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Operating Leases (Tables) | 6 Months Ended
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Jun. 30, 2024
Operating Leases [Abstract] |
Schedule of Lease Costs and Other Lease Information | Variable lease cost primarily represents variable payments such as real estate taxes and common area maintenance. The following tables describe our lease costs and other lease information:
|  | During the Three-Month Periods Ended June 30, |  |  | During the Six-Month Periods Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Lease Cost |  |  |  |  |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 106,880 |  |  | $ | 98,714 |  |  | $ | 213,759 |  |  | $ | 146,240 |
Variable lease cost |  |  | 19,431 |  |  |  | 9,720 |  |  |  | 29,151 |  |  |  | 17,334 |
Total lease cost |  | $ | 126,311 |  |  | $ | 108,434 |  |  | $ | 242,910 |  |  | $ | 163,574 |
Operating Lease |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash paid for operating lease liabilities |  | $ | 144,315 |  |  | $ | 30,993 |  |  | $ | 288,630 |  |  | $ | 61,734 |
Weighted average remaining lease term (in years) |  |  | 18.6 |  |  |  | 19.6 |  |  |  | 18.6 |  |  |  | 19.6 |
Weighted average discount rate |  |  | 7.1 | % |  |  | 6.3 | % |  |  | 7.1 | % |  |  | 6.3 | %
Schedule of Future Lease Payments Required Under Non-Cancelable Operating Leases | Future lease payments required under non-cancelable operating leases in effect as of June 30, 2024 were as follows:
|  | Amount |
During the six-month period ending December 31, 2024 |  | $ | 288,630 |
During the years ending December 31, |  |  |  |
2025 |  |  | 711,623 |
2026 |  |  | 349,744 |
2027 |  |  | 356,732 |
2028 |  |  | 363,870 |
Thereafter |  |  | 5,949,488 |
Total lease payments (undiscounted cash flows) |  |  | 8,020,087 |
Less: imputed interest (discount effect of cash flows) |  |  | (3,442,126 | )
Total operating liabilities |  | $ | 4,577,961 |

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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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