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Note 13 - Leases
3 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]
Note
13
-
Leases
 
We adopted ASC Topic
842
(Leases) on
January 1, 2019.
In
July 2020,
the Company entered into a lease agreement for a building through
June 2021 (
with
no
extension options).   The monthly lease payments are
$38,000.
  The Company made a policy election to
not
recognize right of use assets and lease liabilities that arise from leases with an initial term of
twelve
months or less on the Consolidated Balance Sheets.   However, the Company recognized these lease payments in the Consolidated Statement of Operations on a straight-line basis over the lease term and variable lease payments in the period in which the expense was incurred. This lease terminated during
2021
and was replaced with a new lease. In
March 2021,
the Company entered into a lease agreement for a building through
September 2022.
The monthly lease payments are
$34,000.
  As a result of this new lease, in
March 2021,
the Company recorded a right of use asset of
$567,950
and a related operating lease liability and used the incremental borrowing rate of
11%.