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Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Operating Lease and Other Supplemental Information

The following amounts were recorded in the Company’s balance sheet relating to its operating and finance leases and other supplemental information:

		June 30, 2024				December 31, 2023
Right -of-use operating lease asset		$	828,447			$	1,135,668
Right-of-use finance lease asset			515,248				583,484
Current portion of obligations under operating leases			384,415				539,599
Current portion of obligations under finance leases			124,293				118,416
Obligations under operating leases, non-current			468,796				636,414
Obligations under finance leases, non-current			415,619				479,271
Total lease liabilities		$	1,393,123			$	1,773,700
Other supplemental information:
Weighted average remaining lease term (years)
Operating lease			2.82				2.86
Finance lease			3.78				4.28
Weighted average discount rate
Operating lease			4.19	%			4.26	%
Finance lease			9.76	%			9.75	%

Schedule of Maturity Analysis of Operating Lease Liabilities

The following table presents the maturity analysis of operating and finance lease liabilities as of June 30, 2024:

Years		Operating Leases
2024		$	232,036
2025			291,270
2026			186,931
2027			138,284
2028			58,566
Total lease payments			907,087
Less interest			53,876
Present value of lease liabilities			853,211

Schedule of Maturity Analysis of Finance Leases Liabilities

Years		Finance Leases
2024		$	85,738
2025			171,476
2026			171,476
2027			171,476
2028			47,607
Total lease payments			647,773
Less interest			107,861
Present value of lease liabilities			539,912

X

- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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X

- 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

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- References

No definition available.

+ Details

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X

- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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