v3.26.1
Note K - Leases
12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]

NOTE KLEASES

 

The Company’s leases office space in New Jersey, Minnesota, New Hampshire, Madrid and Hong Kong with lease termination dates in 2026 and 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:

 

  

Year ended

  

Year ended

 
  

December 31,

  

December 31,

 
  

2025

  

2024

 

Lease cost

        

Operating lease cost

 $28,195  $45,787 

Total lease cost

 $28,195  $45,787 
         

Balance sheet information

        

Operating lease right-of-use assets

 $47,953  $73,372 
         

Operating lease liabilities, current portion

 $27,728  $24,642 

Operating lease liabilities, non-current portion

  21,266   48,994 

Total operating lease liabilities

 $48,994  $73,636 
         

Weighted average remaining lease term (in years) – operating leases

  1.67   2.67 

Weighted average discount rate – operating leases

  5.50%  5.50%
         

Supplemental cash flow information related to leases were as follows:

        
         

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

 $47,640  $63,914 
         

Maturities of operating lease liabilities were as follows as of December 31, 2023:

        
         

2026

 $29,267     

2027

  22,477     
   2028   - 

Total future lease payments

 $51,744     

Less: imputed interest

  (3,791)    

Total

 $47,953