XML 36 R27.htm IDEA: XBRL DOCUMENT

LEASES (Tables)

9 Months Ended

Sep. 30, 2023

Leases

SUMMARY OF RIGHT-OF-USE ASSET AND LEASE LIABILITY

The table below summarizes the right-of-use asset and lease liability for the nine months ended September 30, 2023 and the year ended December 31, 2022:

		September 30, 2023				December 31, 2022
Right of Use Assets
Balance, January 1		$	167,222			$	217,267
Right of use assets, beginning balance		$	167,222			$	217,267
Depreciation			(38,738	)			(50,045	)
Balance, end of period		$	128,484			$	167,222
Right of use assets, ending balance		$	128,484			$	167,222

Lease Liability
Balance, January 1		$	167,222			$	217,267
Lease liability, beginning balance		$	167,222			$	217,267
Lease interest expense			4,812				8,566
Payments			(43,550	)			(58,611	)
Balance, end of period		$	128,484			$	167,222
Lease liability, ending balance		$	128,484			$	167,222

Short-term portion		$	59,160			$	58,080
Long-term portion			69,324				109,142
Total		$	128,484			$	167,222

SCHEDULE OF UNDISCOUNTED RENT PAYMENTS

Undiscounted rent payments for the next four years are as follows:

SCHEDULE OF UNDISCOUNTED RENT PAYMENTS


2023		$	14,520
2024			59,520
2025			61,020
Total		$	135,060
Impact of discounting			(6,576	)
Lease liability, September 30, 2023		$	128,484