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LEASES (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Assets And Liabilities, Lessee | Supplemental balance sheet information related to leases is as follows:
| Balance Sheet Classification |  | September 30, 2024 |  | December 31, 2023
Assets |  |  |  |  |
Operating Lease Asset | Right of use asset, net |  | $ | 1,093,551 |  |  | $ | 1,233,538 |
Finance Lease Asset | Right of use asset, net |  | - |  |  | 3,472 |
Total Lease Assets |  |  | $ | 1,093,551 |  |  | $ | 1,237,010 |
Liabilities |  |  |  |  |
Operating Lease Liability – current portion | Current Lease Liabilities |  | $ | 275,029 |  |  | $ | 240,444 |
Finance Lease Liability – current portion | Current Lease Liabilities |  | — |  |  | 4,608 |
Operating Lease Liability – net of current portion | Long Term Lease Liabilities |  | 1,111,740 |  |  | 1,321,578 |
Total Lease Liabilities |  |  | $ | 1,386,769 |  |  | $ | 1,566,630 |
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 | % |  | 4.0
Finance Leases | 13.39 | % |  | 0
Supplemental cash flow information related to operating leases is as follows:
| Nine Months Ended September 30,
| 2024 |  | 2023
Cash payments for operating leases | $ | 320,471 |  |  | $ | 311,137 |
Cash payments for finance leases | 4,782 |  |  | 7,308 |
Schedule of Undiscounted Operating Lease Liabilities | Below is a summary of undiscounted operating lease liabilities as of September 30, 2024. The table also includes a reconciliation of the future undiscounted cash flows to the present value of the operating lease liabilities included in the condensed consolidated balance sheet.
| Operating Leases
2024 | $ | 109,663 |
2025 | 443,038 |
2026 | 456,330 |
2027 | 470,019 |
2028 and thereafter | 303,574 |
Total undiscounted cash flows | 1,782,624 |
Less: interest | (395,855) |
Present value of lease liabilities | $ | 1,386,768 |

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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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