Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.23.1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Rental Payments Required Under Operating Leases

Following is a schedule by years of future minimum rental payments required under operating leases with initial or remaining non-cancelable lease terms in excess of one year as of March 31, 2023:

 

Year   Total  
April 1 - December 31, 2023   $ 149,300  
2024     64,393  
2025     66,969  
2026     51,777  
2027     -  
Total future undiscounted lease payments     332,439  
Less imputed interest     (177,358 )
Present value of lease liabilities   $ 155,081  
Schedule of Right of Use Asset and the Corresponding Lease Liability

Below is a table for the right of use asset and the corresponding lease liability in the consolidated balance sheets:

 

Operating Leases   March 31, 2023     December 31, 2022  
Right of use asset   $ 191,816     $ 282,095  
Right of use liability, current   $ 65,029     $ 142,171  
Right of use liability, long term   $ 90,052     $ 139,924  
Total lease liability   $ 155,081     $ 282,095  
Schedule of Lease Cost for Operating Leases

The components of lease cost for operating leases for the three months ended March 31, 2023 and 2022 are as follows:

 

    March 31, 2023     March 31, 2022  
Operating lease cost   $ 37,810     $ 37,810  
Short-term lease cost     20,850       20,850  
Total lease cost   $ 58,660     $ 58,660