Quarterly report pursuant to Section 13 or 15(d)

Leases

v3.23.1
Leases
 3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Leases

Note 4 – Leases

 

Operating Leases

 

The Company has lease arrangements for office spaces and an equipment lease. These leases expire at various dates through 2024.

 

    As of and
for the Three
Months
Ended
March 31,
2023		  
       
Operating Lease Expense - net   $ 98,426  
         
Additional Lease Information:        
Weighted average remaining lease term-operating leases (in years)     2.0  
Weighted average discount rate-operating leases     7 %
         
Future minimum lease payments under non-cancellable leases as of March 31, 2023, were as follows:        
         
April 1, 2023 to March 31, 2024   $ 445,381  
April 1, 2024 to March 31, 2025     276,358  
April 1, 2025 to September 30,2025     197,940  
Total future minimum lease payments   $ 919,679  
Less portion representing interest     (20,000 )
Less current portion of lease obligations     (568,531 )
Long term portion of lease obligations   $ 331,148