Note 9 - Leases

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Lessee, Operating and Finance Leases [Text Block]

9.

LEASES

On

January 1, 2019,

the Company adopted ASU

2016

-

02

“Leases (Topic

842

),” a new standard related to leases to increase transparency and comparability among organizations by requiring the recognition of lease assets and lease liabilities on the balance sheet. Most prominent among the amendments is the recognition of assets and liabilities by lessees for those leases classified as operating leases under previous U.S. GAAP.

The Company has operating and finance leases for facilities, vehicles and equipment. These leases have remaining terms of

2

years to

15

years, some of which include options to extended the leases for up to

10

years.

Supplemental balance sheet information related to leases:

	March 31, 20 20			December 31, 20 19
Operating leases:
Operating lease right-of-use assets, net	$	9,007,314		$	9,224,840
Other current liabilities		727,961			850,664
Operating lease liabilities		8,425,563			8,513,448
Total operating lease liabilities	$	9,153,524		$	9,364,112
Weighted Average Remaining Lease Term
Operating Leases (in years)		11.0			11.0
Weighted Average Discount Rate
Operating Leases		5.0	%		5.0	%