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Leases (Tables)

6 Months Ended

Jun. 30, 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:

		For the three-months ended June 30,								For the six-months ended June 30,
		2024				2023				2024				2023
Operating lease charges (1)		$	393,314			$	404,778			$	791,208			$	811,991
Finance lease charges:
Amortization of right-of-use assets		$	39,695			$	8,143			$	47,838			$	16,287
Interest on lease obligations		$	10,191			$	1,310			$	11,698			$	4,021

(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 June 30, 2024:

		Operating leases				Finance leases
Remainder of 2024		$	898,516			$	206,588
2025			1,728,559				413,176
2026			1,601,064				216,266
2027			1,108,025				-
Total undiscounted lease obligations			5,336,164				836,030
Less inputed interest			(1,012,995	)			(107,357	)
Total present value of lease liabilities			4,323,169				728,673
Less current portion of lease liabilities			1,319,040				335,513
Non-current lease liabilities		$	3,004,129			$	393,160

Schedule of Other Lease Information

Other lease information as of June 30, 2024:

		Operating leases				Finance leases
Operating cash out flows from leases		$	629,341			$	123,478
Weighted-average remaining lease term (years)			3.04				1.84
Weighted-average discount rate (%)			8.6	%			13.4	%

X

- 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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X

- 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

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- Definition

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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