Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.2
Leases (Tables)
6 Months Ended
Jun. 30, 2022
Leases  
Schedule Of Components of lease expense
       
    Six Months Ended
June 30, 2022
Finance leases:        
Amortization of assets, included in depreciation and amortization expense   $ 668,770  
Interest on lease liabilities, included in interest expense     134,939  
Operating lease:        
Amortization of assets, included in total operating expense     102,466  
Interest on lease liabilities, included in total operating expense     9,657  
Total net lease cost   $ 915,832  
Supplemental balance sheet information related to leases was as follows:        
         
Operating Leases:        
         
Operating lease right-of-use asset   $ 325,745  
         
Current operating lease liabilities   $ 207,062  
Noncurrent operating lease liabilities     128,952  
Total operating lease liabilities   $ 336,014  

 

    June 30, 2022
Finance leases:        
Property and equipment, at cost   $ 5,471,716  
Accumulated amortization     (3,248,858 )
Property and equipment, net   $ 2,222,858  
         
Current obligations of finance leases   $

1,130,604

 
Finance leases, net of current obligations    

872,618

 
Total finance lease liabilities   $ 2,003,222  
Supplemental balance sheet information related to leases
       
    Six Months Ended June 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows related to operating leases   $ 95,744  
Financing cash flows related to finance leases   $ 669,000  
         
Weighted average remaining lease term (in years):        
Operating leases     1.71  
Finance leases     1.30  
         
Weighted average discount rate:        
Operating leases     5 %
Finance leases     7 %
Schedule Of Long-term obligations under the operating and Finance leases
               
For the Twelve Months Ended June 30,   Operating Leases   Finance Leases
2023   $ 223,433     $ 1,234,126  
2024     117,191       649,735  
2025     9,226       265,235  
2026            
2027            
Thereafter            
Total lease payments     349,850       2,149,096  
Less: Amounts representing interest     (13,836 )     (145,874 )
Total lease obligations     336,014       2,003,222  
Less: Current     (207,062 )     (1,130,604 )
    $ 128,952     $ 872,618