Note 12 - Leases

9 Months Ended

Sep. 30, 2019

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