| SCHEDULE OF OPERATING LEASE COST AND SUPPLEMENTAL CASH FLOW INFORMATION |
In
accordance with ASC 842, the components of lease expense were as follows:
SCHEDULE OF OPERATING LEASE COST AND SUPPLEMENTAL CASH FLOW INFORMATION
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months ended June 30, |
|
|
Three Months ended June 30, |
|
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| Operating lease expense |
|
$ |
35,838 |
|
|
$ |
35,838 |
|
|
$ |
17,919 |
|
|
$ |
17,919 |
|
| Short term lease cost |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| Total lease expense |
|
$ |
35,838 |
|
|
$ |
35,838 |
|
|
$ |
17,919 |
|
|
$ |
17,919 |
|
In
accordance with ASC 842, other information related to leases was as follows:
| Six Months ended June 30, |
|
2023 |
|
|
2022 |
|
| Operating cash flows from operating leases |
|
$ |
36,987 |
|
|
$ |
35,910 |
|
| Cash paid for amounts included in the measurement of lease liabilities |
|
$ |
36,987 |
|
|
$ |
35,910 |
|
| |
|
|
|
|
|
|
|
|
| Weighted-average remaining lease term—operating leases |
|
|
3.2 years |
|
|
|
4.2 years |
|
| Weighted-average discount rate—operating leases |
|
|
10 |
% |
|
|
10 |
% |
|
In
accordance with ASC 842, the components of lease expense were as follows:
SCHEDULE OF OPERATING LEASE COST AND SUPPLEMENTAL CASH FLOW INFORMATION
| |
|
2022 |
|
|
2021 |
|
| |
|
Years ended December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| Operating lease expense |
|
$ |
71,676 |
|
|
$ |
41,811 |
|
| Short term lease cost |
|
$ |
- |
|
|
$ |
- |
|
| Total lease expense |
|
$ |
71,676 |
|
|
$ |
41,811 |
|
In
accordance with ASC 842, other information related to leases was as follows:
| Years ended December 31, |
|
2022 |
|
|
2021 |
|
| Operating cash flows from operating leases |
|
$ |
72,714 |
|
|
$ |
17,866 |
|
| Cash paid for amounts included in the measurement of lease liabilities |
|
$ |
72,714 |
|
|
$ |
17,866 |
|
| |
|
|
|
|
|
|
|
|
| Weighted-average remaining lease term—operating leases |
|
|
3.67 years |
|
|
|
4.67 years |
|
| Weighted-average discount rate—operating leases |
|
|
10 |
% |
|
|
10 |
% |
|
| SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES |
In
accordance with ASC 842, maturities of operating lease liabilities as of June 30, 2023 were as follows:
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES
| |
|
Operating |
|
| Year ending: |
|
Lease |
|
| 2023 (remaining 6 months) |
|
$ |
37,908 |
|
| 2024 |
|
|
77,142 |
|
| 2025 |
|
|
79,456 |
|
| 2026 |
|
|
54,224 |
|
| Total undiscounted cash flows |
|
$ |
248,730 |
|
| |
|
|
|
|
| Reconciliation of lease liabilities: |
|
|
|
|
| Weighted-average remaining lease terms |
|
|
3.2 years |
|
| Weighted-average discount rate |
|
|
10 |
% |
| Present values |
|
$ |
215,147 |
|
| |
|
|
|
|
| Lease liabilities—current |
|
|
57,049 |
|
| Lease liabilities—long-term |
|
|
158,098 |
|
| Lease liabilities—total |
|
$ |
215,147 |
|
| |
|
|
|
|
| Difference between undiscounted and discounted cash flows |
|
$ |
33,583 |
|
Operating
lease cost was $17,919 and $35,838, and $17,919 and $35,838 for the three and six months ended June 30, 2023 and 2022, respectively.
|
In
accordance with ASC 842, maturities of operating lease liabilities as of December 31, 2022 were as follows:
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES
| |
|
Operating |
|
| Year ending: |
|
Lease |
|
| 2023 |
|
$ |
74,895 |
|
| 2024 |
|
|
77,142 |
|
| 2025 |
|
|
79,456 |
|
| 2026 |
|
|
54,225 |
|
| Total undiscounted cash flows |
|
$ |
285,718 |
|
| |
|
|
|
|
| Reconciliation of lease liabilities: |
|
|
|
|
| Weighted-average remaining lease terms |
|
|
3.67 years |
|
| Weighted-average discount rate |
|
|
10 |
% |
| Present values |
|
$ |
240,625 |
|
| |
|
|
|
|
| Lease liabilities—current |
|
|
53,200 |
|
| Lease liabilities—long-term |
|
|
187,425 |
|
| Lease liabilities—total |
|
$ |
240,625 |
|
| |
|
|
|
|
| Difference between undiscounted and discounted cash flows |
|
$ |
45,093 |
|
|