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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2024
Commitments and Contingencies [Abstract] |
Operating Right-of-Use Assets and Lease Liabilities | Operating right-of-use assets and lease liabilities consist of the following as of December 31:
|  | 2024 |  |  | 2023 |
Lease right-of-use assets |  | $ | 1,805,543 |  |  |  | 2,380,225 |
Lease liabilities: |  | 2024 |  |  | 2023 |
Lease liabilities – current portion |  | $ | 517,967 |  |  |  | 406,636 |
Lease liabilities – long-term portion |  |  | 1,518,100 |  |  |  | 2,036,067 |
Total |  | $ | 2,036,067 |  |  |  | 2,442,703 |
Lease Cost | Operating lease expenses are included in general and administrative expenses in the Company’s statements of comprehensive loss and are summarized as follows for the years ending December 31:
Lease cost: |  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 619,796 |  |  |  | 469,995 |
Short-term lease cost |  |  | 7,765 |  |  |  | 6,917 |
Variable lease cost |  |  | 148,109 |  |  |  | 78,367 |
Total |  | $ | 775,670 |  |  |  | 555,279 |
Lessee Operating and Financing Lease Liability Maturity | The following table summarizes the Company’s undiscounted cash payment obligations for its operating lease liabilities with initial terms of more than twelve months as of December 31, 2024:
Operating leases: |  |  |
2025 |  | $ | 629,340 |
2026 |  |  | 654,514 |
2027 |  |  | 680,694 |
2028 |  |  | 707,922 |
2029 |  |  | 243,835 |
Total undiscounted lease payments -operating leases |  |  | 2,916,305 |
Less: imputed interest |  |  | (880,238 | )
Lease liability |  |  | 2,036,067 |
Less: current portion of lease liability |  |  | (517,967 | )
Lease liability, less current portion |  | $ | 1,518,100 |

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- Definition Tabular disclosure of undiscounted cash flows of operating and finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating and finance lease liabilities recognized in statement of financial position. + References No definition available. + Details
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- Definition Tabular disclosure of operating leases of right-of-use assets and lease liabilities. + References No definition available. + Details
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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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