Note 9 – Leases

The following table presents the Company’s ROU assets and lease liabilities as of September 30, 2023 and December 31, 2022:

Lease classification	September 30, 2023		December 31, 2022
ROU Assets:
Operating	$	1,915,049	$	1,459,413
Financing		986		3,500
Total ROU assets	$	1,916,035	$	1,462,913
Liabilities
Current:
Operating	$	521,424	$	377,626
Finance		1,121		3,364
Noncurrent:
Operating		2,830,282		2,566,138
Finance		—		280
Total lease liabilities	$	3,352,827	$	2,947,408

Maturities of lease liabilities as of September 30, 2023 by fiscal year are as follows:

Maturity of lease liabilities		Operating			Finance		Total
	2023 (October to December)	$	202,289		$	841	$	203,130
	2024		815,622			280		815,902
	2025		725,505			—		725,505
	2026		577,456			—		577,456
	2027		587,859			—		587,859
	Thereafter		1,737,689			—		1,737,689
	Total lease payments		4,646,420			1,121		4,647,541
	Less: Interest		(1,294,714	)		—		(1,294,714	)
	Present value of lease liabilities	$	3,351,706		$	1,121	$	3,352,827

Condensed consolidated statements of operations classification of lease costs as of the three and nine months ended September 30, 2023 and 2022 are as follows:

		Three months ended September 30,				Nine months ended September 30,
Lease cost	Classification	2023		2022		2023		2022
Operating	Operating expenses	$	175,243	$	139,206	$	484,546	$	466,904
Finance:
Amortization	Operating expenses		847		15,312		2,514		86,119
Interest expense	Other expenses		—		258		—		1,672
Total lease costs		$	176,090	$	154,776	$	487,060	$	554,695

Other lease information as of September 30, 2023 is as follows:

Other information	Total
Weighted average remaining lease term (in years)
Operating leases		6.7
Finance leases		0.3
Weighted average discount rate:
Operating leases		9.7	%
Finance leases		1.0	%

Supplemental cash flow information as of the nine months ended September 30, 2023 and 2022 is as follows:

Supplemental cash flow information	2023		2022
Cash paid for amounts included in the measurement of lease liabilities
Cash used in operating activities
Operating leases	$	484,546	$	466,904
Finance leases	$	—	$	1,672
Cash used in financing activities
Finance leases	$	2,523	$	38,925
ROU assets obtained in exchange for lease obligations:
Operating leases	$	801,321	$	—