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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
SCHEDULE OF COMPONENTS OF LEASE EXPENSE | The components of lease expense, which are included in selling, general and administrative expense and depreciation and amortization for the year ended December 31, 2023, and 2022 are as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE
Components of lease expense: |  | 2023 |  |  | 2022 |
Amortization of right-of-use assets - finance lease |  | $ | 128,324 |  |  | $ | — |
Interest on lease liabilities - finance lease |  |  | 33,838 |  |  |  | — |
Operating lease cost |  |  | 39,887 |  |  |  | — |
Total lease cost |  | $ | 202,049 |  |  | $ | — |
SCHEDULE OF BALANCE SHEET INFORMATION RELATING TO LEASES | SCHEDULE OF BALANCE SHEET INFORMATION RELATING TO LEASES
Operating leases: |  | 2023 |  |  | 2022 |
Operating lease right-of-use, assets |  | $ | 370,312 |  |  | $ | — |
Operating lease liability, current |  |  | 94,708 |  |  |  | — |
Operating lease liability, non-current |  |  | 283,001 |  |  |  | — |
Total operating lease liabilities |  | $ | 377,709 |  |  | $ | — |
Financing leases: |  | 2023 |  |  | 2022 |
Financing lease right-of-use assets, gross |  | $ | 1,294,168 |  |  | $ | — |
Accumulated amortization |  |  | (128,324 | ) |  |  |  |
Finance lease right-of-use assets, net |  | $ | 1,165,844 |  |  | $ | — |
Financing lease liability, current |  |  | 365,463 |  |  |  | — |
Financing lease liability, non-current |  |  | 835,467 |  |  |  | — |
Financing lease liability, long-term |  | $ | 1,200,930 |  |  | $ | — |
Weighted-average remaining lease term: |  | 2023 |  |  | 2022 |
Operating leases (in years) |  |  | 3.58 |  |  |  | — |
Finance leases (in years) |  |  | 3.25 |  |  |  | — |
Weighted-average discount rate: |  | 2023 |  |  | 2022 |
Operating leases |  |  | 8.07 | % |  |  | — |
Finance leases |  |  | 8.01 | % |  |  | — |
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENT UNDER NON-CANCELLABLE | SCHEDULE OF FUTURE MINIMUM LEASE PAYMENT UNDER NON-CANCELLABLE
|  | Operating Leases |  |  | Finance Leases |
2024 |  | $ | 121,726 |  |  | $ | 448,505 |
2025 |  |  | 121,726 |  |  |  | 448,505 |
2026 |  |  | 121,726 |  |  |  | 270,395 |
2027 and thereafter |  |  | 71,007 |  |  |  | 202,970 |
Total undiscounted cash flows |  |  | 436,185 |  |  |  | 1,370,375 |
Less discounting |  |  | (58,476 | ) |  |  | (169,445 | )
Present value of lease liabilities |  | $ | 377,709 |  |  | $ | 1,200,930 |

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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 + Details
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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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- Definition Tabular disclosure of long-lived, depreciable assets that are subject to a lease meeting the criteria for capitalization and are used in the normal conduct of business to produce goods and services. Examples may include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 840 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481161/840-30-50-1 + Details
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