Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.24.3
LEASES (Tables)
9 Months Ended
Sep. 30, 2024
LEASE  
Schedule of lease liability

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Total lease liability

 

$ 208,709

 

 

$ 133,677

 

Less: short term portion

 

 

39,266

 

 

 

122,732

 

Long term portion

 

$ 169,443

 

 

$ 10,945

 

Schedule of maturity analysis under lease agreements

 

 

Total

 

2024

 

$ 13,636

 

2025

 

 

54,544

 

2026

 

 

54,544

 

2027

 

 

54,544

 

2028

 

 

54,544

 

2029 and beyond

 

 

18,181

 

Subtotal

 

 

249,993

 

Less: Present value discount

 

 

(41,284 )

Lease liability

 

$ 208,709

 

Schedule of lease expense

 

 

Three Months Ended

 

 

 

September 30,

 

 

 

2024

 

 

2023

 

Operating lease expense

 

$ 13,636

 

 

$ 34,522

 

 

 

$ 13,636

 

 

$ 34,522

 

 

 

Nine Months Ended

 

 

 

September 30,

 

 

 

2024

 

 

2023

 

Operating lease expense

 

$ 61,072

 

 

$ 107,326

 

 

 

$ 61,072

 

 

$ 107,326

 

Schedule of Weighted-average remaining lease term

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Weighted-average remaining lease term

 

 

4.6

 

 

 

1.0