Leases (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| Accounting Policies [Abstract] |
|
| Supplemental Information Related to Leases |
Supplemental information related to operating leases for the years ended December 31, 2024 and 2023 was as follows:
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December 31, 2024 |
|
December 31, 2023 |
| Cash paid for amounts included in the measurement of operating lease liabilities |
|
$ |
727,418 |
|
|
$ |
743,849 |
|
| Right-of-use assets obtained in exchange for operating lease liabilities |
|
$ |
1,650,994 |
|
|
$ |
148,093 |
|
| Weighted-average remaining lease term - operating leases |
|
4.1 Years |
|
4.6 Years |
| Weighted-average discount rate - operating leases |
|
7.5 |
% |
|
6.4 |
% |
Supplemental information for finance leases for the year ended December 31, 2024 and 2023 was as follows:
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December 31, 2024 |
|
December 31, 2023 |
| Cash paid for amounts included in the measurement of finance lease liabilities |
|
$ |
88,845 |
|
|
$ |
— |
|
| Right-of-use assets obtained in exchange for finance lease liabilities |
$ |
295,085 |
|
|
$ |
200,187 |
|
| Weighted-average remaining lease term - finance leases |
4.3 years |
|
5.0 years |
| Weighted-average discount rate - finance leases |
10.0 |
% |
|
10.4 |
% |
|
| Supplemental Balance Sheet Information |
Supplemental balance sheet information related to operating leases for the years ended December 31, 2024 and 2023 was as follows:
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December 31, 2024 |
|
December 31, 2023 |
| Operating leases |
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|
|
|
| Right-of-use assets |
|
$ |
1,730,358 |
|
|
$ |
743,096 |
|
|
|
|
|
|
| Operating lease liability, current |
|
$ |
430,382 |
|
|
$ |
248,933 |
|
| Operating lease liability, long-term |
|
1,341,789 |
|
|
523,660 |
|
| Total operating lease liability |
|
$ |
1,772,171 |
|
|
$ |
772,593 |
|
Supplemental balance sheet information related to finance leases for the year ended December 31, 2024 and 2023 is as follows:
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|
December 31, 2024 |
|
December 31, 2023 |
| Finance leases |
|
|
|
|
| Right-of-use assets - motor vehicles |
|
$ |
425,563 |
|
|
$ |
200,187 |
|
| Right-of-use asset - boiler |
|
26,827 |
|
|
— |
|
|
|
$ |
452,390 |
|
|
$ |
200,187 |
|
|
|
|
|
|
| Finance lease liability, current |
|
$ |
85,646 |
|
|
$ |
40,540 |
|
| Finance lease liability, long-term |
|
325,235 |
|
|
159,647 |
|
| Total finance lease liability |
|
$ |
410,881 |
|
|
$ |
200,187 |
|
|
| Future Minimum Lease Commitments |
Future minimum lease commitments under non-cancellable operating and finance leases as of December 31, 2024 were as follows:
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|
Operating Leases |
|
Finance Leases |
|
Total |
| 2025 |
|
$ |
542,066 |
|
|
$ |
122,460 |
|
|
$ |
664,526 |
|
| 2026 |
|
538,297 |
|
|
113,845 |
|
|
652,142 |
|
| 2027 |
|
442,471 |
|
|
113,845 |
|
|
556,316 |
|
| 2028 |
|
395,827 |
|
|
113,845 |
|
|
509,672 |
|
| 2029 |
|
55,435 |
|
|
43,669 |
|
|
99,104 |
|
| Thereafter |
|
61,569 |
|
|
— |
|
|
61,569 |
|
| Total lease payments |
|
2,035,665 |
|
|
507,664 |
|
|
2,543,329 |
|
| Less: imputed interest |
|
263,494 |
|
|
96,783 |
|
|
360,277 |
|
| Total |
|
$ |
1,772,171 |
|
|
$ |
410,881 |
|
|
$ |
2,183,052 |
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