LEASES

6 Months Ended

Jun. 30, 2022

LEASES

LEASES

NOTE 6 – LEASES

Boston Solar was acquired on April 21, 2022, and has fixed rate non-cancelable operating lease agreements for office, warehouse, and parking real estate; vehicles; and tools. The monthly operating lease payments for real estate are from $4,372 to $18,466 and end September 2027. Vehicle leases range from $644 to $821 per month, and their end dates from December 2023 to September 2026. Tools lease payments are $1,312 per month and end March 2027. Total lease expense for the three months ended June 30, 2022 is $81,420. At April 21, 2022, as part of the acquisition, the Company recognized initial ROU Assets and Lease Liabilities related to Boston Solar of $1,400,278 and $(1,400,278), respectively.

Future minimum operating lease payments are as follows:

Year Ending December 31,
2022 (remainder)	$	162,840
2023		325,681
2024		313,044
2025		309,058
2026		304,241
Thereafter		209,474
Total		1,624,338
Less: interest		(240,930	)
Present value of lease liabilities	$	1,383,408
Less: Current portion		(257,972	)
Lease liability, net of current portion	$	1,125,436