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COMMITMENTS AND CONTINGENCIES (Tables)
9 Months Ended
Sep. 30, 2024
COMMITMENTS AND CONTINGENCIES  
Schedule of lease costs related to Company's operating lease

Operating lease expense

$

120,099

Short-term lease expense

 

Total lease cost

$

120,099

Schedule of Lease position in Balance Sheet

Assets

Operating lease right-of-use assets

$

342,107

Total lease assets

$

342,107

Liabilities

Current liabilities:

Operating lease liability – current portion

$

42,513

Non-current liabilities:

Operating lease liability – net of current portion

281,437

Total lease liability

$

323,950

Schedule of Lease terms and discount rate

Weighted average remaining lease term (in years) – operating lease

5.08

Weighted average discount rate – operating lease

 

8.00%

Schedule of Future lease payment - Undiscounted Cash Flows

2024 (excluding the nine months ended September 30, 2024)

$

18,184

2025

66,674

2026

76,372

2027

80,190

2028

84,200

Thereafter

73,675

Total future minimum lease payments

399,295

Less effect of discounting

(75,345)

Present value of future minimum lease payments

$

323,950

Schedule of Cash Flows information

Non-cash operating lease expense (operating cash flow)

$

112,876

Change in operating lease liabilities (operating cash flow)

$

(108,420)