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Note 7 - Operating Leases | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | Note 7. Operating Leases The Company leases approximately 10,535 square feet of office space for its San Antonio, TX executive offices and operations. Rental expense under the operating lease was $150,129 and $143,149 for the years ended December 31, 2022 and 2021, respectively. The lease expires on July 31, 2024. The Company leases approximately 3,794 square feet of office space for its Nashville, Tennessee sales offices and operations. Rental expense under the operating lease was $102,976 and $85,122 for the years ended December 31, 2022 and 2021, respectively. The lease expires on April 30, 2023. We will not be entering into a lease extension, or new lease agreement in Nashville, Tennessee upon the expiration of this current lease agreement. The Company assumed a lease in San Antonio, Texas as a part of the Information Management Solutions, LLC acquisition for its Output Solutions employees and warehouse operations. The lease has a remaining life of 45 months and expires on September 30, 2024. The space leased is 22,400 square feet. Annual rents during the lease term range from $123,554 to $133,703. Rental expense for the years ended December 31, 2022 and 2021 was $112,504 and $107,647 respectively. On January 1, 2021, we entered into a lease in Austin, Texas commencing on January 1, 2021 for our Austin technology organization. The lease is for a period of 25 months and expires on January 31, 2023. The space leased is 1,890 square feet. Rental expense for the years ended December 31, 2022 and 2021 was $83,610 and $81,353 respectively. On January 26, 2023, the Company entered into a lease amendment commencing on February 1, 2023, extending the term of the existing lease for a period of 23 months and expiring on January 31, 2025. On March 15, 2021, we entered into a lease amendment to our existing lease in San Antonio, Texas commencing April 1, 2021 and expiring on September 30, 2024 running concurrently with the existing lease. The incremental space leased is 2,734 square feet. The incremental annual rent during the lease term ranges from $56,047 to $60,148. Rental expense for the years ended December 31, 2022 and 2021 was $46,658 and $34,125 respectively. On October 19, 2021, the Company entered into a lease amendment to the existing lease in San Antonio, Texas commencing April 1, 2022 and expiring on September 24, 2024 running concurrently with the existing lease. The incremental space lease is 6,628 square feet. The incremental annual rent during the lease term ranges from $135,874 to $145,816. Rental expense for the year ended December 32, 2022 was $75,269 The Company has various copier equipment with leases that have not expired. Rental expense under the operating lease was $12,729 and $25,000 for the years ended December 31, 2022 and 2021, respectively. The weighted average remaining lease term is 5.27 years. The weighted average discount rate is 4.17% The Company recognized total operating lease expense of approximately $711,000 and $591,000 for the years ended December 31, 2022 and 2021, respectively. In 2022, the operating lease expense of $711,000 consisted of $577,000 of fixed operating expense and $134,000 of interest expense. The maturities of lease liabilities are as follows at December 31, 2022:
Year ended December 31, |  |  |  |
2023 |  | $ | 617,319 |
2024 |  |  | 554,916 |
2025 |  |  | 518,935 |
2026 |  |  | 414,138 |
2027 |  |  | 414,138 |
Thereafter |  |  | 917,081 |
Total minimum lease payments |  |  | 3,436,527 |
Less imputed interest |  |  | (480,261 | )
Total lease liabilities |  | $ | 2,956,266 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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