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10-Q LEASES (Tables)
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
ROU Assets and Lease Liabilities
The Company’s right-of-use assets and lease liabilities for its operating lease consisted of the following amounts as of March 31, 2024 and December 31, 2023:
As of March 31, 2024As of December 31, 2023
Assets:
Operating lease right-of-use assets$2,182,681 $1,893,659 
Liabilities:
Operating lease liability, current232,138 118,058 
Operating lease liability, non-current2,028,959 1,796,727 
Total lease liability$2,261,097 $1,914,785 
The table below shows a weighted-average analysis for lease terms and discount rates for all operating leases for the periods presented:
Three Months Ended March 31,
20242023
Weighted-average remaining lease term (in years)5.761.34
Weighted-average discount rate9.67 %3.36 %
The Company’s right-of-use assets and lease liabilities for its operating lease consisted of the following amounts as of December 31, 2023 and 2022:
As of December 31,
20232022
Assets:
Operating lease right-of-use assets$1,893,659 $77,011 
Liabilities:
Operating lease liability, current118,058 48,127 
Operating lease liability, non-current1,796,727 29,268 
Total lease liability$1,914,785 $77,395 
The table below shows a weighted-average analysis for lease terms and discount rates for all operating leases for the periods presented:
Years Ended December 31,
20232022
Weighted-average remaining lease term (in years)6.011.58
Weighted-average discount rate9.67 %3.36 %
Lease Expense The Company’s lease expense for the periods presented consisted of the following:
Three Months Ended March 31,
20242023
Operating lease cost$121,833 $12,471 
Variable lease cost20,769 1,221 
Total lease cost$142,602 $13,692 
The following table shows supplemental cash flow information related to lease activities for the periods presented:
Three Months Ended March 31,
20242023
Cash paid for amounts included in the measurement of the lease liability
Operating cash flows from operating leases$85,314 $12,279 
ROU assets obtained in exchange for new lease liabilities359,352 — 
The Company’s lease expense for the periods presented consisted of the following:
Years Ended December 31,
20232022
Operating lease cost$207,508 $48,784 
Variable lease cost16,103 3,664 
Total lease cost$223,611 $52,448 
The following table shows supplemental cash flow information related to lease activities for the periods presented:
Years Ended December 31,
20232022
Cash paid for amounts included in the measurement of the lease liability
Operating cash outflows for operating leases$201,200 $48,399 
ROU assets obtained in exchange for new lease liabilities1,782,726 — 
Future Minimum Noncancellable Lease Payments
Future minimum noncancellable lease payments under the Company’s operating leases on an undiscounted basis reconciled to the respective lease liability at March 31, 2024 are as follows:
Operating leases
Remaining of 2024$95,359 
2025553,953 
2026570,602 
2027587,694 
2028605,268 
Thereafter623,490 
Total operating lease payments (undiscounted)3,036,366 
Less: Imputed interest(775,269)
Lease liability as of March 31, 2024$2,261,097 
Future minimum noncancellable lease payments under the Company’s operating leases on an undiscounted basis reconciled to the respective lease liability at December 31, 2023 are as follows:
Operating leases
2024$118,058 
2025471,239 
2026485402 
2027499,980 
2028514,946 
Thereafter530,391 
Total operating lease payments (undiscounted)2,620,016 
Less: Imputed interest(705,231)
Lease liability as of December 31, 2023$1,914,785