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Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2023
Commitments And Contingencies Disclosure [Abstract]  
Schedule of Other information Related to Leases

Other information related to leases as of the three and six month periods ended June 30, 2023 and 2022, was as follows:

 

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Operating lease cost

 

 

$

196,538

 

 

$

165,785

 

 

$

334,107

 

 

$

326,695

 

Total lease cost

 

 

$

196,538

 

 

$

165,785

 

 

$

334,107

 

 

$

326,695

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of operating lease liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

 

$

81,843

 

 

$

165,785

 

 

$

243,185

 

 

$

326,695

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases

 

 

 

 

 

 

 

 

16.2 months

 

 

25.8 months

 

Weighted-average discount rate - operating leases

 

 

 

 

 

 

 

 

12.1%

 

 

12.8%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Maturity of Operating Lease Liabilities

The following table presents a maturity of the Company’s operating lease liabilities as of June 30, 2023:

 

Year

Operating Leases

 

Remaining payments in 2023

$

306,030

 

2024

 

446,361

 

2025

 

21,061

 

2026

 

2,408

 

Total lease payments

$

775,860

 

Less: Amount representing interest

 

(43,355

)

Present value of lease payment

 

732,505

 

Less: current portion of operating lease obligation

 

(583,675

)

Operating lease obligation, net of current portion

$

148,830