LEASES

12 Months Ended

Dec. 31, 2023

Leases

LEASES

20. LEASES

On November 1, 2023, the Company terminated its operating lease for office space. This resulted in a loss of $30,322 which is included in other loss. On the same date, the Company entered into a new short-term lease and has elected not to apply the recognition requirements under ASC 842 “Leases”. The Company has no finance leases.

The components of lease expenses were as follows:

	December 31, 2023		December 31, 2022
Operating lease cost	$	242,632	$	295,601
Short-term lease cost		47,385		23,361
Total lease expenses	$	290,017	$	318,962