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LEASES (Tables)
 12 Months Ended
Dec. 31, 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 December 31, 2023:

 

      
Operating right-of-use assets  $594,897 
Operating lease liabilities - current  $603,180 
Operating lease liabilities - noncurrent  $73,849 
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 consolidated balance sheet as of December 31, 2023:

 

      
Fiscal year 2024  $628,813 
Fiscal year 2025   68,850 
Less: imputed interest   (20,634)
Present value of operating lease liabilities  $677,029 
SCHEDULE OF OTHER INFORMATION RELATED TO OPERATING LEASE LIABILITIES

Other information related to operating lease liabilities consisted of the following:

 

   Year Ended December 31, 
   2023   2022 
Cash paid for operating lease liabilities  $897,883   $773,952 
Weighted average remaining lease term in years   2.18    2.82 
Weighted average discount rate   7.17%   7.15%