Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

v3.22.4
LEASES (Tables)
12 Months Ended
Dec. 31, 2022
LEASES  
Schedule of operating lease

Assets:

 

December 31, 2022

 

 

December 31, 2021

 

Operating lease right-of-use asset

 

$ 189,282

 

 

$ 27,225

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

Current portion of long-term operating lease

 

$ 99,259

 

 

$ 15,178

 

Long-term operating lease, net of current portion

 

 

105,918

 

 

 

-

 

 

 

$ 205,177

 

 

$ 15,178

 

Schedule of Components of lease expense

 

 

For the Year ended

 

 

 

December 31, 2022

 

 

December 31, 2021

 

Operating lease expense

 

$ 102,249

 

 

$ 25,879

 

Summary of other information related to leases

 

 

For the Year ended

 

 

 

December 31, 2022

 

 

December 31, 2021

 

Weighted-average remaining lease term:

 

 

 

 

 

Operating leases

 

1.94 Years

 

 

1.08 Years

 

 

 

 

 

 

 

 

Discount rate:

 

 

 

 

 

 

Operating leases

 

 

11.00 %

 

 

11.00 %
Schedule of Supplemental cash flow information

 

 

For the Year ended

 

 

 

December 31,

2022

 

 

December 31,

2021

 

Cash paid for amounts included in the measurement of lease liabilities:

 

$ 74,307

 

 

$ 32,913

 

 Non-cash investment in ROU asset

 

 

                           241,694

 

 

 

                                     -

 

Schedule of maturities of operating lease liability

Year Ended:

 

Operating Lease

 

December 31, 2023

 

$ 116,933

 

December 31, 2024

 

 

111,956

 

Total minimum lease payments

 

$ 228,889

 

Less: Interest

 

 

(23,711)

 

Present value of lease obligations

 

$ 205,178

 

Less: Current portion

 

 

99,259

 

Long-term portion of lease obligations

 

$ 105,919