Right-of-Use Assets and Liabilities

3 Months Ended

Mar. 31, 2022

Right-of-Use Assets and Liabilities

Right-of-Use Assets and Liabilities

Note 14 – Right-of-Use Assets and Liabilities

Future lease payments under operating leases as of March 31, 2022 were as follows:

2022	$	417,750
2023		546,916
2024		45,576
Total Future Lease Payments		1,010,242
Less: Imputed Interest		(41,973)
Total Lease Liability Balance	$	968,269

Operating lease costs under the operating leases totaled $162,365 and $124,215 for the three months ended March 31, 2022 and 2021, respectively.

As of March 31, 2022, the weighted average discount rate was 4.5% and the weighted average remaining lease term was 1.8 years.