Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.23.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
SCHEDULE OF SUPPLEMENTAL CASH FLOWS INFORMATION RELATED TO LEASES

Supplemental cash flow information related to leases was as follows:

 

    For the Six Months Ended June 30,  
    2023     2022  
             
Cash paid for amounts included in the measurement of lease liabilities:                
Operating cash flows from operating leases   $ 98,125     $ 82,296  
                 
Right-of-use assets obtained in exchange for lease obligations:                
Operating leases   $ -     $ -  
                 
Weighted Average Remaining Lease Term:                
Operating leases     4.8       5.8  
                 
Weighted Average Discount Rate:                
Operating leases     7.0 %     7.0 %
SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENT

Future minimum lease commitments are as follows:

 

         
For the period July 1 through December 31, 2023   $ 153,290  
For the years ended December 31,        
2024     336,102  
2025     357,881  
2026     368,617  
2027     365,004  
2028     120,463  
Total future minimum lease payments     1,701,357  
Less: imputed interest     (268,300 )
Net future minimum lease payments     1,433,057  
Less: operating lease liabilities, current portion     220,416  
Operating lease liabilities, non-current portion   $ 1,212,641