RIGHT-OF-USE LEASE ASSETS AND OBLIGATIONS (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Right-of-use Lease Assets And Obligations |
|
| SCHEDULE OF LEASE - RELATED ASSET AND OBLIGATIONS |
The
following table presents the Company’s lease-related assets and obligations at March 31, 2026 and December 31, 2025:
SCHEDULE
OF LEASE - RELATED ASSET AND OBLIGATIONS
| | |
Balance Sheet
Classification | |
March
31,
2026 | | |
December 31,
2025 | |
| | |
| |
| | |
| |
| Assets: | |
| |
| | | |
| | |
| | |
| |
| | | |
| | |
| Operating
leases | |
Right-of-use
assets | |
$ | 3,422,734 | | |
$ | 3,548,623 | |
| | |
| |
| | | |
| | |
| Liabilities: | |
| |
| | | |
| | |
| Current: | |
| |
| | | |
| | |
| Operating leases | |
Right-of-use lease obligations | |
$ | 534,660 | | |
$ | 499,351 | |
| Noncurrent: | |
| |
| | | |
| | |
| Operating
leases | |
Right-of-use
lease obligations, noncurrent | |
| 3,027,977 | | |
| 3,174,549 | |
| | |
| |
| | | |
| | |
| Total
right-of-use lease obligations | |
| |
$ | 3,562,637 | | |
$ | 3,673,900 | |
| | |
| |
| | | |
| | |
| Weighted
average remaining term of operating leases, including option periods expected to renew | |
| |
| 4.25
years | | |
| 4.50
years | |
| | |
| |
| | | |
| | |
| Discount
rate | |
| |
| 22.0 | % | |
| 22.0 | % |
|
| SCHEDULE OF RIGHT-OF-USE OPERATING LEASE |
The
following table presents certain information related to lease expense for the right-of-use operating leases for the three months ended
March 31, 2026 and 2025:
SCHEDULE
OF RIGHT-OF-USE OPERATING LEASE
| | |
2026 | | |
2025 | |
| | |
Three
Months Ended | |
| | |
March
31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Right-of-use
operating leases amortization (1) | |
$ | 125,889 | | |
$ | 102,934 | |
| Right-of-use operating
leases interest expense (1) | |
$ | 199,868 | | |
$ | - | |
| Right-of-use operating
leases interest expense (2) | |
$ | - | | |
$ | 220,486 | |
| Right-of-use operating
leases expense | |
$ | - | | |
$ | 220,486 | |
| (1) |
Expense
is included in selling, general and administrative expenses in the consolidated statement of operations. |
| |
|
| (2) |
Expense
is included in interest expense in the consolidated statements of operations. |
|
| SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION |
The
following table presents supplemental cash flow information for the three months ended March 31, 2026 and 2025:
SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION
| | |
2026 | | |
2025 | |
| Operating cash
flows for right-of-use operating leases | |
$ | 274,066 | | |
$ | 368,555 | |
|
| SCHEDULE OF LEASE PAYMENTS UNDER THE RIGHT-OF-USE OPERATING LEASE |
Aggregate
future minimum lease payments under right-of-use operating leases are as follows:
SCHEDULE
OF LEASE PAYMENTS UNDER THE RIGHT-OF-USE OPERATING LEASE
| | |
Right-of-Use
Operating Leases | |
| Twelve months ending: | |
| | |
| March 31, 2027 | |
$ | 1,270,699 | |
| March 31, 2028 | |
| 1,305,528 | |
| March 31, 2029 | |
| 1,343,556 | |
| March 31, 2030 | |
| 1,383,865 | |
| March 31, 2031 | |
| 231,854 | |
| Thereafter | |
| - | |
| Total | |
| 5,535,502 | |
| | |
| | |
| Less interest | |
| (1,972,865 | ) |
| Present
value of minimum lease payments | |
| 3,562,637 | |
| | |
| | |
| Less current portion of
right-of-use lease obligations | |
| (534,660 | ) |
| Right-of-use
lease obligations, net of current portion | |
$ | 3,027,977 | |
|