XML 29 R19.htm IDEA: XBRL DOCUMENT v3.22.2.2
Lease Obligations
 6 Months Ended
Jun. 30, 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:

 

   June 30,   December 31, 
Operating Leases  2022   2021 
Right-Of-Use Assets  $942,728   $1,094,778 
           
Lease Liability:          
Right-Of-Use Asset - Office Leases - Current   319,532    310,095 
Right-Of-Use Asset - Office Leases - Non-Current   623,196    784,683 
   $942,728   $1,094,778 

 

Rent expense for the six months ended June 30, 2022 and 2021 totaled $218,591 and $189,695, respectively.

 

The following is a schedule by years of future minimum lease payments for the twelve months ended June 30,:

 

2023  $347,444 
2024   330,805 
2025   264,153 
2026   - 
2027   - 
   $942,402 

 

As of June 30, 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%.