Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.22.2.2
LEASES (Tables)
6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
SCHEDULE OF SUPPLIEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES
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
%
SCHEDULE OF ANTICIPATED FUTURE LEASE COSTS
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