Leases (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Leases [Abstract] |
|
| Schedule of Operating Leases |
Operating
leases as of December 31, 2025 and 2024 consist of the following:
| | | December 31,
2025 | | | December 31,
2024 | | | Operating lease right-of-use assets | | $ | 1,806,255 | | | $ | 2,017,482 | | | | | | | | | | | | | Operating lease liabilities, current portion | | | 432,333 | | | | 598,534 | | | Operating lease liabilities, long-term | | | 1,445,726 | | | | 1,473,795 | | | Total operating lease liabilities | | $ | 1,878,059 | | | $ | 2,072,329 | | | | | | | | | | | | | Weighted-average remaining lease term (years) | | | 3.85 | | | | 4.09 | | | Weighted-average discount rate | | | 14.82 | % | | | 14.14 | % | The
components of operating lease expense consist of the following for the years ended December 31, 2025 and 2024:
| | |
December 31,
2025 | | |
December 31,
2024 | |
| Fixed operating lease expense | |
$ | 802,144 | | |
$ | 494,349 | |
| Short-term and variable operating lease expense | |
| 109,273 | | |
| 93,681 | |
| Total operating lease expense | |
$ | 911,417 | | |
$ | 588,030 | |
|
| Schedule of Maturities of Operating Lease Liabilities |
As
of December 31, 2025, maturities of operating lease liabilities were as follows:
| Year Ending December 31, | |
Amount | |
| 2026 | |
$ | 677,057 | |
| 2027 | |
| 607,504 | |
| 2028 | |
| 564,814 | |
| 2029 | |
| 573,606 | |
| 2030 | |
| 67,261 | |
| Total | |
| 2,490,242 | |
| Less: imputed interest | |
| (612,183 | ) |
| Total operating lease liabilities | |
$ | 1,878,059 | |
|
| Schedule of Finance Leases |
Finance
leases as of December 31, 2025 and 2024 consist of the following:
| | | December 31,
2025 | | | December 31,
2024 | | | Machinery and equipment | | $ | 1,079,330 | | | $ | 1,079,330 | | | Office furniture and equipment | | | 11,706 | | | | 11,706 | | | Total leased equipment (property and equipment) | | | 1,091,036 | | | | 1,091,036 | | | Less: accumulated depreciation | | | (831,849 | ) | | | (613,821 | ) | | Total leased equipment, net | | $ | 259,187 | | | $ | 477,215 | | | | | | | | | | | | | Finance lease liabilities, current portion | | | 192,505 | | | | 182,043 | | | Finance lease liabilities, long-term | | | 230,693 | | | | 423,198 | | | Total finance lease liabilities | | $ | 423,198 | | | $ | 605,241 | | | | | | | | | | | | | Weighted-average remaining lease term (years) | | | 2.11 | | | | 3.10 | | | Weighted-average discount rate | | | 5.16 | % | | | 5.15 | % | The
components of finance lease expense consist of the following for the years ended December 31, 2025 and 2024:
| | |
December 31,
2025 | | |
December 31,
2024 | |
| Depreciation expense | |
$ | 218,028 | | |
$ | 218,028 | |
| Interest expense | |
| 29,290 | | |
| 39,179 | |
| Total finance lease expense | |
$ | 247,318 | | |
$ | 257,207 | |
|
| Schedule of Maturities of Financing Lease Liabilities |
As
of December 31, 2025, maturities of finance lease liabilities were as follows:
| Year Ending December 31, | |
Amount | |
| 2026 | |
$ | 211,332 | |
| 2027 | |
| 210,042 | |
| 2028 | |
| 28,833 | |
| Total | |
| 450,207 | |
| Less: amount representing interest | |
| (27,009 | ) |
| Total finance lease liabilities | |
$ | 423,198 | |
|