v3.24.1.1.u2
Leases (Tables)
3 Months Ended
Mar. 31, 2024
Leases  
Schedule of components of lease expense
   
   Three Months Ended March 31, 2024
Finance leases:     
Amortization of assets, included in depreciation and amortization expense  $196,069 
Interest on lease liabilities, included in interest expense   8,855 
Operating lease:     
Amortization of assets, included in total operating expense   27,250 
Interest on lease liabilities, included in total operating expense   515 
Total net lease cost  $232,689 
Supplemental balance sheet information related to leases was as follows:     
      
Operating Leases:     
      
Operating lease right-of-use asset  $36,160 
      
Current operating lease liabilities  $36,733 
Noncurrent operating lease liabilities    
Total operating lease liabilities  $36,733 

 

   March 31, 2024
Finance leases:     
Property and equipment, at cost  $5,521,716 
Accumulated amortization   (4,689,273)
Property and equipment, net  $832,443 
      
Current obligations of finance leases  $370,125 
Finance leases, net of current obligations    
Total finance lease liabilities  $370,125 
Schedule of supplemental cash flow and other information related to leases
   
   Three Months Ended March 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:     
Operating cash flows related to operating leases  $27,250 
Financing cash flows related to finance leases  $167,358 
      
Weighted average remaining lease term (in years):     
Operating leases   0.84 
Finance leases   0.80 
      
Weighted average discount rate:     
Operating leases   4%
Finance leases   7%
Schedule of long term obligations operating and finance leases
      
For the Twelve Months Ended March 31,  Operating
Leases
  Finance
Leases
2024   37,020    381,829 
2025        
Total lease payments   37,020    381,829 
Less: Amounts representing interest   (287)   (11,704)
Total lease obligations   36,733    370,125 
Less: long-term obligations        
 Total current  $36,733   $370,125