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Leases (Tables)

3 Months Ended

Mar. 31, 2024

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:

		March 31,
		2024				2023
Operating lease charges (1)		$	397,894			$	407,212
Finance lease charges:
Amortization of right-of-use assets			8,143				8,143
Interest on lease obligations			1,507				2,080

(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 March 31, 2024:

		Operating leases				Finance leases
2024		$	920,838			$	28,633
2025			325,554				38,176
2026			155,969				15,016
Total undiscounted lease obligations			1,402,361				81,825
Less: imputed interest			(103,559	)			(6,638	)
Total present value of lease liabilities			1,298,802				75,187
Less: current portion of lease liabilities			888,637				33,677
Non-current lease liabilities		$	410,165			$	41,510

Schedule of Other Lease Information

Other lease information as of and for the period ended March 31, 2024:

		Operating leases				Finance leases
Operating cash out flows from leases		$	258,879			$	9,544
Weighted-average remaining lease term (years)			1.48				2.15
Weighted-average discount rate (%)			10.00	%			7.50	%

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- References

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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

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

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