0001437749-20-022389 | 10-Q | XBRL Viewer

Inventory Disclosure [Text Block]

Note 2 – Inventories:

	*September 30,*			*December 31,*
	*2020*			*2019*
Raw Materials and Work in Process	$	6,894,283		$	4,453,498
Packaging Components Material		1,502,385			1,419,155
Finished Goods		9,589,548			6,842,359
		17,986,216			12,715,012
Reserve for Obsolete Inventory		(475,377	)		(172,743	)
	$	17,510,839		$	12,542,269

Note 9 - Earnings Per Share Attributable to Common Shareholder

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Text Block]

Note 9 – Earnings Per Share Attributable to Common Shareholder:

Basic net earnings (loss) per share of common stock is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net earnings (loss) per share of common stock is computed by giving effect to all potentially dilutive securities.

The following table includes adjustments between weighted average common shares outstanding, for basic earnings per share and weighted average common shares outstanding for diluted earnings per share.

For the three and nine months ended September 30, 2020 and 2019, there were no adjustments between net loss and net loss attributable to common stockholders.

	*Three months ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*
Net Income (Loss) Attributable to Common Stockholders	$	3,547,033	$	3,067,163	$	109,894

Weighted Average Common Shares Outstanding, Basic		40,560,104		36,079,935		39,451,675
Dilutive Effect of Share-Based Awards:
Service Period Stock Options		977,604		1,037,873		880,177
Restricted Stock Units		141,020		152,661		121,263
Performance		21,135		19,009		20,175
Weighted Average Common Shares Outstanding, Diluted		41,699,862		37,289,478		40,473,290

Basic Earnings per Share	$	0.09	$	0.09	$	0.00
Diluted Earnings per Share	$	0.09	$	0.08	$	0.00

The potentially dilutive securities are as follows:

	Nine Months Ended
	September 30,
	2019
Service Period Stock Options		1,535,762
Restricted Stock Units		234,091
Performance Stock Options		24,246
Total		1,794,099

For the nine months ended September 30, 2019, diluted net loss per share of common stock is the same as basic net loss per share of common stock, due to the fact that potentially dilutive securities would have an antidilutive effect as the Company incurred a net loss during such period.

Performance awards are excluded from the calculation of dilutive potential common shares until the threshold performance conditions have been satisfied.

Note 7 - Leases (Tables)

9 Months Ended

Sep. 30, 2020

Lease, Cost [Table Text Block]

Weighted-average remaining lease term			5.53
Weighted-average discount rate			6.14	%

	*For the Three Months Ended*				*For the Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
Operating lease cost	$	446,598	$	452,155	$	1,349,055	$	1,153,370

	*For the Three Months Ended*				*For the Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	432,786	$	395,408	$	1,273,994	$	1,022,188

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

	*September 30,*
	*2020*

2020 (a)		432,786
2021		1,760,250
2022		1,767,797
2023		1,802,007
2024		1,511,214
2025 and beyond		2,786,004
Total lease payments		10,060,058
Less: Imputed interest		(1,358,752	)
Present value of lease liabilities	$	8,701,306

Note 11 - Commitments and Contingencies (Details Textual) - USD ($)

Sep. 30, 2020

Dec. 31, 2019

Accrued Legal Contingencies, Current

^[1]

$ 0

$ 10,100,000

Meldon v. Freshpet, Inc. [Member]

Accrued Legal Contingencies, Current

$ 200,000

[1]	See Note 11 for additional information.

Note 5 - Accrued Expenses (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Accrued Liabilities [Table Text Block]

	*September 30,*		*December 31,*
	*2020*		*2019*
Legal Contingency (1)		-		10,100,000
Accrued Compensation and Employee Related Costs		5,302,127		6,390,692
Accrued Chiller Cost		2,129,179		1,576,214
Accrued Customer Consideration		972,344		635,399
Accrued Freight		1,072,878		702,673
Accrued Production Expenses		839,193		413,550
Accrued Marketing		531,966		1,187,885
Other Accrued Expenses		1,110,633		1,126,515
	$	11,958,320	$	22,132,928

Note 12 - Subsequent Events

9 Months Ended

Sep. 30, 2020

Subsequent Events [Text Block]

Note 12 – Subsequent Events:

The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued for recognitions or disclosures.

The Company did not identify any recognized or unrecognized subsequent events that have required adjustment or disclosure in the financial statements.

Note 7 - Leases

9 Months Ended

Sep. 30, 2020

Lessee, Operating Leases [Text Block]

Note 7– Leases:

We have various noncancelable lease agreements for office and warehouse space, as well as office equipment, with original remaining lease terms of two years to nine years, some of which include an option to extend the lease term for up to five years. Because the Company is not reasonably certain to exercise these renewal options, the options are not considered in determining the lease term and associated potential option payments are excluded from lease payments. The Company’s leases generally do not include termination options for either party to the lease or restrictive financial or other covenants.

Weighted-average remaining lease term (in years) and discount rate related to operating leases were as follows:

Weighted-average remaining lease term			5.53
Weighted-average discount rate			6.14	%

As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date to determine the present value of lease payments.

Maturities of lease liabilities under noncancelable operating leases as of September 30, 2020 were as follows:

	*September 30,*
	*2020*

2020 (a)		432,786
2021		1,760,250
2022		1,767,797
2023		1,802,007
2024		1,511,214
2025 and beyond		2,786,004
Total lease payments		10,060,058
Less: Imputed interest		(1,358,752	)
Present value of lease liabilities	$	8,701,306

(a)

Excluding the nine months ended September 30, 2020.

A summary of rent expense for the three and nine months ended September 30, 2020 and 2019 was as follows:

	*For the Three Months Ended*				*For the Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
Operating lease cost	$	446,598	$	452,155	$	1,349,055	$	1,153,370

Supplemental cash flow information and non-cash activity relating to operating leases are as follows:

	*For the Three Months Ended*				*For the Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	432,786	$	395,408	$	1,273,994	$	1,022,188

Note 2 - Inventories (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Inventory, Current [Table Text Block]

	*September 30,*			*December 31,*
	*2020*			*2019*
Raw Materials and Work in Process	$	6,894,283		$	4,453,498
Packaging Components Material		1,502,385			1,419,155
Finished Goods		9,589,548			6,842,359
		17,986,216			12,715,012
Reserve for Obsolete Inventory		(475,377	)		(172,743	)
	$	17,510,839		$	12,542,269

Note 8 - Equity Incentive Plans

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Text Block]

Note 8 – Equity Incentive Plans:

Total compensation cost for share-based payments recognized for the three months ended September 30, 2020 and 2019 is $3,409,728 and $3,129,648, respectively. Total compensation cost for share-based payments recognized for the nine months ended September 30, 2020 and 2019 is $7,984,490 and $5,870,657, respectively.

2010 Stock Plan—The outstanding options are time-based (vest between two and four years). At September 30, 2020, there were zero shares available for grant as the 2010 Plan is frozen. The total number of unexercised options for the 2010 Plan is 53,028.

2014 Omnibus Incentive Plan—In November 2014, the Company approved the 2014 Omnibus Incentive Plan (the “2014 Plan”). In September 2020, the 2014 Plan was amended to allow for the granting of an additional 700,000 shares of common stock to be issued or used for reference purposes as awards granted, for an available total of 4,679,200 shares. These awards may be in the form of stock options, stock appreciation rights, restricted stock, as well as other stock-based and cash-based awards. At September 30, 2020, the awards granted were either time-based, performance-based (vest when performance targets are met, as defined in the stock option grant agreement), or restricted stock units (employee RSUs vest over three years or cliff vest, as defined in the restricted stock agreement, and non-employee director RSUs vest over one year). The total number of unexercised options and RSUs for the 2014 Plan is 2,548,891.

At September 30, 2020, there were 1,344,050 shares of common stock available to be issued or used for reference purposes under the 2014 Plan.

NASDAQ Marketplace Rules Inducement Award—During fiscal year 2016 and the nine months ended September 30, 2020, share-based awards were granted to the Company’s Chief Executive Officer and the Executive Vice President of Finance, at the time, who is currently Chief Financial Officer, respectively, as an inducement under the NASDAQ Marketplace Rules, and therefore outside of any Plan. Under the terms of the applicable agreement, each grant is governed as if issued under the 2014 Omnibus Plan. The awards are time-based (cliff vest over four years and three years, respectively) and performance-based (vest when performance targets are met, as defined in the stock option grant agreement).

Service Period Stock Options

The following table includes activity related to outstanding service period stock options during the nine months ended September 30, 2020.

Service Period Stock Options	*Shares*			*Weighted Average Exercise Price*
Outstanding at December 31, 2019		1,359,990		$	11.50
Granted		59,782			65.62
Exercised		(361,446	)		8.86
Forfeited		(357	)		11.00
Outstanding at September 30, 2020		1,057,969		$	15.46

Performance-Vested Stock Options

The following table includes activity related to outstanding performance-vested stock options during the nine months ended September 30, 2020.

Performance Based Options	*Shares*			*Weighted Average Exercise Price*
Outstanding at December 31, 2019		1,372,819		$	18.31
Granted		19,317			63.87
Exercised		(46,595	)		31.54
Outstanding at September 30, 2020		1,345,541		$	18.51

As of September 30, 2020, 1,285,774 performance-vested stock options at a weighted average exercise price of $18.66 have performance metrics that are probable of achievement. These shares are included in share-based compensation costs for the nine months ended September 30, 2020.

Restricted Stock Units

The following table includes activity related to outstanding restricted stock units during the nine months ended September 30, 2020.

Restricted Stock Units	*Shares*			*Weighted-Average Grant-Date Fair Value Per Unit*
Outstanding at December 31, 2019		240,229		$	29.07
Granted		55,163			64.58
Issued upon vesting		(100,587	)		30.74
Forfeited		(1,102	)		41.88
Outstanding at September 30, 2020		193,703		$	38.24

Note 8 - Equity Incentive Plans - Options Activity (Details)	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Service Period Stock Options [Member]
Outstanding at December 31, 2019 (in shares) \| shares	1,359,990
Outstanding at December 31, 2019, weighted average exercise price (in dollars per share) \| $ / shares	$ 11.50
Granted (in shares) \| shares	59,782
Granted, weighted average exercise price (in dollars per share) \| $ / shares	$ 65.62
Exercised (in shares) \| shares	(361,446)
Exercised, weighted average exercise price (in dollars per share) \| $ / shares	$ 8.86
Forfeited (in shares) \| shares	(357)
Forfeited, weighted average exercise price (in dollars per share) \| $ / shares	$ 11.00
Outstanding at September 30, 2020 (in shares) \| shares	1,057,969
Outstanding at June 30, 2020, weighted average exercise price (in dollars per share) \| $ / shares	$ 15.46
Performance Shares [Member]
Outstanding at December 31, 2019 (in shares) \| shares	1,372,819
Outstanding at December 31, 2019, weighted average exercise price (in dollars per share) \| $ / shares	$ 18.31
Granted (in shares) \| shares	19,317
Granted, weighted average exercise price (in dollars per share) \| $ / shares	$ 63.87
Exercised (in shares) \| shares	(46,595)
Exercised, weighted average exercise price (in dollars per share) \| $ / shares	$ 31.54
Outstanding at September 30, 2020 (in shares) \| shares	1,345,541
Outstanding at June 30, 2020, weighted average exercise price (in dollars per share) \| $ / shares	$ 18.51

Note 6 - Debt (Details Textual) - USD ($)		9 Months Ended		12 Months Ended
Note 6 - Debt (Details Textual) - USD ($)	Apr. 17, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	May 15, 2019
Proceeds from Lines of Credit, Total		$ 20,933,000	$ 50,620,988
Repayments of Lines of Credit		76,000,000	$ 15,900,000
Amortization of Debt Issuance Costs		800,000
Unamortized Debt Issuance Expense		1,300,000
Credit Facility [Member]
Debt Agreement, Maximum Borrowing Capacity	$ 165,000,000.0
Long-term Debt, Total		0
Proceeds from Debt Agreement		20,900,000		$ 54,500,000
Repayments of Lines of Credit		76,000,000.0
Credit Facility [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Credit Facility [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Credit Facility [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 35,000,000.0				$ 35,000,000.0
Proceeds from Lines of Credit, Total		7,000,000.0		14,000,000.0
Credit Facility [Member] \| Draw Term Loan [Member]
Long-term Debt, Total	$ 130,000,000.0				$ 55,000,000.0
Proceeds from Issuance of Long-term Debt, Total		13,900,000		40,500,000
Debt Issuance Costs, Net, Total		$ 100,000		$ 600,000

Note 9 - Earnings Per Share Attributable to Common Shareholder - Schedule of Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net Income (Loss) Attributable to Common Stockholders	$ 3,547,033	$ 3,067,163	$ 109,894
Weighted Average Common Shares Outstanding, Basic (in shares)	40,560,104	36,079,935	39,451,675	35,894,377
Weighted Average Common Shares Outstanding, Diluted (in shares)	41,699,862	37,289,478	40,473,290	35,894,377
Basic Earnings per Share (in dollars per share)	$ 0.09	$ 0.09	$ 0.00	$ (0.17)
Diluted Earnings per Share (in dollars per share)	$ 0.09	$ 0.08	$ 0.00	$ (0.17)
Service Period Stock Options [Member]
Effect of Share-Based Awards (in shares)	977,604	1,037,873	880,177
Restricted Stock Units (RSUs) [Member]
Effect of Share-Based Awards (in shares)	141,020	152,661	121,263
Performance Shares [Member]
Effect of Share-Based Awards (in shares)	21,135	19,009	20,175

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1377-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2020	Oct. 30, 2020
Document Information [Line Items]
Entity Central Index Key	0001611647
Entity Registrant Name	Freshpet INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-36729
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1884894
Entity Address, Address Line One	400 Plaza Drive, 1st Floor
Entity Address, City or Town	Secaucus
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07094
City Area Code	201
Local Phone Number	520-4000
Title of 12(b) Security	Common Stock
Trading Symbol	FRPT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		40,640,010

Note 3 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Property, plant and equipment, gross	$ 325,380,577	$ 241,687,206
Less: Accumulated Depreciation	(83,081,430)	(76,399,609)
Property, Plant and Equipment, Net, Ending Balance	242,299,147	165,287,597
Refrigeration Equipment [Member]
Property, plant and equipment, gross	104,739,451	97,568,137
Machinery and Equipment [Member]
Property, plant and equipment, gross	70,312,048	54,274,118
Land, Buildings and Improvements [Member]
Property, plant and equipment, gross	27,388,013	25,621,495
Furniture and Office Equipment [Member]
Property, plant and equipment, gross	5,091,775	4,931,703
Leasehold Improvements [Member]
Property, plant and equipment, gross	740,385	395,241
Automotive Equipment [Member]
Property, plant and equipment, gross	159,819	309,137
Construction in Progress [Member]
Property, plant and equipment, gross	$ 116,949,086	$ 58,587,375

Note 1 - Nature of the Business and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2020

Disaggregation of Revenue [Table Text Block]

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
Grocery (including Online), Mass and Club	$	71,025,035	$	54,712,007	$	200,128,333	$	150,340,440
Pet Specialty and Natural		13,164,877		10,553,894		34,139,443		29,769,842
Net Sales	$	84,189,912	$	65,265,901	$	234,267,776	$	180,110,282

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	200,000,000	200,000,000
Common stock, issued (in shares)	40,645,047	36,162,433
Common stock, outstanding (in shares)	40,630,878	36,148,264
Treasury stock, shares (in shares)	14,169	14,169

Note 1 - Nature of the Business and Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2020

Business Description and Accounting Policies [Text Block]

Note 1 – Nature of the Business and Summary of Significant Accounting Policies:

Nature of the Business – Freshpet, Inc. (hereafter referred to as “Freshpet”, the “Company”, “we” or “our”), a Delaware corporation, manufactures and markets natural fresh meals and treats for dogs and cats. The Company’s products are distributed throughout the United States and other international markets, into major retail classes including Grocery (including online), Mass and Club, Pet Specialty, and Natural retail.

Basis of Presentation – The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”). The unaudited consolidated financial statements include the accounts of the Company as well as the Company’s wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The interim unaudited consolidated financial statements have been prepared on the same basis as the annual audited consolidated financial statements and in accordance with the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). In the opinion of management, the interim unaudited financial statements reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of September 30, 2020, the results of its operations and changes to stockholders’ equity for the three and nine months ended September 30, 2020 and 2019, and its cash flows for the nine months ended September 30, 2020 and 2019. The results for the three and nine months ended September 30, 2020 are not necessarily indicative of results to be expected for the year ending December 31, 2020, or any other interim periods, or any future year or period. Certain amounts that appear in this report may not add up because of differences due to rounding.

These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Item 8 of Part II, “Financial Statements and Supplementary Data,” of our Annual Report on Form 10-K for the year ended December 31, 2019.

Equity method investment – The Company utilizes the equity method to account for investments when the Company possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when an investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. The Company applies the equity method to investments in common stock and to other investments when such other investments possess substantially identical subordinated interests to common stock. The Company has elected to record its share of equity in income (losses) of equity method investment on a one-quarter lag based on the most recently available financial statements.

In applying the equity method, the Company records the investment at cost and subsequently increases or decreases the carrying amount of the investment by our proportionate share of the net income or loss.

Variable interest entities ("VIEs") – In accordance with the applicable accounting guidance for the consolidation of variable interest entities, the Company analyzes its variable interests to determine if an entity in which it has a variable interest is a variable interest entity. The Company's analysis includes both quantitative and qualitative reviews to determine if we must consolidate a variable interest entity as its primary beneficiary.

Estimates and Uncertainties – The preparation of our consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results, as determined at a later date, could differ from those estimates.

Fair Value of Financial Instruments – Financial Accounting Standards Board (“FASB”) guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement).

The three levels of the fair value hierarchy are as follows:

• Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities.

• Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active). Level 2 includes financial instruments that are valued using models or other valuation methodologies.

• Level 3 - Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.

The carrying amounts reported in the balance sheets for cash and cash equivalents, short-term investments, other receivables, accounts payable and accrued expenses approximate their fair value based on the short-term maturity of these instruments. Certain assets, including the equity method investment, right-of-use assets and property and equipment are also subject to measurement at fair value on a non-recurring basis if they are deemed to be impaired as a result of an impairment review.

As of September 30, 2020, the Company's Short-term investments are level 2 assets. All other assets and all liabilities are level 1 assets and liabilities.


Short-Term Investments – The Company holds interest-bearing certificates of deposits with financial institutions with maturities ranging from three months to one year. Certificates of deposit are classified as short-term investments and interest is recorded as other income.

Trade accounts receivable – The allowance for doubtful accounts is based on the Company's assessment of the collectability of customer accounts. The Company regularly reviews the allowance by considering factors such as historical experience, credit quality, the age of the accounts receivable balances and current economic conditions that may affect a customer's ability to pay.

Restricted Stock Tax Withholdings – To meet payroll tax withholdings obligations arising from the vesting of restricted share units, the Company withheld 25,967 shares totaling $1.6 million for the nine months ended September 30, 2020, and withheld 31,734 shares totaling $1.3 million for the nine months ended September 30, 2019. No shares were withheld during the three months ended September 30, 2020 and 2019. Shares of common stock withheld for tax withholdings do not reduce the Company’s total share repurchase authority.

Debt Issuance Cost – During the first quarter of 2020, the Company paid the outstanding balance of the Delayed Draw Term Loan associated with the Fourth Amended and Restated Loan and Security Agreement and wrote down $0.6 million of the related fees to interest expense.

During the second quarter of 2020, as part of the Fifth Amended and Restated Loan and Security Agreement (as amended, the "New Loan Agreement"), the Company incurred an additional $0.8 million of fees associated with the debt modification, of which $0.6 million of the fees were related to the Delayed Draw Term Loan with the remaining balance relating to the Revolving Loan Facility. The Company’s policy is to record the debt issuance cost related to the Delayed Draw Term Loan, net of debt, for the portion of the Delayed Draw Term Loan that is outstanding, with the remaining amount recorded within assets. As of September 30, 2020, there was $1.1 million of debt issuance cost that were recorded to other assets and less than $0.3 million was recorded to other current assets.

The Company amortizes debt issuance costs categorized as assets on a straight-line basis over the term of the loan and amortizes the debt issuance costs that are categorized net of debt using the effective interest method, over the term of the loan.

Net Sales - Information about the Company’s net sales by class of retailer is as follows:

Three Months Ended

Nine Months Ended

September 30,

September 30,

2020

2019

2020

2019

Grocery (including Online), Mass and Club
$ 71,025,035 $ 54,712,007 $ 200,128,333 $ 150,340,440

Pet Specialty and Natural
13,164,877 10,553,894 34,139,443 29,769,842

Net Sales
$ 84,189,912 $ 65,265,901 $ 234,267,776 $ 180,110,282

Recently Issued Accounting Standards

In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The standard requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. The new guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The reported results for the three and nine months ended September 30, 2020 reflect the application of ASU 2016-13. The application of the update did not have a material impact to our allowance for doubtful accounts. Please see the description of the Company’s “Trade accounts receivable” accounting policy above.

In January 2020, the FASB issued Accounting Standards Update No. 2020-01, Investments - Equity Services (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. The standard addresses accounting for the transition into and out of the equity method and measurement of certain purchased options and forward contracts to acquire investments. The standard is effective for annual and interim periods beginning after December 15, 2020, with early adoption permitted. Adoption of the standard requires changes to be made prospectively. The Company is in the process of evaluating the impact the adoption of this standard will have, however, the Company does not expect the adoption of this standard to have a material impact on their financial condition and results of operations.

Note 8 - Equity Incentive Plans (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount, Total		$ 3,409,728	$ 3,129,648	$ 7,984,490	$ 5,870,657
NASDAQ Marketplace Rules Inducement Award [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				4 years
NASDAQ Marketplace Rules Inducement Award [Member] \| Executive Vice President of Finance [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				3 years
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares)	1,285,774	1,285,774		1,285,774
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 18.66	$ 18.66		$ 18.66
Stock Plan 2010 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	0	0		0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number (in shares)	53,028	53,028		53,028
Stock Plan 2010 [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				2 years
Stock Plan 2010 [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				4 years
Omnibus Incentive Plan 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	2,548,891	2,548,891		2,548,891
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)	700,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares)	4,679,200	4,679,200		4,679,200
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	1,344,050	1,344,050		1,344,050
Omnibus Incentive Plan 2014 [Member] \| Restricted Stock Units (RSUs) [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Omnibus Incentive Plan 2014 [Member] \| Restricted Stock Units (RSUs) [Member] \| Non-employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	1 year

Note 8 - Equity Incentive Plans (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement, Option, Activity [Table Text Block]

Service Period Stock Options	*Shares*			*Weighted Average Exercise Price*
Outstanding at December 31, 2019		1,359,990		$	11.50
Granted		59,782			65.62
Exercised		(361,446	)		8.86
Forfeited		(357	)		11.00
Outstanding at September 30, 2020		1,057,969		$	15.46

Performance Based Options	*Shares*			*Weighted Average Exercise Price*
Outstanding at December 31, 2019		1,372,819		$	18.31
Granted		19,317			63.87
Exercised		(46,595	)		31.54
Outstanding at September 30, 2020		1,345,541		$	18.51

Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

Restricted Stock Units	*Shares*			*Weighted-Average Grant-Date Fair Value Per Unit*
Outstanding at December 31, 2019		240,229		$	29.07
Granted		55,163			64.58
Issued upon vesting		(100,587	)		30.74
Forfeited		(1,102	)		41.88
Outstanding at September 30, 2020		193,703		$	38.24

Note 5 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($)

Sep. 30, 2020

Dec. 31, 2019

Legal Contingency (1)

^[1]

$ 0

$ 10,100,000

Accrued Compensation and Employee Related Costs

5,302,127

6,390,692

Accrued Chiller Cost

2,129,179

1,576,214

Accrued Customer Consideration

972,344

635,399

Accrued Freight

1,072,878

702,673

Accrued Production Expenses

839,193

413,550

Accrued Marketing

531,966

1,187,885

Other Accrued Expenses

1,110,633

1,126,515

Accrued Liabilities, Current, Total

^[1]

$ 11,958,320

$ 22,132,928

[1]	See Note 11 for additional information.

Note 11 - Commitments and Contingencies

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Text Block]

Note 11 – Commitments and Contingencies:

A shareholder derivative lawsuit, Meldon v. Freshpet, Inc. et al, Docket No. 2:18-cv-10166, was instituted June 5, 2018 in the United States District Court for the District of New Jersey against us and certain of our current and former executive officers and directors on behalf of certain holders of our common stock. We were served with a copy of the complaint in June 2018. The plaintiffs seek to recover damages for investors based on state law claims (alleged breaches of fiduciary duty, waste, and unjust enrichment) in connection with the alleged violations of federal securities laws alleged in the Curran action. On April 3, 2019, the Court granted a stay of the Meldon case pending resolution of certain matters in a related case, Curran v. Freshpet, Inc., which has been settled. The parties to the Meldon action then entered into settlement discussions, after which the parties reached an agreement in principle to settle the case based on the Company’s commitment to continue certain governance practices. The parties also reached agreement on attorneys’ fees. The settlement was approved and certified on August 4, 2020. As of September 30, 2020, the settlement funds due were paid by the Company's insurers, totaling $0.2 million.

In addition, we are currently involved in various claims and legal actions that arise in the ordinary course of our business, including claims resulting from employment related matters. None of these claims or proceedings, most of which are covered by insurance, are expected to have a material adverse effect on our business, financial condition, results of operations or cash flows. However, a significant increase in the number of these claims or an increase in amounts owing under successful claims could materially and adversely affect our business, financial condition, results of operations or cash flows.

Note 9 - Earnings Per Share Attributable to Common Shareholder (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	*Three months ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*
Net Income (Loss) Attributable to Common Stockholders	$	3,547,033	$	3,067,163	$	109,894

Weighted Average Common Shares Outstanding, Basic		40,560,104		36,079,935		39,451,675
Dilutive Effect of Share-Based Awards:
Service Period Stock Options		977,604		1,037,873		880,177
Restricted Stock Units		141,020		152,661		121,263
Performance		21,135		19,009		20,175
Weighted Average Common Shares Outstanding, Diluted		41,699,862		37,289,478		40,473,290

Basic Earnings per Share	$	0.09	$	0.09	$	0.00
Diluted Earnings per Share	$	0.09	$	0.08	$	0.00

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	Nine Months Ended
	September 30,
	2019
Service Period Stock Options		1,535,762
Restricted Stock Units		234,091
Performance Stock Options		24,246
Total		1,794,099

Note 10 - Concentrations

9 Months Ended

Sep. 30, 2020

Concentration Risk Disclosure [Text Block]

Note 10 – Concentrations:

Concentration of Credit Risk—The Company maintains its cash balances in financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 each. At times, such balances may be in excess of the FDIC insurance limit.

Note 3 - Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Table Text Block]

	*September 30,*			*December 31,*
	*2020*			*2019*
Refrigeration Equipment	$	104,739,451		$	97,568,137
Machinery and Equipment		70,312,048			54,274,118
Building, Land, and Improvements		27,388,013			25,621,495
Furniture and Office Equipment		5,091,775			4,931,703
Leasehold Improvements		740,385			395,241
Automotive Equipment		159,819			309,137
Construction in Progress		116,949,086			58,587,375
		325,380,577			241,687,206
Less: Accumulated Depreciation		(83,081,430	)		(76,399,609	)
	$	242,299,147		$	165,287,597

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
NET SALES	$ 84,189,912	$ 65,265,901	$ 234,267,776	$ 180,110,282
COST OF GOODS SOLD	47,535,488	34,560,261	131,890,646	96,163,080
GROSS PROFIT	36,654,424	30,705,640	102,377,130	83,947,202
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES	32,894,793	27,171,138	101,272,838	89,075,672
INCOME (LOSS) FROM OPERATIONS	3,759,631	3,534,502	1,104,292	(5,128,470)
OTHER INCOME/(EXPENSES):
Other Income/(Expenses), net	24,663	(137,624)	69,766	(141,077)
Interest Expense	(215,661)	(310,465)	(999,364)	(688,890)
Nonoperating Income (Expense), Total	(190,998)	(448,089)	(929,598)	(829,967)
INCOME (LOSS) BEFORE INCOME TAXES	3,568,633	3,086,413	174,694	(5,958,437)
INCOME TAX EXPENSE	21,600	19,250	64,800	57,750
INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	3,547,033	3,067,163	109,894	(6,016,187)
OTHER COMPREHENSIVE INCOME (LOSS):
Change in foreign currency translation	368,492	(81,667)	40,881	(143,941)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	368,492	(81,667)	40,881	(143,941)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ 3,915,525	$ 2,985,496	$ 150,775	$ (6,160,128)
NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
-BASIC (in dollars per share)	$ 0.09	$ 0.09	$ 0.00	$ (0.17)
-DILUTED (in dollars per share)	$ 0.09	$ 0.08	$ 0.00	$ (0.17)
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING USED IN COMPUTING NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
-BASIC (in shares)	40,560,104	36,079,935	39,451,675	35,894,377
-DILUTED (in shares)	41,699,862	37,289,478	40,473,290	35,894,377

Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Nature of the Business [Policy Text Block]

Basis of Accounting, Policy [Policy Text Block]

These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes in Item 8 of Part II, “Financial Statements and Supplementary Data,” of our Annual Report on Form 10-K for the year ended December 31, 2019.

Equity Method Investments [Policy Text Block]

Equity method investment – The Company utilizes the equity method to account for investments when the Company possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when an investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. The Company applies the equity method to investments in common stock and to other investments when such other investments possess substantially identical subordinated interests to common stock. The Company has elected to record its share of equity in income (losses) of equity method investment on a one-quarter lag based on the most recently available financial statements.

In applying the equity method, the Company records the investment at cost and subsequently increases or decreases the carrying amount of the investment by our proportionate share of the net income or loss.

Consolidation, Variable Interest Entity, Policy [Policy Text Block]

Variable interest entities ("VIEs") – In accordance with the applicable accounting guidance for the consolidation of variable interest entities, the Company analyzes its variable interests to determine if an entity in which it has a variable interest is a variable interest entity. The Company's analysis includes both quantitative and qualitative reviews to determine if we must consolidate a variable interest entity as its primary beneficiary.

Use of Estimates, Policy [Policy Text Block]

Estimates and Uncertainties – The preparation of our consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results, as determined at a later date, could differ from those estimates.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments – Financial Accounting Standards Board (“FASB”) guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement).

The three levels of the fair value hierarchy are as follows:

	•	Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities.
	•	Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active). Level 2 includes financial instruments that are valued using models or other valuation methodologies.
	•	Level 3 - Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable.

The carrying amounts reported in the balance sheets for cash and cash equivalents, short-term investments, other receivables, accounts payable and accrued expenses approximate their fair value based on the short-term maturity of these instruments. Certain assets, including the equity method investment, right-of-use assets and property and equipment are also subject to measurement at fair value on a non-recurring basis if they are deemed to be impaired as a result of an impairment review.

As of September 30, 2020, the Company's Short-term investments are level 2 assets. All other assets and all liabilities are level 1 assets and liabilities.

Marketable Securities, Policy [Policy Text Block]

Short-Term Investments – The Company holds interest-bearing certificates of deposits with financial institutions with maturities ranging from three months to one year. Certificates of deposit are classified as short-term investments and interest is recorded as other income.

Receivable [Policy Text Block]

Trade accounts receivable – The allowance for doubtful accounts is based on the Company's assessment of the collectability of customer accounts. The Company regularly reviews the allowance by considering factors such as historical experience, credit quality, the age of the accounts receivable balances and current economic conditions that may affect a customer's ability to pay.

Restricted Stock Tax Withholdings [Policy Text Block]

Restricted Stock Tax Withholdings – To meet payroll tax withholdings obligations arising from the vesting of restricted share units, the Company withheld 25,967 shares totaling $1.6 million for the nine months ended September 30, 2020, and withheld 31,734 shares totaling $1.3 million for the nine months ended September 30, 2019. No shares were withheld during the three months ended September 30, 2020 and 2019. Shares of common stock withheld for tax withholdings do not reduce the Company’s total share repurchase authority.

Debt Issuance Cost [Policy Text Block]

Debt Issuance Cost – During the first quarter of 2020, the Company paid the outstanding balance of the Delayed Draw Term Loan associated with the Fourth Amended and Restated Loan and Security Agreement and wrote down $0.6 million of the related fees to interest expense.

During the second quarter of 2020, as part of the Fifth Amended and Restated Loan and Security Agreement (as amended, the "New Loan Agreement"), the Company incurred an additional $0.8 million of fees associated with the debt modification, of which $0.6 million of the fees were related to the Delayed Draw Term Loan with the remaining balance relating to the Revolving Loan Facility. The Company’s policy is to record the debt issuance cost related to the Delayed Draw Term Loan, net of debt, for the portion of the Delayed Draw Term Loan that is outstanding, with the remaining amount recorded within assets. As of September 30, 2020, there was $1.1 million of debt issuance cost that were recorded to other assets and less than $0.3 million was recorded to other current assets.

The Company amortizes debt issuance costs categorized as assets on a straight-line basis over the term of the loan and amortizes the debt issuance costs that are categorized net of debt using the effective interest method, over the term of the loan.

Revenue from Contract with Customer [Policy Text Block]

Net Sales - Information about the Company’s net sales by class of retailer is as follows:

	*Three Months Ended*				*Nine Months Ended*
	*September 30,*				*September 30,*
	*2020*		*2019*		*2020*		*2019*
Grocery (including Online), Mass and Club	$	71,025,035	$	54,712,007	$	200,128,333	$	150,340,440
Pet Specialty and Natural		13,164,877		10,553,894		34,139,443		29,769,842
Net Sales	$	84,189,912	$	65,265,901	$	234,267,776	$	180,110,282

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards

In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The standard requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. The new guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The reported results for the three and nine months ended September 30, 2020 reflect the application of ASU 2016-13. The application of the update did not have a material impact to our allowance for doubtful accounts. Please see the description of the Company’s “Trade accounts receivable” accounting policy above.

In January 2020, the FASB issued Accounting Standards Update No. 2020-01, Investments - Equity Services (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. The standard addresses accounting for the transition into and out of the equity method and measurement of certain purchased options and forward contracts to acquire investments. The standard is effective for annual and interim periods beginning after December 15, 2020, with early adoption permitted. Adoption of the standard requires changes to be made prospectively. The Company is in the process of evaluating the impact the adoption of this standard will have, however, the Company does not expect the adoption of this standard to have a material impact on their financial condition and results of operations.

Note 1 - Nature of the Business and Summary of Significant Accounting Policies - Net Sales by Class of Retailer (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net Sales	$ 84,189,912	$ 65,265,901	$ 234,267,776	$ 180,110,282
Grocery (including Online), Mass and Club [Member]
Net Sales	71,025,035	54,712,007	200,128,333	150,340,440
Pet Specialty and Natural [Member]
Net Sales	$ 13,164,877	$ 10,553,894	$ 34,139,443	$ 29,769,842

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

Note 3 - Property, Plant and Equipment

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment Disclosure [Text Block]

Note 3 – Property, Plant and Equipment:

	*September 30,*			*December 31,*
	*2020*			*2019*
Refrigeration Equipment	$	104,739,451		$	97,568,137
Machinery and Equipment		70,312,048			54,274,118
Building, Land, and Improvements		27,388,013			25,621,495
Furniture and Office Equipment		5,091,775			4,931,703
Leasehold Improvements		740,385			395,241
Automotive Equipment		159,819			309,137
Construction in Progress		116,949,086			58,587,375
		325,380,577			241,687,206
Less: Accumulated Depreciation		(83,081,430	)		(76,399,609	)
	$	242,299,147		$	165,287,597

Depreciation expense related to property, plant and equipment totaled $4,970,451 and $14,708,962 for the three and nine months ended September 30, 2020, respectively, of which $2,128,590 and $6,422,288 was recorded to cost of goods sold for the three and nine months ended September 30, 2020, respectively, with the remainder of depreciation and amortization expense recorded to selling, general and administrative expense.

Depreciation expense related to property, plant and equipment totaled $3,975,822 and $11,462,514 for the three and nine months ended September 30, 2019, respectively, of which $1,598,843 and $4,753,623 was recorded to cost of goods sold for the three and nine months ended September 30, 2019, respectively, with the remainder of depreciation and amortization expense recorded to selling, general and administrative expense.

Note 5 - Accrued Expenses

9 Months Ended

Sep. 30, 2020

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

Note 5 – Accrued Expenses:

	*September 30,*		*December 31,*
	*2020*		*2019*
Legal Contingency (1)		-		10,100,000
Accrued Compensation and Employee Related Costs		5,302,127		6,390,692
Accrued Chiller Cost		2,129,179		1,576,214
Accrued Customer Consideration		972,344		635,399
Accrued Freight		1,072,878		702,673
Accrued Production Expenses		839,193		413,550
Accrued Marketing		531,966		1,187,885
Other Accrued Expenses		1,110,633		1,126,515
	$	11,958,320	$	22,132,928

(1)

See Note 11 for additional information.

Note 2 - Inventories - Summary of Inventories (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Raw Materials and Work in Process	$ 6,894,283	$ 4,453,498
Packaging Components Material	1,502,385	1,419,155
Finished Goods	9,589,548	6,842,359
Inventory, Gross, Total	17,986,216	12,715,012
Reserve for Obsolete Inventory	(475,377)	(172,743)
Inventory, Net, Total	$ 17,510,839	$ 12,542,269

Note 1 - Nature of the Business and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)	0			0	25,967	31,734
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation					$ 1.6	$ 1.3
Amortization of Debt Issuance Costs					0.8
Fees Associated with Debt Modification		$ 0.8
Other Noncurrent Assets [Member]
Debt Issuance Costs, Net, Total	$ 1.1				1.1
Other Current Assets [Member]
Debt Issuance Costs, Net, Total	$ 0.3				$ 0.3
Draw Term Loan [Member]
Amortization of Debt Issuance Costs			$ 0.6
Payments of Debt Restructuring Costs		$ 0.6

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 3,547,033	$ (3,590,233)	$ 3,067,163	$ (3,422,000)	$ 109,894	$ (6,016,187)
Adjustments to reconcile net income (loss) to net cash flows provided by operating activities:
Provision for loss/(gains) on accounts receivable					(3,826)	104,700
Loss on disposal of equipment					1,300,519	138,106
Share-based compensation					7,811,081	5,706,580
Inventory obsolescence					146,830	104,624
Depreciation and amortization					14,945,758	11,707,422
Amortization of deferred financing costs and loan discount					762,555	125,303
Changes in operating assets and liabilities:
Accounts receivable					(3,059,785)	(7,278,751)
Inventories					(5,115,400)	(4,094,386)
Prepaid expenses and other current assets					9,587,093	(10,650,214)
Operating lease right of use					961,962	125,711
Other assets					(221,614)	(608,060)
Accounts payable					(3,021,045)	3,742,265
Accrued expenses					(10,299,608)	10,396,504
Other lease liabilities					(841,870)	(17,018)
Net cash flows from operating activities					13,062,544	3,486,599
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of short-term investments					(20,001,196)	0
Proceeds from maturities of short-term investments					10,001,196	0
Investments in equity method investment					(27,624,501)	0
Acquisitions of property, plant and equipment, software and deposits on equipment					(99,923,887)	(40,738,346)
Net cash flows used in investing activities					(137,548,388)	(40,738,346)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from common shares issued in primary offering, net of issuance cost					252,062,254	0
Proceeds from exercise of options to purchase common stock					4,663,456	3,841,918
Tax withholdings related to net shares settlements of restricted stock units					(1,636,296)	(1,252,953)
Proceeds from borrowings under Credit Facilities					20,933,000	50,620,988
Repayment of borrowings under Credit Facilities					(76,000,000)	(15,900,000)
Financing fees paid in connection with borrowings					(823,532)	(406,859)
Net cash flows provided by financing activities					199,198,882	36,903,094
NET CHANGE IN CASH AND CASH EQUIVALENTS					74,713,038	(348,653)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR		$ 9,471,676		$ 7,554,388	9,471,676	7,554,388	$ 7,554,388
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 84,184,714		$ 7,205,735		84,184,714	7,205,735	$ 9,471,676
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid					925,396	521,688
NON-CASH FINANCING AND INVESTING ACTIVITIES:
Property, plant and equipment purchases in accounts payable					$ 2,670,367	$ 5,781,915

Note 8 - Equity Incentive Plans - Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Outstanding at December 31, 2019 (in shares) \| shares	240,229
Outstanding at December 31, 2019, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 29.07
Granted (in shares) \| shares	55,163
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 64.58
Issued upon vesting (in shares) \| shares	(100,587)
Issued upon vesting, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 30.74
Forfeited (in shares) \| shares	(1,102)
Forfeited, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 41.88
Outstanding at September 30, 2020 (in shares) \| shares	193,703
Outstanding at June 30, 2020, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 38.24

Note 4 - Equity Method Investment (Details Textual) - USD ($)		9 Months Ended
	Sep. 02, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Payments to Acquire Equity Method Investments		$ 27,624,501	$ (0)
Equity Method Investments		27,749,501		$ 0
Income (Loss) from Equity Method Investments, Total		$ 0
Privately Held Company [Member]
Equity Method Investment, Ownership Percentage	19.00%
Payments to Acquire Equity Method Investments	$ 27,700,000
Equity Method Investments	26,600,000
Equity Method Investment, Aggregate Cost	$ 1,100,000

Note 9 - Earnings Per Share Attributable to Common Shareholder - Potentially Dilutive Securities (Details)	9 Months Ended
	Sep. 30, 2019 shares
Potentially dilutive securities (in shares)	1,794,099
Service Period Stock Options [Member]
Potentially dilutive securities (in shares)	1,535,762
Restricted Stock Units (RSUs) [Member]
Potentially dilutive securities (in shares)	234,091
Performance Shares [Member]
Potentially dilutive securities (in shares)	24,246

Note 7 - Leases - Lease Cost (Details) - USD ($)	3 Months Ended		9 Months Ended
Note 7 - Leases - Lease Cost (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Weighted-average remaining lease term (Year)	5 years 6 months 10 days		5 years 6 months 10 days
Weighted-average discount rate	6.14%		6.14%
Operating lease cost	$ 446,598	$ 452,155	$ 1,349,055	$ 1,153,370
Cash paid for amounts included in the measurement of lease liabilities	$ 432,786	$ 395,408	$ 1,273,994	$ 1,022,188

Note 4 - Equity Method Investment

9 Months Ended

Sep. 30, 2020

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Note 4 – Equity Method Investment:

On September 2, 2020, the Company acquired a 19% interest in a privately held company that operates in our industry for $27.7 million. The total $27.7 million is comprised of an initial investment of $26.6 million and $1.1 million of transaction costs. The Company concluded that they are not the primary beneficiary, which is primarily the result of the Company's conclusion that it does not have the power to direct the activities that most significantly impact the economic performance. However, the Company completed an analysis over the investment and determined that based on the circumstances within the agreement, the Company does have the ability to exercise significant influence even though the Company's percentage of ownership is below 20%. As a result, this investment is accounted for under the equity method of accounting.

There is no equity in income (loss) of equity method investment included in our Consolidated Statement of Operations and Comprehensive Loss (Unaudited) for the periods presented because the Company has elected to record their equity in income (loss) using a one-quarter lag based on the most recently available financial statements. In the fourth quarter of 2020, the Company will begin including their equity in income (loss) of equity method investment.

Note 7 - Leases - Maturities of Lease Liabilities (Details)

Sep. 30, 2020

USD ($)

2020 (a)

$ 432,786

^[1]

1,760,250

1,767,797

1,802,007

1,511,214

2,786,004

10,060,058

Less: Imputed interest

(1,358,752)

Present value of lease liabilities

$ 8,701,306

[1]	Excluding the nine months ended September 30, 2020.

Note 3 - Property, Plant and Equipment (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Depreciation, Total	$ 4,970,451	$ 3,975,822	$ 14,708,962	$ 11,462,514
Selling, General and Administrative Expenses [Member]
Depreciation, Total	$ 2,128,590	$ 1,598,843	$ 6,422,288	$ 4,753,623

Note 6 - Debt

9 Months Ended

Sep. 30, 2020