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LEASES: | 12 Months Ended
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Oct. 31, 2023
Leases |
LEASES: | NOTE 9 - LEASES: The following summarizes the Company’s operating leases: SCHEDULE OF OPERATING LEASES
|  | 2023 |  |  | 2022 |
Right-of-use operating lease assets |  | $ | 2,696,159 |  |  | $ | 2,871,773 |
Current lease liability |  |  | 255,625 |  |  |  | 220,734 |
Non-current lease liability |  |  | 2,974,579 |  |  |  | 3,136,006 |
Total lease liability |  | $ | 3,230,204 |  |  | $ | 3,356,740 |
The amortization of the right-of-use asset for the years ended October 31, 2023 and 2022 was $322,030 and $674,013, respectively.
Weighted average remaining lease term |  |  | 10.0 |
Weighted average discount rate |  |  | 4.9 | %
COFFEE HOLDING CO., INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS OCTOBER 31, 2023 AND 2022 NOTE 9 – LEASES (cont’d): Maturities of lease liabilities by year for our operating leases are as follows: SCHEDULE OF MATURITY LEASE LIABILITY
2024 |  | $ | 770,429 |
2025 |  |  | 393,668 |
2026 |  |  | 376,683 |
2027 |  |  | 367,788 |
2028 |  |  | 305,648 |
Thereafter |  |  | 2,027,652 |
Total lease payments |  | $ | 4,241,868 |
Less: imputed interest |  |  | (1,011,664 | )
Present value of operating lease liabilities |  | $ | 3,230,204 |
The aggregate cash payments under these leasing agreements was $429,027 and $426,271 for the years ended October 31, 2023 and 2022, respectively. In December 2022, the Company extended its lease at its subsidiary Sonofresco in Washington through December 2023. As a result, on the date of the modification the Company increased its right-of-use asset and lease liability by $40,797 as of January 31, 2023. In March 2023, the Company extended its lease at its subsidiary Organics Products Trading Company in Washington through March 2026. As a result, on the date of the modification the Company increased its right-of-use asset and lease liability by $105,619 as of April 30, 2023

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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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