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Leases (Tables)
9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Schedule of Lease Costs Recognized In the Consolidated Condensed Statements of Operations The Company’s lease costs recognized in the Consolidated Condensed Statements of Operations consist of the following:
   For the three months ended
September 30,
   For the nine months ended
September 30,
 
   2023   2022   2023   2022 
Operating lease charges (1)  $448,449   $438,444   $1,260,440   $1,239,614 
Finance lease charges:                    
Amortization of right-of-use assets  $8,143   $8,143   $24,430   $20,519 
Interest on lease obligations  $1,799   $2,351   $5,820   $6,290 
(1)Included in selling, general and administrative expenses.

 

Schedule of Lease Liabilities by Contractual Maturity The following is a schedule of the Company’s lease liabilities by contractual maturity as of September 30, 2023:
   Operating
leases
   Finance
leases
 
         

Remainder of 2023

  $499,282   $9,544 
2024   1,552,313    38,176 
2025   599,356    38,176 
2026   443,183    15,016 
2027   72,652    
-
 
Total undiscounted lease obligations   3,166,786    100,912 
Less imputed interest   (312,221)   (9,799)
Total present value of lease liabilities   2,854,565    91,113 
Less current portion of lease liabilities   1,762,488    32,453 
Non-current lease liabilities  $1,092,077   $58,660 
Schedule of Other Lease Information Other lease information as of September 30, 2023:
   Operating
leases
   Finance
leases
 
         
Operating cash out flows from leases  $1,073,837   $28,632 
Weighted-average remaining lease term (years)   2.21    2.64 
Weighted-average discount rate (%)   8.9%   7.5%