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Leases (Tables)
9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Schedule of Lease Costs
The table below comprises operating lease expenses for the periods ended September 30, 2023 and 2022:
Three Months Ended
September 30,
Nine Months Ended
September 30,
Components of total lease cost:2023202220232022
Operating lease expense$697,050 $626,188 $2,319,282 $1,517,541 
Short-term lease expense452,538 334,619 1,156,886 863,316 
Total lease cost - operating leases$1,149,588 $960,807 $3,476,168 $2,380,857 
The table below presents lease payments for the periods ended September 30, 2023 and 2022:
 Three Months Ended
September 30,
Nine Months Ended
September 30,
Components of total lease cost:2023202220232022
Finance lease payment$782,808 $672,975 $2,293,330 $2,146,857 
Short-term lease payment— — — — 
Total lease payments$782,808 $672,975 $2,293,330 $2,146,857 
Assets And Liabilities, Lessee
Right-of-use assets and lease liabilities for the Company’s operating leases were recorded in the unaudited Condensed Consolidated Balance Sheets as follows:
September 30, 2023December 31, 2022
Assets
Lease right-of-use assets$9,420,525 $9,074,277 
Total lease assets$9,420,525 $9,074,277 
Liabilities  
Current liabilities:  
Lease liability - current portion$2,561,165 $2,325,024 
Noncurrent liabilities:  
Lease liability, net of current portion7,196,596 7,040,982 
Total lease liability$9,757,761 $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 September 30, 2023:
Weighted average remaining lease term (in years) - operating leases4.36
Weighted average discount rate - operating leases5.76 %
Right-of-use assets and lease liabilities for the Company’s finance leases were recorded in the unaudited Condensed Consolidated Balance Sheets as follows:
September 30,
2023
December 31,
2022
Assets
Lease right-of-use assets$8,566,308 $9,039,663 
Total lease assets$8,566,308 $9,039,663 
Liabilities
Current liabilities:
Lease liability - current portion$2,733,332 $2,732,639 
Noncurrent liabilities:  
Lease liability, net of current portion5,930,776 5,914,164 
Total lease liability$8,664,108 $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 September 30, 2023:
Weighted average remaining lease term (in years) - finance leases3.58
Weighted average discount rate - finance leases5.96 %
Schedule of future minimum lease payments under the operating leases
Future minimum lease payments under the operating leases as of September 30, 2023 are as follows:
Operating
Leases
2023, remaining$813,120 
20242,987,762 
20252,982,487 
20262,183,265 
20271,090,802 
Thereafter862,023 
Total future minimum lease payments10,919,459 
Less effects of discounting(1,161,698)
Present value of future minimum lease payments$9,757,761 
Finance Lease, Liability, Fiscal Year Maturity
Future minimum lease payments under the finance leases as of September 30, 2023 are as follows:
Finance Leases
2023, remaining$867,050 
20243,018,851 
20252,740,288 
20261,969,492 
2027850,883 
Thereafter114,107 
Total future minimum lease payments9,560,671 
Less effects of discounting(896,563)
Present value of future minimum lease payments$8,664,108