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Leases (Tables)
6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Schedule of Lease Costs
The table below comprise lease expenses for the periods ended June 30, 2023 and 2022:
Three Months Ended
June 30,
Six Months Ended
June 30,
Components of total lease cost:2023202220232022
Operating lease expense$865,987 $428,728 $1,622,232 $891,353 
Short-term lease expense368,030 273,601 704,348 528,697 
Total lease cost$1,234,017 $702,329 $2,326,580 $1,420,050 
The table below presents lease payments for the periods ended June 30, 2023 and 2022:
 Three Months Ended
June 30,
Six Months Ended
June 30,
Components of total lease payment:2023202220232022
Finance lease payment$766,492 $851,307 $1,510,522 $1,473,882 
Short-term lease payment— — — — 
Total lease payments$766,492 $851,307 $1,510,522 $1,473,882 
Assets And Liabilities, Lessee
Right-of-use lease assets and lease liabilities for the Company’s operating leases were recorded in the unaudited Condensed Consolidated Balance Sheets as follows:
June 30, 2023December 31, 2022
Assets
Lease right-of-use assets$9,288,582 $9,074,277 
Total lease assets$9,288,582 $9,074,277 
Liabilities  
Current liabilities:  
Lease liability - current portion$2,479,340 $2,325,024 
Noncurrent liabilities:  
Lease liability, net of current portion7,162,046 7,040,982 
Total lease liability$9,641,386 $9,366,006 
Lease Terms and Discount Rate
The table below presents certain information related to the weighted average remaining lease term and the weighted average discount rate for the Company’s finance leases as of June 30, 2023:
Weighted average remaining lease term (in years) - operating leases4.53
Weighted average discount rate - operating leases5.81 %
Right-of-use lease assets and lease liabilities for the Company’s finance leases were recorded in the unaudited Condensed Consolidated Balance Sheets as follows:
June 30,
2023
December 31,
2022
Assets
Lease right-of-use assets$8,963,759 $9,039,663 
Total lease assets$8,963,759 $9,039,663 
Liabilities
Current liabilities:
Lease liability - current portion$2,717,546 $2,732,639 
Noncurrent liabilities:  
Lease liability, net of current portion5,926,286 5,914,164 
Total lease liability$8,643,832 $8,646,803 
Lease Terms and Discount Rate
The table below presents certain information related to the weighted average remaining lease term and the weighted average discount rate for the Company’s finance leases as of June 30, 2023:
Weighted average remaining lease term (in years) - finance leases3.57
Weighted average discount rate - finance leases5.95 %
Schedule of future minimum lease payments under the operating leases
Future minimum lease payments under the operating leases at June 30, 2023 are as follows:
Operating
Leases
2023, remaining$1,543,710 
20242,769,206 
20252,751,071 
20261,997,054 
20271,770,143 
Total future minimum lease payments10,831,184 
Less effects of discounting(1,189,798)
Present value of future minimum lease payments$9,641,386 
Finance Lease, Liability, Fiscal Year Maturity
Future minimum lease payments under the finance leases at June 30, 2023 are as follows:
Finance Leases
2023, remaining$1,695,729 
20242,840,410 
20252,561,843 
20261,779,618 
2027664,614 
Total future minimum lease payments9,542,214 
Less effects of discounting(898,382)
Present value of future minimum lease payments$8,643,832