OPERATING LEASE

12 Months Ended

Dec. 31, 2023

OPERATING LEASE [Abstract]

OPERATING LEASE

NOTE 8 - OPERATING LEASE

The following table reconciles the undiscounted cash flows for the Company’s operating lease at December 31, 2023 to the operating lease liability recorded on the balance sheet:

2024	$	287,356
2025		295,975
2026		304,855
2027		314,000
2028		323,420
Thereafter		530,803
Total future undiscounted lease payments		2,056,409
Less: Imputed interest		(290,235	)
Present value of lease liability	$	1,766,174
Current portion of operating lease liability	$	211,488
Non-current portion of operating lease liability		1,554,686
	$	1,766,174

Total rent expense for the years ended December 31, 2023 and 2022 was $289,024 and $289,024, respectively. The weighted average incremental borrowing rate and weighted average remaining term for the operating leases was 4.54% and 6.5 years, respectively.