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, 2023

Schedule of lease cost for operating leases


		Three Months Ended June 30, 2023				Three Months Ended June 30, 2022				Six Months Ended June 30, 2023				Six Months Ended June 30, 2022
Lease Cost
Operating lease cost		$	117,250			$	140,583			$	234,499			$	299,256
Short-term lease cost			29,730				90,782				89,520				131,380
Variable lease cost			–				–				–				–
Sublease income			–				–				–				–
Total lease cost		$	146,980			$	231,365			$	324,019			$	430,636

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		$	174,365			$	199,966
Amortization of right-of-use assets		$	181,677			$	257,647

Schedule of lease-related assets and liabilities


		June 30, 2023				December 31, 2022
Lease Position
Operating Leases:
Operating lease right-of-use assets		$	1,324,310			$	1,505,987
Right-of-use liabilities operating leases short-term			412,159				391,117
Right-of-use liabilities operating leases long-term			947,604				1,143,011
Total operating lease liabilities		$	1,359,763			$	1,534,128

Schedule of right of use asset and lease liability


Lease Term and Discount Rate		June 30, 2023
Weighted-average remaining lease term (years):
Operating leases			3.2
Weighted-average discount rate:
Operating leases			6.05%

Schedule of maturities of lease liabilities


		Operating
		Leases
Remainder of 2023		$	231,384
2024			471,638
2025			485,702
2026			340,591
Total future undiscounted lease payments			1,529,315
Less: Interest			(169,552	)
Present value of lease liabilities		$	1,359,763