ToughBuilt Industries, Inc. Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

6 Months Ended

Jun. 30, 2023

Supplemental balance sheet information related to leases is as follows as of June 30, 2023:

Operating leases
Right-of-use assets, net	$	4,386,414

Current liabilities		1,182,351
Non-current liabilities		3,383,967
Total operating lease liabilities	$	4,566,318

Weighted Average Remaining Lease Term		3.56 years

Weighted Average Discount Rate		4%

Anticipated future lease costs are as follows:

For the years ending December 31,	Building leases
2023 (remaining)	$	743,835
2024		1,481,667
2025		1,245,379
2026		1,211,105
2027		333,915
Total lease payments		5,015,901
Less: imputed interest		449,583
Present value of lease liabilities	$	4,566,318