LEASES (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Leases |
|
| SCHEDULE OF MATURITY OF LEASE LIABILITIES |
The
following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s operating
leases as of March 31, 2026
SCHEDULE OF MATURITY OF LEASE LIABILITIES
| Maturity of Lease Liabilities by Fiscal Year | |
Operating Leases | | |
Finance Leases | |
| 2026 (remaining nine months) | |
$ | 2,934,329 | | |
$ | 27,874 | |
| 2027 | |
| 3,042,198 | | |
| 37,165 | |
| 2028 | |
| 2,369,654 | | |
| 37,165 | |
| 2029 | |
| 1,710,855 | | |
| 37,165 | |
| 2030 | |
| 456,864 | | |
| 27,874 | |
| Thereafter | |
| 464,490 | | |
| - | |
| Total undiscounted operating lease payments | |
$ | 10,978,390 | | |
$ | 167,243 | |
| Less: Imputed interest | |
| (980,515 | ) | |
| (24,045 | ) |
| Present value of lease liabilities | |
$ | 9,997,875 | | |
$ | 143,198 | |
|
| SCHEDULE OF COMPANY’S LEASES |
The
following table summarizes the Company’s operating leases:
SCHEDULE OF COMPANY’S LEASES
| Balance Sheet Classification | |
March 31, 2026 | | |
December 31,
2025 | |
| Operating lease right-of-use assets | |
$ | 9,894,464 | | |
$ | 10,503,441 | |
| Finance lease right-of-use assets | |
| 140,779 | | |
| 148,600 | |
| | |
| | | |
| | |
| Operating lease liability, current | |
$ | 3,332,565 | | |
$ | 3,472,897 | |
| Finance lease liability, current | |
| 27,924 | | |
| 27,423 | |
| Operating lease liability, net of current | |
| 6,665,310 | | |
| 7,111,534 | |
| Finance lease liability, net of current | |
| 115,274 | | |
| 122,445 | |
| Total lease liabilities | |
$ | 10,141,073 | | |
$ | 10,734,299 | |
|
| SCHEDULE OF LEASE TERM |
The
following table provides a summary of other information related to the leases at March 31, 2026 and December 31, 2025:
SCHEDULE OF LEASE TERM
| Other Information | |
March 31, 2026 | | |
December 31, 2025 | |
| Weighted-average remaining lease term for operating leases | |
| 3 years | | |
| 4 years | |
| Weighted-average discount rate for operating leases | |
| 5.52 | % | |
| 5.30 | % |
| Weighted-average remaining lease term for finance leases | |
| 5 years | | |
| 5 years | |
| Weighted-average discount rate for finance leases | |
| 7.25 | % | |
| 7.25 | |
|
| SCHEDULE OF COMPONENTS OF LEASE EXPENSE |
The
components of lease expenses for the three months ended March 31, 2026 and 2025 were as follows:
SCHEDULE OF COMPONENTS OF LEASE EXPENSE
| | |
2026 | | |
2025 | |
| | |
Three Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| Operating lease cost | |
$ | 718,877 | | |
$ | 900,913 | |
| Finance lease cost | |
| 7,821 | | |
| - | |
| Variable lease cost | |
| 19,060 | | |
| 58,787 | |
| Short-term lease cost | |
| 237,933 | | |
| 16,701 | |
| Total lease expense | |
$ | 983,691 | | |
$ | 976,401 | |
|