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

LEASES (Tables)

6 Months Ended

Jun. 30, 2022

Supplemental balance sheet information related to leases is as follows as of June 30, 2022:

Operating leases
Right-of-use assets, net	$	4,899,059

Current liabilities		1,039,199
Non-current liabilities		3,797,491
Total operating lease liabilities	$	4,836,690

Weighted Average Remaining Lease Term		4.41 years

Weighted Average Discount Rate		4	%

Anticipated future lease costs are as follows:

For the years ending December 31,	Building leases
2022 (remaining)	$	589,810
2023		960,276
2024		1,311,858
2025		1,140,177
2026		1,082,177
Thereafter		359,916
Total lease payments		5,444,214
Less: imputed interest		(607,524	)
Present value of lease liabilities	$	4,836,690