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Operating Leases
6 Months Ended
Jun. 30, 2022
Operating Leases [Abstract]  
OPERATING LEASES

NOTE 12 – OPERATING LEASES

 

Global Stem Cell Group, Inc. entered into the Cancun lease with HELLIMEX, S.A. DE CV beginning January 16 2022 and ending on January 15, 2024. The property is located in the Tulum Trade Center, consisting of 1,647 square feet with a monthly rent of $2,714 and security deposit of $5,588. In January 2022, the Company began the buildout of the clinic and order equipment. The Cancun facility is to be inaugurated in May 2022 is accredited both by the Mexican General Health Council and Cofepris (Mexican FDA).

 

The following table summarizes the Company’s undiscounted cash payment obligations for its non-cancelable lease liabilities through the end of the expected term of the lease:

 

2022  $24,427 
2023   27,140 
2024   
 
2025   
 
2026   
 
Total undiscounted cash payments   51,567 
Less interest   (2,855)
Present value of payments  $48,712