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Lease Obligations | 3 Months Ended
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Mar. 31, 2022
Lease Obligation [Abstract] |
LEASE OBLIGATIONS |
| M. | LEASE OBLIGATIONS:
The following is a summary of the Company’s right of use assets and lease liabilities:
|  | March 31, |  |  | December 31, |
Operating Leases |  | 2022 |  |  | 2021 |
Right-Of-Use Assets |  | $ | 1,019,412 |  |  | $ | 1,094,778 |
Lease Liability: |  |  |  |  |  |  |  |
Right-Of-Use Asset - Office Leases - Current |  |  | 314,793 |  |  |  | 310,095 |
Right-Of-Use Asset - Office Leases - Non-Current |  |  | 704,619 |  |  |  | 784,683 |
|  | $ | 1,019,412 |  |  | $ | 1,094,778 |
Rent expense for the three months ended March 31, 2022 and 2021 totaled $105,502 and $101,531, respectively. The following is a schedule by years of future minimum lease payments:
2022 |  | $ | 345,474 |
2023 |  |  | 338,028 |
2024 |  |  | 324,462 |
2025 |  |  | 135,740 |
2026 |  |  | - |
|  | $ | 1,143,704 |
As of March 31, 2022, the Company’s operating leases had a weighted average remaining lease term of 2.5 years and a weighted average discount rate of 2%.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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