Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.22.2.2
COMMITMENTS AND CONTINGENCIES (Tables)
6 Months Ended
Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
SCHEDULE OF FUTURE PAYMENTS UNDER LEASE

The Company entered an operating lease for office space. The minimum future payments under the lease for our continuing operations in each of the years ending December 31 is as follows:

 

         
Remaining 2022   $ 140,382  
2023     284,953  
2024     294,727  
2025     311,483  
2026     311,483  
Subsequent years     856,578  
Total minimum lease payments   2,199,606  
Less: imputed interest     (541,133 )
Total lease liability     1,658,473  
Current portion of lease liability     (258,997 )
Non-current portion of lease liability   $ 1,399,476  
SUMMARY OF FUTURE PRINCIPAL PAYMENTS OUTSTANDING

The following table summarizes the future principal payments related to our outstanding debt as of June 30, 2022:

 

2022   $ 2022  
2022   $ 2,244,000  
2023     6,732,000  
2024     5,049,000  
Long Term Debt   $ 14,025,000