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Lease (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
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.
   March 31,
2024
   December 31,
2023
 
   (Unaudited)     
ASSETS        
Operating lease right-of-use assets  $708,023   $809,283 
LIABILITIES          
Operating lease liabilities (current)   389,870    401,826 
Operating lease liabilities (non-current)   318,153    407,457 

 

The Company’s operating leases have remaining lease terms of up to approximately five years.
   December 31,
2023
   December 31,
2022
 
ASSETS        
Operating lease right-of-use assets  $809,283   $1,161,141 
LIABILITIES          
Operating lease liabilities (current)   401,826    369,314 
Operating lease liabilities (non-current)   407,457    791,827 

 

Schedule of Company’s Lease Expenses The following provides details of the Company’s lease expenses:
   Three Months Ended
March 31,
 
   2024   2023 
   (Unaudited) 
Operating lease expenses  $98,502   $94,299 
Other information related to leases is presented below:
   Three months Ended
March 31,
 
   2024   2023 
   (Unaudited) 
Cash paid for amounts included in the measurement of operating lease liabilities  $98,502   $94,299 
   March 31,
2024
   December 31,
2023
 
Weighted Average Remaining Lease Term:        
Operating leases   1.42 years    1.73  years 
           
Weighted Average Discount Rate:          
Operating leases   1.46%   1.5%
The following provides details of the Company’s lease expenses:
   Year Ended
December 31,
 
   2023   2022 
Operating lease expenses  $358,576   $358,576 
   Year Ended
December 31,
 
   2023   2022 
Cash paid for amounts included in the measurement of operating lease liabilities  $385,659   $358,576 
           
   December 31,
2023
   December 31,
2022
 
Weighted Average Remaining Lease Term:        
Operating leases   1.73 years    2.48 years 
           
Weighted Average Discount Rate:          
Operating leases   1.5%   1.49%
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
 
2024 (excluding three months ended March 31, 2024)  $303,008 
2025   350,809 
2026   56,916 
Thereafter   
-
 
Total future minimum lease payments, undiscounted   710,733 
Less: Imputed interest   (2,711)
Present value of future minimum lease payments  $708,022 
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 
2024  $404,745 
2025   351,352 
2026   56,916 
2027   
-
 
Thereafter   
-
 
Total future minimum lease payments, undiscounted   813,013 
Less: Imputed interest   (3,730)
Present value of future minimum lease payments  $809,283