Leases (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
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| Accounting Policies [Abstract] |
|
| Supplemental Information Related to Leases |
Supplemental information related to operating leases for the years ended December 31, 2025 and 2024 was as follows:
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December 31, 2025 |
|
December 31, 2024 |
| Cash paid for amounts included in the measurement of operating lease liabilities |
|
$ |
549,894 |
|
|
$ |
727,418 |
|
| Right-of-use assets obtained in exchange for operating lease liabilities |
|
$ |
193,480 |
|
|
$ |
1,650,994 |
|
| Weighted-average remaining lease term - operating leases |
|
3.2 Years |
|
4.1 Years |
| Weighted-average discount rate - operating leases |
|
7.6 |
% |
|
7.5 |
% |
Supplemental information for finance leases for the year ended December 31, 2025 and 2024 was as follows:
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December 31, 2025 |
|
December 31, 2024 |
| Cash paid for amounts included in the measurement of finance lease liabilities |
|
$ |
402,267 |
|
|
$ |
119,953 |
|
| Right-of-use assets obtained in exchange for finance lease liabilities |
$ |
1,227,447 |
|
|
$ |
313,776 |
|
| Weighted-average remaining lease term - finance leases |
4.0 years |
|
4.3 years |
| Weighted-average discount rate - finance leases |
10.3 |
% |
|
10.0 |
% |
|
| Supplemental Balance Sheet Information |
Supplemental balance sheet information related to operating leases for the years ended December 31, 2025 and 2024 was as follows:
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December 31, 2025 |
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December 31, 2024 |
| Operating leases |
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|
|
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| Right-of-use assets |
|
$ |
1,490,094 |
|
|
$ |
1,730,358 |
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|
|
|
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| Operating lease liability, current |
|
$ |
538,641 |
|
|
$ |
430,382 |
|
| Operating lease liability, long-term |
|
1,004,488 |
|
|
1,341,789 |
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| Total operating lease liability |
|
$ |
1,543,129 |
|
|
$ |
1,772,171 |
|
Supplemental balance sheet information related to finance leases for the year ended December 31, 2025 and 2024 is as follows:
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December 31, 2025 |
|
December 31, 2024 |
| Finance leases |
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|
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| Right-of-use assets - motor vehicles |
|
$ |
1,434,080 |
|
|
$ |
425,563 |
|
| Right-of-use asset - boiler |
|
— |
|
|
26,827 |
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|
|
$ |
1,434,080 |
|
|
$ |
452,390 |
|
|
|
|
|
|
| Finance lease liability, current |
|
$ |
280,265 |
|
|
$ |
85,646 |
|
| Finance lease liability, long-term |
|
992,285 |
|
|
325,235 |
|
| Total finance lease liability |
|
$ |
1,272,550 |
|
|
$ |
410,881 |
|
We exercised the bargain purchase option for the leased boiler and reclassified the asset to property, plant and equipment in the year ended December 31, 2025.
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| Future Minimum Lease Commitments |
Future minimum lease commitments under non-cancellable operating and finance leases as of December 31, 2025 were as follows:
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Operating Leases |
|
Finance Leases |
|
Total |
| 2025 |
|
$ |
593,234 |
|
|
$ |
399,436 |
|
|
$ |
992,670 |
|
| 2026 |
|
498,171 |
|
|
389,918 |
|
|
888,089 |
|
| 2027 |
|
477,654 |
|
|
389,918 |
|
|
867,572 |
|
| 2028 |
|
89,973 |
|
|
295,451 |
|
|
385,424 |
|
| 2029 |
|
59,127 |
|
|
80,108 |
|
|
139,235 |
|
| Thereafter |
|
9,490 |
|
|
— |
|
|
9,490 |
|
| Total lease payments |
|
1,727,649 |
|
|
1,554,831 |
|
|
3,282,480 |
|
| Less: imputed interest |
|
184,520 |
|
|
282,281 |
|
|
466,801 |
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| Total |
|
$ |
1,543,129 |
|
|
$ |
1,272,550 |
|
|
$ |
2,815,679 |
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