Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.24.2.u1
LEASES (Tables)
6 Months Ended
Jun. 30, 2024
LEASE  
Schedule of lease liability

 

 

June 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Total lease liability

 

$ 218,046

 

 

$ 133,677

 

Less: short term portion

 

 

38,491

 

 

 

122,732

 

Long term portion

 

$ 179,555

 

 

$ 10,945

 

Schedule of maturity analysis under lease agreements

 

 

Total

 

2024

 

$ 27,272

 

2025

 

 

54,544

 

2026

 

 

54,544

 

2027

 

 

54,544

 

2028

 

 

54,544

 

2029 and beyond

 

 

18,181

 

Subtotal

 

 

263,629

 

Less: Present value discount

 

 

(45,583 )

Lease liability

 

$ 218,046

 

Schedule of lease expense

 

 

Three Months Ended

 

 

 

June 30,

 

 

 

2024

 

 

2023

 

Operating lease expense

 

$ 18,339

 

 

$ 36,402

 

 

 

$ 18,339

 

 

$ 36,402

 

 

 

Six Months Ended

 

 

 

June 30,

 

 

 

2024

 

 

2023

 

Operating lease expense

 

$ 47,436

 

 

$ 72,804

 

 

 

$ 47,436

 

 

$ 72,804

 

Schedule of Weighted-average remaining lease term

 

 

June 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Weighted-average remaining lease term

 

 

4.8

 

 

 

1.0