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Note N - Leases | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | NOTE N—LEASES The Company’s leases office space in New Jersey, Minnesota, New Hampshire, Madrid and Hong-Kong with lease termination dates in 2023 and 2024. The property leased in China is paid monthly as used, without a formal agreement. The following tables present the components of lease expense and supplemental balance sheet information related to the operating leases were:
|  | Year ended December 31, 2022 |  |  | Year ended December 31, 2021 |
Lease cost |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 254,649 |  |  | $ | 255,892 |
Total lease cost |  | $ | 254,649 |  |  | $ | 255,892 |
Balance sheet information |  |  |  |  |
Operating right-of-use assets |  | $ | 197,355 |  |  | $ | 254,100 |
Operating lease liabilities, current portion |  | $ | 159,665 |  |  | $ | 177,188 |
Operating lease liabilities, non-current portion |  |  | 37,829 |  |  |  | 86,974 |
Total operating lease liabilities |  | $ | 197,494 |  |  | $ | 264,162 |
Weighted average remaining lease term (in years) – operating leases |  |  | 0.96 |  |  |  | 1.45 |
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 |  | $ | 259,558 |  |  | $ | 256,977 |
Maturities of operating lease liabilities were as follows as of December 31, 2022: |  |  |  |  |  |  |  |
2023 |  | $ | 164,596 |  |  |  |  |
2024 |  |  | 38,808 |  |  |  |  |
Total future lease payments |  | $ | 203,404 |  |  |  |  |
Less: imputed interest |  |  | (5,910 | ) |  |  |  |
Total |  | $ | 197,494 |  |  |  |  |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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