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OPERATING LEASE LIABILITIES AND COMMITMENTS AND CONTINGENCIES
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
OPERATING LEASE LIABILITIES AND COMMITMENTS AND CONTINGENCIES OPERATING LEASE LIABILITIES AND COMMITMENTS AND CONTINGENCIES
The Company has seven operating office lease liabilities and one finance office lease liability with an imputed annual interest rate of 8.0%. Five of the leases were assigned to the Company in connection with its various acquisitions. The remaining lease terms range from less than a year to 6 years, as of June 30, 2024. The following is a summary of operating lease liabilities:
June 30,
2024		December 31,
2023
Operating lease liabilities related to right of use assets$1,839,869 $2,087,503 
Less current portion(631,136)(707,141)
Long term$1,208,733 $1,380,362 
The following is a schedule showing total future minimum lease payments:
For the years ending December 31,Minimum
Lease Payments
Remainder of 2024$386,553 
2025675,839 
2026488,853 
2027365,430 
2028256,844 
Thereafter82,488 
Total minimum lease payments2,256,007 
Less: Amount representing interest(416,138)
Net lease obligations$1,839,869 
From time to time, the Company is involved in routine litigation that arises in the ordinary course of business. There are no ongoing legal proceedings for which management believes the ultimate outcome would have a material adverse effect on the Company’s results of operations and cash flows.
On August 11, 2023, the Company entered into a settlement agreement (the “Settlement Agreement”) with Crest Ventures, LLC (“Crest”) and Andrew Telsey to settle all claims in the litigation filed in the District Court for Arapahoe County, Colorado, Case No. 2021CV31301. Pursuant to the Settlement Agreement, the Company paid $1,500,000 to Crest on September 7, 2023. In connection with this settlement, the Company recorded a loss in the second quarter ended June 30, 2023 of $1,500,000 in accordance with GAAP related to loss contingencies.
OPERATING LEASE LIABILITIES AND COMMITMENTS AND CONTINGENCIES OPERATING LEASE LIABILITIES AND COMMITMENTS AND CONTINGENCIES
The Company has seven operating office lease liabilities and one finance office lease liability with an imputed annual interest rate of 8.0%. Five of the leases were assigned to the Company in connection with its various acquisitions. The remaining lease terms range from less than a year to 6 years, as of June 30, 2024. The following is a summary of operating lease liabilities:
June 30,
2024		December 31,
2023
Operating lease liabilities related to right of use assets$1,839,869 $2,087,503 
Less current portion(631,136)(707,141)
Long term$1,208,733 $1,380,362 
The following is a schedule showing total future minimum lease payments:
For the years ending December 31,Minimum
Lease Payments
Remainder of 2024$386,553 
2025675,839 
2026488,853 
2027365,430 
2028256,844 
Thereafter82,488 
Total minimum lease payments2,256,007 
Less: Amount representing interest(416,138)
Net lease obligations$1,839,869 
From time to time, the Company is involved in routine litigation that arises in the ordinary course of business. There are no ongoing legal proceedings for which management believes the ultimate outcome would have a material adverse effect on the Company’s results of operations and cash flows.
On August 11, 2023, the Company entered into a settlement agreement (the “Settlement Agreement”) with Crest Ventures, LLC (“Crest”) and Andrew Telsey to settle all claims in the litigation filed in the District Court for Arapahoe County, Colorado, Case No. 2021CV31301. Pursuant to the Settlement Agreement, the Company paid $1,500,000 to Crest on September 7, 2023. In connection with this settlement, the Company recorded a loss in the second quarter ended June 30, 2023 of $1,500,000 in accordance with GAAP related to loss contingencies.