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LEASES (Tables) | 3 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
Schedule of Future Lease Payments of Operating Lease and Finance Lease | Future lease payments associated with these operating and financing leases as of March 31, 2025 are as follows:
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Other Future Years |  | Total
Operating lease payments (1) | $ | 547,077 |  |  | $ | 636,649 |  |  | $ | 460,497 |  |  | $ | 250,606 |  |  | $ | 149,628 |  |  | $ | — |  |  | $ | 2,044,457 |
Financing lease payments (2) | 749,113 |  |  | 647,580 |  |  | 262,333 |  |  | 17,609 |  |  | — |  |  | — |  |  | 1,676,635 |
(1)The weighted average annual discount rate as of March 31, 2025 for operating leases was 4.50%. Based on this rate, the future lease payments above include imputed interest of $148,280. The weighted average remaining term of operating leases was 3.25 years. (2)The weighted average annual discount rate as of March 31, 2025 for financing leases was 7.45%. Based on this rate, the future lease payments above include imputed interest of $121,951. The weighted average remaining term of financing leases was 1.87 years.
Schedule of Reconciliation Between The Undiscounted Future Cash Flows And The Operating And Financing Lease Liabilities | The following table represents a reconciliation between the undiscounted future cash flows in the table above and the operating and financing lease liabilities disclosed in the Condensed Balance Sheets:
| As of
| March 31, 2025 |  | December 31, 2024
Operating lease liability, current portion | $ | 661,487 |  |  | $ | 648,204 |
Operating lease liability, non-current portion | 1,234,690 |  |  | 1,405,837 |
Operating lease liability, total | $ | 1,896,177 |  |  | $ | 2,054,041 |
Total undiscounted future cash flows (sum of future operating lease payments) | 2,044,457 |  |  | 2,224,840 |
Imputed interest | 148,280 |  |  | 170,799 |
Undiscounted future cash flows less imputed interest | $ | 1,896,177 |  |  | $ | 2,054,041 |
Financing lease liability, current portion | $ | 846,380 |  |  | $ | 906,119 |
Financing lease liability, non-current portion | 708,304 |  |  | 647,078 |
Financing lease liability, total | $ | 1,554,684 |  |  | $ | 1,553,197 |
Total undiscounted future cash flows (sum of future financing lease payments) | 1,676,635 |  |  | 1,667,763 |
Imputed interest | 121,951 |  |  | 114,566 |
Undiscounted future cash flows less imputed interest | $ | 1,554,684 |  |  | $ | 1,553,197 |
Schedule of Lease Cost | The following table provides supplemental information regarding lease costs in the Condensed Statements of Operations:
|  |  | For the Three Months Ended
|  |  |  |  | March 31, 2025 |  | March 31, 2024
Operating lease costs |  |  |  |  | $ | 175,091 |  |  | $ | 175,091 |
Short-term lease costs (1) |  |  |  |  | 1,152,304 |  |  | 981,291 |
Financing lease costs: |  |  |  |  |  |  |
Amortization of financing lease assets (2) |  |  |  |  | 264,787 |  |  | 260,901 |
Interest on financing lease liabilities (3) |  |  |  |  | 28,741 |  |  | 31,317 |
(1)Amount included in Lease operating expenses (2)Amount included in Depreciation, depletion and amortization (3)Amount included in Interest (expense)

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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability and finance lease liability. + References No definition available. + Details
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- Definition Tabular disclosure of lessee's a reconciliation between the undiscounted future cash flows and the operating and financing lease liabilities . + References No definition available. + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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