Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2023
Leases  
Schedule of Operating lease expense

The operating lease expense were as follows:

 Schedule of Operating lease expense

    2023     2022     2023     2022  
    Three Months Ended June 30,     Six Months Ended June 30,  
    2023     2022     2023     2022  
Operating lease cost   $ 88,668     $ 86,352     $ 175,055     $ 171,351  
Summary of Other Supplemental Information

Supplemental balance sheet information related to operating leases was as follows:

 

    June 30,     December 31,  
    2023     2022  
Operating lease right-of-use assets at inception   $ 1,276,515     $ 1,119,675  
Accumulated amortization     1,025,314       869,738  
Total operating lease right-of-use assets, net   $ 251,201     $ 249,937  
                 
Operating lease liabilities - current   $ 259,338     $ 199,158  
Operating lease liabilities - non-current     -       63,310  
Total operating lease liabilities   $ 259,338     $ 262,468  
                 
Weighted-average remaining lease term — operating leases (year)     0.92       1.20  
Weighted-average discount rate — operating leases     4.73 %     4.86 %
Summary of Future Minimum Lease Payments Under Operating Leases

Future minimum lease payments under operating leases that have initial noncancelable lease terms in excess of one year at June 30, 2023 were as follows:

 

Year Ending December 31,      
2023 (excluding the six months ended June 30, 2023)   $ 144,253  
2024     120,211  
Thereafter     -  
Total undiscounted lease payments     264,464  
Less: Imputed interest     (5,126 )
Operating lease liabilities     259,338