Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

v3.25.1
Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases  
Schedule of components of lease expense
       
    Year Ended December 31, 2024
Finance leases:        
Amortization of assets, included in depreciation and amortization expense   $ 418,700  
Interest on lease liabilities, included in interest expense     23,549  
Operating lease:        
Amortization of assets, included in total operating expense     91,425  
Interest on lease liabilities, included in total operating expense     773  
Total net lease cost   $ 534,447  
Supplemental balance sheet information related to leases was as follows:        
         
Operating Leases:        
         
Operating lease right-of-use asset   $ 575,380  
         
Current operating lease liabilities   $ 98,860  
Noncurrent operating lease liabilities     523,070  
Total operating lease liabilities   $ 621,930  

 

    December 31, 2024
Finance leases:        
Property and equipment, at cost   $ 5,521,716  
Accumulated amortization     (5,008,846 )
Property and equipment, net   $ 512,870  
         
Current obligations of finance leases   $ 51,520  
Finance leases, net of current obligations      
Total finance lease liabilities   $ 51,520  

Schedule of supplemental cash flow and other information related to leases
       
    Year Ended December 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows related to operating leases   $ 90,010  
Financing cash flows related to finance leases   $ 485,962  
         
Weighted average remaining lease term (in years):        
Operating leases     4.83  
Finance leases     0.11  
         
Weighted average discount rate:        
Operating leases     9 %
Finance leases     7 %

Schedule of long term obligations operating and finance leases
                 
For the Twelve Months Ended December 31,   Operating Leases   Finance Leases
2025     $ 146,931     $ 52,009  
2026       152,074        
2027       157,396        
2028       162,905        
2029       140,266        
Total lease payments       759,572       52,009  
Less: Amounts representing interest       (137,642 )     (489 )
Total lease obligations       621,930       51,520  
Less: long-term obligations       (523,070 )      
 Total current     $ 98,860     $ 51,520