Quarterly report pursuant to Section 13 or 15(d)

Operating Leases (Tables)

v3.22.2.2
Operating Leases (Tables)
9 Months Ended
Sep. 30, 2022
Operating Leases  
Schedule of Weighted Average Remaining Lease Terms and Discount Rate for Operating Leases

 Schedule of Weighted Average Remaining Lease Terms and Discount Rate for Operating Leases

Remaining lease term (years) for our office lease     3.0 *
Remaining lease term (years) for our equipment lease     1.5  
Weighted average remaining lease term (years) for our facility and equipment leases     2.95  
Weighted average discount rate for our facility and equipment leases     8.0 %

 

* Includes term applicable to the lease renewal signed on October 3, 2022.
Schedule of Maturities of Lease Liabilities for all Operating Leases

Annual lease liabilities for all operating leases were as follows as of September 30, 2022, including the remaining costs associated with the office lease renewal executed on October 3, 2022:

Schedule of Maturities of Lease Liabilities for all Operating Leases 

         
2022   $ 23,192  
2023     93,629  
2024     92,302  
2025     70,040  
Total lease payments     279,163  
Less: Interest     (31,196 )
Present value of lease liabilities     247,967  
Less: current maturities     (76,260 )
Non-current lease liability   $ 171,707