KORU Medical Systems Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

12 Months Ended

Dec. 31, 2021

The components of lease expense were as follows:


	Years Ended
	December 31,
	2021		2020

Operating lease cost	$	149,476	$	151,686
Short-term lease cost		146,604		65,227
Total lease cost	$	296,080	$	216,913

Finance lease cost:
Amortization of right-of-use assets	$	2,586	$	5,302
Interest on lease liabilities		60		237
Total finance lease cost	$	2,646	$	5,539

Supplemental cash flow information related to leases was as follows:


	Years Ended
	December 31,
	2021		2020

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	141,293	$	136,888
Financing cash flows from finance leases	$	2,646	$	5,296

Supplemental balance sheet information related to leases was as follows:

	December 31, 2021			December 31, 2020
Operating Leases
Operating lease right-of-use assets	$	95,553		$	236,846

Operating lease liability - current		95,553			141,293
Operating lease liability, net of current portion		—			95,553
Total operating lease liabilities	$	95,553		$	236,846

Finance Leases
Property and equipment, at cost	$	12,725		$	12,725
Accumulated depreciation		(12,725	)		(10,139	)
Property and equipment, net	$	—		$	2,586

Finance lease liability – current		—			2,646
Finance lease liability, net of current portion		—			—
Total finance lease liabilities	$	—		$	2,646

	December 31, 2021	December 31, 2020

Weighted Average Remaining Lease Term
Operating leases	0.6 Years	1.4 Years
Finance leases	0 Years	0.7 Years

Weighted Average Discount Rate
Operating leases	4.75%	4.75%
Finance leases	4.75%	4.75%

Maturities of lease liabilities are as follows:

Year Ending December 31,	Operating Leases			Finance Leases
2022		97,256			—
2023		—			—
2024		—			—
2025		—			—
Thereafter		—			—
Total undiscounted lease payments		97,256
Less: imputed interest		(1,703	)		—
Total lease liabilities	$	95,553		$	—