OPERATING LEASE ROU ASSETS AND LIABILITIES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

OPERATING LEASE ROU ASSETS AND LIABILITIES

NOTE 8 – OPERATING LEASE ROU ASSETS AND LIABILITIES

The Company leases storage and office space, information technology equipment, and certain machinery and equipment used in the operation of the Company's coal refuse power generation facilities.

The gross value of operating lease ROU assets and the related accumulated amortization totaled $3,003,705 and $1,530,958, respectively, in the consolidated balance sheet as of December 31, 2023.

The current and noncurrent portions of the Company's operating lease liabilities as of December 31, 2023, were as follows:

	December 31, 2023
Current portion of operating lease liabilities	$	788,706
Long-term operating lease liabilities	776,079
Total operating lease liabilities	$	1,564,785

Future operating lease payments for each of the next five years as of December 31, 2023, are as follows:

Years ending December 31:
2024	$	917,971
2025	613,026
2026	226,557
2027	—
2028 and thereafter	—
Total operating lease payments (undiscounted)	1,757,554
Less: amount representing interest	(192,769)
Total operating lease payments (discounted)	$	1,564,785

For the years ended December 31, 2023, and 2022, total operating lease costs amounted to $628,885 and $731,924, respectively. At December 31, 2023, the weighted-average remaining lease term approximated 1.95 years, and the weighted-average discount rate approximated 7.75%. Cash paid for amounts included in the measurement of operating lease liabilities totaled $496,998 for the year ended December 31, 2023, and was classified as operating cash flows in the consolidated statement of cash flows for the year then ended.