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Lease (Tables)
12 Months Ended
Dec. 31, 2023
Lease  
Summary of Right-of-use Asset and Lease Information

 

 

Years Ended

 

 

 

December 31,

 

 

 

2023

 

 

2022

 

The components of lease expense were as follows:

 

 

 

 

 

 

Operating lease cost

 

$70,830

 

 

$40,000

 

 

 

 

 

 

 

 

 

 

Supplemental cash flow information related to leases was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid for operating cash flows from operating leases

 

$79,528

 

 

$40,000

 

Right -of-use assets obtained upon acquisition

 

$161,665

 

 

$81,967

 

Summary of Supplemental Balance Sheet Information

 

 

December 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

Operating lease right-of-use asset

 

$129,683

 

 

$39,367

 

Summary of Future Minimum Lease Payments Under the Operating Lease Liability

 

 

 December 31,

 

 

 December 31,

 

 

 

2023

 

 

2022

 

Operating lease liabilities:

 

 

 

 

 

 

Current portion

 

$80,136

 

 

$39,367

 

Non-current portion

 

 

50,047

 

 

 

-

 

 

 

$130,183

 

 

$39,367

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases (year)

 

 

1.58

 

 

 

0.67

 

Weighted-average discount rate — operating leases

 

 

6.5%

 

 

5.5%
Summary of Maturity of Lease Liabilitis

2024

 

$85,792

 

2025

 

 

50,862

 

Thereafter

 

 

-

 

 

 

 

136,654

 

Less: Imputed interest

 

 

(6,471)

Operating lease liabilities

 

$130,183