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FINANCE LEASE OBLIGATIONS | 12 Months Ended
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Dec. 31, 2023
Disclosure Text Block [Abstract] |
Lessee, Finance Leases [Text Block] | NOTE 8 – FINANCE LEASE OBLIGATIONS The Company has entered into lease commitments for equipment that meet the requirements for capitalization. The equipment has been capitalized and is included in property and equipment in the accompanying consolidated balance sheets. The related obligations are based upon the present value of the future minimum lease payments with the following:
|  | December 31, 2023 |  |  | December 31, 2022 |
Weighted average remaining lease terms |  |  | 2.92 |  |  |  | 3.44 |
Weighted average interest rates |  |  | 7.15 | % |  |  | 7.31 | %
At December 31, 2023, future payments under finance leases are as follows:
2024 |  | $ | 176,686 |
2025 |  |  | 115,080 |
2026 |  |  | 115,080 |
2027 |  |  | 47,949 |
Total minimum lease payments |  |  | 454,795 |
Less amounts representing interest |  |  | (53,342 | )
Present value of net minimum lease payments |  |  | 401,453 |
Less current portion |  |  | (154,336 | )
Long-term finance lease obligation |  | $ | 247,117 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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