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, 2024

Schedule of lease cost for operating leases


		Three Months Ended March 31, 2024				Three Months Ended March 31, 2023
Lease Cost
Operating lease cost		$	117,249			$	117,249
Short-term lease cost			37,961				59,790
Variable lease cost			–				–
Sublease income			–				–
Total lease cost		$	155,210			$	177,039

Schedule of supplemental cash flow information related to leases


		March 31, 2024				March 31, 2023
Other Lease Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	95,891			$	86,031
Amortization of right-of-use assets		$	96,588			$	90,057

Schedule of lease related assets and liabilities


		March 31, 2024				December 31, 2023
Lease Position
Operating Leases:
Operating lease right-of-use assets		$	1,039,625			$	1,136,213
Right-of-use liabilities operating leases short-term			410,221				399,611
Right-of-use liabilities operating leases long-term			668,669				775,170
Total operating lease liabilities		$	1,078,890			$	1,174,781

Schedule of right-of-use asset and lease liabilities


Lease Term and Discount Rate		March 31, 2024
Weighted-average remaining lease term (years):
Operating leases			2.4
Weighted-average discount rate:
Operating leases			6.82%

Schedule of maturities of lease liabilities


		Operating
		Leases
Remainder of 2024		$	355,082
2025			485,702
2026			340,591
Total future undiscounted lease payments			1,181,375
Less: Interest			(102,485	)
Present value of lease liabilities		$	1,078,890