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Note 13 - Leases

6 Months Ended

Jun. 30, 2022

13.

LEASES

The Company leases office space in New Jersey, Hong Kong, Minnesota, 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 and six months ended as of:

	6 Months ended June 30, 2022		6 Months ended June 30, 2021

Lease cost
Operating lease cost	$	111,161	$	127,946
Total lease cost	$	111,161	$	127,946

Balance sheet information	June 30, 2022			December 31, 2021
Operating right-of-use assets	$	206,792		$	254,100

Operating lease liabilities, current portion	$	192,581		$	177,188
Operating lease liabilities, non-current portion		22,004			86,974
Total operating lease liabilities	$	214,585		$	264,162

Weighted average remaining lease term (in years) – operating leases		1.03			1.45
Weighted average discount rate – operating leases		5.50	%		5.50	%

Cash paid for amounts included in the measurement of operating lease liabilities for the six months ended June 30, 2022 and 2021:

65,108

63,812

Maturities of operating lease liabilities were as follows as of June 30, 2022:

2022 (6 months remaining)	$	112,466
2023		107.911
Total future lease payments	$	220,377
Less: imputed interest		(5,792	)
Total	$	214,585