| SCHEDULE OF OPERATING LEASES |
SCHEDULE OF OPERATING LEASES
| | |
Lease 1 | | |
Lease 2 | |
| Initial Lease Term | |
| December 2017 to December 2021 | | |
| November 2018 to November 2023 | |
| Renewal Term | |
| January 2021 to December 2024 | | |
| November 2023 to November 2028 | |
| Initial Recognition of right-of-use assets at January 1, 2019 | |
$ | 534,140 | | |
$ | 313,301 | |
| Incremental Borrowing Rate | |
| 10 | % | |
| 10 | % |
|
SCHEDULE OF OPERATING LEASES
| | |
Lease 1 | | |
Lease 2 | |
| Initial Lease Term | |
| January 2021 to December 2021 | | |
| November 2018 to November 2023 | |
| Renewal Lease Term | |
| - | | |
| November 2023 to November 2028 | |
| New Initial Lease Term | |
| January 2022 to December 2026 | | |
| - | |
| New Renewal Lease Term | |
| January 2027 to December 2031 | | |
| - | |
| Initial Recognition of Right to use assets at January 1, 2019 | |
$ | 534,140 | | |
$ | 313,301 | |
| New Initial Recognition of Right to use Assets at December 31, 2021 | |
$ | 977,220 | | |
$ | - | |
| Incremental Borrowing Rate | |
| 10 | % | |
| 10 | % |
|
| SCHEDULE OF FUTURE MINIMUM PAYMENTS FOR OPERATING LEASE LIABILITIES |
SCHEDULE OF FUTURE MINIMUM PAYMENTS FOR OPERATING LEASE LIABILITIES
| Amounts due within twelve months of September 30, 2022 | |
| |
| 2022 | |
$ | 291,537 | |
| 2023 | |
| 300,286 | |
| 2024 | |
| 309,294 | |
| 2025 | |
| 318,573 | |
| 2026 | |
| 122,912 | |
| 2026 | |
| - | |
| Thereafter | |
| 63,055 | |
| Total minimum lease payments | |
| 1,405,657 | |
| Less: effect of discounting | |
| (291,713 | ) |
| Present value of future minimum lease payments | |
| 1,113,944 | |
| Less: current obligations under leases | |
| 188,558 | |
| Long-term lease obligations | |
$ | 925,386 | |
|
SCHEDULE OF FUTURE MINIMUM PAYMENTS FOR OPERATING LEASE LIABILITIES
| Amounts due within twelve months of December 31 | |
| |
| 2022 | |
$ | 294,932 | |
| 2023 | |
| 293,683 | |
| 2024 | |
| 302,494 | |
| 2025 | |
| 311,569 | |
| 2026 | |
| 320,916 | |
| Thereafter | |
| 105,531 | |
| Total minimum lease payments | |
| 1,629,125 | |
| Less: effect of discounting | |
| (380,599 | ) |
| Present value of future minimum lease payments | |
| 1,248,526 | |
| Less: current obligations under leases | |
| 178,561 | |
| Long-term lease obligations | |
$ | 1,069,965 | |
|