Note 12 - Leases

3 Months Ended

Mar. 31, 2020

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, for the

three

months ended and as of:

	March 31,
	20 20

Lease cost
Operating lease cost	$	53,723
Total lease cost	$	53,723

Balance sheet information
Operating ROU assets	$	520,470

Operating lease liabilities, current portion	$	162,886
Operating lease liabilities, non-current portion		353,553
Total operating lease liabilities	$	516,439

Weighted average remaining lease term (in years) – operating leases		3.13
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

52,301

Maturities of operating lease liabilities were as follows:

2020 (remaining nine months)	$	145,424
2021		170,853
2022		160,817
2023		89,226
Total future lease payments		566,320
Less: imputed interest		(49,881	)
Total	$	516,439