LEASES (Tables)

12 Months Ended

Dec. 31, 2021

LEASES [Abstract]

Summary of Lease Cost

A summary of lease cost recognized in the Company’s consolidated and combined statements of operations and comprehensive loss is as follows:

	For the Years Ended December 31,
	2021			2020			2019
Operating leases cost excluding short-term rental expense		$	682,616		$	232,758	$	446,260
Short-term lease cost			4,974		16,717			30,063
Total		$	687,590		$	249,475	$	476,323

Summary of Supplemental Information Related to Operating Leases

A summary of supplemental information related to operating leases is as follows:

	December 31, 2021		December 31, 2020		December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities	$	879,788	$	310,931	$	246,668
Weighted average remaining lease term	2.00 years		2.08 years		3.02 years
Weighted average discount rate	3.80%		4.75%		4.75%

Summary of Maturity of Lease Liabilities Under Operating Leases

The following table summarizes the maturity of lease liabilities under operating leases as of December 31, 2021:

For the year ending December 31,	Operating Leases
2022	$	858,478
2023		525,690
Total lease payments		1,384,168
Less: imputed interest		54,841
Total		1,329,327
Less: current portion		839,330
Non-current portion	$	489,997