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Note 9 - Leases

9 Months Ended

Sep. 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*
	*September 30,*		*September 30,*
	*2025*		*2024*

Lease cost
Total lease cost	$	6,979	$	9,702

	*9 Months ended*		*9 Months ended*
	*September 30,*		*September 30,*
	*2025*		*2024*

Lease cost
Total lease cost	$	20,937	$	38,808

	*September 30,*			*December 31,*
Balance sheet information	*2025*			*2024*
Operating right-of-use assets	$	54,433		$	73,372

Operating lease liabilities, current portion	$	26,522		$	24,642
Operating lease liabilities, non-current portion		28,967			48,994
Total operating lease liabilities	$	55,489		$	73,636

Weighted average remaining lease term (in years) – operating leases		1.92			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 nine months ended September 30, 2025 and 2024:	$	35,397		$	40,622

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

2025 (3 months remaining)	$	7,258
2026		29,267
2027		22,477
Total future lease payments	$	59,002
Less: imputed interest		(4,569	)
Total	$	54,433