Note 13 - Recently Adopted Accounting Pronouncements

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

13. Recently Adopted Accounting Pronouncements

In

February 2016,

the FASB issued ASU

2016

-

02,

Leases, which was subsequently amended by ASU

2018

-

10,

ASU

2018

-

11,

ASU

2018

-

20

and ASU

2019

-

01

(collectively, Topic

842

). which introduced the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous guidance. The new standard established a right-of-use ("ROU") model that requires a lessee to record a lease asset and liability on the balance sheet for all leases with terms longer than

12

months. The standard became effective for fiscal years beginning after

December 15, 2018

and interim periods within those fiscal years. The Company adopted Topic

842

as of

January 1, 2019 (

see Note

8

– Operating Leases).

In

August 2018,

the SEC issued Release

No.

33

-

10532

that amended and clarified certain financial reporting requirements. The principal change to our financial reporting is the inclusion of the annual disclosure requirement of changes in stockholders’ equity to interim periods. We adopted this rule for the quarter ended

March 31, 2019.