Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.2
LEASES (Tables)
9 Months Ended
Sep. 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):

 

    2021     2020  
    Nine Months Ended September 30,  
    2021     2020  
             
Cash paid for operating lease liabilities   $ 210,200     $ 234,600  
Right-of-use assets obtained in exchange for new operating lease obligations     -       59,100  
Weighted-average remaining lease term     59 months       7 months  
Weighted-average discount rate     10 %     10 %
SCHEDULE OF MATURITIES OF LEASE LIABILITIES

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

 

         
2022   $ 85,100  
2023     87,600  
2024     90,300  
2025     93,000  
2026     87,600  
Thereafter     -  
Lease liabilities     443,600  
Less imputed interest     (96,400 )
Total lease liabilities     347,200