XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.23.3

LEASES | 9 Months Ended
--- | ---
Sep. 30, 2023
Leases [Abstract] |
LEASES | LEASES The Company’s right-of-use assets and lease liabilities for its operating lease consisted of the following amounts as of September 30, 2023 and December 31, 2022:
| Nine Months Ended September 30, 2023 |  | Year Ended December 31, 2022
Assets: |  |  |
Operating lease right-of-use assets | $ | 171,295 |  |  | $ | 77,011 |
Liabilities: |  |  |
Operating lease liability, current | 173,799 |  |  | 48,127 |
Operating lease liability, non-current | — |  |  | 29,268 |
Total lease liability | $ | 173,799 |  |  | $ | 77,395 |
The Company recognizes lease expense for its operating leases within general, administrative, and other expenses on the Company’s condensed consolidated statements of operations and comprehensive income. The Company’s lease expense for the periods presented consisted of the following:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Operating lease cost | $ | 69,904 |  |  | $ | 12,471 |  |  | $ | 94,846 |  |  | $ | 36,313 |
Variable lease cost | 20,540 |  |  | 1,221 |  |  | 29,465 |  |  | 2,444 |
Total lease cost | $ | 90,444 |  |  | $ | 13,692 |  |  | $ | 124,311 |  |  | $ | 38,757 |
The following table shows supplemental cash flow information related to lease activities for the periods presented:
| Nine Months Ended September 30,
| 2023 |  | 2022
Cash paid for amounts included in the measurement of the lease liability |  |  |
Operating cash flows from operating leases | $ | 96,891 |  |  | $ | 36,121 |
ROU assets obtained in exchange for new lease liabilities | — |  |  | — |
The table below shows a weighted-average analysis for lease terms and discount rates for all operating leases for the periods presented:
| Nine Months Ended September 30, 2023 |  | Year Ended December 31, 2022
Weighted-average remaining lease term (in years) | 0.80 |  | 1.58
Weighted-average discount rate | 3.42 | % |  | 3.36 | %
Future minimum noncancellable lease payments under the Company’s operating leases on an undiscounted basis reconciled to the respective lease liability at September 30, 2023 are as follows:
| Operating leases
Remaining of 2023 | $ | 117,527 |
2024 | 118,058 |
2025 | — |
2026 | — |
2027 | — |
Thereafter | — |
Total operating lease payments (undiscounted) | 235,585 |
Less: Imputed interest | (61,786) |
Lease liability as of September 30, 2023 | $ | 173,799 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration