Note 10 - Leases

12 Months Ended

Dec. 31, 2022

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, 2024. 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 1.0 years to 2.4 years. 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, 2022 is as follows:

		2022		2021
Operating lease cost	$	176	$	198
Short-term lease cost		29		21
Total lease cost	$	205	$	219

The weighted average remaining lease term was 1.77 years as of December 31, 2022. The weighted average discount rate was 4.48% as of December 31, 2022. 

Remaining maturities of our existing lease liabilities as of December 31, 2022 were as follows:

Year Ending December 31,	Operating Leases
2023	$	149
2024		61
2025		13
Thereafter		—
Total lease payments	$	223
Less imputed interest		(32	)
Total	$	191

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

	2022		2021
Operating lease liabilities - current	$	125	$	113
Operating lease liabilities - non-current		66		122
Total operating lease liabilities	$	191	$	235

Supplemental cash flow information related to leases was as follows:

	For the Twelve Months ended December 31, 2022		For the twelve months ended December 31, 2021
Cash paid for amounts included in the measurement of lease liabilities	$	157	$	178
Leased assets obtained in exchange for operating lease liabilities		139		158