Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

v3.25.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Operating Lease Expense
The following table presents the Company’s lease costs which are included in general and administrative expenses in the consolidated statements of operations:
Years ended December 31,
2024 2023
Fixed lease expense $ 518,462  $ 567,380 
Variable lease expense 311,719  195,637 
Total operating lease expense 830,181  763,017 
Short-term lease expense 41,258  58,379 
Total lease expense $ 871,439  $ 821,396 
Schedule of Right-of-Use Assets and Lease Liabilities
The following table presents the balances of the Company’s right-of-use assets and lease liabilities included in the consolidated balance sheets:
Years ended December 31,
2024 2023
Operating lease right-of-use assets, net $ 1,094,743  $ 834,972 
Current portion of operating lease liabilities 435,307  244,774 
Long-term operating lease liabilities 768,939  574,260 
Total operating lease liabilities $ 1,204,246  $ 819,034 
Schedule of Lease Maturities
The following table presents the Company's maturities of lease liabilities as of December 31, 2024:
Years Ending December 31, Operating
Leases
2025 $ 525,114 
2026 535,268 
2027 268,072 
2028 25,385 
2029 - 
2030 onward - 
Total lease payments 1,353,839 
Total present value discount (149,593)
Operating lease liabilities $ 1,204,246