XML 26 R15.htm IDEA: XBRL DOCUMENT

Note 9 - Leases

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

9.

LEASES

The Company’s leases office space in New Jersey, Minnesota, New Hampshire, Madrid and Hong-Kong with lease termination dates in 2027. 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:

		*3 Months ended*				*3 Months ended*
		*March 31,*				*March 31,*
		*2025*				*2024*

Lease cost
Total lease cost		$	6,979			$	14,553

		*March 31,*				*December 31,*
Balance sheet information		*2025*				*2024*
Operating right-of-use assets		$	67,670			$	73,372

Operating lease liabilities, current portion		$	25,260			$	24,642
Operating lease liabilities, non-current portion			42,410				48,994
Total operating lease liabilities		$	67,670			$	73,636

Weighted average remaining lease term (in years) – operating leases			2.42				2.67
Weighted average discount rate – operating leases			5.50	%			5.50	%


Cash paid for amounts included in the measurement of operating lease liabilities for the three months ended March 31, 2025 and 2024:		$	11,964			$	22,613

Maturities of operating lease liabilities were as follows as of March 31, 2025:

2025 (9 months remaining)		$	21,216
2026			29,267
2027			22,477
2028			-
Total future lease payments		$	72,960
Less: imputed interest			(5,290	)
Total		$	67,670