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Leases (Tables) | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Schedule of Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases is as follows:
|  | Balance Sheet Classification |  | September 30, 2023 |  |  | December 31, 2022 |
Assets |  |  |  |  |  |  |  |
Operating Lease Asset |  | Right of use asset, net |  | $ | 1,276,709 |  |  | $ | 1,395,741 |
Finance Lease Asset |  | Right of use asset, net |  |  | 5,209 |  |  |  | 10,529 |
Total Lease Assets |  |  |  | $ | 1,281,918 |  |  | $ | 1,406,270 |
Liabilities |  |  |  |  |  |  |  |  |  |
Operating Lease Liability – current portion |  | Current Lease Liabilities |  | $ | 229,824 |  |  | $ | 199,535 |
Finance Lease Liability – current portion |  | Current Lease Liabilities |  |  | 6,804 |  |  |  | 8,466 |
Operating Lease Liability – net of current portion |  | Long Term Lease Liabilities |  |  | 1,386,769 |  |  |  | 1,562,022 |
Finance Lease Liability – net of current portion |  | Long Term Lease Liabilities |  |  | - |  |  |  | 4,600 |
Total Lease Liabilities |  |  |  | $ | 1,623,397 |  |  | $ | 1,774,623 |
Schedule of Weighted-Average Discount Rate and Weighted-Average Remaining Lease Term | Below is a summary of the weighted-average discount rate and weighted-average remaining lease term for the Company’s leases:
|  | Weighted Average Discount Rate |  |  | Weighted Average Remaining Lease Term (in years) |
Operating Leases |  |  | 13.03 | % |  |  | 5 |
Finance Leases |  |  | 13.39 | % |  |  | 1 |
Schedule of Supplemental Cash Flow Information Related to Operating Leases | Supplemental cash flow information related to operating leases is as follows:
|  | Nine Months ended |
|  | September 30, |
|  | 2023 |  |  | 2022 |
Cash payments for operating leases |  | $ | 311,137 |  |  | $ | 302,075 |
Cash payments for finance leases |  |  | 7,308 |  |  |  | 8,388 |
Schedule of Undiscounted Operating Lease Liabilities | Below is a summary of undiscounted operating lease liabilities as of September 30, 2023. The table also includes a reconciliation of the future undiscounted cash flows to the present value of the operating lease liabilities included in the consolidated balance sheet.
|  | Operating Leases |
2023 |  | $ | 106,469 |
2024 |  |  | 430,134 |
2025 |  |  | 443,038 |
2026 |  |  | 456,330 |
2027 |  |  | 470,019 |
2028 and thereafter |  |  | 303,573 |
Total undiscounted cash flows |  |  | 2,209,563 |
Less: interest |  |  | (592,970 | )
Present value of lease liabilities |  | $ | 1,616,593 |
Schedule of Undiscounted Finance Lease Liabilities | Below is a summary of undiscounted finance lease liabilities as of September 30, 2023. The table also includes a reconciliation of the future undiscounted cash flows to the present value of the finance lease liabilities included in the consolidated balance sheet.
|  | Finance Leases |
2023 |  | $ | 2,391 |
2024 |  |  | 4,782 |
Total undiscounted cash flows |  |  | 7,173 |
Less: interest |  |  | (369 | )
Present value of lease liabilities |  | $ | 6,804 |

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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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