Right-of-Use Assets and Liabilities

9 Months Ended

Sep. 30, 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 September 30, 2022 were as follows:

2022	$	137,812
2023		546,916
2024		45,576
Total Future Lease Payments		730,304
Less: Imputed Interest		(22,730)
Total Lease Liability Balance	$	707,574

Operating lease costs under the operating leases totaled $160,767 and $172,014 for the three months ended September 30, 2022 and 2021, respectively. Operating lease costs under the operating leases totaled $486,409 and $460,434 for the nine months ended September 30, 2022 and 2021, respectively.

As of September 30, 2022, the weighted average discount rate was 4.5% and the weighted average remaining lease term was 1.3 years.