Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.1
Leases (Tables)
3 Months Ended
Mar. 31, 2023
Leases  
Schedule of Other Information Related to Leases

 

    For the Three
Months Ended
March 31, 2023
    For the Twelve
Months Ended
December 31, 2022
 
Weighted Average Remaining Lease Term In Years                
Operating leases     1.46       1.72  
                 
Weighted Average Discount Rate                
Operating leases     5.70 %     5.78 %
Schedule of Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities are as follows:

 

Year ended December 31:        
2023     164,535  
2024     156,605  
2025     -  
Total   $ 321,140  
Less: effect of discounting     (14,491 )
Present value of lease liabilities   $ 306,649  

Schedule of Cost Component of Operating Leases

The cost component of operating leases is as follows:

 

   

For the Three Months

Ended March 31, 2023

   

For the Three Months

Ended March 31, 2022

 
Operating lease cost   $ 57,755     $ 57,129  
Short-term lease cost     -       1,634  
Total lease cost   $ 57,755     $ 58,763  
Schedule of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases is as follows:

 

   

For the Three Months

Ended March 31, 2023

   

For the Three Months

Ended March 31, 2022

 
Cash paid for amounts included in the measurement of lease liabilities:                
Operating cash flows from operating leases   $ (59,274 )   $ (58,535 )