Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.24.1.u1
Leases (Tables)
 12 Months Ended
Dec. 31, 2023
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,
2023 2022
Fixed lease expense $ 567,380  $ 275,763 
Variable lease expense 195,637  178,032 
Total operating lease expense 763,017  453,795 
Short-term lease expense 58,379  - 
Total lease expense $ 821,396  $ 453,795 
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,
2023 2022
Operating lease right-of-use assets $ 834,972  $ 317,208 
Current portion of operating lease liabilities 244,774  410,158 
Long-term operating lease liabilities 574,260  87,214 
Total operating lease liabilities $ 819,034  $ 497,372 
Schedule of Lease Maturities
The following table presents the Company's maturities of lease liabilities as of December 31, 2023:
Years Ending December 31, Operating
Leases
2024 $ 243,350 
2025 191,506 
2026 186,641 
2027 186,641 
2028 139,168 
2029 onward 325,072 
Total lease payments 1,272,378 
Total present value discount (453,344)
Operating lease liabilities $ 819,034