General form of registration statement for all companies including face-amount certificate companies

COMMITMENTS AND CONTINGENCIES (Tables)

v3.23.4
COMMITMENTS AND CONTINGENCIES (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]    
Schedule of supplemental information related to leases
           
   

Nine Months Ended

September 30,

 
    2023     2022  
Lease cost:                
Operating lease cost   $ 586,228     $ 582,989  
Short-term lease cost   56,052     26,127  
                 
Other information:                
Operating cash outflow used for operating leases   505,664     323,750  
Weighted average discount rate     9.0 %     9.0 %
Weighted average remaining lease term   8.6 years       9.6 years  
             
    Year Ended December 31,  
    2022     2021  
Lease cost:                
Operating lease cost   $ 782,591     $ 414,085  
Short-term lease cost     33,751       21,628  
                 
Other information:                
Operating cash outflow used for operating leases     416,250       285,959  
Weighted average discount rate     9.0 %     9.0 %
Weighted average remaining lease term     9.5 years       10.4 years  
Schedule of future minimum lease payments
     
    Amount  
Calendar year:        
2023   $ 191,205  
2024     779,087  
2025     798,556  
2026     818,518  
2027     838,984  
Thereafter     4,043,427  
Total undiscounted future minimum lease payments     7,469,777  
Less: Impact of discounting     (2,384,618 )
Total present value of operating lease obligations     5,085,159  
Current portion     (774,306)  
Operating lease obligations, less current portion   $ 4,310,853  
       
 

As of

December 31, 2022

 
Fiscal year:        
   2023    $ 696,869  
   2024     779,087  
   2025     798,556  
   2026     818,518  
   2027     838,984  
   Thereafter     4,043,427  
      Total undiscounted future minimum lease payments     7,975,441  
Less: Impact of discounting     (2,735,629 )
Total present value of operating lease liability     5,239,812  
      Current portion     (696,869 )
Operating lease liability, less current portion   $ 4,542,943