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Note 13 - Leases | 9 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
13. | LEASES
The Company leases office space in New Jersey and New Hampshire with lease termination dates in 2023, Minnesota with a lease termination date in 2024, and Hong Kong with a lease termination date in 2022. 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, 2022 |  |  | 3 Months ended September 30, 2021 |  |  | 9 Months ended September 30, 2022 |  |  | 9 Months ended September 30, 2021 |
Lease cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 62,619 |  |  | $ | 63,973 |  |  | $ | 163,401 |  |  | $ | 191,919 |
Total lease cost |  | $ | 62,619 |  |  | $ | 63,973 |  |  | $ | 163,401 |  |  | $ | 191,919 |
Balance sheet information |  | September 30, 2022 |  |  | December 31, 2021 |
Operating right-of-use assets |  | $ | 263,377 |  |  | $ | 254,100 |
Operating lease liabilities, current portion |  | $ | 178,277 |  |  | $ | 177,188 |
Operating lease liabilities, non-current portion |  |  | 86,874 |  |  |  | 86,974 |
Total operating lease liabilities |  | $ | 265,151 |  |  | $ | 264,162 |
Weighted average remaining lease term (in years) – operating leases |  |  | 1.16 |  |  |  | 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 nine months ended September 30, 2022 and 2021: |  | $ | 222,483 |  |  | $ | 191,869 |
Maturities of operating lease liabilities were as follows as of September 30, 2022:
2022 (3 months remaining) |  | $ | 68,048 |
2023 |  |  | 166,160 |
2024 |  |  | 38,809 |
Total future lease payments |  | $ | 273,017 |
Less: imputed interest |  |  | (7,866 | )
Total |  | $ | 265,151 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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