Leatt (LEAT) 10-K 13 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 07, 2024	Jun. 30, 2023
Document and Entity Information [Abstract]
Entity Registrant Name	LEATT CORPORATION
Entity Central Index Key	0001456189
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		6,215,440
Document Period End Date	Dec. 31, 2023
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Entity Public Float			$ 35,848,257
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Document Annual Report	true
Document Transition Report	false
Entity File Number	000-54693
Entity Tax Identification Number	20-2819367
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	12 Kiepersol Drive, Atlas Gardens
Entity Address, Address Line Two	Contermanskloof Road
Entity Address, City or Town	Durbanville
Entity Address, Country	ZA
Entity Address, Postal Zip Code	7550
City Area Code	27
Local Phone Number	21-557-7257
Auditor Firm ID	58
Auditor Name	Fitzgerald & Co, CPAs, P.C.
Auditor Location	Vienna, Virginia

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 11,347,420	$ 7,102,945
Accounts receivable, net	6,970,322	12,839,597
Inventory, net	20,391,873	22,805,462
Payments in advance	664,754	1,047,137
Deferred asset, net	9,601	1,016,815
Income tax refunds receivable	623,081	0
Prepaid expenses and other current assets	2,297,934	2,878,112
Total current assets	42,304,985	47,690,068
Property and equipment, net	4,026,821	3,104,336
Operating lease right-of-use assets, net	845,209	1,092,170
Accounts receivable, net	309,947	0
Deferred tax asset, net	84,200	0
Other Assets
Deposits	36,210	40,796
Total Assets	47,607,372	51,927,370
Current Liabilities
Accounts payable and accrued expenses	5,202,368	6,011,390
Notes payable, current	112,858	108,398
Operating lease liabilities, current	299,432	280,743
Deferred compensation, current	0	400,000
Income taxes payable	0	3,382,700
Short term loan, net of finance charges	1,135,761	1,030,196
Total current liabilities	6,750,419	11,213,427
Notes payable, net of current portion	30,652	141,967
Operating lease liabilities, net of current portion	545,777	811,427
Deferred tax liability, net	0	66,200
Commitments and contingencies
Equity, Attributable to Parent [Abstract]
Preferred stock, $.001 par value, 1,120,000 shares authorized, 120,000 shares issued and outstanding	3,000	3,000
Common stock, $.001 par value, 28,000,000 shares authorized, 6,215,440 and 5,971,340 shares issued and outstanding	130,553	130,309
Additional paid - in capital	10,745,384	10,645,497
Accumulated other comprehensive loss	(1,398,258)	(1,081,143)
Retained earnings	30,799,845	29,996,686
Total stockholders' equity	40,280,524	39,694,349
Total Liabilities and Stockholders' Equity	$ 47,607,372	$ 51,927,370

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred Stock, Par Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	1,120,000	1,120,000
Preferred Stock, Shares Issued	120,000	120,000
Preferred Stock, Shares Outstanding	120,000	120,000
Common Stock, Par Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	28,000,000	28,000,000
Common Stock, Shares, Issued	6,215,440	5,971,340
Common Stock, Shares, Outstanding	6,215,440	5,971,340

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Operations [Abstract]
Revenues	$ 47,241,187	$ 76,335,539
Cost of Revenues	27,435,115	45,202,712
Gross Profit	19,806,072	31,132,827
Product Royalty Income	93,696	240,044
Operating Expenses
Salaries and wages	5,443,685	6,148,179
Commissions and consulting expenses	434,657	563,689
Professional fees	748,608	586,474
Advertising and marketing	4,127,798	3,342,791
Office lease and expenses	596,862	689,068
Research and development costs	2,526,550	2,179,996
Bad debt expense (recovery)	(10,288)	474,019
General and administrative expenses	3,438,746	3,273,346
Depreciation	1,174,664	1,098,433
Total operating expenses	18,481,282	18,355,995
Income from Operations	1,418,486	13,016,876
Other Expenses
Interest and other expenses, net	(39,138)	(13,550)
Total other expenses	(39,138)	(13,550)
Income Before Income Taxes	1,379,348	13,003,326
Income Taxes	576,189	3,042,873
Net Income Available to Common Shareholders	$ 803,159	$ 9,960,453
Net Income per Common Share
Basic	$ 0.13	$ 1.71
Diluted	$ 0.13	$ 1.62
Weighted Average Number of Common Shares Outstanding
Basic	5,992,072	5,821,119
Diluted	6,287,849	6,136,781
Comprehensive Income
Net Income	$ 803,159	$ 9,960,453
Other comprehensive income, net of ($18,000) and ($14,700) deferred income taxes in 2023 and 2022
Foreign currency translation	(317,115)	(301,875)
Total Comprehensive Income	$ 486,044	$ 9,658,578

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Operations [Abstract]
Deferred income taxes	$ (18,000)	$ (14,700)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Preferred Stock A [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Total
Beginning Balance at Dec. 31, 2021	$ 3,000	$ 130,162	$ 9,230,847	$ (779,268)	$ 20,036,233	$ 28,620,974
Beginning Balance (Shares) at Dec. 31, 2021	120,000	5,673,683
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation cost recognized in connection with stock options			82,530			82,530
Exercise of stock options		$ 118	255,682			255,800
Exercise of stock options (Shares)		118,000
Options exercised on a cashless basis (Shares)		150,657
Restricted stock awards		$ 29	1,076,438			1,076,467
Restricted stock awards (Shares)		29,000
Net income					9,960,453	9,960,453
Foreign currency translation adjustment				(301,875)		(301,875)
Ending Balance at Dec. 31, 2022	$ 3,000	$ 130,309	10,645,497	(1,081,143)	29,996,686	39,694,349
Ending Balance (Shares) at Dec. 31, 2022	120,000	5,971,340
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Compensation cost recognized in connection with stock options						0
Restricted stock awards		$ 244	99,887			100,131
Restricted stock awards (Shares)		244,100
Net income					803,159	803,159
Foreign currency translation adjustment				(317,115)		(317,115)
Ending Balance at Dec. 31, 2023	$ 3,000	$ 130,553	$ 10,745,384	$ (1,398,258)	$ 30,799,845	$ 40,280,524
Ending Balance (Shares) at Dec. 31, 2023	120,000	6,215,440

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net income	$ 803,159	$ 9,960,453
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,174,664	1,098,433
Deferred income taxes	(150,400)	(162,400)
Stock-based compensation	100,131	1,158,997
Bad debts reserve	(54,080)	452,037
Inventory reserve	122,456	(11,111)
Deferred asset allowance	(98,671)	105,071
Gain on sale of property and equipment	(2,817)	(23,006)
(Increase) decrease in:
Accounts receivable	5,923,355	(630,698)
Deferred asset	1,105,885	(1,121,886)
Inventory	2,291,133	(1,712,870)
Payments in advance	382,383	563,503
Prepaid expenses and other current assets	580,178	1,300,315
Income tax refunds receivable	(623,081)	0
Long-term accounts receivable	(309,947)	0
Deposits	4,586	(7,457)
Increase (decrease) in:
Accounts payable and accrued expenses	(809,022)	(8,606,281)
Income taxes payable	(3,382,700)	643,882
Deferred compensation	(400,000)	80,000
Net cash provided by operating activities	6,657,212	3,086,982
Cash flows from investing activities
Capital expenditures	(1,999,500)	(1,144,173)
Proceeds from sale of property and equipment	3,248	43,469
(Increase) decrease in short-term investments, net	0	58,262
Net cash used in investing activities	(1,996,252)	(1,042,442)
Cash flows from financing activities
Issuance of common stock	0	255,800
Proceeds from note payable	0	58,075
Repayment of notes payable to bank	(106,855)	(80,229)
Proceeds from short-term loan, net	105,565	55,171
Net cash provided by (used in) financing activities	(1,290)	288,817
Effect of exchange rates on cash and cash equivalents	(415,195)	(252,848)
Net increase in cash and cash equivalents	4,244,475	2,080,509
Cash and cash equivalents beginning of period	7,102,945	5,022,436
Cash and cash equivalents end of period	11,347,420	7,102,945
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	71,354	58,825
Cash paid for income taxes	4,534,605	2,576,091
Other noncash investing and financing activities
Common stock issued for services	$ 100,131	$ 1,158,997

DESCRIPTION OF BUSINESS AND NAT

DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2023
Description Of Business And Nature Of Operations [Abstract]
DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS [Text Block]	NOTE 1 - DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS Leatt Corporation (the "Company") designs, develops, markets and distributes personal protective equipment for participants in all forms of motor sports and leisure activities, including riders of motorcycles, bicycles, snowmobiles and ATVs. The Company's flagship products are based on the Leatt-Brace® system, a patented injection molded neck protection system owned by Xceed Holdings CC ("Holdings"), designed to prevent potentially devastating injuries to the cervical spine and neck. The Company has the exclusive global manufacturing, distribution, sale and use rights to the Leatt-Brace®, pursuant to a license agreement between the Company and Holdings, a South African incorporated company owned and controlled by the Company's Chairman and founder, Dr. Christopher Leatt. The Company also has the right to use apparatus embodying, employing and containing the Leatt-Brace® technology and has designed, developed, marketed and distributed other personal protective equipment. The Company's products are manufactured predominately in China and sold to customers worldwide through a global network of distributors and dealers. Leatt also acts as the original equipment manufacturer for personal protective equipment sold by other international brands. The Company was incorporated in the State of Nevada on March 11, 2005, under the name Treadzone, Inc. On June 17, 2005, the Company changed its name to Leatt Corporation in connection with the Company's acquisition of rights to use the Leatt neck brace patents and trademarks. The Company conducts business in South Africa as a foreign registered branch, and in the United States through the Company's wholly-owned subsidiary, Two Eleven Distribution, LLC ("Two Eleven") a Nevada limited liability company. Research and development efforts, global sales and global operations are managed out of the Company's foreign registered branch located in Cape Town, South Africa. Two Eleven acts as a distributor of Leatt products in the United States. United States sales and marketing are managed by Two Eleven located in Reno, Nevada. The Company also has a wholly-owned subsidiary, Leatt Prop (Pty) Ltd (Leatt Prop) a South African company, established on June 24, 2022, for the purpose of purchasing immoveable property in South Africa. The Company has not moved forward with its original plan and Leatt Prop remains dormant.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block]	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation - Use of Estimates - Revenue and Cost Recognition - Revenues from product sales are recognized when earned, net of applicable provisions for discounts and returns and allowances in the event of product defect where no exchange of product is possible. Revenue and Cost Recognition (continued) - The Company's standard distributor payment terms range from pre-payment in full to 60 days after shipment and subsequent sales of product by distributors have no effect on the amount and timing of payments due to the Company, however, in limited instances qualified distributors and dealers may be granted extended payment terms during selected order periods. In performing such evaluations, the Company utilizes historical experience, sales performance, and credit risk requirements. Furthermore, products purchased by distributors may not be returned to the Company in the event that any such distributor relationship is terminated. Since the Company (through its wholly-owned subsidiary) serves as the distributor of Leatt products in the United States, the Company records its revenue and related cost of revenue for its product sales in the United States upon shipment of the merchandise to the dealer or to the ultimate consumer when there is no dealer in the geographic area or the consumer chooses to purchase directly from the Company's e-commerce website and the sales order was received directly from, and paid by, the ultimate consumer. Since the Company (through its South African branch) serves as the distributor of Leatt products in South Africa, the Company records its revenue and related cost of revenue for its product sales in South Africa upon shipment of the merchandise from the branch to the dealer. The Company's standard terms and conditions of sale for non-consumer direct or web-based sales do not allow for product returns other than under warranty. Sales totalling $31,671 and $2,509,534 were deferred as all the requirements to have a contract with the customer in accordance with ASC 606 had not been met as of December 31, 2023, and December 31, 2022, respectively. The shipped goods associated with these deferred sales are included in the caption deferred asset, net of an allowance for potential loss of $6,400 and $105,071 for December 31, 2023 and December 31, 2022, respectively. International sales (other than in the United States and South Africa) are generally drop-shipped directly from our consolidation warehouse or the third-party manufacturer to the international distributors. Revenue and related cost of revenue is recognized at the time of shipment from the manufacturer's port when the shipping terms are Free On Board ("FOB") shipping point, Cost and Freight ("CFR") or Cost and Insurance to named place ("CIP") as legal title and risk of loss to the product pass to the distributor. Sales to all customers (distributors, dealers and consumers) are generally final; however, in limited instances, product may be returned and exchanged due to product quality issues. Historically, returns due to product quality issues have not been material and there have been no distributor terminations that resulted in product returns. Cost of revenues also includes royalty fees associated with sales of Leatt-Brace products. Product royalty income is recorded as the underlying product sales occur, in accordance with the related licensing arrangements. Revenue and Cost Recognition (continued) - Year Ended December 31, 2023 % of Revenues 2022 % of Revenues Consumer and athlete direct revenues $ 3,019,750 7% $ 2,566,214 4% Dealer direct revenues 11,909,810 25% 16,201,781 21% International distributor revenues 32,311,627 68% 57,567,544 75% $47,241,187 100% $76,335,539 100% The Company reviews the reserves for customer returns at each reporting period and adjusts them to reflect data available at that time. To estimate reserves for returns, the Company estimates the expected returns and claims based on historical rates as well as events and circumstances that indicate changes to historical rates of product returns and claims. Historically, returns due to product quality issues have not been material and there have been no distributor terminations that resulted in product returns. The provision for estimated returns at December 31, 2023 and December 31, 2022 was $0, and $0, respectively. Sales commissions are expensed when incurred, which is generally at the time of sale, because the amortization period would have been one year or less. These costs are recorded in commissions and consulting expenses within operating expenses in the accompanying consolidated statements of operations and comprehensive income. Shipping and handling activities associated with outbound freight, after control over a product has transferred to a customer, are accounted for as a fulfilment cost and are included in revenues and cost of revenues in the accompanying consolidated statements of operations and comprehensive income. Revenue recognized from contracts with customers is recorded net of sales taxes, value added taxes, or similar taxes that are collected on behalf of local taxing authorities. Operating leases - Accounts Receivable and Allowance for Doubtful Accounts - Accounts Receivable and Allowance for Doubtful Accounts (continued) Inventory - Property and Equipment - The cost of improvements that extend the lives of the assets are capitalized. Repairs and maintenance are expensed as incurred. When items of property and equipment are sold or retired, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is included in income. Impairment of Long-Lived Assets - Short-term Loan - The previous South African short-term loan that was payable in monthly installments of $6,601 over a ten-month period at a flat interest rate of 3.80% was repaid October 2023. The current short-term loan effective January 1, 2024 is payable in monthly installments of $5,652 over a ten-month period at a flat interest rate of 4.25%. Preferred Stock - Shipping and Handling Costs - Advertising - Patent-related Costs - Research and Development - Foreign Currency Translation and Foreign Currency Transactions - Stock-Based Compensation - Income Taxes - Income Taxes (continued) - The Company's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. As of December 31, 2023, and 2022, the Company has no unrecognized tax benefits. Net Income Per Share of Common Stock - Comprehensive Income - Fair Value of Financial Instruments - Concentration of Credit Risk - Concentration of Credit Risk (continued) - Statement of Cash Flows - Recently Adopted Accounting Pronouncements - In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-04, Liabilities-Supplier Finance Programs (Topic 405-50): Disclosure of Supplier Finance Program Obligations. This standard requires a buyer that uses supplier finance programs to make annual disclosures about the programs' key terms, the balance sheet presentation of related amounts, the confirmed amount outstanding at the end of the period and associated rollforward information. The Company adopted this standard effective January 1, 2023. The adoption did not have an impact on the Company's disclosures as the impact of supplier finance programs is not material to the Company's consolidated financial statements. Accounting Pronouncements Not Yet Adopted - The Company evaluated all ASU's issued by the FASB for consideration of their applicability. ASU's not included in the Company's disclosures were assessed and determined to be either not applicable or are not expected to have a material impact on the Company's consolidated financial statements.

INVENTORY

INVENTORY	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORY [Text Block]	NOTE 3 - INVENTORY Inventory consists primarily of finished goods. Shipping and handling costs are included in the cost of inventory. In assessing the inventory value, the Company must make estimates and judgments regarding reserves required for product obsolescence, aging of inventory and other issues potentially affecting the saleable condition of products. In performing such evaluations, the Company utilizes historical experience as well as current market information. The Company's products are manufactured by third parties predominantly in China and shipped to either a warehouse in Nevada, the corporate offices in South Africa or to distributors throughout South America, Africa, Europe, Asia, Australia and New Zealand. The reserve for obsolescence for the years ended December 31, 2023 and 2022 was $227,528 and $105,072, respectively. During the years ended December 31, 2023 and 2022 the Company wrote off and destroyed $377,403 and $348,376, respectively, of inventory which was deemed to be obsolete.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT [Text Block]	NOTE 4 - PROPERTY AND EQUIPMENT Property and equipment as of December 31, 2023, and 2022 consisted of the following: 2023 2022 Land $ 403,218 $ 285,752 Building 270,824 - Moulds and tools 9,215,686 7,904,381 Computer equipment and software 1,239,354 965,837 Office and other equipment 883,055 828,652 Vehicles 267,841 251,047 Leasehold improvements 120,670 126,975 $ 12,400,648 $ 10,362,644 Accumulated depreciation (8,373,827 ) (7,258,308 ) Property and equipment, net $ 4,026,821 $ 3,104,336

LEASES

LEASES	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASES [Text Block]	NOTE 5 - LEASES On December 14, 2020, Two Eleven entered into a Lease Agreement to lease warehouse and office space comprising approximately 43,056 square foot in Reno, Nevada. The lease was to commence upon the date of substantial completion of the landlord's work, as defined in the Lease Agreement. The lease commenced on August 2, 2021 and has a period of sixty-six (66) month lease term from such commencement date, subject to renewal, at Two Eleven's option, for an additional five (5) year term. The rent payable from the 3rd month following the commencement date through to the 14th month will be $21,959 and thereafter the rent payable will escalate in subsequent months in accordance with the terms of the Lease Agreement, up to a monthly payment of $25,455 in the 63rd through 66th month. The rent payable will exclude other associated costs, such as real estate taxes, association dues, insurance and other fees. The Company recognized an operating lease right-of-use asset and operating lease liability of $1,403,549 and $1,403,549 as of the lease commencement date. The interest rate for this lease agreement as of August 2, 2021, was 3.75%. On May 24, 2022, the Company entered into a non-cancellable operating lease for warehousing space in South Africa. The lease commenced on April 1, 2022 and expired in June 2023. The lease required the Company to pay a monthly rent of $851. The Company recognized an operating lease right-of-use asset and operating lease liability of $12,044 and $12,044 as of the lease commencement date. The interest rate for this lease agreement as of April 1, 2022 was 3.75%. On May 25, 2023, the Company entered into a non-cancellable operating lease for warehousing space in South Africa. The lease commenced on July 1, 2023 and expires in February 2025. The lease agreement requires the Company to pay a monthly rent of $854. The Company recognized an operating lease right-of-use asset and operating lease liability of $15,942 and $15,942 as of the lease commencement date. The interest rate for this lease agreement as of July 1, 2023 was 5.17 %. On February 24, 2022, the Company entered into a non-cancellable operating lease for warehousing space in South Africa. The lease commenced on April 1, 2022 and expired in August 2023. The lease agreement requires the Company to pay monthly rent of $1,628. The Company recognized an operating lease right-of-use asset and operating lease liability of $27,115 and $27,115 as of the lease commencement date. The interest rate for this lease agreement as of April 1, 2022 was 3.75%. The Company signed a renewal of the operating lease on May 23, 2023. The renewed lease commenced on September 1, 2023, and expires in February 2025. The lease agreement required the Company to pay a monthly rent of $1,632 for the first six months, and $ 1,746 for the following twelve months. The Company recognized an operating lease right-of-use asset and operating lease liability of $27,891 and $27,891 as of the lease commencement date. The interest rate for this lease agreement as of September 1, 2023 was 5.41%. As of December 31, 2023, the Company has three non-cancellable operating leases, for office and warehousing space, that expire in, February 2025 and January 2027. Rent expense for these operating leases is recognized over the term of the lease on a straight-line basis. Below is a summary of the Company's Operating Right-of-Use Assets and Operating Lease liabilities as of December 31, 2023 and 2022: 2023 2022 Assets Operating lease ROU assets $ 845,209 $ 1,092,170 Liabilities Operating lease liabilities, current $ 299,432 $ 280,743 Operating lease liabilities, net of current portion 545,777 811,427 Total operating lease liabilities $ 845,209 $ 1,092,170 For the years ended December 31, 2023, and December 31, 2022, the Company recognized $301,777 and $337,139, respectively in operating lease expenses, which are included in office lease and expenses in the Company's consolidated statements of operations and comprehensive income. Generally, the Company's lease agreements do not specify an implicit rate. Therefore, the Company estimates the incremental borrowing rate, which is defined as the interest rate the Company would pay to borrow on a collateralized basis, considering such factors as length of lease term and the risks of the economic environment in which the leased asset operates. As of December 31, 2023, and 2022, the following disclosures for remaining lease term and incremental borrowing rates were applicable: Supplemental disclosure December 31, December 31, Weighted average remaining lease term 3.55 years 5 years Weighted average discount rate 3.77% 3.75% Maturities of lease liabilities as of December 31, 2023 were as follows: Year ended December 31, Amounts under Operating Leases 2024 $ 313,049 2025 295,436 2026 298,791 2027 25,455 Total minimum lease payments $ 932,731 Less: amount representing interest $ (87,522 ) Total operating lease liabilities $ 845,209 Supplemental cash flow information for the years ended December 31, 2023, and 2022 are as follows: Year Ended Year Ended December 31, 2023 December 31, 2022 Cash paid for amounts included in the measurement of lease liabilities $ 301,777 $ 337,139 Right-of-use assets obtained in exchange for lease obligations $ 43,833 $ 41,163

PAYMENTS IN ADVANCE

PAYMENTS IN ADVANCE	12 Months Ended
	Dec. 31, 2023
Payments In Advance [Abstract]
PAYMENTS IN ADVANCE [Text Block]	NOTE 6 - PAYMENTS IN ADVANCE Payments in advance consists of upfront deposit payments made to suppliers for the purchase of assets including moulds, tooling and raw materials to be capitalized and used in the production of income in the future. Payments in advance of $664,754 and $1,047,137 as of December 31, 2023 and 2022 are recorded in current assets on the consolidated balance sheets.

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS [Text Block]	NOTE 7 - PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consists primarily of upfront deposit payments made to contract manufacturers for the manufacturing of the Company's products. Prepaid expenses and other current assets of $2,297,934 and $2,878,112 as of December 31, 2023 and 2022 are recorded in current assets on the consolidated balance sheets.

REVOLVING LINE OF CREDIT FACILI

REVOLVING LINE OF CREDIT FACILITY	12 Months Ended
	Dec. 31, 2023
Line of Credit Facility [Abstract]
REVOLVING LINE OF CREDIT FACILITY [Text Block]	NOTE 8 - REVOLVING LINE OF CREDIT FACILITY On November 19, 2018, the Company entered into a $1,000,000 revolving line of credit agreement with a bank. Advances under the line of credit bear interest at the LIBOR Daily Floating Rate plus 2.5 percentage points commencing January 1, 2019. The line of credit matured on November 19, 2020, at which time the unpaid principal, interest, or other charges outstanding under the agreement were due and payable. On November 5, 2020, the Company executed an amendment to the line of credit agreement to extend the credit facility through November 19, 2021. The amendment took retroactive effect to October 27, 2020 and introduced an index floor so that payments for any future advances will bear interest at the greater of the LIBOR Daily Floating Rate or an Index Floor of 1.25 percentage points plus 2.5 percentage points. Obligations under the line of credit are secured by equipment and fixtures in the United States of America, accounts receivable and inventory of Leatt Corporation and Two-Eleven Distribution, LLC. On March 1, 2021, the Company executed an amendment to the line of credit. The amendment took retroactive effect to February 17, 2021 and extended the line of credit facility through February 28, 2022 and increased the revolving line of credit to $1,500,000. Effective January 21, 2022, the Company executed an amendment agreement for the line of credit to extend the line of credit facility through February 28, 2023, and to replace interest determined by LIBOR Daily Floating Rate with the Bloomberg Short-Term Bank Yield Index rate. The Company and Two Eleven signed amended documents to secure the loan by equipment and fixtures, accounts receivable and inventory of Two-Eleven. Effective January 20, 2023, the Company executed an amendment to the line of credit to extend the line of credit facility through February 29, 2024, to amend Banking days and update Successor Rate. The bank has extended the line of credit until March 1, 2025. The Company and Two Eleven signed updated documents to secure the loan by equipment and fixtures, accounts receivable and inventory of Two-Eleven. As of December 31, 2023, and 2022, respectively there were no advances of the line of credit leaving $1,500,000 and $1,500,000 available for advances.

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
NOTE PAYABLE [Text Block]	NOTE 9 - NOTES PAYABLE Two Eleven entered into a Note Payable with a bank effective December 17, 2021 in the principal amount of $272,519, secured by equipment. The Note is payable in 36 consecutive monthly installments of $7,990, including interest at a fixed rate of 3.5370%, commencing February 5, 2022, and continuing to January 5, 2025. As of December 31, 2023, and 2022 $101,755 and $192,290 was outstanding. Two Eleven entered into a Note Payable with a bank effective December 1, 2022 in the principal amount of $58,075, secured by equipment. The Note is payable in 36 consecutive monthly installments of $1,816, including interest at a fixed rate of 7.8581%, commencing February 5, 2023, and continuing to January 5, 2026. As of December 31, 2023, and 2022 $41,755 and $58,075 was outstanding. 2023 2022 Liabilities Notes payable, current $ 112,858 $ 108,398 Notes payable, net of current portion 30,652 141,967 $ 143,510 $ 250,365 Principal Maturities of notes payable as of December 31, 2023 are as follows: Year ended December 31, Amounts under Notes Payable 2024 $ 112,858 2025 28,588 2026 2,064 $ 143,510

DEFERRED COMPENSATION

DEFERRED COMPENSATION	12 Months Ended
	Dec. 31, 2023
Deferred Compensation Arrangements [Abstract]
DEFERRED COMPENSATION [Text Block]	NOTE 10 - DEFERRED COMPENSATION Effective January 1, 2018, the Company entered into a Long Service Bonus Agreement with a key employee. Should the employee remain employed pursuant to his performance requirements in his contract for five years, he shall be entitled to a onetime gross bonus payment. For the duration of this Agreement, the Company shall make a provision of $80,000 per year for the five years as deferred compensation expense. As of December 31, 2023, and 2022, the Company has recorded $0 and $400,000, respectively as a liability for deferred compensation with respect to this Agreement. The $400,000 was paid in full on January 20, 2023.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY [Text Block]	NOTE 11 - STOCKHOLDERS' EQUITY On December 6, 2011, the Board of Directors adopted, and the shareholders subsequently approved, the 2011 Equity Incentive Plan (the "Plan") which provides for, among other incentives, the granting to employees, directors and consultants incentive stock options, non-statutory stock options, restricted stock, restricted stock units, stock appreciation rights, performance units and performance shares as the Plan Administrator may determine. In June 2013, the shareholders approved an increase in the maximum shares from 260,000 to 460,000. In December 2015, the shareholders approved an increase in the maximum number of shares from 460,000 to 920,000. In December 2018, the shareholders approved an increase in the maximum shares from 920,000 to 1,120,000. In December 2020, the shareholders approved an increase in the maximum number of shares approved for issuance under the plan from 1,120,000 to 1,320,000. In May 2023, the shareholders approved an increase in the maximum number of shares approved for issuance under the plan from 1,320,000 to 1,520,000. The maximum number of shares of common stock which may be issued under the Plan is 1,520,000. The maximum number of shares of common stock that may be awarded to an individual participant under the Plan in any one fiscal year is 78,000 shares. Options are generally exercisable at the fair market value or higher on the date of grant over a ten-year period. Shares are generally issued at the fair market value on the date of issuance. In February 2019, options to purchase 250,000 of the Company's common stock were granted to key employees and the outside director under the Plan at an exercise price of $2.30 per share, exercisable over a 10-year period. On the date of grant, 30% of the shares underlying these options immediately vested with a compensation expense of $82,530. On February 25, 2020, 20% of the shares underlying these options vested with a compensation expense of $55,020. On February 25, 2021, 20% of the shares underlying these options vested with a compensation expense of $55,020. On February 25, 2022, 30% of the shares underlying these options vested with a compensation expense of $82,530. The fair value of the stock options granted was estimated at the date of grant using Black Sholes option-pricing model. Based on the list of assumptions presented below, the fair value of the options granted during the year ended December 31, 2019, was $1.10 per share. The fair value of the stock options granted was estimated at the date of grant using the Black Sholes option-pricing model. The values of the options granted was calculated based on the list of assumptions presented below. 2019 Options Granted Expected terms in years 10 Years Risk-free interest rate 2.84% Expected volatility 32.35% Expected dividend yield 0.00% The expected volatility was determined with reference to the historical volatility of the Company's stock. The Company uses historical data to estimate option exercise and employee termination within the valuation model. The expected term of options granted represents the period of time during which the options granted are expected to be outstanding. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury rate in effect at the time of grant. Total stock-based compensation expense related to vested stock options recognized during the years ended December 31, 2023 and 2022 was $0 and $82,530. As of December 31, 2023, there was $0 of unrecognized compensation costs related to unvested stock options. A summary of information related to stock option activity during the years ended December 31, 2023 and 2022 is as follows: Outstanding Weighted - Aggregate Stock Average Exercise Intrinsic Options Price Value Options outstanding at January 1, 2022 508,000 $1.00 to $2.60 $ 3,733,600 Stock options exercised (287,000 ) Options outstanding at December 31, 2022 221,000 $1.00 to $2.60 $ 15,377,200 Stock options exercised - Options outstanding at December 31, 2023 221,000 $1.00 to $2.60 $ 3,711,500 Options vested and exercisable at December 31, 2023 221,000 $ 1.60 to $2.60 $ 1,623,050 The intrinsic value is the difference between the current fair value of the stock and the exercise price of the stock option. The weighted-average remaining contractual life of options outstanding, vested and exercisable as of December 31, 2023 is one to ten years. On December 29, 2020, the Company's Board approved the award of 41,350 restricted shares of the Company's common stock to key employees and the outside director, pursuant to a Restricted Stock Award Agreement, under the Company's 2011 Equity Incentive Plan. On the date of grant, 60% of the shares underlying these options immediately vested with a compensation expense of $176,151. On December 29, 2021, 20% of the shares vested with a compensation expense of $58,717. On December 29, 2022, 20% of the shares vested with a compensation expense of $58,717. The fair value of the stock granted, calculated in accordance with the plan, was $7.10 per share. On December 22, 2021, the Company's Board approved the award of 41,050 restricted shares of the Company's common stock to key employees and the outside director, pursuant to a Restricted Stock Award Agreement, under the Company's 2011 Equity Incentive Plan. On the date of grant, 1,050 shares vested, thereafter on December 31, 2021 60% of the remaining shares vested with a total compensation expense of $753,003. On March 31, 2022, 10% vested with a total compensation expense of $120,240. On June 30, 2022 10% vested with a total compensation expense of $120,240. On September 30, 2022 10% vested with a total On December 22, 2022, the Company's Board approved the award of 29,000 restricted shares of the Company's common stock to key employees and the outside director, pursuant to a Restricted Stock Award Agreement, under the Company's 2011 Equity Incentive Plan. On the date of grant all 29,000 shares vested with a total compensation expense of $536,790. The fair value of the stock granted, calculated in accordance with the plan, was $18.51 per share. On December 21, 2023, the Company's Board approved the award of 244,100 restricted shares of the Company's common stock to key employees, contractors and the outside director, pursuant to a Restricted Stock Award Agreement, under the Company's 2011 Equity Incentive Plan. On December, 22, 2023, 10,675 shares vested with a total compensation expense of $100,132. The remainder of the 233,425 shares will vest annually in tranches until final vesting date of December 22, 2028. The fair value of the stock granted, calculated in accordance with the plan, was $9.38 per share. Stock-based compensation expense related to vested restricted stock awards during the years ended, December 31, 2023 and 2022 was $100,131 and $1,076,467, respectively. As of December 31, 2023 and 2022, there was $2,189,527 and $0, respectively of unrecognized compensation cost related to unvested restricted stock. In January 2022, the Company issued 78,000 shares of common stock to an employee who exercised stock options. In March 2022, the Company issued 40,000 shares of common stock to two employees who exercised stock options. In May 2022, the Company issued 35,209 shares of common stock to an employee who exercised stock options in a cashless exercise. In December 2022, the Company issued 115,448 shares of common stock to a director and two employees who exercised stock options in a cashless exercise.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES [Text Block]	NOTE 12 - INCOME TAXES The Company's income tax expense (benefit) for the years ended December 31, 2023 and 2022 consists of the following components: 2023 2022 Current Federal $ 678,000 $ 3,037,973 State 66,889 182,000 Deferred 744,889 3,219,973 Federal (168,700 ) (177,100 ) Income tax expense $ 576,189 $ 3,042,873 The Company's effective income tax expense differs from the federal statutory amount because of the effect of the following items: 2023 2022 Federal tax statutory rate 21.00% 21.00% State tax statutory rate 2.25% 1.20% Effect of prior year (over) under provision 8.00% -1.20% Timing and permanent differences 10.00% 2.40% Valuation Allowance 0.00% 0.00% 41.25% 23.40% Deferred income taxes (benefit) reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and the tax effects of net operating losses that are available to offset future taxable income. Significant components of the Company's deferred tax assets (liabilities) at December 31, 2023 and 2022 consist of the following: 2023 2022 Deferred tax assets: Accounts receivable $ 172,400 $ 185,900 Inventory 58,500 52,600 Payroll differences 25,700 (31,900 ) Net operating loss carryforwards 819,000 1,023,000 Less valuation allowance (819,000 ) (1,023,000 ) Deferred tax assets, net $ 256,600 $ 206,600 Deferred tax liabilities: Depreciation (172,400 ) (272,800 ) Deferred tax assets (liabilities), net $ 84,200 $ (66,200 ) In assessing the ultimate realization of deferred tax assets and liabilities, management considers whether it is more likely than not that some or all of them will not be realized. The Company established a valuation allowance for the use of its state tax net operating loss carry forwards due to uncertain state tax profitability in the jurisdictions within which the losses were incurred. Changes in the tax system by certain states has prevented the Company from utilizing any portion of its state tax net operating loss carry forwards in 2023, and for tax years 2024 and 2025. While the future level of profitability is uncertain, due in part to the uncertain economic climate and its impact on our future levels of profitability, the change in the location of the USA warehouse in 2022 will impact the utilization of the state tax net operating loss carry forwards. As of both December 31, 2023, and 2022, the Company has approximately $11,700,000 of net operating loss carry forwards to offset certain future state taxable income, expiring in 2029. The Company files a consolidated federal and separate company state income tax returns in the United States. As of December 31, 2023, the tax years that remain subject to examination are 2020 to 2023 for federal and state tax purposes. The Company has reviewed its open tax positions and determined that no exposures exist that require an adjustment as of December 31, 2023 or 2022. While the Company believes that it has performed adequate procedures to identify all reasonably identifiable exposures, it is possible that exposures exist and that these exposures will need to be assessed and may potentially have a material impact on the Company's consolidated financial statements.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS [Text Block]	NOTE 13 - RELATED PARTY TRANSACTIONS Royalty fees associated with sales of Leatt-Brace® products are paid to Holdings, a company owned by a director, and a related individual who is a shareholder. Royalties are based on 5% of the cash received from net sales of the neck braces worldwide and totaled $155,076 and $304,787 for the years ended December 31, 2023 and 2022. The term of the royalty agreement is for the life of the intellectual property. As of December 31, 2023, and 2022, accrued royalties totalled $12,153 and $18,661. On November 8, 2021, the Company entered into a consulting agreement with Innovation Services Limited, or Innovation, a Jersey limited company in which the Company's founder and chairman is an indirect beneficiary, pursuant to which Innovation served as the Company's exclusive research, development and marketing consultant. Monthly consulting fees amounting to $ 44,371 were payable effective January 1, 2023 until June 30, 2023, and increased to $45,463 effective July 1, 2023. During the years ended December 31, 2023 and 2022, the Company recognized and aggregate of $538,001 and $519,468, respectively in consulting fees to Innovation.

RETIREMENT PLANS

RETIREMENT PLANS	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
RETIREMENT PLANS [Text Block]	NOTE 14 - RETIREMENT PLANS Effective January 1, 2019, the Company implemented a retirement plan under the provisions of Section 401(k) of the Internal Revenue Code for the benefit of the Company's U.S. based employees. Effective June 1, 2019, the Company implemented a provident fund for the benefit of the Company's permanent South African based employees. The Company makes a matching contribution equal to 100% of the first 4% of participants' compensation which is deferred as an elective deferral. For the years ending December 31, 2023, and 2022, the Company contributed $31,046 and $28,224 on behalf of the Company's U.S. based employees to the retirement plan. The Company contributes a minimum of 5.5% on behalf of the Company's S.A. based employees to the provident fund on a salary sacrifice basis. For the years ending December 31, 2023 and 2022, the Company contributed $65,182 and $63,478 on behalf of the Company's South African based employees.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES [Text Block]	NOTE 15 - COMMITMENTS AND CONTINGENCIES Litigation/Potential Litigation In the ordinary course of business, the Company is involved in various legal proceedings involving product liability and personal injury and intellectual property litigation. The Company is insured against loss for certain of these matters. The Company will record contingent liabilities resulting from asserted and unasserted claims against it when it is probable that a liability has been incurred and the amount of the loss is reasonably estimable. The Company will disclose contingent liabilities when there is a reasonable possibility that the ultimate loss will exceed the recorded liability. While the outcome of currently pending litigation is not yet determinable, the ultimate exposure with respect to these matters cannot be ascertained. However, based on the information currently available to the Company, the Company does not expect that any liabilities or costs that might be incurred to resolve these matters will have a material adverse effect on the financial condition, results of operations, liquidity or cash flow of the Company.

RISKS AND UNCERTAINTIES

RISKS AND UNCERTAINTIES	12 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
RISKS AND UNCERTAINTIES [Text Block]	NOTE 16 - RISKS AND UNCERTAINTIES The COVID-19 pandemic had an adverse impact on global shipping and supply chains which caused a disruption in our customers' ordering patterns and ultimately inflated certain industry wide stock levels. This was further compounded by the global economic slowdown experienced worldwide due to a high inflationary environment and geo-political instability. Elevated industry wide inventory levels and adverse economic conditions compounded by resultant foreign exchange rate volatility may continue to impact levels of dealer and distributor ordering and ultimately consumer spending in the foreseeable future, which may affect the Company's profitability, and could have a negative impact on the Company's results of operations for the coming periods and beyond.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS [Text Block]	NOTE 17 - SUBSEQUENT EVENTS On the January 25, 2023, the Bank confirmed in writing that effective the February 29, 2024, the line of credit would be extended through March 1, 2025. The Company has evaluated all subsequent events through March 13,2024, the date the financial statements were released.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Principles of Consolidation [Policy Text Block]	Principles of Consolidation -
Use of Estimates [Policy Text Block]	Use of Estimates -
Revenue and Cost Recognition [Policy Text Block]	Revenue and Cost Recognition - Revenues from product sales are recognized when earned, net of applicable provisions for discounts and returns and allowances in the event of product defect where no exchange of product is possible. Revenue and Cost Recognition (continued) - The Company's standard distributor payment terms range from pre-payment in full to 60 days after shipment and subsequent sales of product by distributors have no effect on the amount and timing of payments due to the Company, however, in limited instances qualified distributors and dealers may be granted extended payment terms during selected order periods. In performing such evaluations, the Company utilizes historical experience, sales performance, and credit risk requirements. Furthermore, products purchased by distributors may not be returned to the Company in the event that any such distributor relationship is terminated. Since the Company (through its wholly-owned subsidiary) serves as the distributor of Leatt products in the United States, the Company records its revenue and related cost of revenue for its product sales in the United States upon shipment of the merchandise to the dealer or to the ultimate consumer when there is no dealer in the geographic area or the consumer chooses to purchase directly from the Company's e-commerce website and the sales order was received directly from, and paid by, the ultimate consumer. Since the Company (through its South African branch) serves as the distributor of Leatt products in South Africa, the Company records its revenue and related cost of revenue for its product sales in South Africa upon shipment of the merchandise from the branch to the dealer. The Company's standard terms and conditions of sale for non-consumer direct or web-based sales do not allow for product returns other than under warranty. Sales totalling $31,671 and $2,509,534 were deferred as all the requirements to have a contract with the customer in accordance with ASC 606 had not been met as of December 31, 2023, and December 31, 2022, respectively. The shipped goods associated with these deferred sales are included in the caption deferred asset, net of an allowance for potential loss of $6,400 and $105,071 for December 31, 2023 and December 31, 2022, respectively. International sales (other than in the United States and South Africa) are generally drop-shipped directly from our consolidation warehouse or the third-party manufacturer to the international distributors. Revenue and related cost of revenue is recognized at the time of shipment from the manufacturer's port when the shipping terms are Free On Board ("FOB") shipping point, Cost and Freight ("CFR") or Cost and Insurance to named place ("CIP") as legal title and risk of loss to the product pass to the distributor. Sales to all customers (distributors, dealers and consumers) are generally final; however, in limited instances, product may be returned and exchanged due to product quality issues. Historically, returns due to product quality issues have not been material and there have been no distributor terminations that resulted in product returns. Cost of revenues also includes royalty fees associated with sales of Leatt-Brace products. Product royalty income is recorded as the underlying product sales occur, in accordance with the related licensing arrangements. Revenue and Cost Recognition (continued) - Year Ended December 31, 2023 % of Revenues 2022 % of Revenues Consumer and athlete direct revenues $ 3,019,750 7% $ 2,566,214 4% Dealer direct revenues 11,909,810 25% 16,201,781 21% International distributor revenues 32,311,627 68% 57,567,544 75% $47,241,187 100% $76,335,539 100% The Company reviews the reserves for customer returns at each reporting period and adjusts them to reflect data available at that time. To estimate reserves for returns, the Company estimates the expected returns and claims based on historical rates as well as events and circumstances that indicate changes to historical rates of product returns and claims. Historically, returns due to product quality issues have not been material and there have been no distributor terminations that resulted in product returns. The provision for estimated returns at December 31, 2023 and December 31, 2022 was $0, and $0, respectively. Sales commissions are expensed when incurred, which is generally at the time of sale, because the amortization period would have been one year or less. These costs are recorded in commissions and consulting expenses within operating expenses in the accompanying consolidated statements of operations and comprehensive income. Shipping and handling activities associated with outbound freight, after control over a product has transferred to a customer, are accounted for as a fulfilment cost and are included in revenues and cost of revenues in the accompanying consolidated statements of operations and comprehensive income. Revenue recognized from contracts with customers is recorded net of sales taxes, value added taxes, or similar taxes that are collected on behalf of local taxing authorities.
Operating leases [Policy Text Block]	Operating leases -
Accounts Receivable and Allowance for Doubtful Accounts [Policy Text Block]	Accounts Receivable and Allowance for Doubtful Accounts - Accounts Receivable and Allowance for Doubtful Accounts (continued)
Inventory [Policy Text Block]	Inventory -
Property and Equipment [Policy Text Block]	Property and Equipment - The cost of improvements that extend the lives of the assets are capitalized. Repairs and maintenance are expensed as incurred. When items of property and equipment are sold or retired, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is included in income.
Impairment of Long-Lived Assets [Policy Text Block]	Impairment of Long-Lived Assets -
Short-term Loan [Policy Text Block]	Short-term Loan - The previous South African short-term loan that was payable in monthly installments of $6,601 over a ten-month period at a flat interest rate of 3.80% was repaid October 2023. The current short-term loan effective January 1, 2024 is payable in monthly installments of $5,652 over a ten-month period at a flat interest rate of 4.25%.
Preferred Stock [Policy Text Block]	Preferred Stock -
Shipping and Handling Costs [Policy Text Block]	Shipping and Handling Costs -
Advertising [Policy Text Block]	Advertising -
Patent-related Costs [Policy Text Block]	Patent-related Costs -
Research and Development [Policy Text Block]	Research and Development -
Foreign Currency Translation and Foreign Currency Transactions [Policy Text Block]	Foreign Currency Translation and Foreign Currency Transactions -
Stock-Based Compensation [Policy Text Block]	Stock-Based Compensation -
Income Taxes [Policy Text Block]	Income Taxes - Income Taxes (continued) - The Company's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. As of December 31, 2023, and 2022, the Company has no unrecognized tax benefits.
Net Income Per Share of Common Stock [Policy Text Block]	Net Income Per Share of Common Stock -
Comprehensive Income [Policy Text Block]	Comprehensive Income -
Fair Value of Financial Instruments [Policy Text Block]	Fair Value of Financial Instruments -
Concentration of Credit Risk [Policy Text Block]	Concentration of Credit Risk - Concentration of Credit Risk (continued) -
Statement of Cash Flows [Policy Text Block]	Statement of Cash Flows -
Recently Adopted Accounting Pronouncements [Policy Text Block]	Recently Adopted Accounting Pronouncements - In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-04, Liabilities-Supplier Finance Programs (Topic 405-50): Disclosure of Supplier Finance Program Obligations. This standard requires a buyer that uses supplier finance programs to make annual disclosures about the programs' key terms, the balance sheet presentation of related amounts, the confirmed amount outstanding at the end of the period and associated rollforward information. The Company adopted this standard effective January 1, 2023. The adoption did not have an impact on the Company's disclosures as the impact of supplier finance programs is not material to the Company's consolidated financial statements.
Accounting Pronouncements Not Yet Adopted [Policy Text Block]	Accounting Pronouncements Not Yet Adopted - The Company evaluated all ASU's issued by the FASB for consideration of their applicability. ASU's not included in the Company's disclosures were assessed and determined to be either not applicable or are not expected to have a material impact on the Company's consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of disaggregation of revenue [Table Text Block]	Year Ended December 31, 2023 % of Revenues 2022 % of Revenues Consumer and athlete direct revenues $ 3,019,750 7% $ 2,566,214 4% Dealer direct revenues 11,909,810 25% 16,201,781 21% International distributor revenues 32,311,627 68% 57,567,544 75% $47,241,187 100% $76,335,539 100%

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment [Table Text Block]	2023 2022 Land $ 403,218 $ 285,752 Building 270,824 - Moulds and tools 9,215,686 7,904,381 Computer equipment and software 1,239,354 965,837 Office and other equipment 883,055 828,652 Vehicles 267,841 251,047 Leasehold improvements 120,670 126,975 $ 12,400,648 $ 10,362,644 Accumulated depreciation (8,373,827 ) (7,258,308 ) Property and equipment, net $ 4,026,821 $ 3,104,336

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of operating right-of-use assets and lease liabilities [Table Text Block]	2023 2022 Assets Operating lease ROU assets $ 845,209 $ 1,092,170 Liabilities Operating lease liabilities, current $ 299,432 $ 280,743 Operating lease liabilities, net of current portion 545,777 811,427 Total operating lease liabilities $ 845,209 $ 1,092,170
Schedule of remaining lease term and incremental borrowing rates [Table Text Block]	Supplemental disclosure December 31, December 31, Weighted average remaining lease term 3.55 years 5 years Weighted average discount rate 3.77% 3.75%
Schedule of maturities of lease liabilities [Table Text Block]	Year ended December 31, Amounts under Operating Leases 2024 $ 313,049 2025 295,436 2026 298,791 2027 25,455 Total minimum lease payments $ 932,731 Less: amount representing interest $ (87,522 ) Total operating lease liabilities $ 845,209
Schedule of supplemental cash flow information [Table Text Block]	Year Ended Year Ended December 31, 2023 December 31, 2022 Cash paid for amounts included in the measurement of lease liabilities $ 301,777 $ 337,139 Right-of-use assets obtained in exchange for lease obligations $ 43,833 $ 41,163

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of note payable [Table Text Block]	2023 2022 Liabilities Notes payable, current $ 112,858 $ 108,398 Notes payable, net of current portion 30,652 141,967 $ 143,510 $ 250,365
Schedule of principal maturities of note payable [Table Text Block]	Year ended December 31, Amounts under Notes Payable 2024 $ 112,858 2025 28,588 2026 2,064 $ 143,510

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of share-based payment award, stock options, valuation assumptions [Table Text Block]	2019 Options Granted Expected terms in years 10 Years Risk-free interest rate 2.84% Expected volatility 32.35% Expected dividend yield 0.00%
Schedule of share-based payment arrangement, option, activity [Table Text Block]	Outstanding Weighted - Aggregate Stock Average Exercise Intrinsic Options Price Value Options outstanding at January 1, 2022 508,000 $1.00 to $2.60 $ 3,733,600 Stock options exercised (287,000 ) Options outstanding at December 31, 2022 221,000 $1.00 to $2.60 $ 15,377,200 Stock options exercised - Options outstanding at December 31, 2023 221,000 $1.00 to $2.60 $ 3,711,500 Options vested and exercisable at December 31, 2023 221,000 $ 1.60 to $2.60 $ 1,623,050

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of components of income tax expense (benefit) [Table Text Block]	2023 2022 Current Federal $ 678,000 $ 3,037,973 State 66,889 182,000 Deferred 744,889 3,219,973 Federal (168,700 ) (177,100 ) Income tax expense $ 576,189 $ 3,042,873
Schedule of effective income tax rate reconciliation [Table Text Block]	2023 2022 Federal tax statutory rate 21.00% 21.00% State tax statutory rate 2.25% 1.20% Effect of prior year (over) under provision 8.00% -1.20% Timing and permanent differences 10.00% 2.40% Valuation Allowance 0.00% 0.00% 41.25% 23.40%
Schedule of deferred tax assets and liabilities [Table Text Block]	2023 2022 Deferred tax assets: Accounts receivable $ 172,400 $ 185,900 Inventory 58,500 52,600 Payroll differences 25,700 (31,900 ) Net operating loss carryforwards 819,000 1,023,000 Less valuation allowance (819,000 ) (1,023,000 ) Deferred tax assets, net $ 256,600 $ 206,600 Deferred tax liabilities: Depreciation (172,400 ) (272,800 ) Deferred tax assets (liabilities), net $ 84,200 $ (66,200 )

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Summary Of Significant Accounting Policies [Line Items]
Deferred sales	$ 31,671	$ 2,509,534
Deferred Asset Allowance Net	6,400	105,071
Provision for estimated returns	0	0
Allowance for short-term doubtful account	662,612	743,621
Allowance for long-term doubtful account	26,929	0
Inventory reserve for obsolescence	$ 227,528	105,072
Preferred stock converted common stock conversion ratio	1
Voting rights for each share of preferred stock	100
Patent-related costs	$ 159,063	129,282
Foreign currency translation	$ (317,115)	(301,875)
Weighted-average number of potential common shares	341,000
Weighted-average number of preferred shares	120,000
Number of options to purchase that are dilutive	221,000
Cash, uninsured amount	$ 10,985,946	6,813,511
Revenues	47,241,187	$ 76,335,539
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash, FDIC insured amount	$ 250,000
Moulds and tools [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and Equipment, estimated useful life	2 years
Moulds and tools [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and Equipment, estimated useful life	5 years
Computer equipment and software [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and Equipment, estimated useful life	2 years
Computer equipment and software [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and Equipment, estimated useful life	5 years
Office and other equipment [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and Equipment, estimated useful life	3 years
Office and other equipment [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and Equipment, estimated useful life	6 years
Vehicles [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and Equipment, estimated useful life	3 years
Vehicles [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and Equipment, estimated useful life	5 years
Leasehold improvements [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and Equipment, estimated useful life	3 years
Leasehold improvements [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and Equipment, estimated useful life	5 years
Building [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and Equipment, estimated useful life	40 years
Previous U.S. short-term loan [Member]
Summary Of Significant Accounting Policies [Line Items]
Short-term loan, monthly payment	$ 123,537
Short-term loan, interest rate	8.25%
Current U.S. short-term loan [Member]
Summary Of Significant Accounting Policies [Line Items]
Short-term loan, monthly payment	$ 132,515
Short-term loan, interest rate	9.88%
Previous South African short-term loan [Member]
Summary Of Significant Accounting Policies [Line Items]
Short-term loan, monthly payment	$ 6,601
Short-term loan, interest rate	3.80%
Current South African short-term loan [Member]
Summary Of Significant Accounting Policies [Line Items]
Short-term loan, monthly payment	$ 5,652
Short-term loan, interest rate	4.25%
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	100%	100%
Revenues	$ 47,241,187	$ 76,335,539
One customer - U.S. Revenue [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	6%	9%
One customer - Accounts receivable [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	5%	0.30%
Accounts receivable, net	$ 370,027	$ 45,030
One customer - International Revenue [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	8%	12%
One customer - International Accounts receivable [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	0%	11%
Accounts receivable, net	$ 0	$ 1,812,924
International Revenue [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	70%	77%
Revenues	$ 33,271,920	$ 59,020,266

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of disaggregation of revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Summary Of Significant Accounting Policies [Line Items]
Revenues	$ 47,241,187	$ 76,335,539
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Summary Of Significant Accounting Policies [Line Items]
Revenues	$ 47,241,187	$ 76,335,539
% of Revenues	100%	100%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Consumer and athlete direct revenues [Member]
Summary Of Significant Accounting Policies [Line Items]
Revenues	$ 3,019,750	$ 2,566,214
% of Revenues	7%	4%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Dealer direct revenues [Member]
Summary Of Significant Accounting Policies [Line Items]
Revenues	$ 11,909,810	$ 16,201,781
% of Revenues	25%	21%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | International distributor revenues [Member]
Summary Of Significant Accounting Policies [Line Items]
Revenues	$ 32,311,627	$ 57,567,544
% of Revenues	68%	75%

INVENTORY (Narrative) (Details)

INVENTORY (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventory reserve for obsolescence	$ 227,528	$ 105,072
Inventory wrote off and destroyed	$ 377,403	$ 348,376

PROPERTY AND EQUIPMENT - Schedu

PROPERTY AND EQUIPMENT - Schedule of property, plant and equipment (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 12,400,648	$ 10,362,644
Accumulated depreciation	(8,373,827)	(7,258,308)
Property and equipment, net	4,026,821	3,104,336
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	403,218	285,752
Building [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	270,824	0
Moulds and tools [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,215,686	7,904,381
Computer equipment and software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,239,354	965,837
Office and other equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	883,055	828,652
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	267,841	251,047
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 120,670	$ 126,975

LEASES (Narrative) (Details)

LEASES (Narrative) (Details) - USD ($)		1 Months Ended				12 Months Ended
	Dec. 14, 2020	May 25, 2023	May 23, 2023	May 24, 2022	Feb. 24, 2022	Dec. 31, 2023	Dec. 31, 2022	Jul. 01, 2023	Apr. 01, 2022	Aug. 02, 2021
Lessee, Lease, Description [Line Items]
Operating lease to be paid, after five year						$ 25,455
Operating lease expense						301,777	$ 337,139
Operating lease right-of-use assets, net						845,209	1,092,170
Operating lease, liability						845,209	$ 1,092,170
Lease agreement to lease warehouse and office space in Reno, Nevada [Member]
Lessee, Lease, Description [Line Items]
Operating lease monthly rent	$ 21,959
Operating lease right-of-use assets, net	1,403,549
Operating lease, liability	$ 1,403,549
Interest rate for lease agreement										3.75%
Lease agreement, term	66 months
Additional lease agreement, term	5 years
Lease agreement for warehousing space in South Africa [Member]
Lessee, Lease, Description [Line Items]
Operating lease monthly rent		$ 854	$ 1,632	$ 851	$ 1,628	$ 1,746
Operating lease right-of-use assets, net		15,942	27,891	12,044	27,115
Operating lease, liability		$ 15,942	$ 27,891	$ 12,044	$ 27,115
Interest rate for lease agreement			5.41%					5.17%	3.75%

LEASES - Schedule of operating

LEASES - Schedule of operating right-of-use assets and lease liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Assets
Operating lease ROU assets	$ 845,209	$ 1,092,170
Liabilities
Operating lease liabilities, current	299,432	280,743
Operating lease liabilities, net of current portion	545,777	811,427
Total operating lease liabilities	$ 845,209	$ 1,092,170

LEASES - Schedule of remaining

LEASES - Schedule of remaining lease term and incremental borrowing rates (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted average remaining lease term	3 years 6 months 18 days	5 years
Weighted average discount rate	3.77%	3.75%

LEASES - Schedule of maturities

LEASES - Schedule of maturities of lease liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Amounts under Operating Leases
2024	$ 313,049
2025	295,436
2026	298,791
2027	25,455
Total minimum lease payments	932,731
Less: amount representing interest	(87,522)
Total operating lease liabilities	$ 845,209	$ 1,092,170

LEASES - Schedule of supplement

LEASES - Schedule of supplemental cash flow information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 301,777	$ 337,139
Right-of-use assets obtained in exchange for lease obligations	$ 43,833	$ 41,163

PAYMENTS IN ADVANCE (Narrative)

PAYMENTS IN ADVANCE (Narrative) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Payments In Advance [Abstract]
Payments in advance	$ 664,754	$ 1,047,137

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Narrative) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses and other current assets	$ 2,297,934	$ 2,878,112

REVOLVING LINE OF CREDIT FACI_2

REVOLVING LINE OF CREDIT FACILITY (Narrative) (Details) - USD ($)	1 Months Ended
	Oct. 27, 2020	Nov. 19, 2018	Dec. 31, 2023	Dec. 31, 2022	Feb. 28, 2022
Line of Credit Facility [Line Items]
Line of credit advanced			$ 112,858	$ 108,398
Revolving line of credit agreement [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,000,000
Description of revolving line of credit agreement	the greater of the LIBOR Daily Floating Rate or an Index Floor of 1.25 percentage points plus 2.5 percentage points.	LIBOR Daily Floating Rate plus 2.5 percentage points
Line of credit available for advance			$ 1,500,000	$ 1,500,000
Subsequent Event [Member]
Line of Credit Facility [Line Items]
Line of credit available for advance					$ 1,500,000

NOTES PAYABLE (Narrative) (Deta

NOTES PAYABLE (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 01, 2022	Dec. 17, 2021
Short-Term Debt [Line Items]
Note payable	$ 143,510	$ 250,365
Effective December 17, 2021 [Member]
Short-Term Debt [Line Items]
Note payable	$ 101,755	192,290		$ 272,519
Note payable terms	36 months
Monthly instalments	$ 7,990
Fixed interest rate	3.537%
Effective December 1, 2022 [Member]
Short-Term Debt [Line Items]
Note payable	$ 41,755	$ 58,075	$ 58,075
Note payable terms	36 months
Monthly instalments	$ 1,816
Fixed interest rate	7.8581%

NOTES PAYABLE - Schedule of not

NOTES PAYABLE - Schedule of note payable (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Note payable, current	$ 112,858	$ 108,398
Note payable, net of current portion	30,652	141,967
Notes Payable, Total	$ 143,510	$ 250,365

NOTES PAYABLE - Schedule of pri

NOTES PAYABLE - Schedule of principal maturities of note payable (Details)	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 112,858
2025	28,588
2026	2,064
Total	$ 143,510

DEFERRED COMPENSATION (Narrativ

DEFERRED COMPENSATION (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Jan. 20, 2023	Dec. 31, 2022
Deferred Compensation Arrangements [Abstract]
Deferred compensation expense	$ 80,000
Provision of deferred compensation expense (in years)	5 years
Liability for deferred compensation	$ 0	$ 400,000	$ 400,000

STOCKHOLDERS' EQUITY (Narrative

STOCKHOLDERS' EQUITY (Narrative) (Details) - USD ($)	1 Months Ended																		12 Months Ended
	Dec. 22, 2023	Dec. 21, 2023	Dec. 30, 2022	Dec. 29, 2022	Dec. 22, 2022	Sep. 30, 2022	Jun. 30, 2022	May 31, 2022	Mar. 31, 2022	Feb. 25, 2022	Jan. 31, 2022	Dec. 31, 2021	Dec. 29, 2021	Dec. 22, 2021	Feb. 25, 2021	Dec. 29, 2020	Feb. 25, 2020	Feb. 28, 2019	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2020	May 31, 2023	Dec. 31, 2018	Dec. 31, 2015	Jun. 30, 2013	May 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation																			$ 100,131	$ 1,158,997
Stock-based compensation expense related to vested stock options																			0	$ 82,530
Unrecognized compensation expense of options unvested																			$ 0
Exercise of stock options (Shares)																			0	287,000
Restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to vested stock options																			$ 100,131	$ 1,076,467
Unrecognized compensation expense of options unvested																			$ 2,189,527	$ 0
2011 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized																					1,320,000	1,520,000	1,120,000	920,000	460,000	260,000
2011 Equity Incentive Plan - an individual participant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized																			78,000
Options granted February 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock share granted to key employees, consultants and directors under the plan																		250,000
Weighted average exercise price, stock options granted																		$ 2.3
Options, grants in period, contractual term																		10 years
Options, vested, percentage of options										30%					20%		20%	30%
Share-based compensation recognized										$ 82,530					$ 55,020		$ 55,020	$ 82,530
Estimated fair value of the stock options granted																					$ 1.1
Key employees and the outside director [Member] | 2011 Equity Incentive Plan [Member] | Restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards (Shares)	10,675	244,100			29,000									41,050		41,350
Options, vested, percentage of options			10%	20%		10%	10%		10%			60%	20%			60%
Share-based compensation recognized	$ 100,132		$ 120,240	$ 58,717	$ 536,790	$ 120,240	$ 120,240		$ 120,240			$ 753,003	$ 58,717			$ 176,151
Restricted shares issued, value per share					$ 18.51									$ 30.06		$ 7.1			$ 9.38
Restricted shares vested		233,425												1,050
Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise of stock options (Shares)								35,209	40,000		78,000								115,448

STOCKHOLDERS' EQUITY - Schedule

STOCKHOLDERS' EQUITY - Schedule of share-based payment award, stock options, valuation assumptions (Details)	12 Months Ended
	Dec. 31, 2021
Option Indexed to Issuer's Equity [Line Items]
Expected terms in years	10 years
Years Risk-free interest rate	2.84%
Expected volatility	32.35%
Expected dividend yield	0%

STOCKHOLDERS' EQUITY - Schedu_2

STOCKHOLDERS' EQUITY - Schedule of share-based payment arrangement, option, activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, beginning of period	221,000	508,000
Outstanding, Intrinsic Value, beginning of period	$ 15,377,200	$ 3,733,600
Stock options exercised	0	(287,000)
Options outstanding, end of period	221,000	221,000
Outstanding, Intrinsic Value, end of period	$ 3,711,500	$ 15,377,200
Options vested and exercisable	221,000
Intrinsic Value, Options vested and exercisable	$ 1,623,050
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Exercise Price, beginning of period	$ 1	$ 1
Weighted Average Exercise Price, end of period	1	1
Weighted Average Exercise Price, Options vested and exercisable	1.6
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Exercise Price, beginning of period	2.6	2.6
Weighted Average Exercise Price, end of period	2.6	$ 2.6
Weighted Average Exercise Price, Options vested and exercisable	$ 2.6

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 11,700,000	$ 11,700,000

INCOME TAXES - Schedule of comp

INCOME TAXES - Schedule of components of income tax expense (benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Current
Federal	$ 678,000	$ 3,037,973
State	66,889	182,000
Current	744,889	3,219,973
Deferred
Federal	(168,700)	(177,100)
Income tax expense	$ 576,189	$ 3,042,873

INCOME TAXES - Schedule of effe

INCOME TAXES - Schedule of effective income tax rate reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal tax statutory rate	21%	21%
State tax statutory rate	2.25%	1.20%
Effect of prior year (over) under provision	8%	(1.20%)
Timing and permanent differences	10%	2.40%
Valuation Allowance	0%	0%
Effective income tax rate reconciliation, percent	41.25%	23.40%

INCOME TAXES - Schedule of defe

INCOME TAXES - Schedule of deferred tax assets and liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Accounts receivable	$ 172,400	$ 185,900
Inventory	58,500	52,600
Payroll differences	25,700	(31,900)
Net operating loss carryforwards	819,000	1,023,000
Less valuation allowance	(819,000)	(1,023,000)
Deferred tax assets, net	256,600	206,600
Deferred tax liabilites:
Depreciation	(172,400)	(272,800)
Deferred tax assets (liabilities), net	$ 84,200	$ (66,200)

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Sales of Leatt-Brace products [Member]
Related Party Transaction [Line Items]
Royalty percentage			5%
Related party transaction, amounts of transaction			$ 155,076	$ 304,787
Accrued royalties	$ 12,153		12,153	18,661
Innovate [Member]
Related Party Transaction [Line Items]
Related party transactions, monthly consulting fees	$ 45,463	$ 44,371
Related party transaction, amounts of transaction			$ 538,001	$ 519,468

RETIREMENT PLANS (Narrative) (D

RETIREMENT PLANS (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Retirement plan [Member] | U.S. based employees [Member]
Defined Contribution Plan Disclosure [Line Items]
Contribution percentage by company	4%
Contribution amount of company	$ 31,046	$ 28,224
Provident fund [Member] | South African based employees [Member]
Defined Contribution Plan Disclosure [Line Items]
Contribution amount of company	$ 65,182	$ 63,478
Provident fund [Member] | South African based employees [Member] | Minimum [Member]
Defined Contribution Plan Disclosure [Line Items]
Contribution percentage by company	5.50%