XML 36 R16.htm IDEA: XBRL DOCUMENT
v3.25.1

Note 8 - Leases | 12 Months Ended
--- | ---
Dec. 31, 2024
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | 8. Leases The Company accounts for its leasing arrangements in accordance with Topic 842, “Leases”. The Company leases manufacturing and office facilities and equipment under operating leases and determines if an arrangement is a lease at inception. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of its leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company has lease agreements with lease and non-lease components, which are accounted for separately. The Company leases approximately 54,000 square feet (not in thousands) of industrial space in West Melbourne, Florida, under a non-cancellable operating lease. The lease has the expiration date of June 30, 2027. The lease includes an option for one additional extension period of five (5) years commencing July 1, 2027 and terminating at midnight June 30, 2032. Rental, maintenance and tax expenses for this facility were approximately $625 and $596 in 2024 and 2023, respectively. In February 2020, the Company entered into a lease for 6,857 square feet (not in thousands) of office space at Sawgrass Technology Park, 1619 NW 136th Avenue in Sunrise, Florida, for a period of 64 months commencing July 1, 2020. Annual rental, maintenance and tax expenses for the facility were approximately $224 and $212 in 2024 and 2023, respectively. Lease costs consist of the following:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 543 |  |  | $ | 542 |
Variable lease cost |  |  | 133 |  |  |  | 132 |
Total lease cost |  | $ | 676 |  |  | $ | 674 |
Supplemental cash flow information related to leases was as follows:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows (fixed payments) |  | $ | 611 |  |  | $ | 595 |
Operating cash flows (liability reduction) |  |  | 528 |  |  |  | 485 |
Other information related to operating leases was as follows:
|  | December 31, |
|  | 2024 |
Weighted average remaining lease term (in years) |  |  | 2.36 |
Weighted average discount rate |  |  | 5.50 | %
Maturity of operating lease liabilities as of December 31, 2024 were as follows:
|  | Year ending |
|  | December 31, |
2025 |  | $ | 625 |
2026 |  |  | 486 |
2027 |  |  | 249 |
2028 |  |  | 5 |
2029 |  |  | 3 |
Thereafter |  |  | — |
Total payments |  |  | 1,368 |
Less: imputed interest |  |  | (83 | )
Total liability |  | $ | 1,285 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration