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LEASES | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2025 | Dec. 31, 2024
Leases |  |
LEASES | NOTE 16 – LEASES The Company is party to two leases: (i) office space in Centerville, Utah (the “Centerville Lease”) and (ii) a warehouse in North Salt Lake City, Utah (the “SLC Lease”). The Centerville lease is scheduled to expire in May 2028 and the SLC Lease is scheduled to expire in November 2025. The Company has operating leases for its corporate headquarters and warehouse. The Company determines if an arrangement contains a lease at inception based on the ability to control a physically distinct asset. Operating lease right-of-use assets are recorded in the consolidated balance sheets on the initial measurement of the lease liability as adjusted to include prepaid rent and initial direct costs less any lease incentives received. Lease liabilities are measured at the commencement date based on the present value of the lease payments over the lease term. The Company separately accounts for lease and non-lease components within lease agreements. The Company uses its incremental borrowing rate to present value the lease liability as key inputs to determine the interest rate implicit in the lease are not shared by lessors. Operating lease expense is recorded on a straight-line basis over the lease term. Right-of-use assets and lease liabilities for short-term leases are not recognized in the consolidated balance sheets. Payments for short-term leases are recognized in the consolidated statements of operations on a straight-line basis over the lease term. When measuring lease liabilities for leases that were classified as operating leases, the Company discounted lease payments using its estimated incremental borrowing rate at lease inception point. The weighted average incremental borrowing rate applied was 8.39%. As of March 31, 2025, the Company’s leases had a remaining weighted average term of 2.15 years. The following table presents net lease cost and other supplemental lease information: SCHEDULE OF LEASE COST AND SUPPLEMENTAL LEASE INFORMATION
|  | March 31, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Lease cost |  |  |  |  |  |  |  |
Operating lease cost (cost resulting from lease payments) |  | $ | 107,336 |  |  | $ | 403,109 |
Net lease costs |  | $ | 107,336 |  |  | $ | 403,109 |
Operating lease - operating cash flows (fixed payments) |  | $ | 107,336 |  |  | $ | 403,109 |
Operating lease - operating cash flows (liability reduction) |  | $ | 93,865 |  |  | $ | 334,254 |
Non-current leases - right-of-use assets |  | $ | 545,915 |  |  | $ | 634,269 |
Current liabilities - operating lease liabilities |  | $ | 296,291 |  |  | $ | 363,102 |
Non-current liabilities - operating lease liabilities |  | $ | 278,071 |  |  | $ | 305,125 |
Future minimum payments under non-cancelable leases for operating leases for the remaining terms of the leases following the three months ended March 31, 2025, are as follows: SCHEDULE OF FUTURE MINIMUM PAYMENTS UNDER OPERATING LEASES
Fiscal Year |  | Operating Leases |
Remainder |  |  |  |
2025 |  | $ | 299,654 |
2026 |  |  | 140,163 |
2027 |  |  | 144,227 |
2028 |  |  | 60,809 |
Total future minimum lease payments |  | $ | 644,853 |
Amount representing interest |  |  | (70,491 | )
Present value of net future minimum lease payments |  | $ | 574,362 |
| NOTE 20 – LEASES The Company is party to two leases: (i) office space in Centerville, Utah (the “Centerville Lease”) and (ii) a warehouse in North Salt Lake City, Utah (the “SLC Lease”). The Centerville lease is scheduled to expire in May 2028 and the SLC Lease is scheduled to expire in November 2025. The Company has operating leases for its corporate headquarters and warehouse. The Company determines if an arrangement contains a lease at inception based on the ability to control a physically distinct asset. Operating lease right-of-use assets are recorded in the consolidated balance sheets on the initial measurement of the lease liability as adjusted to include prepaid rent and initial direct costs less any lease incentives received. Lease liabilities are measured at the commencement date based on the present value of the lease payments over the lease term. The Company separately accounts for lease and non-lease components within lease agreements. The Company uses its incremental borrowing rate to present value the lease liability as key inputs to determine the interest rate implicit in the lease are not shared by lessors. Operating lease expense is recorded on a straight-line basis over the lease term. Right-of-use assets and lease liabilities for short-term leases are not recognized in the consolidated balance sheets. Payments for short-term leases are recognized in the consolidated statements of operations on a straight-line basis over the lease term. When measuring lease liabilities for leases that were classified as operating leases, the Company discounted lease payments using its estimated incremental borrowing rate at lease inception point. The weighted average incremental borrowing rate applied was 8.39%. As of December 31, 2024, the Company’s leases had a remaining weighted average term of 2.39 years. The following table presents net lease cost and other supplemental lease information: SCHEDULE OF LEASE COST AND SUPPLEMENTAL LEASE INFORMATION
|  | 2024 |  |  | 2023 |
Lease cost |  |  |  |  |  |  |  |
Operating lease cost (cost resulting from lease payments) |  | $ | 403,109 |  |  | $ | 322,102 |
Net lease costs |  | $ | 403,109 |  |  | $ | 322,102 |
Operating lease - operating cash flows (fixed payments) |  | $ | 403,109 |  |  | $ | 322,102 |
Operating lease - operating cash flows (liability reduction) |  | $ | 334,254 |  |  | $ | 254,945 |
Non-current leases - right-of-use assets |  | $ | 634,269 |  |  | $ | 972,663 |
Current liabilities - operating lease liabilities |  | $ | 363,102 |  |  | $ | 334,255 |
Non-current liabilities - operating lease liabilities |  | $ | 305,125 |  |  | $ | 668,228 |
Future minimum payments under non-cancelable leases for operating leases for the remaining terms of the leases following the year ended December 31, 2024, are as follows: SCHEDULE OF FUTURE MINIMUM PAYMENTS UNDER OPERATING LEASES
Fiscal Year |  | Operating Leases |
Remainder |  |  |  |
2025 |  | $ | 406,990 |
2026 |  |  | 140,163 |
2027 |  |  | 144,227 |
2028 |  |  | 60,808 |
Total future minimum lease payments |  | $ | 752,188 |
Amount representing interest |  |  | (83,961 | )
Present value of net future minimum lease payments |  | $ | 668,227 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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