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v3.25.1

LEASES | 3 Months Ended
--- | ---
Mar. 31, 2025
LEASES |
LEASES |
| 8. | 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 March 31, 2025, 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 the operating lease liability is as follows (excluding variable payments and expenses): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31,
​ |  | 2025 |  | 2024
Cash paid in connection with the operating leases | ​ | $ | 544,664 | ​ | $ | 411,749
Operating lease expense | ​ | $ | 461,541 | ​ | $ | 457,676
​ Supplemental balance sheet information related to operating leases is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31, | ​
​ |  | 2025 |  | 2024 | ​
Right-of-use asset | ​ | $ | 11,368,340 | ​ | $ | 11,511,236 | ​
Lease liability - current portion | ​ | $ | 473,889 | ​ | ​ | 452,688 | ​
Lease liability - net of current portion | ​ | ​ | 12,316,119 | ​ | ​ | 12,443,971 | ​
Total lease liability | ​ | $ | 12,790,008 | ​ | $ | 12,896,659 | ​
Weighted average discount rate | ​ |  | 9.8 | % | ​ | 9.8 | %
Weighted average remaining lease term | ​ | ​ | 11.4 years | ​ | ​ | 11.7 years | ​
​ As of March 31, 2025, the maturities of the operating lease liability are as follows:
​ | ​ | ​ | ​
2025 (since April 1, 2025) |  | $ | 1,274,244
2026 | ​ |  | 1,735,747
2027 | ​ |  | 1,776,920
2028 | ​ |  | 1,819,224
2029 | ​ |  | 1,862,693
Thereafter | ​ |  | 13,550,383
Future operating lease payments | ​ | ​ | 22,019,211
Imputed interest | ​ | ​ | (9,229,203)
Total operating lease liability | ​ | $ | 12,790,008
​

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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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