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LEASES

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

LEASES

NOTE 8 – LEASES

The Company has operating lease agreements with terms up to 2-3 years, including car and office space leases.

The Company’s weighted-average remaining lease term relating to its operating leases is 2.68 years, with a weighted-average discount rate of 10%. The discount rate was determined by referencing rates used by companies in the same industry.

The Company incurred $58,000 of lease expense for its operating leases for the nine months ended September 30, 2024 and 2023.

The following table presents information about the amount and timing of liabilities arising from the Company’s operating leases as of September 30, 2024:

 SCHEDULE OF LIABILITIES ARISING FROM OPERATING LEASES 

2024		$	14
2025			60
2026			58
Thereafter			10
Total undiscounted operating lease payments			142
Less: Imputed interest			16
Present value of operating lease liabilities		$	126

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- References

No definition available.

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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

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