Note 15 - Leases

3 Months Ended

Mar. 31, 2021

15.

LEASES

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

2023,

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, were:

	3 Months ended March 31, 2021		3 Months ended March 31, 2020

Lease cost
Operating lease cost	$	63,973	$	53,723
Total lease cost	$	63,973	$	53,723

Balance sheet information	March 31, 2021			December 31, 2020
Operating right-of-use assets	$	430,206		$	487,325

Operating lease liabilities, current portion	$	230,072		$	234,309
Operating lease liabilities, non-current portion		211,442			264,163
Total operating lease liabilities	$	441,514		$	498,472

Weighted average remaining lease term (in years) – operating leases		2.04			2.26
Weighted average discount rate – operating leases		5.50	%		5.50	%

Supplemental cash flow information related to leases were as follows:

Cash paid for amounts included in the measurement of operating lease liabilities for the three months ended March 31, 2021 and 2020:

63,812

52,301

Maturities of operating lease liabilities were as follows as of

March 31, 2021:

2021 (9 months remaining)	$	193,165
2022		187,594
2023		89,225
Total future lease payments	$	469,984
Less: imputed interest		(28,470	)
Total	$	441,514