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RIGHT OF USE ASSETS AND LIABILITIES
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
RIGHT OF USE ASSETS AND LIABILITIES RIGHT OF USE ASSETS AND LIABILITIES
As of March 31, 2024, the Company has seven operating type leases with an imputed annual interest rate of 8.0%. Each of the Company's operating type leases are utilized as office space with one lease also including a warehouse for inventory. Five of the leases were acquired by the Company in connection with its various acquisitions. The remaining lease terms range from less than one year to 6 years, as of March 31, 2024. The following is a summary of operating lease liabilities:
March 31,
2024		December 31,
2023
Operating lease liabilities related to right of use assets$1,966,420 $2,087,503 
Less current portion(673,920)(707,141)
Long term$1,292,500 $1,380,362 
The following is a schedule showing total future minimum lease payments:
For the period ending March 31,Minimum
Lease Payments
Remainder of 2024$552,251 
2025573,133 
2026404,751 
2027346,812 
2028253,415 
Thereafter82,488 
Total minimum lease payments2,212,850 
Less: Amount representing interest(246,430)
Net lease obligations$1,966,420 
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.
RIGHT OF USE ASSETS AND LIABILITIES RIGHT OF USE ASSETS AND LIABILITIES
As of March 31, 2024, the Company has seven operating type leases with an imputed annual interest rate of 8.0%. Each of the Company's operating type leases are utilized as office space with one lease also including a warehouse for inventory. Five of the leases were acquired by the Company in connection with its various acquisitions. The remaining lease terms range from less than one year to 6 years, as of March 31, 2024. The following is a summary of operating lease liabilities:
March 31,
2024		December 31,
2023
Operating lease liabilities related to right of use assets$1,966,420 $2,087,503 
Less current portion(673,920)(707,141)
Long term$1,292,500 $1,380,362 
The following is a schedule showing total future minimum lease payments:
For the period ending March 31,Minimum
Lease Payments
Remainder of 2024$552,251 
2025573,133 
2026404,751 
2027346,812 
2028253,415 
Thereafter82,488 
Total minimum lease payments2,212,850 
Less: Amount representing interest(246,430)
Net lease obligations$1,966,420 
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.