Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.24.3
COMMITMENTS AND CONTINGENCIES (Tables)
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of supplemental information related to leases
           
   

Nine Months Ended

September 30,

  
    2024     2023  
Lease cost:                
Operating lease cost   $ 586,228     $ 586,228  
Short-term lease cost   $ 16,477     $ 56,052  
                 
Other information:                
Operating cash outflow used for operating leases   $ 583,101     $ 505,664  
Weighted average discount rate     9.0 %     9.0 %
Weighted average remaining lease term     7.75 years       8.6 years  
Schedule of future minimum lease payments due under the operating lease
     
    Amount  
Calendar year:        
2024   $ 195,986  
2025     798,556  
2026     818,518  
2027     838,984  
2028     859,856  
Thereafter     3,183,571  
Total undiscounted future minimum lease payments     6,695,471  
Less: Impact of discounting     (1,940,223 )
Total present value of operating lease obligations     4,755,248  
Current portion, operating lease obligation     (793,658 )
Operating lease obligations, less current portion   $ 3,961,590