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Lease (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Lease [Abstract]    
Schedule of Operating Leases have Remaining Lease Terms The Company’s operating leases have remaining lease terms of up to approximately five years.
   September 30,
2023
   December 31,
2022
 
ASSETS  (Unaudited)     
Operating lease right-of-use assets  $899,817   $1,161,141 
LIABILITIES          
Operating lease liabilities (current)   392,666    369,314 
Operating lease liabilities (non-current)   507,151    791,827 
The following provides details of the Company’s lease expenses:
   Year Ended
December 31,
 
   2022   2021 
Operating lease expenses  $358,576   $335,208 
   Year Ended
December 31,
 
   2022   2021 
Cash paid for amounts included in the measurement of operating lease liabilities  $358,576   $335,208 
   December 31,
2022
   December 31,
2021
 
Weighted Average Remaining Lease Term:          
Operating leases   2.48 years    2.90 years 
           
Weighted Average Discount Rate:          
Operating leases   1.49%   1.39%
Schedule of Company’s Lease Expenses The following provides details of the Company’s lease expenses:
   Three Months Ended
September 30,
 
   2023   2022 
   (Unaudited) 
Operating lease expenses  $96,875   $87,367 
   Nine Months Ended
September 30,
 
   2023   2022 
   (Unaudited) 
Operating lease expenses  $288,751   $261,494 

 

   Nine months Ended
September 30,
 
   2023   2022 
   (Unaudited) 
Cash paid for amounts included in the measurement of operating lease liabilities  $288,751   $261,494 
   September 30,
2023
   December 31,
2022
 
Weighted Average Remaining Lease Term:        
Operating leases   2.04 years    2.48 years 
           
Weighted Average Discount Rate:          
Operating leases   1.53%   1.49%
The Company has no finance leases. The Company’s leases primarily include various office and laboratory spaces, copy machine, and vehicles under various operating lease arrangements. The Company’s operating leases have remaining lease terms of up to approximately five years.
   December 31,
2022
   December 31,
2021
 
ASSETS        
Operating lease right-of-use assets  $1,161,141   $1,471,899 
LIABILITIES          
Operating lease liabilities (current)   369,314    347,100 
Operating lease liabilities (noncurrent)   791,827    1,124,799 

 

Schedule of Minimum Future Annual Payments Under Non-Cancellable Leases The minimum future annual payments under non-cancellable leases during the next five years and thereafter, at rates now in force, are as follows:
   Operating
leases
 
2023 (excluding nine months ended September 30, 2023)  $96,585 
2024   400,432 
2025   350,693 
2026   56,916 
Thereafter   
-
 
Total future minimum lease payments, undiscounted   904,626 
Less: Imputed interest   (4,809)
Present value of future minimum lease payments  $899,817 
The minimum future annual payments under non-cancellable leases during the next five years and thereafter, at rates now in force, are as follows:
   Operating leases 
2023  $374,478 
2024   389,613 
2025   348,837 
2026   56,916 
2027   
-
 
Total future minimum lease payments, undiscounted   1,169,844 
Less: Imputed interest   8,703 
Present value of future minimum lease payments  $1,161,141