v3.23.3
LEASES (DISCONTINUED OPERATIONS) (Tables)
 6 Months Ended
Jun. 30, 2023
Leases  
SCHEDULE OF LEASE COST

The table below presents the lease costs for the three and six months ended June 30, 2023 and 2022:

 

   2023   2022   2023   2022 
   Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2023   2022   2023   2022 
                 
Operating lease cost  $141,064   $288,134   $306,250   $575,804 
                     
Finance lease cost:                    
                     
Amortization of right-of-use assets   -    39,706    -    84,174 
Interest on lease liabilities   -    6,785    -    14,097 
                     
Total lease cost  $141,064   $334,625   $306,250   $674,075 
SCHEDULE OF OTHER INFORMATION RELATED TO LEASES

The following table presents other information related to leases:

 

   2023   2022   2023   2022 
   Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2023   2022   2023   2022 
                 
Cash paid for amounts included in the measurement of lease liabilities:                    
                     
Operating cash flows used for operating leases  $217,500   $262,004   $463,424   $525,620 
Financing cash flows used for financing leases   -    45,499    -    95,160 
                     
Assets obtained in exchange for operating lease liabilities   -    -    -    - 
                     
Assets obtained in exchange for finance lease liabilities   -    -    -    - 
                     
Weighted average remaining lease term:                    
Operating leases   7.6 years    8.6 years     7.6 years    8.6 years 
Finance leases   2.9 years    3.9 years    2.9 years    3.9 years 
                     
Weighted average discount rate:                    
Operating leases   5.60%   5.60%   5.60%   5.60%
Finance leases   5.16%   5.16%   5.16%   5.16%
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS REQUIRED UNDER OPERATING AND FINANCING LEASE OBLIGATIONS

The future minimum lease payments required under operating and financing lease obligations as of June 30, 2023 having initial or remaining non-cancelable lease terms in excess of one year are summarized as follows:

 

   Operating Leases   Finance Leases   Total 
             
Remainder of 2023  $585,927   $139,080   $725,007 
2024   955,272    139,080    1,094,352 
2025   870,000    139,080    1,009,080 
2026   870,000    68,395    938,395 
2027   870,000    -    870,000 
Thereafter   2,682,500    -    2,682,500 
                
Total undiscounted lease liabilities   6,833,699    485,635    7,319,334 
Less: imputed interest   (1,215,246)   (42,108)   (1,257,354)
                
Net lease liabilities  $5,618,453   $443,527   $6,061,980