v3.25.2
LEASES (Tables)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
LEASES    
SCHEDULE OF LEASE EXPENSE

 

 

Year Ended

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

Lease cost:

 

 

 

 

 

 

Operating lease cost

 

$60,444

 

 

$362,664

 

Short-term lease cost

 

 

431,474

 

 

 

72,319

 

Sublease income

 

 

(1,500)

 

 

(129,300)

Total lease cost

 

$490,418

 

 

$305,683

 

 

 

Year Ended

 

 

 

December 31

 

 

 

2023

 

 

2022

 

Lease cost:

 

 

 

 

 

 

Operating lease cost

 

$362,664

 

 

$362,664

 

 

 

$362,664

 

 

$362,664

 

SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES

 

 

Year Ended

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$335,607

 

 

$420,193

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases (year)

 

 

-

 

 

 

0.16

 

Weighted-average discount rate — operating leases

 

 

-

 

 

 

3.35%

 

 

Year Ended

 

 

 

December 31

 

 

 

2023

 

 

2022

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$372,473

 

 

$350,608

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases (year)

 

 

0.16

 

 

 

1.16

 

Weighted-average discount rate — operating leases

 

 

3.35%

 

 

3.35%
SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Operating lease right-of-use asset

 

$-

 

 

$60,357

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities:

 

 

 

 

 

 

 

 

Current portion

 

$-

 

 

$62,323

 

Non-current portion

 

 

-

 

 

 

-

 

 

 

$-

 

 

$62,323

 

 

 

December 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Operating lease right-of-use asset

 

$60,357

 

 

$415,285

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities:

 

 

 

 

 

 

 

 

Current portion

 

$62,323

 

 

$364,738

 

Non-current portion

 

 

-

 

 

 

62,323

 

 

 

$62,323

 

 

$427,061

 

SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS  

Future minimum lease payments as of December 31, 2023:

 

 

 

Year ended December31,

 

 

 

2024

 

$62,411

 

Thereafter

 

 

-

 

 

 

$62,411

 

Less imputed interest

 

 

(88)

Operating lease liabilities

 

$62,323