OPERATING LEASE (Tables)

6 Months Ended

Jun. 30, 2021

Operating Lease

SCHEDULE OF LEASE COST AND OTHER INFORMATION RELATED TO OPERATING LEASES

For six months ended June 30, 2021, the Company has incurred rent expenses solely for the office premises on a monthly basis as follows:

	Six months Ended June 30, 2021
Lease Cost
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	58,483
Other Information
Cash paid for amounts included in the measurement of lease liabilities for the first quarter 2021	$	59,014
Weighted average remaining lease term – operating leases (in years)		2.42
Average discount rate – operating leases		4.35	%

	Six months Ended June 30, 2020
Lease Cost
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	27,171
Other Information
Cash paid for amounts included in the measurement of lease liabilities for the first quarter 2020	$	30,276
Weighted average remaining lease term – operating leases (in years)		0.42
Average discount rate – operating leases		4.35	%

 

SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES

The supplemental balance sheet information related to leases for the period is as follows:

Operating leases
Right-of-use assets	$	432,839
Total operating lease assets	$	432,839
Short-term operating lease liabilities	$	85,776
Long-term operating lease liabilities	$	350,439
Total operating lease liabilities	$	436,215

Operating leases
Right-of-use assets	$	22,435
Total operating lease assets	$	22,435
Short-term operating lease liabilities	$	24,958
Long-term operating lease liabilities	$	-
Total operating lease liabilities	$	24,958

 

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Maturities of the Company’s lease liabilities are as follows:

Period ending June 30,	Operating Lease
2021 (remaining 6 months)		94,083
2022		193,541
2023		170,424
Total lease payments		458,048
Less: Imputed interest/present value discount		(21,833	)
Present value of lease liabilities		436,215

Period ending June 30,	Operating Lease
2020 (remaining 5 months)		25,230
2021		-
Total lease payments		25,230
Less: Imputed interest/present value discount		(272	)
Present value of lease liabilities		24,958