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)

3 Months Ended

Mar. 31, 2023

Schedule of lease cost for operating leases


		Three Months Ended March 31, 2023				Three Months Ended March 31, 2022
Lease Cost
Operating lease cost		$	117,249			$	158,672
Short-term lease cost			59,790				17,120
Variable lease cost			–				–
Sublease income			–				–
Total lease cost		$	177,039			$	175,792

Schedule of supplemental cash flow information related to leases


		March 31, 2023				March 31, 2022
Other Lease Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	86,031			$	116,716
Amortization of right of use assets		$	90,057			$	158,672

Schedule of lease-related assets and liabilities


		March 31, 2023				December 31, 2022
Lease Position
Operating Leases:
Operating lease right-of-use assets		$	1,415,930			$	1,505,987
Right-of-use liabilities operating leases short-term			401,553				391,117
Right-of-use liabilities operating leases long-term			1,046,544				1,143,011
Total operating lease liabilities		$	1,448,097			$	1,534,128

Schedule of right of use asset and lease liability


Lease Term and Discount Rate		March 31, 2023
Weighted-average remaining lease term (years):
Operating leases			3.4
Weighted-average discount rate:
Operating leases			6.05%

Schedule of maturities of lease liabilities


		Operating
		Leases
Remainder of 2023		$	345,348
2024			471,638
2025			485,702
2026			340,591
Total future undiscounted lease payments			1,643,279
Less: Interest			(195,183	)
Present value of lease liabilities		$	1,448,096