LEASE OBLIGATIONS |
6 Months Ended |
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Jun. 30, 2022 | |
LEASE OBLIGATIONS | |
LEASE OBLIGATIONS |
NOTE 10: LEASE OBLIGATIONS In April 2021, the Company entered into a lease agreement for operating space in Los Angeles, California. The lease expires in June 2023 and has monthly base rent payments of $17,257. The lease required a $19,500 deposit. The Company adopted ASC 842 on January 1, 2021 and recognized a right of use and liability of $250,244 using a discount rate of 6.0%.H&J leases office and showroom facilities in Dallas and Houston, Texas, and New Orleans, Louisiana. The leases expire at various dates through June 2022 with base rents ranging from $3,400 to $6,500. Stateside leases office and showroom facilities in Los Angeles, California. The leases expire at various dates through November 2022 with base rents ranging from $3,100 to $9,000. Total rent expense for the three months ended June 30, 2022 and 2021 was $195,060 and $173,052, and $469,482 and $305,841 for the six months end June 30, 2022 and 2021, respectively. |