XML 54 R37.htm IDEA: XBRL DOCUMENT v3.22.1
Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Summary of Components of Lease Cost

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

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

Operating leases

 

 

 

 

 

 

 

 

   Operating lease cost

 

$

503,130

 

 

$

752,413

 

   Variable lease cost

 

 

88,708

 

 

 

125,792

 

Total rent expense

 

$

591,838

 

 

$

878,205

 

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

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

Financing leases

 

 

 

 

 

 

 

 

   Amortization of right-of-use assets

 

$

23,118

 

 

$

42,826

 

   Interest on lease liability

 

 

5,793

 

 

 

8,938

 

Total financing lease cost

 

$

28,911

 

 

$

51,764

 

 

 

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,

 

 

 

2021

 

 

2020

 

Cash paid for amounts included in measurement of operating lease liabilities

 

$

514,453

 

 

$

883,252

 

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

 

$

1,302,457

 

 

$

447,987

 

Weighted-average remaining lease term – operating leases

 

 

3.1

 

 

 

1.7

 

Weighted-average discount rate – operating leases

 

 

5.8

%

 

 

8.0

%

Summary of Remaining Maturities of Operating Leases

As of December 31, 2021, remaining maturities of the Company’s operating leases are as follows:

 

2022

 

 

 

$

481,548

 

2023

 

 

 

 

484,719

 

2024

 

 

 

 

484,631

 

2025

 

 

 

 

40,382

 

Total

 

 

 

 

1,491,280

 

Less present value discount

 

 

 

 

(127,954

)

Total operating lease liabilities

 

 

 

 

1,363,326

 

Less operating lease liabilities – current

 

 

 

 

(413,865

)

Operating lease liabilities - non-current

 

 

 

$

949,461

 

Summary of Other Information Related to Financing Leases

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

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

Weighted-average remaining lease term – financing leases

 

 

2.8

 

 

 

3.4

 

Weighted-average discount rate – financing leases

 

 

9.77

%

 

 

9.77

%

Summary of Remaining Maturities of Financing Leases

As of December 31, 2021, remaining maturities of the Company’s financing leases are as follows:

 

2022

 

 

 

$

20,716

 

2023

 

 

 

 

18,396

 

2024

 

 

 

 

16,080

 

Total

 

 

 

 

55,192

 

Less present value discount

 

 

 

 

(7,081

)

Financing lease liabilities, net

 

 

 

$

48,111