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Leases | 12 Months Ended
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Dec. 31, 2024
Lessee Disclosure [Abstract] |
Leases | N0TE 13 - LEASES Leases The Company leases its offices, manufacturing, and warehouse facility in San Diego County under a non-cancellable operating lease. Our corporate headquarters are in a leased space comprising of approximately 29,342 square feet in Escondido, California under leases that were modified and extended in September 2023 and expires in August 2030. The Company also leases a 3,208 square foot facility in Salt Lake City, Utah expiring in June 2025, that houses our Ion software development team. Additionally, we lease a 1,632 square foot facility located in Anaheim, California, with the lease expiring in June 2025. Both the Utah and Anaheim leases expired in June 2023 and were renewed for two-year periods on similar terms. The Bressner leases space comprising of 11,836 square feet on a month-to-month basis. For the years ended December 31, 2024 and 2023, rent expense was $788,629 and $676,204, respectively. In addition to leases for physical facilities the Company also leases certain office equipment and vehicles. For the years ended December 31, 2024 and 2023, lease expenses, excluding office leases, was $90,144 and $99,224, respectively. Other information related to leases as of the year ended December 31, 2024 and 2023 are as follows:
|  |  | For the Year Ended December 31, |
|  |  | 2024 |  |  | 2023 |
Operating lease expense |  |  | $ | 788,629 |  |  | $ | 676,204 |
Total lease expense |  |  | $ | 788,629 |  |  | $ | 676,204 |
Cash paid for amounts included in the measurement of operating lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases |  |  | $ | 608,803 |  |  | $ | 551,344 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  |  | $ | - |  |  | $ | 1,590,568 |
Operating lease obligation for new operating leases |  |  | $ | - |  |  | $ | 1,446,865 |
Weighted-average remaining lease term - operating leases |  |  | 65.9 months |  |  | 73 months |
Weighted-average discount rate - operating leases |  |  | 13.6% |  |  | 13.6% |
The following table presents maturity of the Company's operating lease liabilities as of December 31, 2024:
Year | Operating Leases |
2025 |  | 480,727 |
2026 |  | 419,889 |
2027 |  | 414,882 |
2028 |  | 419,922 |
2029 |  | 436,719 |
Thereafter |  | 298,808 |
Total lease payments |  | 2,470,947 |
Less: Amount representing interest |  | (671,326 | )
Present value of lease payment |  | 1,799,621 |
Less: current portion of operating lease obligation |  | (285,937 | )
Operating lease obligation, net of current portion | $ | 1,513,684 |

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- 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
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