XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.23.2

OPERATING LEASES | 6 Months Ended
--- | ---
Jun. 30, 2023
Operating Leases |
OPERATING LEASES | NOTE 7 - OPERATING LEASES The Company periodically enters operating lease contracts for office space and equipment. Arrangements are evaluated at inception to determine whether such arrangements constitute a lease. Right of use assets (“ROU assets”) represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities were recognized on the transition date based on the present value of lease payments over the respective lease term, with the office space ROU asset adjusted for deferred rent liability. The Company has three material operating leases for office space. In March 2023, the Company amended its primary office lease to obtain additional space, as well as extend the term. The leases have remaining lease terms of 90, 43 and 26 months as of June 30, 2023. For practical expediency, the Company has elected to not recognize ROU assets and lease liabilities related to short-term leases. In accordance with ASC Topic 842, Leases, the Company has recorded ROU assets of $2,030,938 and a related lease liability of $2,052,952 as of June 30, 2023. The Company recorded lease expense of $184,575 and $126,815 for the six months ended June 30, 2023 and 2022, respectively, for its leased assets. Cash paid for amounts included in the measurement of operating lease liabilities was $175,382 and $127,777 for the six months ended June 30, 2023 and 2022, respectively. The present value of the Company’s operating lease liabilities as of June 30, 2023 is shown below. Maturity of Operating Lease Liabilities SCHEDULE OF OPERATING LEASE LIABILITY
|  | June 30, 2023 |
Remainder of 2023 |  | $ | 178,783 |
2024 |  |  | 424,753 |
2025 |  |  | 450,551 |
2026 |  |  | 365,911 |
2027 |  |  | 297,947 |
2028 |  |  | 295,689 |
Thereafter |  |  | 604,050 |
Total lease payments |  |  | 2,617,684 |
Less imputed interest |  |  | (564,732 | )
Present Value of Lease Liabilities |  | $ | 2,052,952 |
Operating lease liabilities – current |  |  | 273,539 |
Operating lease liabilities – long-term |  |  | 1,779,413 |
As of June 30, 2023, the Company’s operating leases had a weighted average remaining lease term of 6.4 years and a weighted average discount rate of 7.51%.

X
- References No definition available. + Details
Name: | SMTI_DisclosureOperatingLeasesAbstract
Namespace Prefix: | SMTI_
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