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LEASES | 3 Months Ended
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Dec. 31, 2023
Leases |
LEASES | NOTE 19 – 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 2.75 years at December 31, 2023, and 3 years at September 30, 2023. Lease liabilities were $2,155,559 with $728,875 classified as short-term at December 31, 2023, and $2,348,689 with $741,487, classified as short-term at September 30, 2023. The weighted average discount rate used to measure lease liabilities was approximately 5.6% at December 31, 2023, and September 30, 2023. 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. Cash used by operating leases were $193,130, and $132,963 for the three months ended December 31, 2023 and 2022. The Company has elected not to recognize lease assets and liabilities for leases with a term of 12 months or less. The Company’s corporate segment leases approximately 100 square feet of office space in Brooklyn, NY on a month-to-month lease at a rent of $600 per month. Short-term rent expense was $1,800 for the three months ended December 31, 2023. The Company’s security segment leases approximately 1,037 square feet of office space in Clovis, CA on a month-to-month lease at a rent of $5,487 per month. Short-term rent expense was $16,461 for the three months ended December 31, 2023. A reconciliation of undiscounted cash flows to operating lease liabilities recognized in the condensed consolidated balance sheet at December 31, 2023, is set forth below: SCHEDULE OF RECONCILIATION OF UNDISCOUNTED CASH FLOWS TO OPERATING LEASE LIABILITIES
Years ending September 30, |  | Operating Leases |
2024 |  |  | 624,469 |
2025 |  |  | 823,816 |
2026 |  |  | 621,892 |
2027 |  |  | 270,742 |
2028 & Thereafter |  |  | 51,415 |
Undiscounted lease payments |  |  | 2,392,334 |
Amount representing interest |  |  | (236,775 | )
Discounted lease payments |  | $ | 2,155,559 |
Lease costs for the three months ended December 31, 2023, and 2022 are set forth below: SCHEDULE OF LEASE COSTS
|  | 2023 |  |  | 2022 |
|  | For the three months ended |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Lease costs: |  |  |  |  |  |  |  |
Operating lease costs |  |  | 193,432 |  |  |  | 261,433 |
Short-term lease costs |  |  | 18,261 |  |  |  | - |
Total lease cost |  | $ | 211,693 |  |  | $ | 261,433 |

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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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