LEASES

12 Months Ended

Dec. 31, 2021

Disclosure Text Block [Abstract]

Lessee, Operating Leases [Text Block]

NOTE 3 – LEASES

Under FASB’s ASU 2016-02, “Leases,” which, together with its related clarifying ASUs, provided revised guidance for lease accounting and related disclosure requirements and established a right-to-use (ROU) model that requires lessees to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition. The ASU also requires disclosures to allow financial statement users to better understand the amount, timing and uncertainty of cash flows arising from leases. These disclosures include qualitative requirements, providing additional information about the amounts recorded in the financial statements.

The following table includes the ROU and operating lease liabilities as of December 31, 2021 and 2020.

Right of Use Asset	Balance December 31, 2021		Balance December 31, 2020
Operating Lease Right-Of-Use Assets	$	1,154,293	$	1,211,707

Operating Lease Liability	Balance December 31, 2021		Balance December 31, 2020
Short-Term Operating Lease Liability	$	283,167	$	243,218
Long-Term Operating Lease Liability		905,528		993,596
Total	$	1,188,695	$	1,236,814

Maturity analysis under these lease agreements are as follows:

Maturity Analysis
2022	$	347,778
2023		348,708
2024		236,948
2025		120,881
2026		71,023
Thereafter		309,800
Total		1,435,138
Less Imputed interest		(246,443)
Present Value of Operating Leases	$	1,188,695

We amortize our leases over the shorter of the term of the lease or the useful life of the asset. Lease expense for the years ended December 31, 2021 and 2020 was $353,295 and $521,846, respectively.