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Commitments and Contingencies (Tables) | 3 Months Ended
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Mar. 31, 2024
Commitments and Contingencies |
Schedule of future minimum lease commitments for offices, warehouse facilities and equipment |
For the year ending December 31, |  | Total |
2024 (remainder of) |  | $ | 1,715,941 |
2025 |  |  | 1,725,564 |
2026 |  |  | 1,768,488 |
Thereafter |  |  | - |
Total |  | $ | 5,209,993 |
Schedule of maturities of operating lease liabilities |
For the year ending December 31, |  | Total |
2024 (remainder of) |  | $ | 1,675,305 |
2025 |  |  | 1,725,564 |
2026 |  |  | 1,768,488 |
Thereafter |  |  | - |
Total minimum lease payments |  |  | 5,169,357 |
Less: Interest |  |  | (802,545 | )
Present value of lease obligations |  |  | 4,366,812 |
Less: current portion |  |  | (1,465,296 | )
Noncurrent portion |  | $ | 2,901,516 |
Other information related to leases is as follows: |  |  |  |
|  | As of |
|  | March 31, 2024 |
Weighted average remaining lease term (in years) |  |  | 2.75 |
Weighted average discount rate |  |  | 8.0 | %
Schedule of lease cost |
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
|  | (Unaudited) |
Operating lease cost |  | $ | 454,768 |  |  | $ | 1,056,643 |
Short-term lease cost |  |  | 9,813 |  |  |  | 131,414 |
Less: Sublease income |  |  | (247,944 | ) |  |  | (255,043 | )
Operating lease cost, net |  | $ | 216,637 |  |  | $ | 933,014 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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