Quarterly report pursuant to Section 13 or 15(d)

Right-of-Use Assets and Liabilities

v3.22.2
Right-of-Use Assets and Liabilities
6 Months Ended
Jun. 30, 2022
Right-of-Use Assets and Liabilities  
Right-of-Use Assets and Liabilities

Note 14 – Right-of-Use Assets and Liabilities

Future lease payments under operating leases as of June 30, 2022 were as follows:

2022

$

277,067

2023

 

546,916

2024

 

45,576

Total Future Lease Payments

 

869,559

Less: Imputed Interest

 

(31,639)

Total Lease Liability Balance

$

837,920

Operating lease costs under the operating leases totaled $163,277 and $164,205 for the three months ended June 30, 2022 and 2021, respectively. Operating lease costs under the operating leases totaled $325,642 and $288,420 for the six months ended June 30, 2022 and 2021, respectively.

As of June 30, 2022, the weighted average discount rate was 4.5% and the weighted average remaining lease term was 1.6 years.