Leases (Tables)
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9 Months Ended |
Sep. 30, 2025 |
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| Leases [Abstract] |
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| Supplemental Information Related to Leases |
Supplemental information related to operating leases for the nine months ended September 30, 2025 and 2024 was as follows:
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September 30, 2025 |
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September 30, 2024 |
| Cash paid for amounts included in the measurement of operating lease liabilities |
|
$ |
412,009 |
|
|
$ |
589,455 |
|
| Right-of-use assets obtained in exchange for operating lease liabilities |
|
$ |
193,480 |
|
|
$ |
1,547,800 |
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| Weighted-average remaining lease term - operating leases |
|
3.2 Years |
|
4.3 Years |
| Weighted-average discount rate - operating leases |
|
7.6 |
% |
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7.5 |
% |
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Lease expense for finance leases for the nine months ended September 30, 2025 and 2024 was as follows:
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September 30, 2025 |
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September 30, 2024 |
| Finance lease cost: |
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| Depreciation of right-of-use assets |
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$ |
136,329 |
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|
$ |
37,565 |
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| Interest on lease liabilities |
|
53,557 |
|
|
16,240 |
|
| Total finance lease cost |
|
$ |
189,886 |
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|
$ |
53,805 |
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Supplemental information related to finance leases for the nine months ended September 30, 2025 and 2024 was as follows:
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September 30, 2025 |
|
September 30, 2024 |
| Cash paid for amounts included in the measurement of finance lease liabilities |
|
$ |
258,076 |
|
|
$ |
71,138 |
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| Right-of-use assets obtained in exchange for finance lease liabilities |
|
1,013,564 |
|
|
275,501 |
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| Weighted-average remaining lease term - finance leases |
|
4.3 Years |
|
4.5 Years |
| Weighted-average discount rate - finance leases |
|
10.3 |
% |
|
9.8 |
% |
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| Future Minimum Lease Commitments |
Future minimum lease commitments under non-cancellable operating and finance leases as of September 30, 2025 were as follows:
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Operating Leases |
|
Finance Leases |
|
Total |
| Year 1 |
|
$ |
595,143 |
|
|
$ |
368,575 |
|
|
$ |
963,718 |
|
| Year 2 |
|
525,863 |
|
|
344,321 |
|
|
870,184 |
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| Year 3 |
|
475,673 |
|
|
344,321 |
|
|
819,994 |
|
| Year 4 |
|
188,297 |
|
|
294,856 |
|
|
483,153 |
|
| Year 5 |
|
66,037 |
|
|
108,827 |
|
|
174,864 |
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| Thereafter |
|
23,725 |
|
|
— |
|
|
23,725 |
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| Total lease payments |
|
1,874,738 |
|
|
1,460,900 |
|
|
3,335,638 |
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| Less: imputed interest |
|
213,646 |
|
|
274,385 |
|
|
488,031 |
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| Total |
|
$ |
1,661,092 |
|
|
$ |
1,186,515 |
|
|
$ |
2,847,607 |
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| Assets and Liabilities, Lessee |
Supplemental balance sheet information related to operating leases as of September 30, 2025 and December 31, 2024 was as follows:
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September 30, 2025 |
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December 31, 2024 |
| Operating leases |
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| Right-of-use assets |
|
$ |
1,610,839 |
|
|
$ |
1,730,358 |
|
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|
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| Operating lease liabilities, current portion |
|
$ |
534,397 |
|
|
$ |
430,382 |
|
| Operating lease liabilities, net of current portion |
|
1,126,695 |
|
|
1,341,789 |
|
| Total operating lease liability |
|
$ |
1,661,092 |
|
|
$ |
1,772,171 |
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Supplemental balance sheet information related to finance leases as of September 30, 2025 and December 31, 2024 is as follows:
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September 30, 2025 |
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December 31, 2024 |
| Finance leases |
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| Right-of-use assets - motor vehicles |
|
$ |
1,305,353 |
|
|
$ |
425,563 |
|
| Right-of-use assets - boiler |
|
— |
|
|
26,827 |
|
| Total finance lease assets |
|
$ |
1,305,353 |
|
|
$ |
452,390 |
|
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|
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| Finance lease liabilities, current portion |
|
$ |
252,406 |
|
|
$ |
85,646 |
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| Finance lease liabilities, net of current portion |
|
934,109 |
|
|
325,235 |
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| Total finance lease liabilities |
|
$ |
1,186,515 |
|
|
$ |
410,881 |
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