COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2022

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 three months ended March 31, 2022 and 2021 were as follows:

	For the Three Months Ended March 31,
	2022		2021
Cash used in operating leases	$	77,117	$	30,154
ROU assets obtained in exchange for new operating lease liabilities	$	—	$	1,082,684

ROU Lease Assets and Lease Liabilities

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

	March 31, 2022		December 31, 2021
Right of use assets, net	$	798,016	$	859,637
Short-term operating lease liabilities	$	246,920	$	247,325
Long-term operating lease liabilities		551,970		611,523
Total lease liabilities	$	798,890	$	858,848
Weighted average remaining lease term (in years)		3.09		3.32
Weighted average discount rate		8.5%		8.5%

Components of Lease Expenses

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

	For the Three Months Ended March 31,
	2022		2021
Operating lease expense	$	78,781	$	27,312
Short-term lease expense	$	59,887	$	391
Total operating lease costs	$	138,668	$	27,703

Future Lease Payments Included in Measurement of Lease Liabilities

Future lease payments included in the measurement of lease liabilities on the condensed consolidated balance sheet as of March 31, 2022, for the following five fiscal years and thereafter were as follows:

	March 31, 2022
2022	$	231,352
2023		286,670
2024		291,161
2025		85,726
2026		14,288
Thereafter		—
Total future minimum lease payments	$	909,197
Less imputed interest		(110,307	)
Total	$	798,890

Remaining Payment Obligations under these Licenses

The following table shows the remaining payment obligations under these licenses as of March 31, 2022:

	March 31, 2022
Year ending December 31, 2022	$	728,844
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		—
	$	6,357,878