XML 24 R16.htm IDEA: XBRL DOCUMENT v3.23.3

LEASES

9 Months Ended

Sep. 30, 2023

Leases

LEASES

NOTE 9 — LEASES

With the adoption of ASC 842, operating lease agreements are required to be recognized on the balance sheet as ROU assets and corresponding lease liabilities.

On January 1, 2022, the Company exercised its right to lease an additional 400 square feet of office space and an increase of monthly rent of $500. In accordance with ASC 842 management accounted for this as a separate lease and, as a result, recorded an ROU asset and lease liability of $11,359.

When measuring lease liabilities for leases that were classified as operating leases, the Company discounted lease payments using its estimated incremental borrowing rate at January 1, 2022. The weighted average incremental borrowing rate applied was 9%.

Operating leases are included in the consolidated balance sheets as follows:

Schedule of operating leases
		Classification		September 30, 2023				December 31, 2022
Lease assets
Operating lease cost ROU assets		Assets		$	1,963			$	6,171
Total lease assets				$	1,963			$	6,171
Lease liabilities
Operating lease liabilities, current		Current liabilities		$	17,635			$	50,797
Operating lease liabilities, non-current		Liabilities			-				4,463
Total lease liabilities				$	17,635			$	55,260

The components of lease costs, which are included in income from operations in our unaudited condensed consolidated statements of operations and comprehensive loss, were as follows:

Schedule of lease cost
		Three Months Ended September 30,
		2023				2022
Leases costs
Operating lease costs		$	13,500			$	13,500
Total lease costs		$	13,500			$	13,500

		Nine Months Ended September 30,
		2023				2022
Leases costs
Operating lease costs		$	40,500			$	40,500
Total lease costs		$	40,500			$	40,500

Future minimum payments under non-cancellable leases for operating leases for the remaining terms of the leases following the nine months ended September 30, 2023:

Future minimum payments under non-cancelable leases for operating leases
Fiscal Year		Operating Leases
Remainder of 2023		$	13,467
2024			4,496
Total future minimum lease payments			17,963
Amount representing interest			(328	)
Present value of net future minimum lease payments		$	17,635

Additional information related to leases is presented as follows:

Schedule of additional information related to leases
		September 30, 2023				December 31, 2022
Leases
Weighted average remaining lease term			.25				1.00
Weighted average discount rate			9.9	%			9.9	%

X

- References

No definition available.

+ Details

Name:	NXL_DisclosureLeasesAbstract
Namespace Prefix:	NXL_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration