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Leases (Tables)
9 Months Ended
Sep. 30, 2024
Leases  
Schedule of lease cost

For the Nine Months Ended September 30, 2024

For the Nine Months Ended September 30, 2023

Operating lease cost

$

957,600

$

956,673

Finance lease cost

Amortization of lease assets

1,712,838

1,240,249

Interest on lease liabilities

719,832

525,791

Total finance lease cost

$

2,432,670

$

1,766,040

Schedule of weighted average remaining lease term and incremental borrowing rate

For the Nine Months Ended September 30, 2024

For the Nine Months Ended September 30, 2023

Weighted average remaining lease term

Operating leases

5.9 years

6.7 years

Finance leases

11.1 years

11.3 years

Weighted average incremental borrowing rate

Operating leases

9.75

%

9.45

%

Finance leases

10.12

%

10.12

%

Schedule of maturities of operating and finance lease liabilities

Operating Leases

    

Finance Leases

    

Total

2024 (excluding the nine months ended September 30, 2024)

$

196,016

419,602

$

615,618

2025

801,601

1,765,385

2,566,986

2026

828,175

1,679,279

2,507,454

2027

855,510

902,127

1,757,637

2028

883,863

931,290

1,815,153

2029

652,422

961,311

1,613,733

2030

536,933

1,062,262

1,599,195

Thereafter

8,278,092

8,278,092

Total minimum lease payments

4,754,520

15,999,348

20,753,868

Less: imputed interest

(1,125,060)

(6,793,197)

(7,918,257)

Present value of lease liabilities

$

3,629,460

$

9,206,151

$

12,835,611