Note 10 - Leases

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

10.     LEASES

The terms of the Company’s three primary office space lease arrangements are as follows:

• The Gallarate, Italy building lease, for approximately 1,335 square feet, runs through April 30, 2025. This facility serves as the operating headquarters for our European operations.

• The Aurora, IL warehouse lease, for approximately 11,000 square feet, runs through December 31, 2023. This facility serves as an outside warehouse facility. 

• The Overland Park, KS lease, for approximately 600 square feet, runs through October 15, 2022. This facility serves primarily as a sales office.

The Company also has three additional operating leases related to certain office equipment and company leased vehicles and one short-term lease. Our leases have remaining lease terms of 0.2 years to 3.3 years. As of December 31, 2021, we have one new three-year equipment lease that has not yet commenced for $64. Our leases do not contain any material residual value guarantees or material restricted covenants and we currently have no material sublease arrangements. We have no financing leases as defined under ASC 842.

Total operating lease expense for the years ended December 31, 2021 is as follows:

		2021		2020
Operating lease cost	$	198	$	205
Short-term lease cost		21		20
Total lease cost	$	219	$	225

The weighted average remaining lease term was 2.30 years as of December 31, 2021. The weighted average discount rate was 4.52% as of December 31, 2021. 

Remaining maturities of our existing lease liabilities as of December 31, 2021 were as follows:

Year Ending December 31,	Operating Leases
2022	$	132
2023		114
2024		28
2025		7
Thereafter		—
Total lease payments	$	281
Less imputed interest		(46	)
Total	$	235

The following is the balance sheet classification of our existing lease liabilities:

	2021		2020
Operating lease liabilities - current	$	113	$	149
Operating lease liabilities - non-current		122		237
Total operating lease liabilities	$	235	$	386

Supplemental cash flow information related to leases was as follows:

	For the Twelve Months ended December 31, 2021		For the twelve months ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities	$	178	$	192
Leased assets obtained in exchange for operating lease liabilities		158		179