v3.25.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2025
Commitments And Contingencies Disclosure [Abstract]  
Schedule of Other information Related to Leases

Other information related to leases as of the three month periods ended March 31, 2025 and 2024 was as follows:

 

 

 

 

For the Three Months Ended March 31,

 

 

 

 

2025

 

 

2024

 

Operating lease expense

 

 

$

204,889

 

 

$

174,415

 

 Total lease expense

 

 

$

204,889

 

 

$

174,415

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of operating lease liabilities:

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

 

$

129,562

 

 

$

111,784

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases

 

 

63.6 months

 

 

70.4 months

 

Weighted-average discount rate - operating leases

 

 

13.60%

 

 

13.60%

 

 

 

 

 

 

 

 

 

Summary of Maturity of Operating Lease Liabilities

The following table presents the maturity of the Company’s operating lease liabilities as of March 31, 2025:

 

Year

Operating Leases

 

Remaining 2025

$

352,677

 

2026

 

420,824

 

2027

 

415,210

 

2028

 

419,922

 

2029

 

436,719

 

Thereafter

 

298,808

 

Total lease payments

 

2,344,161

 

Less: Amount representing interest

 

(619,568

)

Present value of lease payment

 

1,724,593

 

Less: current portion of operating lease obligation

 

(272,865

)

Operating lease obligation, net of current portion

$

1,451,728