Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.23.2
Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2023:

 

Year   Total  
July 1 – December 31, 2023   $ 75,057  
2024     64,393  
2025     66,969  
2026     51,777  
Total future undiscounted lease payments     258,196  
Less imputed interest     (111,650 )
Present value of lease liabilities   $ 146,546  
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   June 30, 2023     December 31, 2022  
Right of use asset   $ 175,750     $ 282,095  
Right of use liability, current   $ 65,640     $ 142,171  
Right of use liability, long term   $ 80,906     $ 139,924  
Total lease liability   $ 146,546     $ 282,095  
Schedule of Lease Cost for Operating Leases

The components of lease cost for operating leases for the six months ended June 30, 2023 and 2022 are as follows:

 

    June 30, 2023     June 30, 2022  
Operating lease cost   $ 64,310     $ 75,620  
Short-term lease cost     45,900       41,700  
Total lease cost   $ 110,210     $ 117,320