Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.22.2.2
LEASES (Tables)
6 Months Ended
Jun. 30, 2022
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,  
    2022     2021  
             
Cash paid for operating lease liabilities   $ 63,000     $ 72,700  
Right-of-use assets obtained in exchange for new operating lease obligations     -       -  
Weighted-average remaining lease term     50 months       62 months  
Weighted-average discount rate     10 %     10 %
SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Maturities of lease liabilities as of June 30, 2022 were as follows:

 

         
2022   $

43,300

 
2023    

88,300

 
2024    

90,900

 
2025    

93,600

 
2026    

64,400

 
Thereafter     -  
Lease liabilities     380,500  
Less imputed interest     (71,600 )
Total lease liabilities     308,900