Volcon ePowersports, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

LEASES (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of lease cost for operating leases


		Three Months Ended June 30, 2022				Three Months Ended June 30, 2021				Six Months Ended June 30, 2022				Six Months Ended June 30, 2021
Lease Cost
Operating lease cost		$	140,583			$	93,994			$	299,256			$	131,019
Short-term lease cost			90,782				55,438				131,380				88,248
Variable lease cost			–				–				–				–
Sublease income			–				–				–				–
Total lease cost		$	231,365			$	149,432			$	430,636			$	219,267

Schedule of supplemental cash flow information related to leases


		June 30, 2022				June 30, 2021
Other Lease Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	199,966			$	149,432

Schedule of lease-related assets and liabilities


		June 30, 2022				December 31, 2021
Lease Position
Operating Leases
Operating lease right-of-use assets		$	800,843			$	2,182,612
Right of use liabilities operating leases short term			301,146				456,207
Right of use liabilities operating leases long term			509,925				1,767,506
Total operating lease liabilities		$	811,071			$	2,223,713

Schedule of right of use asset and lease liability


Lease Term and Discount Rate
Weighted-average remaining lease term (years)
Operating leases			3.3
Weighted-average discount rate
Operating leases			5.5%

Schedule of maturities of lease liabilities


		Operating
		Leases

Remainder of 2022		$	117,172
2023			239,261
2024			168,010
2025			146,908
2026			99,880
Total future undiscounted lease payments			771,231
Less: Interest			(74,226	)
Present value of lease liabilities		$	697,005