|
NOTE
11 – LEASES
The
following table presents net lease cost and other supplemental lease information:
SCHEDULE
OF NET LEASE COST AND OTHER SUPPLEMENTAL LEASE
| |
|
Six
Months Ended |
|
| |
|
June 30, 2023 |
|
| Lease
cost |
|
|
|
|
| Operating
lease cost (cost resulting from lease payments) |
|
$ |
47,087 |
|
| Short
term lease cost |
|
|
- |
|
| Sublease
income |
|
|
(47,087 |
) |
| Net
lease cost |
|
$ |
- |
|
| |
|
|
|
|
| Operating
lease – operating cash flows (fixed payments) |
|
$ |
47,087 |
|
| Operating
lease – operating cash flows (liability reduction) |
|
$ |
42,438 |
|
| Current
leases – right of use assets |
|
$ |
21,594 |
|
| Current
liabilities – operating lease liabilities |
|
$ |
19,167 |
|
| Non-current
liabilities – operating lease liabilities |
|
$ |
- |
|
| |
|
|
|
|
| Operating
lease ROU assets |
|
$ |
21,594 |
|
| Weighted-average
remaining lease term (in years) |
|
|
0.25 |
|
| Weighted-average
discount rate |
|
|
2.1 |
% |
The
Company did not have any leases for the six months ended June 30, 2022.
Future
minimum payments under non-cancelable leases for operating leases for the remaining terms of the leases following the three months ended
June 30, 2023:
SCHEDULE
OF NON-CANCELABLE LEASES
| Fiscal
Year |
|
Operating
Leases |
|
| Remainder
of 2023 |
|
|
19,777 |
|
| Total
future minimum lease payments |
|
|
19,777 |
|
| Less: Imputed Interest |
|
|
(610 |
) |
| Present
value of net future minimum lease payments |
|
$ |
19,167 |
|
|