Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.25.0.1
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Rental Payments

Following is a schedule by years of future minimum rental payments required under operating leases with initial or remaining non-cancelable lease terms in excess of one year as of June 30, 2024:

  

Year   Total  
July 1 – December 31, 2024   $ 153,370  
2025   $ 211,852  
2026   $ 203,753  
2027   $ 158,054  
2028   $ 164,133  
2029   $ 41,036  
Total future undiscounted lease payments   $ 932,198  
Less imputed interest   $ (365,856 )
Present value of lease liabilities   $ 566,342  
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  

June

30, 2024

    December 31, 2023  
Right of use asset   $ 582,364     $ 142,815  
Right of use liability, current   $ 207,508     $ 66,895  
Right of use liability, long term   $ 358,834     $ 60,961  
Total lease liability   $ 566,342     $ 127,856  
Schedule of Lease Cost for Operating Leases

The components of lease cost for operating leases for the six months ended June 30, 2024, and 2023 are as follows:

  

   

June

30, 2024

   

June

30, 2023

 
Operating lease cost   $ 68,181     $ 64,310  
Short-term lease cost     21,737       45,900  
Total lease cost   $ 89,918     $ 110,210