Note 13 - Leases

6 Months Ended

Jun. 30, 2020

13.

LEASES

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

2023,

2020,

2022,

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:

	3 Months ended June 30,		6 Months ended June 30,
	20 20		20 20

Lease cost
Operating lease cost	$	53,723	$	107,445
Total lease cost	$	53,723	$	107,445

Balance sheet information
Operating ROU assets			$	552,954

Operating lease liabilities, current portion			$	204,282
Operating lease liabilities, non-current portion				346,064
Total operating lease liabilities			$	550,346

Weighted average remaining lease term (in years) – operating leases				2.75
Weighted average discount rate – operating leases				5.50	%

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

six

months ended

June 30, 2020:

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

104,602

Maturities of operating lease liabilities were as follows:

2020 (remaining six months)	$	119,384
2021		223,377
2022		165,194
2023		89,226
Total future lease payments	$	597,181
Less: imputed interest		(46,835	)
Total	$	550,346