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LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Leases  
SCHEDULE OF SUPPLEMENTAL BALANCE INFORMATION

Supplemental balance sheet information related to operating and financing leases was as follows:

 

Operating leases

 

   December 31, 2024   December 31, 2023 
         
Operating lease liabilities - current  $2,119,894   $847,368 
Operating lease liabilities - non-current   7,412,693    630,853 
Total  $9,532,587   $1,478,221 

 

Financing leases

 

    December 31, 2024     December 31, 2023  
             
Finance lease liabilities - current   $ 43,421     $ 41,647  
Finance lease liabilities - non-current     33,602       77,024  
Total   $ 77,023     $ 118,671  
SCHEDULE OF SUPPLEMENTAL CASH FLOW AND NON-CASH INFORMATION

The following table includes supplemental cash flow and non-cash information related to leases:

 

   December 31, 2024   December 31, 2023 
Cash paid of amounts included in the measurement of lease liabilities:           
Operating cash flows used in operating leases   $2,011,837   $1,104,769 
Operating cash flows used in finance leases  $4,677   $7,048 
Financing cash flows used in finance leases   $41,648   $40,003 
Right-of-use assets obtained in exchange for lease obligations:           
Finance lease liabilities   $-   $60,805 
Operating lease liabilities   $9,587,851   $1,113,140 
SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERMS AND DISCOUNT RATES

The weighted average remaining lease terms and discount rates for all of operating lease and finance leases were as follows:

 

   December 31, 2024   December 31, 2023 
Weighted-average remaining lease term (years):          
Finance lease   1.95 years    2.85 years 
Operating leases   4.39 years    1.82 years 
           
Weighted average discount rate:          
Finance leases   4.85%   4.61%
Operating leases   8.65%   8.61%
SCHEDULE OF MATURITIES OF OPERATING AND FINANCE LEASE LIABILITIES

The following is a schedule of maturities of operating and finance lease liabilities as of December 31, 2024:

 

Operating leases

 

Twelve months ending December 31,     
Operating leases     
2025  $2,857,880 
2026   2,507,498 
2027   2,343,000 
2028   2,343,000 
2029   1,416,250 
Total future minimum lease payments   11,467,628 
Less: imputed interest   (1,935,041)
Present value of operating lease liabilities  $9,532,587 

 

Finance leases

 

Twelve months ending December 31,     
Finance leases     
2025  $46,325 
2026   25,172 
2027   8,701 
2028   1,451 
Total future minimum lease payments   81,649 
Less: imputed interest   (4,626)
Present value of finance lease liabilities  $77,023