Commitments and contingencies (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
Commitments and Contingencies Disclosure [Abstract] |
|
Schedule of Future Minimum Lease Payments |
Schedule of Future Minimum Lease Payments
Future minimum lease payments as of December 31, 2023 | |
| |
| |
| |
2024 | |
$ | 215,880.12 | |
2025 | |
$ | 218,431.80 | |
2026 | |
$ | 197,584.66 | |
2027 | |
$ | 85,693.92 | |
2028 | |
$ | 36,148.80 | |
Thereafter | |
| - | |
Total minimum lease payments | |
$ | 753,739.30 | |
|
Schedule of Operating Leases |
Supplemental
balance sheet information related to leases is as follows:
December
31, 2023
Schedule of Operating Leases
Operating Leases | |
Classification | |
December 31,
2023 | |
Right-of-use assets | |
Operating right of use assets | |
$ | 586,620 | |
Total | |
| |
$ | 586,620 | |
Current lease liabilities | |
Current operating lease liabilities | |
$ | 121,519 | |
Non-current lease liabilities | |
Long-term operating lease liabilities | |
$ | 494,215 | |
Total | |
| |
$ | 615,734 | |
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:
Summary of Operating Lease Liabilities
| |
December 31,
2023 | |
Weighted average remaining lease term (years) | |
| 42.50 | |
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 year ended December 31, 2023:
Finance
lease expenses:
Summary of Lease Expenses
| |
| | |
Depreciation/amortization expense | |
$ | 134,428 | |
Interest on lease liabilities | |
| 67,184 | |
Finance lease expense | |
$ | 201,612 | |
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:
Schedule of Cash Flow Information Related to Lease
| |
December 31,
2023 | |
Cash paid for operating lease liabilities | |
$ | 137,064 | |
Operating right of use assets obtained in exchange for operating lease liabilities | |
$ | - | |
Supplemental
disclosures of cash flow information related to leases were as follows:
| |
December 31, 2022 | |
Cash paid for operating lease liabilities | |
$ | 125,266 | |
Operating right of use assets obtained in exchange for operating lease liabilities | |
$ | - | |
|
Schedule of Maturities of Lease Liabilities |
Maturities
of lease liabilities were as follows as of December 31, 2023:
Schedule of Maturities of Lease Liabilities
| |
Operating Leases | |
| |
| |
2024 | |
$ | 218,833 | |
2025 | |
$ | 224,230 | |
2026 | |
$ | 193,112 | |
2027 | |
$ | 88,179 | |
2028 | |
$ | 37,197 | |
Total | |
$ | 761,551 | |
Less: Imputed interest | |
$ | (145,817 | ) |
Present value of lease liabilities | |
$ | 615,734 | |
|