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Note 12 - Leases | 9 Months Ended
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Sep. 30, 2019
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
12. | LEASES
The Company’s leases office space in New Jersey, Hong Kong and Minnesota with lease termination dates of 2023, 2020, and 2022, respectively. The 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, were:
|  | 3 Months ended September 30, |  |  | 9 Months ended September 30, |
|  | 2019 |  |  | 2019 |
Lease cost |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 46,562 |  |  | $ | 132,524 |
Short-term lease cost |  |  | 10,145 |  |  |  | 41,535 |
Sublease income |  |  | - |  |  |  | - |
Total lease cost |  | $ | 56,707 |  |  | $ | 174,059 |
Balance sheet information |  |  |  |  |  |  |  |
Operating ROU assets |  |  |  |  |  | $ | 611,883 |
Operating lease liabilities, current portion |  |  |  |  |  | $ | 178,130 |
Operating lease liabilities, non-current portion |  |  |  |  |  |  | 426,879 |
Total operating lease liabilities |  |  |  |  |  | $ | 605,009 |
Weighted average remaining lease term (in years) – operating leases |  |  |  |  |  |  | 3.54 |
Weighted average discount rate – operating leases |  |  |  |  |  |  | 5.50 | %
Supplemental cash flow information related to leases were as follows, for the nine months ended September 30, 2019:
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 126,804 |
Maturities of operating lease liabilities were as follows:
2019 (remaining three months) |  | $ | 52,301 |
2020 |  |  | 197,724 |
2021 |  |  | 170,853 |
2022 |  |  | 160,817 |
2023 |  |  | 89,226 |
Total future lease payments |  | $ | 670,921 |
Less: imputed interest |  |  | (65,912 | )
Total |  | $ | 605,009 |

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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 http://asc.fasb.org/subtopic&trid=77888251 + Details
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