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v3.25.1

Leases (Tables) | 3 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
Schedule of lease costs | Supplemental unaudited condensed consolidated balance sheet information related to leases is as follows:
|  | Classification |  | March 31, 2025 |  | December 31, 2024
Operating lease assets |  | Right-of-use operating lease assets |  | $ | 4,359,362 |  |  | 4,493,360 |
Finance lease assets |  | Property, plant and equipment, net |  | 2,771 |  |  | 6,890 |
Total lease assets |  |  |  | $ | 4,362,133 |  |  | $ | 4,500,250 |
Operating lease liabilities - current |  | Operating lease liabilities - current |  | $ | 931,128 |  |  | 914,800 |
Operating lease liabilities - noncurrent |  | Operating lease liabilities - noncurrent |  | 4,109,738 |  |  | 4,254,173 |
Finance lease liabilities - current |  | Other liabilities - current |  | 7,235 |  |  | 6,969 |
Finance lease liabilities - noncurrent |  | Other long-term liabilities |  | — |  |  | 1,519 |
Total lease liabilities |  |  |  | $ | 5,048,101 |  |  | $ | 5,177,461 |
The components of lease expense are as follows:
|  |  |  | Three Months Ended March 31, |  | Three Months Ended March 31, |  |  |  |
|  | Classification |  | 2025 |  | 2024 |  |  |  |
Operating lease expense |  | Selling, general and administrative |  | $ | 233,986 |  |  | $ | 228,633 |  |  |  |  |
Finance lease expense: |  |  |  |  |  |  |  |  |  |
Amortization of finance lease assets |  | Selling, general and administrative |  | 1,406 |  |  | 1,472 |  |  |  |  |
Interest on finance lease liabilities |  | Interest (expense) income, net |  | 203 |  |  | 361 |  |  |  |  |
Total lease expense |  |  |  | $ | 235,595 |  |  | $ | 230,466 |  |  |  |  |
Lease term and discount rate:
|  | March 31, 2025 |  | December 31, 2024
Weighted-average remaining lease terms (in years): |  |  |  |
Operating lease |  | 6.5 |  | 6.7
Finance lease |  | 1.0 |  | 1.3
Weighted-average discount rate: |  |  |  |
Operating lease |  | 7.8% |  | 7.8%
Finance lease |  | 7.8% |  | 7.8%
Other Information:
|  |  |  | Three Months Ended March 31, |  | Three Months Ended March 31,
|  |  |  | 2025 |  | 2024
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows - operating leases |  |  |  | $ | 111,059 |  |  | $ | 126,178 |
Operating cash flows - finance leases |  |  |  | $ | — |  |  | $ | 1,805 |
Financing cash flows - finance leases |  |  |  | $ | 2,855 |  |  | $ | 2,888 |
Leased assets obtained in exchange for new finance lease liabilities |  |  |  | $ | 5,723 |  |  | $ | 11,423 |
Leased assets obtained in exchange for new operating lease liabilities |  |  |  | $ | — |  |  | $ | — |
Schedule of lessee, operating lease, liability, maturity |
|  | Operating Lease |  | Finance Lease
Maturities of lease liabilities are as follows: |  | March 31, 2025 |  | March 31, 2025
2025 |  | $ | 725,880 |  |  | $ | 5,843 |
2026 |  | 981,717 |  |  | 1,805 |
2027 |  | 987,955 |  |  | — |
2028 |  | 937,727 |  |  | — |
2029 |  | 925,564 |  |  | — |
Thereafter |  | 1,935,262 |  |  | — |
Total lease payments |  | 6,494,105 |  |  | 7,648 |
Less: interest |  | (1,453,239) |  |  | (413) |
Total lease obligations |  | $ | 5,040,866 |  |  | $ | 7,235 |
Schedule of finance lease, liability, maturity |
|  | Operating Lease |  | Finance Lease
Maturities of lease liabilities are as follows: |  | March 31, 2025 |  | March 31, 2025
2025 |  | $ | 725,880 |  |  | $ | 5,843 |
2026 |  | 981,717 |  |  | 1,805 |
2027 |  | 987,955 |  |  | — |
2028 |  | 937,727 |  |  | — |
2029 |  | 925,564 |  |  | — |
Thereafter |  | 1,935,262 |  |  | — |
Total lease payments |  | 6,494,105 |  |  | 7,648 |
Less: interest |  | (1,453,239) |  |  | (413) |
Total lease obligations |  | $ | 5,040,866 |  |  | $ | 7,235 |
Schedule of sublease income | Sublease income are as follows:
|  |  |  | Three Months Ended March 31, |  | Three Months Ended March 31, |  |  |  |
|  | Classification |  | 2025 |  | 2024 |  |  |  |
Sublease lease income |  | Other, net |  | $ | 104,942 |  |  | $ | 100,802 |  |  |  |  |
Schedule of lease income | Lease income are as follows:
|  |  |  |  | Three Months Ended March 31, |  | Three Months Ended March 31, |  |  |  |
|  | Classification |  |  | 2025 |  | 2024 |  |  |  |
Lease income |  | Products and services |  |  | $ | 827 |  |  | $ | 1,138 |  |  |  |  |
Interest income |  | Products and services |  |  | 3,931 |  |  | 4,115 |  |  |  |  |
Total lease income |  |  |  |  | $ | 4,758 |  |  | $ | 5,253 |  |  |  |  |

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- 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 + Details
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