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LEASES (Tables)
6 Months Ended
Jun. 30, 2022
LEASES  
Operating Lease

 

June 30, 2022

(Unaudited)

 

 

December 31, 2021

 

Operating leases:

Assets:

 

 

 

 

 

 

Operating lease right-of-use asset

 

$556,937

 

 

$583,271

 

Liabilities:

 

 

 

 

 

 

 

 

Current Portion of Long-Term Operating Lease

 

$97,385

 

 

$91,775

 

Long-Term Operating Lease, Net of Current Portion

 

 

811,291

 

 

 

861,415

 

Total

 

$908,676

 

 

$953,190

 

Lease Expense

 

 

For the Three Months Ended June 30, 2022

 (Unaudited)

 

 

For the Three Months Ended June 30, 2021

(Unaudited)

 

Operating lease expense

 

$39,329

 

 

$39,329

 

 

 

For the Six Months Ended June 30, 2022

 (Unaudited)

 

 

For the Six Months Ended June 30, 2021

(Unaudited)

 

Operating lease expense

 

$78,657

 

 

$78,657

 

Other Information Related To Leases

 

 

June 30, 2022

(Unaudited)

 

 

December 31, 2021

 

Weighted-average remaining lease term:

 

 

 

 

 

 

Operating leases

 

 6.50 years

 

 

 7.00 years

 

 

 

 

 

 

 

 

Discount rate:

 

 

 

 

 

 

Operating leases

 

 

7.00%

 

 

7.00%
Supplemental Cash Flow Information Related To Leases

 

 

For the Three Months Ended June 30, 2022

 (Unaudited)

 

 

For the Three Months Ended June 30, 2021

(Unaudited)

 

Cash paid for amounts included in the measurement of lease liabilities:

 

$39,191

 

 

$38,049

 

 

 

For the Six Months Ended June 30, 2022

 (Unaudited)

 

 

For the Six Months Ended June 30, 2021

(Unaudited)

 

Cash paid for amounts included in the measurement of lease liabilities:

 

$77,240

 

 

$74,990

 

Maturities Of Lease Payments

Year Ended:

 

Operating Lease

 

July 1 – December 31, 2022

 

$78,381

 

December 31, 2023

 

 

160,290

 

December 31, 2024

 

 

165,098

 

December 31, 2025

 

 

170,051

 

December 31, 2026

 

 

175,153

 

Thereafter

 

 

399,978

 

Total minimum lease payments

 

 

1,148,952

 

Less: Interest

 

 

240,276

 

Present value of lease obligations

 

 

908,676

 

Less: Current portion

 

 

97,385

 

Long-term portion of lease obligations

 

$811,291