| Summary of right-of-use asset |
| Summary of right-of-use asset | |
| | | |
| | |
| | |
March 31, 2022 | |
| | |
Tuscaloosa Additional Lease | | |
Total | |
| Office lease | |
$ | 77,119 | | |
$ | 77,119 | |
| Less: accumulated amortization | |
| (4,034 | ) | |
| (4,034 | ) |
| Right-of-use asset, net | |
$ | 73,085 | | |
$ | 73,085 | |
|
| Summary of operating lease liability |
| Summary of operating lease liability | |
| | | |
| | | |
| | | |
| | |
| | |
March 31, 2022 | |
| | |
Tuscaloosa Lease | | |
Birmingham Lease | | |
Tuscaloosa Additional Lease | | |
Total | |
| Office lease | |
$ | 155,288 | | |
$ | 242,569 | | |
$ | 73,085 | | |
$ | 470,942 | |
| Less: current portion | |
| (59,761 | ) | |
| (50,622 | ) | |
| (12,936 | ) | |
| (123,319 | ) |
| Long term portion | |
$ | 95,527 | | |
$ | 191,947 | | |
$ | 60,149 | | |
$ | 347,623 | |
|
| Schedule of maturity of the lease liability |
| Schedule of maturity of the lease liability | |
| | | |
| | | |
| | | |
| | |
| | |
March 31, 2022 | |
| | |
Tuscaloosa Lease | | |
Birmingham Lease | | |
Tuscaloosa Additional Lease | | |
Total | |
| Fiscal year ending March 31, 2023 | |
| 72,000 | | |
| 72,000 | | |
| 19,500 | | |
| 163,500 | |
| Fiscal year ending March 31, 2024 | |
| 72,000 | | |
| 72,000 | | |
| 19,500 | | |
| 163,500 | |
| Fiscal year ending March 31, 2025 | |
| 30,000 | | |
| 72,000 | | |
| 19,500 | | |
| 121,500 | |
| Fiscal year ending March 31, 2026 | |
| – | | |
| 72,000 | | |
| 19,500 | | |
| 91,500 | |
| Fiscal year ending March 31, 2027 | |
| – | | |
| 6,000 | | |
| 13,000 | | |
| 19,000 | |
| Present value discount | |
| (18,712 | ) | |
| (51,431 | ) | |
| (17,915 | ) | |
| (88,058 | ) |
| Lease liability | |
$ | 155,288 | | |
$ | 242,569 | | |
$ | 73,085 | | |
$ | 470,942 | |
|