Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.23.1
LEASES (Tables)
3 Months Ended
Mar. 31, 2023
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):

 

    Three Months Ended March 31,  
    2023     2022  
             
Cash paid for operating lease liabilities   $ 36,700     $ 36,700  
Right-of-use assets obtained in exchange for new operating lease obligations     -       -  
Weighted-average remaining lease term     41 months       53 months  
Weighted-average discount rate     10 %     10 %
SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Maturities of lease liabilities as of March 31, 2023 were as follows:

 

         
2023   $ 66,600  
2024     90,900  
2025     93,600  
2026     64,500  
2027     -  
Thereafter     -  
      315,600  
Less imputed interest     (49,900 )
Total lease liabilities     265,700  
Current operating lease liabilities     65,300  
Non-current operating lease liabilities     200,400  
Total lease liabilities   $ 265,700