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Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases  
Schedule of Lease Cost

The Company’s operating and finance right-of-use assets and lease liabilities are as follows:

 

   As of
December 31, 2023		   As of
December 31, 2022		 
Operating lease right-of-use asset  $356,109   $462,874 
Operating lease liability, current  $126,724   $118,235 
Operating lease liability, long-term  $259,627   $376,851 
           
Remaining lease term   3.1 years    4.1 years 
Discount rate   3.63%   3.63% 

 

 

CEA Industries Inc.

Notes to Consolidated Financial Statements

December 31, 2023

(in US Dollars except share numbers)

 

Cash paid during the year for amounts included in the measurement of lease liabilities is as follows:

 

   For the Year Ended December 31, 2023   For the Year Ended December 31, 2022 
Cash paid for operating lease  $124,897   $111,204 
Schedule of Future Annual Minimum Lease Payments

Future annual minimum under non-cancellable operating leases as of December 31, 2023 were as follows:

 

Years ended December 31,    
2024   128,643 
2025   132,503 
2026   136,473 
Thereafter   11,654 
Total minimum lease payments   409,273 
Less imputed interest   (22,922)
Present value of minimum lease payments  $386,351