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)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of lease cost for operating leases


		Three Months Ended September 30, 2023				Three Months Ended September 30, 2022				Nine Months Ended September 30, 2023				Nine Months Ended September 30, 2022
Lease Cost
Operating lease cost		$	117,249			$	107,534			$	351,748			$	406,786
Short-term lease cost			30,751				75,015				120,271				208,009
Variable lease cost			–				–				–				–
Sublease income			–				–				–				–
Total lease cost		$	148,000			$	182,549			$	472,019			$	614,795

Schedule of supplemental cash flow information related to leases


		2023				2022
Other Lease Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	265,161			$	269,836
Amortization of right-of-use assets		$	274,895			$	342,112

Schedule of lease- related assets and liabilities


		September 30, 2023				December 31, 2022
Lease Position
Operating Leases:
Operating lease right-of-use assets		$	1,231,092			$	1,505,987
Right-of-use liabilities operating leases short-term			423,849				391,117
Right-of-use liabilities operating leases long-term			845,117				1,143,011
Total operating lease liabilities		$	1,268,966			$	1,534,128

Schedule of lease payments

Schedule of lease payments
Lease Term and Discount Rate		September 30, 2023
Weighted-average remaining lease term (years):
Operating leases			2.9
Weighted-average discount rate:
Operating leases			6.05%

Schedule of maturities of lease liabilities


		Operating
		Leases
Remainder of 2023		$	116,557
2024			471,638
2025			485,702
2026			340,591
Total future undiscounted lease payments			1,414,488
Less: Interest			(145,522	)
Present value of lease liabilities		$	1,268,966