Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.22.2.2
LEASES (Tables)
9 Months Ended
Sep. 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):

 

    Nine months ended September 30,  
    2022     2021  
             
Cash paid for operating lease liabilities   $ 100,100     $ 210,200  
Right-of-use assets obtained in exchange for new operating lease obligations     -       -  
Weighted-average remaining lease term     47       59 months  
Weighted-average discount rate     10 %     10 %
SCHEDULE OF MATURITIES OF LEASE LIABILITIES

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

 

         
2023   $ 87,600  
2024     90,300  
2025     93,000  
2026     88,000  
2027     -  
Thereafter     -  
Lease liabilities     358,900  
Less imputed interest     (64,000 )
Total lease liabilities     294,900  
         
Current operating lease liabilities     60,900  
Non-current operating lease liabilities     234,000  
Total lease liabilities   $ 294,900