LEASES (Tables)

9 Months Ended

Sep. 30, 2024

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 Nine Months Ended September 30,
	2024			2023
	(Unaudited)			(Unaudited)
Operating leases cost excluding short-term rental expense		$	3,681,557		$	3,415,206
Short-term lease cost			588,329			637,353
Total		$	4,269,886		$	4,052,559

Summary of Supplemental Information Related to Operating Leases

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

	September 30, 2024				September 30, 2023
	(Unaudited)				(Unaudited)
Cash paid for amounts included in the measurement of lease liabilities		$	2,668,166			$	2,836,188
Weighted average remaining lease term	5.54 years				6.34 years
Weighted average discount rate			6.26	%			6.23	%

Summary of Maturity of Lease Liabilities Under Operating Leases

The following table summarizes the maturity of lease liabilities under operating leases as of September 30, 2024:

	Operating Leases
For the remaining of 2024	$	1,892,740
Years ended December 31,
2025		3,792,727
2026		3,864,253
2027		3,900,075
2028		1,986,439
2029 and thereafter		5,659,333
Total lease payments		21,095,567
Less: imputed interest		3,201,907
Total		17,893,660
Less: current portion		4,605,336
Non-current portion	$	13,288,324