Commitments and contingencies (Tables)

9 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Lease Payments

Future minimum lease payments as September 30, 2023
2023	$	23,344
2024		19,706
Total minimum lease payments	$	43,050

Schedule of Operating Leases

Supplemental balance sheet information related to leases is as follows:

September 30, 2023

Operating Leases	Classification	September 30, 2023
Right-of-use assets	Operating right of use assets	$	621,300
Total		$	621,300
Current lease liabilities	Current operating lease liabilities	$	156,498
Non-current lease liabilities	Long-term operating lease liabilities	$	494,215
Total		$	650,713

December 31, 2022

Operating Leases	Classification	December 31, 2022
Right-of-use assets	Operating right of use assets	$	408,616
Total		$	408,616
Current lease liabilities	Current operating lease liabilities	$	112,250
Non-current lease liabilities	Long-term operating lease liabilities	$	328,116
Total		$	440,366

 

Summary of Operating Lease Liabilities

Lease term and discount rate were as follows:

	September 30, 2023
Weighted average remaining lease term (years)		45.50
Weighted average discount rate		12	%

 

Lease term and discount rate were as follows:

	December 31, 2022
Weighted average remaining lease term (years)		2.50
Weighted average discount rate		12	%

 

Summary of Lease Expenses

 The following summarizes lease expenses for the nine months ended September 30, 2023:

Finance lease expenses:

Depreciation/amortization expense	$	99,978
Interest on lease liabilities		48,010
Finance lease expense	$	147,988

The following summarizes lease expenses for the year ended December 31, 2022:

Finance lease expenses:

Depreciation/amortization expense	$	121,095
Interest on lease liabilities		6,673
Finance lease expense	$	127,768

 

Schedule of Cash Flow Information Related to Lease

Supplemental disclosures of cash flow information related to leases were as follows:

	September 2023
Cash paid for operating lease liabilities	$	102,085

 

Supplemental disclosures of cash flow information related to leases were as follows:

	December 31, 2022
Cash paid for operating lease liabilities	$	125,266

 

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities were as follows as of September 30, 2023:

	Operating Leases
2023	$	54,153
2024	$	218,833
2025	$	224,230
2026	$	193,112
2027	$	88,179
2028	$	39,197
Total	$	817,704
Less: Imputed interest	$	(166,991	)
Present value of lease liabilities	$	650,713