Note 10 - Leases

3 Months Ended

Mar. 31, 2019

Lessee, Operating Leases [Text Block]

10.

LEASES

The Company’s leases office space in New Jersey, Hong Kong and Minnesota with lease termination dates of

2023,

2019,

and

2020,

respectively. The Minnesota lease is under

months, thus classified as short-term and

not

reported on the balance sheet under ASC

842.

The Hong Kong and the New Jersey leases include non-lease components with variable payments. The following tables present the components of lease expense and supplemental balance sheet information related to the operating leases, for the

three

months ended and as of:

	March 31,
	2019

Lease cost
Operating lease cost	$	42,981
Short-term lease cost		16,295
Sublease income		-
Total lease cost	$	59,276

Balance sheet information
Operating ROU assets	$	568,073

Operating lease liabilities, current portion	$	138,274
Operating lease liabilities, non-current portion		419,171
Total operating lease liabilities	$	557,445

Weighted average remaining lease term (in years) – operating leases		4.11
Weighted average discount rate – operating leases		5.50	%

Supplemental cash flow information related to leases were as follows, for the

three

months ended

March 31, 2019:

Cash paid for amounts included in the measurement of operating lease liabilities

42,030

Maturities of operating lease liabilities were as follows:

2019 (remaining nine months)	$	124,231
2020		155,682
2021		127,425
2022		131,249
2023		89,226
2024 and thereafter		-
Total future lease payments	$	627,813
Less: imputed interest		(70,368	)
Total	$	557,445