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LEASES (Tables)
 9 Months Ended
Sep. 30, 2023
Leases  
SCHEDULE OF OPERATING RIGHT OF USE OF ASSETS

The following is a summary of the Company’s operating right-of-use assets and operating lease liabilities as of September 30, 2023:

 

      
Operating right-of-use assets  $799,104 
Operating lease liabilities - current  $725,832 
Operating lease liabilities - noncurrent  $169,821 
SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITIES

The table below reconciles the undiscounted future minimum lease payments under the above noted operating leases to the total operating lease liabilities recognized on the unaudited condensed consolidated balance sheet as of September 30, 2023:

 

      
Fiscal year 2023  $256,581 
Fiscal year 2024   604,987 
Fiscal year 2025   68,850 
Less: imputed interest   (34,765)
Present value of operating lease liabilities  $895,653 
SCHEDULE OF OTHER INFORMATION RELATED TO OPERATING LEASE LIABILITIES

Supplemental cash flow information related to operating lease liabilities consisted of the following:

 

   September 30, 
   2023   2022 
Cash paid for operating lease liabilities  $665,129   $517,871 

 

Supplemental balance sheet information related to operating lease liabilities consisted of the following:

 

   September 30, 2023   December 31, 2022 
Weighted average remaining lease term in years   2.13    2.82 
Weighted average discount rate   7.15%   7.15%