Lessee Leases (Tables)
|
3 Months Ended |
Mar. 31, 2022 |
|---|
| Leases [Abstract] |
|
| Schedule of lease costs recognized in consolidated statements of operations |
Lease
costs recognized in our consolidated statements of operations is summarized as follows:
Schedule of lease costs recognized in consolidated statements of operations
| |
|
2022 |
|
|
2021 |
|
| |
|
Three Months Ended
March 31, |
|
| |
|
2022 |
|
|
2021 |
|
| Operating lease cost included in cost of goods |
|
$ |
7,964 |
|
|
$ |
32,864 |
|
| Operating lease cost included in operating costs |
|
|
7,200 |
|
|
|
11,096 |
|
| Total operating lease cost (1) |
|
|
15,164 |
|
|
|
43,960 |
|
| Finance lease cost, included in cost of goods: |
|
|
|
|
|
|
|
|
| Amortization of lease assets |
|
|
47,416 |
|
|
|
28,518 |
|
| Interest on lease liabilities |
|
|
6,929 |
|
|
|
5,467 |
|
| Total finance lease cost |
|
|
54,345 |
|
|
|
33,985 |
|
| Short-term lease cost |
|
|
- |
|
|
|
2,300 |
|
| Total lease cost |
|
$ |
69,509 |
|
|
$ |
80,245 |
|
| |
(1) |
Right
of use asset amortization under operating agreements was $12,488 and $40,981 for the three months ended March 31, 2022 and 2021,
respectively. |
|
| Schedule of other information about lease amounts recognized in Condensed Consolidated Financial Statements |
Other
information about lease amounts recognized in our condensed consolidated financial statements is summarized as follows:
Schedule of other information about lease amounts recognized in Condensed Consolidated Financial Statements
| |
|
March 31,
2022 |
|
|
December 31,
2021 |
|
| Weighted-average remaining lease term – operating leases |
|
|
0.55 years |
|
|
|
0.95 years |
|
| Weighted-average remaining lease term – finance leases |
|
|
3.72 years |
|
|
|
3.83 years |
|
| Weighted-average discount rate – operating leases |
|
|
3.4 |
% |
|
|
5.7 |
% |
| Weighted-average discount rate – finance leases |
|
|
4.8 |
% |
|
|
3.8 |
% |
|
| Schedule of finance lease liabilities |
Finance
lease liabilities were as follows:
Schedule of finance lease liabilities
| |
|
March 31,
2022 |
|
|
December 31,
2021 |
|
| Gross finance lease liabilities |
|
$ |
638,757 |
|
|
$ |
634,192 |
|
| Less: imputed interest |
|
|
(51,356 |
) |
|
|
(51,212 |
) |
| Present value of finance lease liabilities |
|
|
587,401 |
|
|
|
582,980 |
|
| Less: current portion |
|
|
(175,797 |
) |
|
|
(167,515 |
) |
| Long-term finance lease liabilities |
|
$ |
411,604 |
|
|
$ |
415,465 |
|
|
| Schedule of operating lease liabilities |
Operating
lease liabilities were as follows:
Schedule of operating lease liabilities
| |
|
March 31,
2022 |
|
|
December 31,
2021 |
|
| Gross operating lease liabilities |
|
$ |
33,565 |
|
|
$ |
55,865 |
|
| Less: imputed interest |
|
|
(646 |
) |
|
|
(8,832 |
) |
| Present value of operating lease liabilities |
|
|
32,919 |
|
|
|
47,033 |
|
| Less: current portion |
|
|
(32,919 |
) |
|
|
(42,058 |
) |
| Long-term operating lease liabilities |
|
$ |
- |
|
|
$ |
4,975 |
|
|
| Schedule of lease maturities |
Lease
maturities were as follows:
Schedule
of lease maturities
Maturity
of lease liabilities
| 12 months ending March 31, |
|
Finance leases |
|
|
Operating leases |
|
| 2022 |
|
$ |
175,797 |
|
|
$ |
32,919 |
|
| 2023 |
|
|
150,502 |
|
|
|
- |
|
| 2024 |
|
|
140,912 |
|
|
|
- |
|
| 2025 |
|
|
100,785 |
|
|
|
- |
|
| 2026 |
|
|
19,405 |
|
|
|
- |
|
| Total |
|
|
587,401 |
|
|
|
32,919 |
|
| Less: Current maturities |
|
|
(175,797 |
) |
|
|
(32,919 |
) |
| Long-term liability |
|
$ |
411,604 |
|
|
$ |
- |
|
|