Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.24.3
Leases (Tables)
 9 Months Ended
Sep. 30, 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 unaudited condensed consolidated statements of operations:
Three months ended
September 30,		 Nine months ended September 30,
2024 2023 2024 2023
Fixed lease expense $ 129,510  $ 129,822  $ 388,953  $ 382,662 
Variable lease expense 47,353  136,785  261,624  192,547 
Total operating lease expense 176,863  266,607  650,577  575,209 
Short-term lease expense 6,915  -  34,343  - 
Total lease expense $ 183,778  $ 266,607  $ 684,920  $ 575,209 
Schedule of Right-of-Use Assets and Lease Liabilities
The following table presents the balance and classifications of the Company’s right-of-use assets and lease liabilities included in the unaudited condensed balance sheets:
September 30,
2024		 December 31,
2023
Operating lease right-of-use assets $ 1,283,982  $ 834,972 
Current portion of operating lease liabilities 433,820  244,774 
Long-term operating lease liabilities 921,698  574,260 
Total operating lease liabilities $ 1,355,518  $ 819,034 
Schedule of Lease Maturities
The following table presents the Company’s maturities of lease liabilities as of September 30, 2024:
2024 (excluding the nine months ended September 30, 2024) $ 134,162 
2025 541,988 
2026 552,142 
2027 284,946 
2028 35,229 
Total lease payments 1,548,467 
Total present value discount (192,949)
Operating lease liabilities $ 1,355,518