Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.2
LEASES (Tables)
6 Months Ended
Jun. 30, 2021
Leases  
SCHEDULE OF RIGHT-OF-USE ASSETS AND RELATED LEASE LIABILITIES

Information related to the Company’s right-of-use assets and related lease liabilities were as follows (Unaudited):

 

    Six Months Ended June 30,  
    2021     2020  
             
Cash paid for operating lease liabilities   $ 72,700     $ 108,200  
Right-of-use assets obtained in exchange for new operating lease obligations     -       118,100  
Weighted-average remaining lease term     62 months       62 months  
Weighted-average discount rate     10 %     10 %

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Maturities of lease liabilities as of June 30, 2021 were as follows:

    June 30, 2021  
2022   $ 84,500  
2023     87,000
2024     89,600  
2025     92,300  
2026     95,000  
Thereafter     16,200  
Lease liabilities     464,600  
Less imputed interest     (105,300 )
Total lease liabilities     359,300  
Current operating lease liabilities     48,900  
Non-current operating lease liabilities     310,400  
Total lease liabilities   $ 359,300