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LEASES | 12 Months Ended
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Dec. 31, 2024
LEASES |
LEASES | 6. LEASES The Company has operating leases that primarily relate to operating facilities in both the United States and Germany. The Company leases its operating facilities under operating lease arrangements with varying expiration dates through March 2037. As of December 31, 2024, the remaining lease term of the Company’s operating leases ranges from six to twelve years. ​ Supplemental statement of operations and cash flows related to operating leases is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2024 |  | 2023
Cash paid in connection with operating leases | ​ | $ | 1,683,461 | ​ | $ | 2,403,025
Operating lease expense | ​ | $ | 2,234,616 | ​ | $ | 1,802,490
​ Supplemental balance sheet information related to operating leases is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |
​ |  | 2024 |  | 2023 | ​
Right-of-use asset | ​ | $ | 11,511,236 | ​ | $ | 12,058,896 | ​
Lease liability – current portion | ​ | $ | 452,688 | ​ | ​ | 373,636 | ​
Lease liability – net of current portion | ​ |  | 12,443,971 | ​ | ​ | 12,896,659 | ​
Total lease liability | ​ | $ | 12,896,659 | ​ | $ | 13,270,295 | ​
Weighted average discount rate | ​ | ​ | 9.8 | % | ​ | 9.8 | %
Weighted average remaining lease term | ​ | ​ | 11.7 years | ​ | ​ | 12.7 years | ​
​ As of December 31, 2024, the maturities of the lease liabilities are as follows: ​
​ | ​ | ​ | ​
2025 |  | $ | 1,695,676
2026 | ​ |  | 1,735,747
2027 | ​ |  | 1,776,920
2028 | ​ |  | 1,819,224
2029 | ​ |  | 1,862,893
Thereafter | ​ |  | 13,550,383
Future operating lease payments | ​ | ​ | 22,440,843
Imputed interest | ​ | ​ | (9,544,184)
Total lease liability | ​ | $ | 12,896,659
​

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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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