9. LEASES

OPERATING LEASES

As of June 30, 2021, the Company had no leases that were classified as a financing lease. As of June 30, 2021, the Company did not have additional operating and financing leases that have not yet commenced.

Total operating lease expenses for the three and six months ended June 30, 2021 were $128,415 and $298,093, respectively, and for the three and six months ended June 30, 2020 were $120,640 and $234,059, respectively, and are recorded in other operating expenses on the condensed consolidated statements of operations.

During the six months ended June 30, 2021, the Company entered into a lease agreement for approximately 27,540 square feet of space in Arizona. The lease commenced on January 1, 2021 and will terminate on May 31, 2028. The lease also includes a build-out allowance of $137,000. Monthly payments under the lease, net of buildout allowance, is $18,235 per month. The lease also includes a security deposit of $22,032.

BLINK CHARGING CO. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

9. LEASES – CONTINUED

Supplemental cash flows information related to leases was as follows:

 SCHEDULE OF SUPPLEMENTAL CASH FLOWS INFORMATION RELATED TO LEASES

Future minimum payments under non-cancellable leases as of June 30, 2021 were as follows:

 SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS