KORU Medical Systems Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

3 Months Ended

Mar. 31, 2021

The components of lease expense were as follows:

	Three Months Ended
	March 31,
	2021		2020

Operating lease cost	$	37,921	$	37,922
Short-term lease cost		34,889		5,457
Total lease cost	$	72,810	$	43,379

Finance lease cost:
Amortization of right-of-use assets	$	795	$	1,856
Interest on lease liabilities		28		87
Total finance lease cost	$	823	$	1,943

Supplemental cash flow information related to leases was as follows:

	Three Months Ended
	March 31,
	2021		2020

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	35,248	$	33,616
Financing cash flows from finance leases		803		1,848

Supplemental balance sheet information related to leases was as follows:

	March 31, 2021			December 31, 2020

Operating Leases
Operating lease right-of-use assets	$	201,598		$	236,846

Operating lease current liabilities		141,869			141,293
Operating lease long term liabilities		59,729			95,553
Total operating lease liabilities	$	201,598		$	236,846

Finance Leases
Property and equipment, at cost	$	12,725		$	12,725
Accumulated depreciation		(10,934	)		(10,139	)
Property and equipment, net	$	1,791		$	2,586

Finance lease current liabilities		1,843			2,646
Finance lease long term liabilities		—			—
Total finance lease liabilities	$	1,843		$	2,646


	March 31, 2021	December 31, 2020

Weighted Average Remaining Lease Term
Operating leases	1.1 Years	1.4 Years
Finance leases	0.5 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
2021 (excluding the three months ended March 31, 2021)		111,554			1,873
2022		97,257			—
2023		—			—
2024		—			—
2025		—			—
Thereafter		—			—
Total undiscounted lease payments		208,811			1,873
Less: imputed interest		(7,213	)		(30	)
Total lease liabilities	$	201,598		$	1,843