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Note 15 - Leases

9 Months Ended

Sep. 30, 2021

15.

LEASES

The Company’s leases office space in New Jersey, Hong Kong, Minnesota, and New Hampshire with lease termination dates of 2023, 2022, 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 and nine months ended as of:

	3 Months ended September 30,		9 Months ended September 30,
	2021		2021

Lease cost
Operating lease cost	$	63,973	$	191,919
Total lease cost	$	63,973	$	191,919

Balance sheet information
Operating ROU assets			$	313,607

Operating lease liabilities, current portion			$	206,004
Operating lease liabilities, non-current portion				118,800
Total operating lease liabilities			$	324,804

Weighted average remaining lease term (in years) – operating leases				1.63
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, 2021:

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

191,869

Maturities of operating lease liabilities were as follows:

2021 (remaining three months)	$	65,108
2022		187,594
2023		89,226
Total future lease payments		341,928
Less: imputed interest		(17,124	)
Total	$	324,804