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Note 9 - Leases

6 Months Ended

Jun. 30, 2025

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*
	*June 30,*		*June 30,*
	*2025*		*2024*

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

	*6 Months ended*		*6 Months ended*
	*June 30,*		*June 30,*
	*2025*		*2024*

Lease cost
Total lease cost	$	13,958	$	29,106

	*June 30,*			*December 31,*
Balance sheet information	*2025*			*2024*
Operating right-of-use assets	$	60,829		$	73,372

Operating lease liabilities, current portion	$	25,886		$	24,642
Operating lease liabilities, non-current portion		35,735			48,994
Total operating lease liabilities	$	61,621		$	73,636

Weighted average remaining lease term (in years) – operating leases		2.17			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 six months ended June 30, 2025 and 2024:	$	23,928		$	40,622

Maturities of operating lease liabilities were as follows as of June 30, 2025:

2025 (6 months remaining)	$	14,237
2026		29,267
2027		22,477
2028		-
Total future lease payments	$	65,981
Less: imputed interest		(5,152	)
Total	$	60,829