LEASES

12 Months Ended

Dec. 31, 2024

LEASES

LEASES

NOTE 12 — LEASES

The following table depicts the Company’s future annual minimum leases payments as of December 31, 2024:

	Operating
	Leases
Consumer
2025	$	904,549
2026		951,460
2027		653,121
2028		417,959
2029		298,552
Thereafter		96,240
Total minimum lease payments		3,321,881
Less: imputed interest		(251,323)
Sub-total		3,070,558
Commercial
2025		1,321,299
2026		474,320
2027		33,454
2028		—
2029		—
Thereafter		—
Total minimum lease payments		1,829,073
Less: imputed interest		(51,737)
Sub-total		1,777,336
Total		4,847,894
Less: current portion		2,078,505
	$	2,769,389

All of the Company’s leased facilities as of December 31, 2024, are non-cancellable. The leases are a combination of triple net leases, for which the Company pays its proportionate share of common area maintenance, property taxes, and property

insurance, and modified gross leases, for which the Company directly pays for common area maintenance and property insurance.

The following table depicts supplemental cash flow information related to operating leases:

	Year Ended December 31,
	December 31, 2024		December 31, 2023
Non-cash activities: Right-of-use operating lease assets obtained in exchange for new operating lease liabilities	$	2,341,024	$	—

The following table depicts the Company’s leasing costs for the years ended December 31, 2024 and 2023:

	Year Ended December 31,
	December 31, 2024		December 31, 2023
Operating lease cost	$	2,105,065	$	1,911,766
Variable lease cost		807,961		834,793
Short-term lease cost		347,427		5,000
	$	3,260,453	$	2,751,559

As of December 31, 2024, the weighted average remaining lease term and weighted average discount rate for operating leases were 3.0 years and 3.9%. As of December 31, 2023, the weighted average remaining lease term and weighted average discount rate for operating leases were 2.0 years and 4.4%.