Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

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Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Rental Payments

 

Year   Total  
April 1 – December 31, 2024   $ 180,908  
2025   $ 211,852  
2026   $ 203,753  
2027   $ 158,054  
2028   $ 164,133  
2029   $ 41,036  
Total future undiscounted lease payments   $ 959,736  
Less imputed interest   $ 375,189  
Present value of lease liabilities   $ 584,547  
Schedule of Right of Use Asset and the Corresponding Lease Liability

Below is a table for the right of use asset and the corresponding lease liability in the consolidated balance sheets:

 

Operating Leases   March 31, 2024     December 31, 2023  
Right of use asset   $ 565,409     $ 142,815  
Right of use liability, current   $ 204,886     $ 66,895  
Right of use liability, long term   $ 379,661     $ 60,961  
Total lease liability   $ 584,547     $ 127,856  
Schedule of Lease Cost for Operating Leases

The components of lease cost for operating leases for the three months ended March 31, 2024 and 2023 are as follows:

 

    March 31, 2024     March 31, 2023  
Operating lease cost   $ 32,997     $ 37,810  
Short-term lease cost     21,737       20,850  
Total lease cost   $ 54,734     $ 58,660