COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2021

COMMITMENTS AND CONTINGENCIES [Abstract]

Supplemental Cash Flow Information and Non-Cash Activity Related to Leases

Supplemental cash flow information and non-cash activity related to leases for the years ended December 31, 2021 and 2020 were as follows:

	Year Ended December 31,
	2021		2020
Cash used in operating leases	$	280,978	$	—
ROU assets obtained in exchange for lease obligations	$	223,047	$	—

ROU Lease Assets and Lease Liabilities

ROU lease assets and lease liabilities for the Company’s operating leases were recorded in the consolidated balance sheet as follows:

	As of December 31, 2021		As of December 31, 2020
Right of use assets, net	$	859,637	$	—
Short-term operating lease liabilities	$	247,325	$	—
Long-term operating lease liabilities		611,523		—
Total lease liabilities	$	858,848	$	—
Weighted average remaining lease term (in years)		3.32		—
Weighted average discount rate		8.5%		0.0%

Components of Lease Expenses

The components of lease expense were as follows for each of the periods presented:

	Year Ended December 31,
	2021		2020
Operating lease expense	$	255,464	$	—
Short-term lease expense	$	113,398	$	16,106
Total operating lease costs	$	368,862	$	16,106

Future Lease Payments Included in Measurement of Lease Liabilities

Future lease payments included in the measurement of lease liabilities on the consolidated balance sheet as of December31, 2021, for the following five fiscal years and thereafter were as follows:

	As of December 31, 2021
2022	$	308,470
2023		286,670
2024		291,161
2025		85,726
2026		14,288
Thereafter		—
Total future minimum lease payments	$	986,315
Less imputed interest		(127,467	)
Total	$	858,848

Remaining Payment Obligations under these Licenses

The following table shows the remaining payment obligations under these licenses as of December31, 2021:

	As of December 31, 2021
Year ending December 31, 2022	$	853,844
Year ending December 31, 2023		1,741,439
Year ending December 31, 2024		1,887,595
Year ending December 31, 2025		1,600,000
Year ending December 31, 2026		400,000
Thereafter		—
	$	6,482,878