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LONG TERM DEBT (Tables) | 9 Months Ended
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Sep. 30, 2021
LONG TERM DEBT |
Summary of lease expense |
The components of lease expense were as follows: |  |  |  |  |  |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2021 |  |  | September 30, 2 021 |
Operating lease cost |  | $ | 43,133 |  |  | $ | 129,399 |
Short term lease cost |  |  | - |  |  |  | - |
Total net lease cost |  | $ | 43,133 |  |  | $ | 129,399 |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2020 |  |  | September 30, 2020 |
Operating lease cost |  | $ | 43,133 |  |  | $ | 129.399 |
Short term lease cost |  |  | - |  |  |  | - |
Total net lease cost |  | $ | 43,133 |  |  | $ | 129,399 |
Schedule of measurement of lease liabilities |
|  | Nine Months Ended |
|  | September 30, 2021 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating lease payments |  |  | 135,900 |
Weighted average remaining lease term (in years): |  |  | 0.17 |
Summary of supplemental cash flow information |
Long Term Debt |  | September 30, 2021 |  |  | December 30, 2020 |
PPP Loan |  |  | 397,500 |  |  |  | 198,750 |
Operating lease payable |  |  | 14,377 |  |  |  | 225,054 |
Notes Payable – ICT (related party) |  |  | 675,199 |  |  |  | 926,768 |
Total Debt |  |  | 1,087,076 |  |  |  | 1,350,572 |
Less: Current Portion (operating lease payable) |  |  | (14,377 | ) |  |  | (181,199 | )
Total Long-Term Debt |  |  | 1,072,699 |  |  |  | 1,169,373 |

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- Definition Tabular disclosure of rental expense from operating leases for each period for which an income statement is presented with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123406913&loc=d3e41499-112717 + Details
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