weighted average remaining contractual life 6 years 6 months 11 days  
Outstanding options, weighted average exercise price (in dollars per share) $ 2.17  
Options exercisable, number exercisable (in shares) 89,900  
Options exercisable, weighted average exercise price (in dollars per share) $ 3.30  
Stock options, compensation cost not yet recognized [Abstract]    
Total compensation cost not yet recognized $ 407,771  
Total compensation cost not yet recognized, period for recognition 5 years 10 months 6 days  
Stock Options [Member]    
Additional disclosures [Abstract]    
Share price (in dollars per share) $ 2.35 $ 1.57
Aggregate intrinsic value of options outstanding $ 23,046 $ 238,548
Exercise Price Range $ 1.00 - $ 2.00 [Member]    
Share-based Compensation [Abstract]    
Range of exercise prices, lower range limit (in dollars per share) $ 1.00  
Range of exercise prices, upper range limit (in dollars per share) $ 2.00  
Options outstanding, number outstanding (in shares) 256,100  
Options outstanding, weighted average remaining contractual life 8 years 4 months 10 days  
Outstanding options, weighted average exercise price (in dollars per share) $ 1.52  
Options exercisable, number exercisable (in shares) 0  
Options exercisable, weighted average exercise price (in dollars per share) $ 0  
Exercise Price Range $ 2.01 - $ 3.00 [Member]    
Share-based Compensation [Abstract]    
Range of exercise prices, lower range limit (in dollars per share) 2.01  
Range of exercise prices, upper range limit (in dollars per share) $ 3.00  
Options outstanding, number outstanding (in shares) 279,100  
Options outstanding, weighted average remaining contractual life 5 years 8 months 1 day  
Outstanding options, weighted average exercise price (in dollars per share) $ 2.42  
Options exercisable, number exercisable (in shares) 57,350  
Options exercisable, weighted average exercise price (in dollars per share) $ 2.49  
Exercise Price Range $ 3.01 - $ 6.00 [Member]    
Share-based Compensation [Abstract]    
Range of exercise prices, lower range limit (in dollars per share) 3.01  
Range of exercise prices, upper range limit (in dollars per share) $ 6.00  
Options outstanding, number outstanding (in shares) 40,550  
Options outstanding, weighted average remaining contractual life 10 months 2 days  
Outstanding options, weighted average exercise price (in dollars per share) $ 4.51  
Options exercisable, number exercisable (in shares) 32,550  
Options exercisable, weighted average exercise price (in dollars per share) $ 4.73  
v3.21.1
PROPERTY AND EQUIPMENT (Details) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Property and Equipment [Abstract]    
Property and equipment, gross $ 2,502,530 $ 2,233,410
Less accumulated depreciation and amortization (1,956,855) (1,755,437)
Property and equipment, net 545,675 477,973
Computer Equipment and Software [Member]    
Property and Equipment [Abstract]    
Property and equipment, gross 1,720,814 1,485,579
Furniture and Fixtures [Member]    
Property and Equipment [Abstract]    
Property and equipment, gross 512,975 507,503
Leasehold Improvements [Member]    
Property and Equipment [Abstract]    
Property and equipment, gross $ 268,741 $ 240,328
v3.21.1
OPERATING LEASE (Details) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Operating Lease Undiscounted Cash Flows [Abstract]    
2021 $ 262,970  
2022 270,859  
2023 278,985  
2024 287,355  
2025 295,975  
Thereafter 1,473,078