LEASES (Tables)
|
6 Months Ended |
Jun. 30, 2022 |
LEASES |
|
Schedule of lease liability |
|
|
June 30, |
|
|
December 31, |
|
|
|
2022 |
|
|
2021 |
|
Total lease liability |
|
$ |
377,167 |
|
|
$ |
435,405 |
|
Less: short term portion |
|
|
126,876 |
|
|
|
119,733 |
|
Long term portion |
|
$ |
250,291 |
|
|
$ |
315,672 |
|
|
Schedule of maturity analysis under lease agreements |
|
|
Total |
|
2022 |
|
$ |
75,576 |
|
2023 |
|
|
154,771 |
|
2024 |
|
|
159,420 |
|
2025 |
|
|
31,690 |
|
Subtotal |
|
|
421,457 |
|
Less: present value discount |
|
|
(44,290 |
) |
Lease liability |
|
$ |
377,167 |
|
|
Schedule of lease expense |
|
|
Three Months Ended |
|
|
|
June 30, |
|
|
|
2022 |
|
|
2021 |
|
Operating lease expense |
|
$ |
36,192 |
|
|
$ |
35,955 |
|
|
|
$ |
36,192 |
|
|
$ |
35,955 |
|
|
|
Six Months Ended |
|
|
|
June 30, |
|
|
|
2022 |
|
|
2021 |
|
Operating lease expense |
|
$ |
72,384 |
|
|
$ |
71,910 |
|
|
|
$ |
72,384 |
|
|
$ |
71,910 |
|
|
Schedule of Weighted-average remaining lease term |
|
|
June 30, |
|
|
December 31, |
|
|
|
2022 |
|
|
2021 |
|
Weighted-average remaining lease term |
|
|
2.6 |
|
|
|
3.1 |
|
Weighted-average discount rate |
|
|
8 |
% |
|
|
8 |
% |
|