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, 2024

Schedule of lease costs for operating leases


		Three Months Ended September 30, 2024				Three Months Ended September 30, 2023				Nine Months Ended September 30, 2024				Nine Months Ended September 30, 2023
Lease Cost
Operating lease cost			117,249			$	117,249			$	351,747			$	351,748
Short-term lease cost			44,400				30,751				119,591				120,271
Variable lease cost			–				–				–				–
Sublease income			–				–				–				–
Total lease cost		$	161,649			$	148,000			$	471,338			$	472,019

Schedule of supplemental cash flow information related to leases


		2024				2023
Other Lease Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	295,007			$	265,161
Amortization of right-of-use assets		$	295,019			$	274,895

Schedule of lease related assets and liabilities


		September 30, 2024				December 31, 2023
Lease Position
Operating Leases:
Operating lease right-of-use assets		$	841,194			$	1,136,213
Right-of-use liabilities operating leases short-term			432,059				399,611
Right-of-use liabilities operating leases long-term			447,717				775,170
Total operating lease liabilities		$	879,776			$	1,174,781

Schedule of lease term and discount rate


Lease Term and Discount Rate		September 30, 2024
Weighted-average remaining lease term (years):
Operating leases			1.9
Weighted-average discount rate:
Operating leases			6.82%

Schedule of maturities of lease liabilities


		Operating
		Leases
Remainder of 2024		$	119,898
2025			485,702
2026			340,591
Total future undiscounted lease payments			946,191
Less: Interest			(66,415	)
Present value of lease liabilities		$	879,776