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FINANCING OBLIGATION LIABILITY (Tables)
 12 Months Ended
Dec. 31, 2023
Financing Obligation Liability  
SCHEDULE OF FINANCING OBLIGATION LIABILITY

The financing obligation liability is summarized below:

 

   2023   2022 
   December 31, 
   2023   2022 
Financing obligation for sale-leaseback transaction  $4,038,021   $4,112,658 
Current principal portion of finance obligation   (83,648)   (74,636)
Non-current portion of financing obligation  $3,954,373   $4,038,022 
SCHEDULE OF AGGREGATE FUTURE LEASE PAYMENTS FOR THE FINANCE OBLIGATION

The following is the aggregate future lease payments that include principal and interest for the financing obligation liability as of December 31, 2023:

 

For the year ended December 31,    
2024  $325,947 
2025   330,836 
2026   335,799 
2027   340,836 
2028   345,948 
Thereafter   2,553,574 
Total undiscounted lease payments   4,232,940 
Residual value of the property (included in the future payments)   2,188,711 
Less: effects of discounting   (2,383,630)
Present value of lease payments  $4,038,021