LEASES (Tables)

12 Months Ended

Dec. 31, 2023

LEASES [Abstract]

Summary of Lease Cost

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

	For the Years Ended December 31,
	2023		2022
Operating leases cost excluding short-term rental expense	$	4,745,560	$	1,616,853
Short-term lease cost		809,894		238,386
Total	$	5,555,454	$	1,855,239

Summary of Supplemental Information Related to Operating Leases

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

	December 31, 2023			December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities	$	4,012,410		$	1,108,721
Weighted average remaining lease term	6.13 years			8.36 years
Weighted average discount rate		6.33	%		4.27	%

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, 2023:

For the year ending December 31,	Operating Leases
2024	$	4,908,465
2025		4,127,389
2026		4,180,335
2027		4,221,505
2028		2,176,965
2029 and thereafter		5,784,794
Total lease payments		25,399,453
Less: imputed interest		4,318,235
Total	$	21,081,218
Less: current portion		4,741,599
Non-current portion		16,339,619