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

LEASES (Tables)

3 Months Ended

Mar. 31, 2022

The components of lease expense were as follows:

Schedule of components of lease expense


	Three Months Ended
	March 31,
	2022		2021

Operating lease cost	$	78,442	$	37,921
Short-term lease cost		49,709		34,889
Total lease cost	$	128,151	$	72,810

Finance lease cost:
Amortization of right-of-use assets	$	—	$	795
Interest on lease liabilities		—		28
Total finance lease cost	$	—	$	823

Supplemental cash flow information related to leases was as follows:


	Three Months Ended
	March 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	63,193	$	35,248
Financing cash flows from finance leases		—		803

Supplemental balance sheet information related to leases was as follows:

	March 31, 2022		December 31, 2021

Operating Leases
Operating lease right-of-use assets	$	4,309,282	$	95,553

Operating lease current liabilities		395,359		95,553
Operating lease long term liabilities		3,913,923		—
Total operating lease liabilities	$	4,309,282	$	95,553

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

Finance lease current liabilities		—		—
Finance lease long term liabilities		—		—
Total finance lease liabilities	$	—	$	—

	March 31, 2022	December 31, 2021

Weighted Average Remaining Lease Term
Operating leases	10.4 Years	0.6 Years
Finance leases	0 Years	0 Years

Weighted Average Discount Rate
Operating leases	4.05%	4.75%
Finance leases	—	4.75%

Maturities of lease liabilities are as follows:

Year Ending December 31,	Operating Leases			Finance Leases
2022 (excluding the three months ended March 31, 2022)	$	435,067		$	—
2023		499,503			—
2024		499,503			—
2025		499,503			—
2026		499,503			—
Thereafter		2,830,518			—
Total undiscounted lease payments		5,263,597			—
Less: imputed interest		(954,315	)		—
Total lease liabilities	$	4,309,282		$	—