LEASES

12 Months Ended

Dec. 31, 2024

Leases

LEASES

NOTE 13 – LEASES

The following was included in our balance sheet as of December 31, 2024 and 2023:

	December 31,
Operating leases	2024		2023
Assets
ROU operating lease assets	$	449,556	$	496,685
Liabilities
Current portion of operating lease	$	80,400	$	80,400
Operating lease, net of current portion		447,009		496,335
Total operating lease liabilities	$	527,409	$	576,735

The weighted average remaining lease term and weighted average discount rate at December 31, 2024 and 2023 were as follows:

	December 31,
Operating leases	2024		2023
Weighted average remaining lease term (years)		7.75		7.25
Weighted average discount rate		6.00%		6.00%

Operating Leases

On June 28, 2023, the Company recognized a gain on deconsolidation of $1,642,146 related to Optilan (UK) and its subsidiaries leases.

The following table reconciles future minimum operating lease payments to the discounted lease liability as of December 31, 2024:

Years Ended December 31,
2024		82,597
2025		84,726
2026		86,853
2027 and later		482,474
Total lease payments		736,650
Less imputed interest		(209,241	)
Total lease obligations		527,409
Less current lease obligations		(80,400	)
Long-term lease obligations	$	447,009