XML 57 R35.htm IDEA: XBRL DOCUMENT v3.23.1
Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Components of Lease Cost

The components of lease cost for operating leases were as follows:

 

 

Years Ended December 31,

 

 

 

2022

 

 

2021

 

Operating leases

 

 

 

 

 

 

Operating lease cost

 

$

483,956

 

 

$

503,130

 

Variable lease cost

 

 

99,989

 

 

 

88,708

 

Total rent expense

 

$

583,945

 

 

$

591,838

 

Summary of Other Information Related to Operating Leases

The table below summarizes other information related to the Company’s operating leases:

 

 

Years Ended December 31,

 

 

 

2022

 

 

2021

 

Cash paid for amounts included in measurement of operating lease liabilities

 

$

487,673

 

 

$

514,453

 

Establishment of operating lease liabilities arising from obtaining right-of-use- assets

 

 

77,385

 

 

 

1,302,457

 

Weighted-average remaining lease term – operating leases

 

 

2.1

 

 

 

3.1

 

Weighted-average discount rate – operating leases

 

 

5.8

%

 

 

5.8

%

 

Summary of Remaining Maturities of Operating Leases

Remaining maturities of the Company’s operating leases, included in operating lease liabilities – current and operating lease liabilities - non-current, net of discount, in the consolidated balance sheets as of December 31, 2022, are as follows:

2023

 

 

 

$

521,467

 

2024

 

 

 

 

521,379

 

2025

 

 

 

 

43,444

 

Total

 

 

 

 

1,086,290

 

Less present value discount

 

 

 

 

(64,840

)

Total operating lease liabilities

 

 

 

 

1,021,450

 

Less operating lease liabilities - current

 

 

 

 

(475,126

)

Operating lease liabilities - non-current

 

 

 

$

546,324