LEASES

9 Months Ended

Sep. 30, 2024

LEASES

LEASES

NOTE 12 — LEASES

The following table depicts the Company’s future minimum lease payments as of September 30, 2024:

	Operating
	Leases
Consumer
2024	$	189,715
2025		756,159
2026		745,690
2027		440,662
2028		279,090
Thereafter		209,632
Total minimum lease payments		2,620,948
Less: imputed interest		(161,050)
Sub-total		2,459,898
Commercial
2024		349,822
2025		1,321,299
2026		474,320
2027		33,454
2028		—
Thereafter		—
Total minimum lease payments		2,178,894
Less: imputed interest		(70,829)
Sub-total		2,108,065
Total		4,567,963
Less: current portion		2,020,122
	$	2,547,841

All of the Company’s leased facilities as of September 30, 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. Lease costs are comprised of a combination of minimum lease payments and variable lease costs.

Lease costs for the three months ended September 30, 2024 and 2023 were $846,602 and $686,354, respectively. Lease costs for the nine months ended September 30, 2024 and 2023 were $2,399,239 and $2,048,238, respectively.

As of September 30, 2024, the weighted average remaining lease term and weighted average discount rate for operating leases were 2.8 years and 3.7%. As of September 30, 2023, the weighted average remaining lease term and weighted average discount rate for operating leases were 2.3 years and 4.4%.