Finance and Operating Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2022

Finance And Operating Lease Obligations

Schedule of Lease-related Assets and Liabilities

The following table presents our lease-related assets and liabilities at December 31, 2022 and 2021:

	Balance Sheet Classification	December 31, 2022			December 31, 2021
Assets:
Operating leases	Right-of-use operating lease assets	$	574,256		$	821,274
Finance lease	Property and equipment, net		-			220,461
Total lease assets		$	574,256		$	1,041,735
Liabilities:
Current:
Operating leases	Right-of-use operating lease obligations	$	215,063		$	247,017
Finance lease	Current liabilities		220,461			220,461
Noncurrent:
Operating leases	Right-of-use operating lease obligations		359,193			574,257
Total lease liabilities		$	794,717		$	1,041,735
Weighted-average remaining term:
Operating leases			2.59 years			3.57 years
Finance lease (1)			0 years			0 years
Weighted-average discount rate:
Operating leases			13.0	%		13.0	%
Finance lease			4.9	%		4.9	%

Schedule of Lease Expense

The following table presents certain information related to lease expense for finance and operating leases for the years ended December 31, 2022 and 2021:

	Year Ended December 31, 2022		Year Ended December 31, 2021
Finance lease expense:
Depreciation/amortization of leased assets	$	-	$	-
Interest on lease liabilities		-		-
Operating leases:
Short-term lease expense (2)		323,506		198,187
Total lease expense	$	323,506	$	198,187

Schedule of Lease Supplemental Cash Flow Information

The following table presents supplemental cash flow information for the years ended December 31, 2022 and 2021:

	Year Ended December 31, 2022		Year Ended December 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	323,961	$	277,278
Operating cash flows for finance lease	$	-	$	-
Financing cash flows for finance lease payments	$	-	$	29,524

(1)	As of December 31, 2022 and 2021, the Company was in default under its finance lease obligation, therefore, the aggregate future minimum lease payments and accrued interest under this finance lease in the amount of $0.2 million are deemed to be immediately due.
(2)	Expenses are included in general and administrative expenses in the consolidated statements of operations.

Schedule of Future Minimum Rentals Under Right-of-use Operating and Finance Leases

Aggregate future minimum lease payments under right-of-use operating and finance leases are as follows:

	Right-of-Use Operating Leases			Finance Lease
Twelve months ending December 31:
2023	$	275,176		$	224,252
2024		219,463			-
2025		186,496			-
2026		-			-
2027		-			-
Thereafter		-			-
Total		681,135			224,252
Less interest		(106,879	)		(3,791	)
Present value of minimum lease payments		574,256			220,461
Less current portion of lease obligations		(215,063	)		(220,461	)
Lease obligations, net of current portion	$	359,193		$	-