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LEASE LIABILITIES-FINANCE AND OPERATING LEASE (Tables)

6 Months Ended

Jun. 30, 2024

Lease Liabilities-finance And Operating Lease

Lease Liabilities - Finance and Operating Lease - Schedule of Finance and Operating Leased Liabilities

The components of finance lease liabilities were as follows:

		Imputed				June 30,				December 31,
		Interest rate				2024				2023
Total finance lease liability			6.7%			$	1,262,536			$	1,485,575
Less: Current portion							(177,313	)			(172,625	)
Finance lease liability, net of current portion						$	1,085,223			$	1,312,950

Interest expenses from capital lease obligations amounted to $24,814 and 27,901 for the three-month period ended June 30, 2024 and 2023, respectively, which were charged to the condensed consolidated statement of income (loss). Interest expenses from capital lease obligations amounted to $49,644 and $56,461 for the six-month period ended June 30, 2024 and 2023, respectively, which were charged to the condensed consolidated statement of income (loss).

The components of operating lease liabilities as follows:

		Imputed				June 30,				December 31,
		Interest rate				2024				2023
Total operating lease liabilities			4.89%			$	7,386,371			$	7,998,908
Less: Current portion							(482,129	)			(473,653	)
Operating lease liabilities, net of current portion						$	6,904,242			$	7,525,255

Lease Liabilities - Finance and Operating Lease - Schedule of Financing and Operating Lease Maturities

Maturities of lease liabilities were as follows:

		Financial lease				Operating Lease
Payable within:
the next 12 months		$	263,381			$	825,392
the next 13 to 24 months			263,381				832,871
the next 25 to 36 months			263,381				837,076
the next 37 to 48 months			263,381				845,054
the next 49 to 60 months			263,381				809,505
thereafter			263,381				8,468,037
Total			1,580,286				12,617,935
Less: Amount representing interest			(317,750	)			(5,231,564	)
Present value of net minimum lease payments		$	1,262,536			$	7,386,371