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Lease | 12 Months Ended
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Dec. 31, 2019
ASU 2016-02 Transition [Abstract] |
Lessee, Operating Lease, Disclosure [Table Text Block] | Note 15 - Lease On June 17, 2013, the Company entered into a lease agreement for office, warehouse, storage, and distribution space with a five year term, commencing on November 1, 2013 and expiring on October 31, 2018. The lease agreement also provides an option to extend the term for an additional six years. On April 23, 2018, the Company extended the lease for another 36 months with an expiration date of October 31, 2021. The monthly rental payment is $42,000 with an annual 3% increase. On January 7, 2014, the Company entered into a sublease agreement with Diamond Bar for warehouse space with a five-year term commencing on November 1, 2013 and which expired on October 31, 2018. The Company subleased a portion of its warehouse space to one of its customers with a one-year term commencing on December 1, 2013 and expiring on November 30, 2014, which had been renewed every year, expired on October 31, 2018 and was not renewed. The sublease income of $6,000 per month was recorded against the rental expense. During the year ended December 31, 2018, the Company recorded $47,330 in sublease income. On September 13, 2017, Bright Swallow renewed the lease for another two year term, commencing on October 1, 2017 and expiring on September 30, 2019. The monthly rental payment is 20,000 Hong Kong Dollars ($2,548). The Company terminated the lease on December 31, 2018. The Company has entered into several lease agreements for office and warehouse space in Commerce, California and showroom space in Las Vegas, Nevada and High Point, North Carolina on monthly or annual terms. Total rental payments from continuing operations for the years ended December 31, 2019 and 2018 were $1,110,725 and $855,201, respectively. Total rental payments from discontinued operations for the years ended December 31, 2019 and 2018 were $0 and $30,618, respectively. The components of lease costs, lease term and discount rate with respect of leases with an initial term of more than 12 months are as follows:
|  | 2019 |
Operating lease cost |  | $ | 620,980 |
Weighted Average Remaining Lease Term - Operating leases |  | 4.84 years |
Weighted Average Discount Rate - Operating leases |  |  | 5 | %
The following is a schedule, by years, of maturities of lease liabilities as of December 31, 2019:
|  | Operating Leases |
Fiscal year 2020 |  | $ | 604,811 |
Fiscal year 2021 |  |  | 622,956 |
Fiscal year 2022 |  |  | 641,644 |
Fiscal year 2023 |  |  | 660,894 |
Thereafter |  |  | 508,000 |
Total undiscounted cash flows |  |  | 3,038,305 |
Less: imputed interest |  |  | (346,176 | )
Present value of lease liabilities |  | $ | 2,692,129 |

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- Definition Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 1,3) -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121573735&loc=d3e41499-112717 Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12069-110248 Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121573735&loc=d3e41502-112717 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121549808&loc=d3e36991-112694 + Details
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