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LEASES | 3 Months Ended
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Mar. 31, 2024
LEASES |
LEASES | NOTE 11 — LEASES The following table depicts the Company’s future annual minimum leases payments as of March 31, 2024:
|  | Operating |
|  | Leases |
Consumer |  |  |
2024 |  | $ | 415,526 |
2025 |  |  | 412,271 |
2026 |  |  | 354,998 |
2027 |  |  | 50,114 |
2028 |  |  | - |
Thereafter |  |  | - |
Total minimum lease payments |  |  | 1,232,909 |
Less imputed interest |  |  | (65,819 | )
Sub-total |  |  | 1,167,090 |
Commercial |  |  |  |
2024 |  |  | 1,048,490 |
2025 |  |  | 1,321,298 |
2026 |  |  | 474,320 |
2027 |  |  | 33,454 |
2028 |  |  | - |
Thereafter |  |  | - |
Total minimum lease payments |  |  | 2,877,562 |
Less imputed interest |  |  | (118,652 | )
Sub-total |  |  | 2,758,910 |
Total |  |  | 3,926,000 |
Current portion |  |  | 1,840,082 |
|  | $ | 2,085,918 |
All of the Company’s facilities leases as of March 31, 2024 are non-cancellable and triple net, for which it pays its proportionate share of common area maintenance, property taxes and property insurance. Leasing costs for the three months ended March 31, 2024 and 2023 were $784,735 and $659,616, respectively, comprised of a combination of minimum lease payments and variable lease costs. As of March 31, 2024, the weighted average remaining lease term and weighted average discount rate for operating leases were 2.3 years and 4.3%. As of March 31, 2023, the weighted average remaining lease term and weighted average discount rate for operating leases were 3.3 years and 4.4%.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 840 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//840/tableOfContent + Details
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