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Lease
 12 Months Ended
Dec. 31, 2022
Disclosure Text Block [Abstract]  
LEASE

NOTE 15 – LEASES

 

The Company leases its corporate offices and assembly site under operating leases, with initial terms of 3 years and 5.58 years, respectively. Usually within four months prior to the expiration date of a lease, the Company is required to notify the lessor and has a priority to continue renting the lease property if a lessor intends to lease property. The lease itself does not have restrictions or covenants. Any damage, if made by the lessee, to the property and equipment within the property has to been fixed or reimbursed by the lessee. Supplemental cash flow information related to leases for the year ended December 31, 2022 is as follows:

 

Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows paid for operating leases  $337,235 
Right-of-use assets obtained in exchange for lease obligations:     
Operating leases   2,835,406 

 

Supplemental balance sheet information related to leases as of December 31, 2022 is as follows:

 

Operating leases:    
Operating lease right-of-use assets  $2,627,110 
      
Current portion of operating lease liabilities  $472,182 
Long-term operating lease liabilities   2,176,130 
Total operating lease liabilities  $2,648,312 

 

The following table summarizes the maturity of lease liabilities under operating leases as of December 31, 2022:

 

For the years ending December 31,  Operating
Leases		 
2023  $593,781 
2024   585,127 
2025   589,272 
2026   606,354 
Thereafter   624,034 
Total lease payments  $2,998,568