LEASE LIABILITIES (Tables)
|
3 Months Ended |
Dec. 31, 2022 |
|---|
| Lease Liabilities |
|
| SCHEDULE OF FINANCIAL LEASE RIGHT-OF-USE ASSETS |
Financing
lease right-of-use assets (“Financing ROU”) is summarized below:
SCHEDULE
OF FINANCIAL LEASE RIGHT-OF-USE ASSETS
| | |
December
31, 2022 | | |
September
30,
2022 | |
| | |
| | |
| |
| Financing
ROU assets | |
$ | 231,841 | | |
$ | 231,841 | |
| Less
accumulated depreciation | |
| (178,479 | ) | |
| (166,887 | ) |
| Balance
of Financing ROU assets | |
$ | 53,362 | | |
$ | 64,954 | |
|
| SCHEDULE OF FINANCING LEASE LIABILITY RELATED TO FINANCING RIGHT-OF-USE ASSETS |
Financing
lease liability related to the Financing ROU assets is summarized below:
SCHEDULE OF FINANCING LEASE LIABILITY RELATED TO FINANCING RIGHT-OF-USE ASSETS
| | |
December
31, 2022 | | |
September
30,
2022 | |
| | |
| | |
| |
| Financing
lease payables for equipment | |
$ | 231,841 | | |
$ | 231,841 | |
| Total
financing lease payables | |
| 231,841 | | |
| 231,841 | |
| Payments
of financing lease liabilities | |
| (156,335 | ) | |
| (143,456 | ) |
| Total | |
| 75,506 | | |
| 88,385 | |
| Less:
short term portion | |
| (52,037 | ) | |
| (53,995 | ) |
| Long
term portion | |
$ | 23,469 | | |
$ | 34,390 | |
|
| SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER FINANCING LEASE |
Future
minimum lease payments under the financing lease agreements on December 31, 2022 are as follows:
SCHEDULE
OF FUTURE MINIMUM LEASE PAYMENTS UNDER FINANCING LEASE
| Years
ending December 31, | |
Amount | |
| | |
| |
| 2023 | |
$ | 57,631 | |
| 2024 | |
| 24,403 | |
| Total
minimum financing lease payments | |
| 82,034 | |
| Less:
discount to fair value | |
| (6,528 | ) |
| Total
financing lease payable on December 31, 2022 | |
$ | 75,506 | |
|
| SCHEDULE OF OPERATING RIGHT-OF-USE ASSET |
Operating
Right-of-use asset (“ROU”) is summarized below:
SCHEDULE OF OPERATING RIGHT-OF-USE ASSET
| | |
December
31, 2022 | | |
September
30, 2022 | |
| | |
| | |
| |
| Operating
office lease | |
$ | 1,212,708 | | |
$ | 1,212,708 | |
| Less
accumulated reduction | |
| (70,289 | ) | |
| (57,847 | ) |
| Balance
of Operating ROU asset | |
$ | 1,142,419 | | |
$ | 1,154,861 | |
|
| SCHEDULE OF OPERATING LEASE LIABILITY RELATED TO RIGHT-OF-USE ASSETS |
Operating
lease liability related to the ROU asset is summarized below:
SCHEDULE OF OPERATING LEASE LIABILITY RELATED TO RIGHT-OF-USE ASSETS
| | |
December
31, 2022 | | |
September
30,
2022 | |
| | |
| | |
| |
| Operating
office lease | |
$ | 1,212,708 | | |
$ | 1,212,708 | |
| Total
operating lease liability | |
| 1,212,708 | | |
| 1,212,708 | |
| Reduction
of operating lease liability | |
| (35,324 | ) | |
| (29,396 | ) |
| Total | |
| 1,177,384 | | |
| 1,183,312 | |
| Less:
short term portion | |
| (26,960 | ) | |
| (25,551 | ) |
| Long
term portion | |
$ | 1,150,424 | | |
$ | 1,157,761 | |
|
| SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS OF OPERATING LEASE |
Future
base lease payments under the non-cancellable operating lease on December 31, 2022 are as follows:
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS OF OPERATING LEASE
| Years
ending December 31, | |
Amount | |
| | |
| |
| 2023 | |
$ | 120,199 | |
| 2024 | |
| 123,806 | |
| 2025 | |
| 127,520 | |
| 2026 | |
| 131,871 | |
| 2027
and thereafter | |
| 1,515,340 | |
| Total
minimum non-cancellable operating lease payments | |
| 2,018,736 | |
| Less:
discount to fair value | |
| (841,352 | ) |
| Total
operating lease liability on December 31, 2022 | |
$ | 1,177,384 | |
|