Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

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LEASES (Tables)
 9 Months Ended
Sep. 30, 2024
Leases  
SCHEDULE OF SUPPLEMENTAL CASH FLOWS INFORMATION RELATED TO LEASES

Supplemental cash flow information related to the Company’s operating and finance leases is as follows:

 

    For the Nine Months Ended  
    September 30,  
    2024     2023  
             
Cash paid for amounts included in the measurement of lease liabilities:                
Operating cash flows from operating leases   $ 124,174     $ 149,994  
Operating cash flows from finance lease   $ 632     $ -  
                 
Right-of-use assets obtained in exchange for lease obligations:                
Operating leases   $ -     $ -  
Finance lease   $ 75,734     $ -  
                 
Weighted Average Remaining Lease Term:                
Operating leases     -       4.6  
Finance lease     3.7       -  
                 
Weighted Average Discount Rate:                
Operating leases     7.0 %     7.0 %
Finance Lease     41.5 %     N/A  
SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENT

Future minimum lease commitments in connection with the Company’s finance lease are as follows:

 

         
For the period from October 1, 2024 through December 31, 2024   $ 9,212  
For the years ended December 31,        
2025     36,849  
2026     36,849  
2027     36,849  
2028     18,208  
Total future minimum lease payments     137,967  
Less: imputed interest     (68,488 )
Net future minimum lease payments     69,479  
Less: finance lease liabilities, current portion     (9,698 )
Finance lease liabilities, non-current portion   $ 59,781