OPERATING LEASE LIABILITY

3 Months Ended

Jan. 31, 2022

Operating Lease Liability

OPERATING LEASE LIABILITY

NOTE 12. OPERATING LEASE LIABILITY

As disclosed in Note 11, the Company entered into a verbal lease for office space prior to the quarter ended January 31, 2020 that is classified as a right of use asset and lease liability.

As of January 31, 2022, the lease liability associated with future payments due under the verbal lease is as follows:

Total future minimum lease payments	$	150,496
Principal payments made as of the period ended January 31, 2022		(119,565	)
Total operating lease liability as of January 31, 2022		30,931
Less current portion due within one year		30,931
Long-term operating lease liability	$	-0-

Total maturities of lease liability as of January 31, 2022 are as follows:

	Total future minimum lease payments		Present value discount		Operating lease liability
2022	$	31,500	$	569	$	30,931