Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Recently Adopted Accounting Pronouncements

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Note 9 - Recently Adopted Accounting Pronouncements
3 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
New Adopted Accounting Pronouncements [Text Block]

NOTE 9 RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS

 

In   July 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2021-05, Leases (Topic 842)Lessors-Certain Leases with Variable Lease Payments, which amends guidance so that lessors are no longer required to record a selling loss at lease commencement for a lease with any variable lease payments that do not depend on an index or rate. A lessor would classify such leases as an operating lease rather than a sales-type or direct financing lease. The update was effective for the Company as of January 1, 2022. The adoption of ASU 2021-05 did not have an impact on the Company’s consolidated financial statements.