| Schedule of Quantitative Information Regarding Company’s Leases |
Quantitative information regarding the Company’s
leases is as follows:
| | |
Three Months Ended
June 30, | | |
Six Months Ended
June 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| Lease expenses | |
| | |
| | |
| | |
| |
| Operating lease expenses | |
$ | 150,278 | | |
$ | 150,278 | | |
$ | 300,556 | | |
$ | 300,556 | |
| Short-term lease costs | |
| 18,750 | | |
| - | | |
| 33,750 | | |
| - | |
| Variable and other lease costs | |
| 5,754 | | |
| 25,900 | | |
| 8,079 | | |
| 34,728 | |
| Total lease cost | |
$ | 174,782 | | |
$ | 176,178 | | |
$ | 342,385 | | |
$ | 335,284 | |
|
Qualitative information regarding the Company’s
leases is as follows:
| | | The Years Ended
December 31, | | | | | 2024 | | | 2023 | | | Lease expenses | | | | | | | | Operating lease expenses | | $ | 601,113 | | | $ | 591,588 | | | Variable and other lease costs | | | 44,728 | | | | 5,395 | | | Total lease cost | | $ | 645,841 | | | $ | 596,983 | | | Other information | | | | | | | | | | Cash paid for the amounts included in the measurement of lease liabilities for operating leases: | | | | | | | | | | Operating cash flows | | $ | 557,703 | | | $ | 506,783 | | | Weighted-average remaining lease term (in years): | | | | | | | | | | Operating leases | | | 8.59 | | | | 9.53 | | | Weighted-average discount rate: | | | | | | | | | | Operating leases | | | 6.3 | % | | | 6.3 | % |
|
| Schedule of Maturity Analysis Under the Lease Agreement |
Maturity analysis under the lease agreement
is as follows:
| | |
Total | |
| 2025 (excluding six months ended June 30, 2025) | |
$ | 288,608 | |
| 2026 | |
| 535,720 | |
| 2027 | |
| 492,318 | |
| 2028 | |
| 508,885 | |
| 2029 and beyond | |
| 2,765,297 | |
| | |
| 4,590,828 | |
| Less: present value discount | |
| (1,036,750 | ) |
| Lease liability | |
$ | 3,554,078 | |
|
Maturity analysis under the lease agreements are
as follows:
| | |
Total | |
| 2025 | |
$ | 575,360 | |
| 2026 | |
| 535,719 | |
| 2027 | |
| 492,318 | |
| 2028 | |
| 508,885 | |
| 2029 and beyond | |
| 2,765,250 | |
| | |
| 4,877,532 | |
| Less: present value discount | |
| (1,150,349 | ) |
| Lease liability | |
$ | 3,727,183 | |
|