LEASES

12 Months Ended

Dec. 31, 2021

Leases

LEASES

NOTE 6 – LEASES

In December 16, 2020 the Company signed a lease agreement effective as from January 1, 2021, for office space in Herzliya, Israel for a period of 4 years with monthly payments of approximately $5,500 (NIS 17,000) and an option to extend the agreement for an additional 1 year with monthly payments of approximately $5,900 (NIS 18,275). As of December 31, 2021, the balance of the lease liability amounted to $218,983 and right-of-use asset amounted to $201,518.

A. The components of operating lease cost for the year ended December 31, 2021 and 2020 were as follows:

	December 31,
	2021		2020
Operating lease costs		63,134		29,173
Short-term lease cost		6,709		-
Total operating lease cost		69,843		29,173

WORLD HEALTH ENERGY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars except share and per share data)

NOTE 6 – LEASES (continue)

B. Supplemental cash flow information related to operating leases was as follows:

	December 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows from operating leases		63,134		29,173
Right-of-use assets obtained in exchange for lease obligations (non-cash):
Operating leases		242,906		-

C. Supplemental balance sheet information related to operating leases was as follows:

	December 31,
	2021			2020
Operating leases:
Operating leases right-of-use asset		201,518			-
Current operating lease liabilities		45,756			-
Non-current operating lease liabilities		173,227			-
Total operating lease liabilities		218,983			-
Weighted average remaining lease term (years)		4			-
Weighted average discount rate		10	%		-

D. Future minimum lease payments under non-cancellable leases as of December 31, 2021 were as follows:

	2021
2022		65,595
2023		65,595
2024		65,595
2025		70,514
Total operating lease payments		267,299
Less: imputed interest		48,316
Present value of lease liabilities		218,983

WORLD HEALTH ENERGY HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(U.S. dollars except share and per share data)