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LEASES | 6 Months Ended
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Mar. 31, 2023
Leases |
LEASES | NOTE 14 – LEASES The Company is party to contracts where we lease property from others under contracts classified as operating leases. The Company primarily leases office and operating facilities, vehicles, and office equipment. The weighted average remaining term of our operating leases was approximately 3.3 years at March 31, 2023 and 3.0 years at March 31, 2022. Lease liabilities were $2,297,293 with $732,680 classified as short-term at March 31, 2023, and $2,576,963 with $754,495, classified as short-term at September 30, 2022. The weighted average discount rate used to measure lease liabilities was approximately 5.66% at March 31, 2023 and March 31, 2022. The Company used the rate implicit in the lease, where known, or its incremental borrowing rate as the rate used to discount the future lease payments. The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less. A reconciliation of undiscounted cash flows to operating lease liabilities recognized in the condensed consolidated balance sheet at March 31, 2023, is set forth below: SCHEDULE OF RECONCILIATION OF UNDISCOUNTED CASH FLOWS TO OPERATING LEASE LIABILITIES
Years ending September 30, |  | Operating Leases |
2023 |  |  | 431,540 |
2024 |  |  | 755,686 |
2025 |  |  | 733,327 |
2026 |  |  | 539,279 |
2027 & Thereafter |  |  | 205,358 |
Undiscounted lease payments |  |  | 2,665,190 |
Amount representing interest |  |  | (367,897 | )
Discounted lease payments |  | $ | 2,297,293 |
Lease costs for the three and six months ended March 31, 2023 and 2022 are set forth below.: SCHEDULE OF LEASE COSTS
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | For the three months ended |  |  | For the six months ended |
|  | March 31, |  |  | March 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Lease costs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance lease costs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Operating lease costs |  |  | 223,213 |  |  |  | 130,511 |  |  |  | 484,646 |  |  |  | 369,363 |
Total lease cost |  | $ | 223,213 |  |  | $ | 130,511 |  |  | $ | 484,646 |  |  | $ | 369,363 |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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