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Leases (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Schedule of Lease Payments

Certain leases include rental escalation clauses, renewal options and/or termination options, which are factored into the Company’s determination of lease payments when appropriate.

		September 30, 2024				December 31, 2023
		(unaudited)
Weighted average remaining lease term:
Operating lease			4.01 years				4.81 years

Weighted average discount rate:
Operating lease			7.50	%			7.56	%

Schedule of Balances for the Operating Leases

The balances for the operating leases where the Company is the lessee are presented as follows within the unaudited interim consolidated balance sheets:

		September 30, 2024				December 31, 2023
		(unaudited)
Operating lease right-of-use assets, net
Operating lease		$	1,453,125			$	1,561,058

Lease liabilities
Current portion of operating lease liabilities			406,414				358,998
Non-current portion of operating lease liabilities			1,181,309				1,317,678
		$	1,587,723			$	1,676,676

Schedule of Future Lease Payments Under Operating Leases

Future lease payments under operating leases as of September 30, 2024 were as follows:

		Operating Leases

Remainder of FY2024		$	154,836
FY2025			449,915
FY2026			393,261
FY2027			401,127
FY2028			409,149
FY2029			34,605
Total lease payments		$	1,842,893
Less: imputed interest			255,170
Present value of lease liabilities ⁽¹⁾		$	1,587,723

(1)

As of September 30, 2024, present value of future operating lease payments consisted of current portion of operating lease liabilities and non-current portion of operating lease liabilities, amounting to $406,414 and $1,181,309, respectively.