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LEASES (Tables)
9 Months Ended
Sep. 30, 2024
LEASES  
Schedule of operating Leases

Operating leases:

 

September 30,

2024

(Unaudited)

 

 

December 31,

2023

 

 

Assets:

 

 

 

 

 

 

Operating lease right-of-use asset

 

$417,190

 

 

$467,935

 

Liabilities:

 

 

 

 

 

 

 

 

Current Portion of Long-Term Operating Lease

 

$125,666

 

 

$115,658

 

Long-Term Operating Lease, Net of Current Portion

 

 

546,844

 

 

 

642,527

 

Total Right of Use Liability

 

$672,510

 

 

$785,185

 

Schedule of components of lease Expenses

 

 

For the Three Months Ended September 30, 2024

(Unaudited)

 

 

For the Three Months Ended September 30, 2023

(Unaudited)

 

 

 

 

 

 

 

 

Operating lease expense

 

$39,329

 

 

$39,329

 

 

 

 

For the Nine Months Ended September 30, 2024

 

 

For the Nine Months Ended September 30, 2023

 

 

 

 (Unaudited)

 

 

 (Unaudited)

 

 

 

 

 

 

 

 

Operating lease expense

 

$117,986

 

 

$117,986

 

Schedule of Other Information Related To Leases

 

 

September 30,

2024

(Unaudited)

 

 

December 31,

2023

 

 

Weighted-average remaining lease term:

 

 

 

 

 

 

Operating leases

 

4.25 years

 

 

5.00 years

 

 

 

 

 

 

 

 

Discount rate:

 

 

 

 

 

 

Operating leases

 

 

7.00%

 

 

7.00%
Supplemental Cash Flow Information Related To Leases

 

 

For the Three Months Ended September 30, 2024

 (Unaudited)

 

 

For the Three Months Ended September 30, 2023

 (Unaudited)

 

Cash paid for amounts included in the measurement of lease liabilities:

 

$41,577

 

 

$40,366

 

   

 

 

For the Nine Months Ended September 30, 2024

 

 

For the Nine Months Ended September 30, 2023

 

 

 

(Unaudited)

 

 

 Unaudited)

 

Cash paid for amounts included in the measurement of lease liabilities:

 

$123,521

 

 

$119,923

 

Schedule of maturities of operating lease payments

Year Ended:

 

Operating Lease

 

October 1 – December 31, 2024

 

$41,577

 

December 31, 2025

 

 

170,051

 

December 31, 2026

 

 

175,153

 

December 31, 2027

 

 

180,408

 

December 31, 2028

 

 

185,819

 

Thereafter

 

 

33,751

 

Total minimum lease payments

 

 

786,759

 

Less: Interest

 

 

114,249

 

Imputed value of lease obligations

 

 

672,510

 

Less: Current portion

 

 

125,666

 

Long-term portion of lease obligations

 

$546,844