Note 15 - Leases

9 Months Ended

Sep. 30, 2020

15.

LEASES

The Company's leases office space in New Jersey, Hong Kong, Minnesota, and New Hampshire with lease termination dates of

2023,

2022,

and

2022,

respectively. 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

months ended and as of:

	3 Months ended September 30,		9 Months ended September 30,
	20 20		2020

Lease cost
Operating lease cost	$	67,773	$	175,219
Total lease cost	$	67,773	$	175,219

Balance sheet information
Operating ROU assets			$	556,915

Operating lease liabilities, current portion			$	229,853
Operating lease liabilities, non-current portion				325,454
Total operating lease liabilities			$	555,307

Weighted average remaining lease term (in years) – operating leases				2.49
Weighted average discount rate – operating leases				5.50	%

Supplemental cash flow information related to leases were as follows, for the

nine

months ended

September

30,

2020:

Cash paid for amounts included in the measurement of operating lease liabilities

171,374

Maturities of operating lease liabilities were as follows:

2020 (remaining three months)	$	63,812
2021		256,977
2022		187,594
2023		89,226
Total future lease payments		597,609
Less: imputed interest		(42,302	)
Total	$	555,307