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Note 12 - Lease
 12 Months Ended
Dec. 31, 2024
Statement Line Items [Line Items]  
Disclosure of leases [text block]

12.

Lease

 

The Company leases an office space, which runs for a period of 5 years from 2022 with an option to renew for an additional 5 years for fair market rent for comparable buildings.

 

Right-of-use assets

 

  

December 31,

  

December 31,

 

Office space

 

2024

  

2023

 

Balance at January 1

 $205  $261 

Additions to right-of-use

  —   — 

Depreciation

  (65)  (56)

Balance at December 31

 $140  $205 

 

Right-of-use assets related to leased office is presented as property, plant and equipment (see Note 6).

 

Lease liabilities

 

  

December 31,

  

December 31,

 
  

2024

  

2023

 

Balance at January 1

 $175  $218 

Lease interest

  13   13 

Lease repayment

  (55)  (49)

Change in discount rate

  —   (7)

Balance at December 31

 $133  $175 

Less – Current portion

  (50)  (43)

Balance at December 31 – Long-term portion

 $83  $132 

 

The office lease also requires the Company to make additional payments for the Company’s proportionate share of operating costs including property taxes, utilities, and other operating expenses. These costs are variable and not included in the calculation of right-of-use asset or lease liability.