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LEASES

3 Months Ended

Mar. 31, 2025

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