NOTE 5—LEASES The following was included in our condensed consolidated
balance sheet at March 31, 2023 and December 31, 2022:
| |
|
March 31,
2023 |
|
|
December 31,
2022 |
|
| Operating lease right-of-use assets |
|
$ |
39,736 |
|
|
$ |
54,265 |
|
| |
|
|
|
|
|
|
|
|
| Lease liabilities, current portion |
|
|
42,249 |
|
|
|
57,393 |
|
| Lease liabilities, long-term |
|
|
- |
|
|
|
- |
|
| Total operating lease liabilities |
|
$ |
42,249 |
|
|
$ |
57,393 |
|
| |
|
|
|
|
|
|
|
|
| Weighted-average remaining lease term (months) |
|
|
8 |
|
|
|
11 |
|
| Weighted average discount rate |
|
|
5.25% |
|
|
|
5.25% |
|
Total lease expense for the three months ended March
31, 2023 and 2022 is as follows:
| |
|
Three Months Ended March 31, |
| |
|
2023 |
|
|
2022 |
|
| Operating lease expense |
|
$ |
15,216 |
|
|
$ |
15,216 |
|
| Variable lease expense |
|
|
4,437 |
|
|
|
2,393 |
|
| Total lease expense |
|
$ |
19,653 |
|
|
$ |
17,609 |
|
As of March 31, 2023, maturities of operating lease
liabilities were as follows:
| Year Ending December 31, |
|
Amount |
| 2023 – remaining |
|
$ |
43,089 |
|
| Less: imputed interest |
|
|
(840 |
) |
| Total operating lease liabilities |
|
$ |
42,249 |
|
|