LEASE LIABILITIES - FINANCE AND OPERATING LEASE (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Lease Liabilities - Finance And Operating Lease |
|
| Lease Liabilities - Finance and Operating Lease - Schedule of Finance Leased Liabilities |
The components of finance lease liabilities were as follows:
Lease Liabilities - Finance and Operating
Lease - Schedule of Finance Leased Liabilities
| |
|
December 31,
2025 | |
December 31,
2024 (Restated) |
| Total finance lease liability |
|
$ | 5,404,546 | | |
$ | 8,432,177 | |
| Less: Current portion |
|
| (228,918 | ) | |
| (3,342,293 | ) |
| Finance lease liability, net of current portion |
|
$ | 5,175,628 | | |
$ | 5,089,884 | |
|
| Lease Liabilities - Finance and Operating Lease - Schedule of Lease Cost |
The components of operating lease liabilities are as follows:
Lease Liabilities - Finance and Operating Lease - Schedule of
operating Lease Liabilities
| | |
December 31, 2025 | |
December 31, 2024 |
| Total Operating lease liabilities | |
$ | 7,014,947 | | |
$ | 7,433,452 | |
| Less: Current portion | |
| (523,847 | ) | |
| (491,850 | ) |
| Operating lease liabilities, net of current portion | |
$ | 6,491,100 | | |
$ | 6,941,602 | |
The components of lease cost were as follows:
Lease Liabilities -
Finance and Operating Lease - Schedule of Lease Cost
| | |
December 31,
2025 | |
December 31,
2024 (Restated) |
| Finance lease cost: | |
| | | |
| | |
| - Amortization of right-of-use assets | |
$ | 3,124,602 | | |
$ | 3,045,602 | |
| - Interest on lease liabilities | |
| 239,508 | | |
| 200,025 | |
| Operating lease cost | |
| 875,201 | | |
| 877,809 | |
| Total lease cost | |
$ | 4,239,311 | | |
$ | 4,123,436 | |
|
| Lease Liabilities - Finance and Operating Lease - Schedule of Lease Cost |
The components of lease cost were as follows:
Lease Liabilities -
Finance and Operating Lease - Schedule of Lease Cost
| | |
December 31,
2025 | |
December 31,
2024 (Restated) |
| Finance lease cost: | |
| | | |
| | |
| - Amortization of right-of-use assets | |
$ | 3,124,602 | | |
$ | 3,045,602 | |
| - Interest on lease liabilities | |
| 239,508 | | |
| 200,025 | |
| Operating lease cost | |
| 875,201 | | |
| 877,809 | |
| Total lease cost | |
$ | 4,239,311 | | |
$ | 4,123,436 | |
|
| Lease Liabilities - Finance and Operating Lease - Schedule of Maturities of Lease Liabilities |
Maturities of lease liabilities were as follows:
Lease
Liabilities - Finance and Operating Lease - Schedule of Maturities of Lease Liabilities
| | |
Finance Lease | |
Operating Lease |
| the next 12 months | |
$ | 267,041 | | |
$ | 833,565 | |
| the next 13 to 24 months | |
| 267,041 | | |
| 841,304 | |
| the next 25 to 36 months | |
| 5,060,315 | | |
| 845,918 | |
| the next 37 to 48 months | |
| 267,041 | | |
| 854,178 | |
| the next 49 to 60 months | |
| 267,041 | | |
| 859,163 | |
| thereafter | |
| — | | |
| 7,522,241 | |
| Total | |
| 6,128,479 | | |
| 11,756,369 | |
| Less: Amount representing interest | |
| (723,933 | ) | |
| (4,741,422 | ) |
| Present value of net minimum lease payments | |
$ | 5,404,546 | | |
$ | 7,014,947 | |
|
| Lease Liabilities - Finance and Operating Lease - Schedule of Supplemental Information Related to Leases |
A summary of supplemental information related to leases is listed as follows:
Lease
Liabilities - Finance and Operating Lease - Schedule of Supplemental Information Related to Leases
| | |
December 31,
2025 | |
December 31,
2024 |
| Weighted average remaining lease term: | |
| | | |
| | |
| Finance leases | |
| 15.7 years | | |
| 16.2 years | |
| Operating leases | |
| 19.6 years | | |
| 19.6 years | |
| Weighted average discount rate: | |
| | | |
| | |
| Finance leases | |
| 4.53 | % | |
| 4.62 | % |
| Operating leases | |
| 4.90 | % | |
| 4.90 | % |
|
| Lease Liabilities - Finance and Operating Lease - Schedule of Cash Flow, Supplemental |
Supplemental cash flow information related to leases was as follows:
Lease
Liabilities - Finance and Operating Lease - Schedule of Cash Flow, Supplemental
| | |
December 31,
2025 | |
December 31,
2024 |
| Cash paid for amounts included in measurement of lease liabilities : | |
| | | |
| | |
| -Operating cash flows from operating leases | |
$ | 826,761 | | |
$ | 894,351 | |
| -Financing cash flows from finance leases | |
$ | 262,778 | | |
$ | 31,866,665 | |
| | |
| | | |
| | |
| Non-cash information on lease liabilities arising from obtaining right-of-use assets: | |
| | | |
| | |
| -Finance leases | |
$ | — | | |
$ | 38,636,330 | |
| -Operating leases | |
$ | — | | |
$ | — | |
|