Annual report pursuant to Section 13 and 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.23.1
COMMITMENTS AND CONTINGENCIES (Tables)
 12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
SCHEDULE OF SUPPLEMENTAL CASH FLOWS INFORMATION RELATED TO LEASES

Supplemental cash flow information related to leases was as follows:

    For the Year Ended December 31,  
    2022     2021  
             
Cash paid for amounts included in the measurement of lease liabilities:                
Operating cash flows from operating leases   $ 175,316     $ 155,484  
                 
Right-of-use assets obtained in exchange for lease obligations:                
Operating leases   $ -     $ 1,861,983  
                 
Weighted Average Remaining Lease Term:                
Operating leases     5.3       6.3  
                 
Weighted Average Discount Rate:                
Operating leases     N/A       7.0 %
SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENT

Future minimum lease commitments are as follows:

For the Years Ending December 31,   Amount  
2023   $ 303,603  
2024     336,102  
2025     357,881  
2026     368,617  
2027     365,004  
Thereafter     120,463  
Total future minimum lease payments     1,851,670  
Less: imputed interest     (320,487 )
Total   $ 1,531,183