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Lease Obligations
 3 Months Ended
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%.