Annual report [Section 13 and 15(d), not S-K Item 405]

COMMITMENTS AND CONTINGENCIES (Tables)

v3.25.1
COMMITMENTS AND CONTINGENCIES (Tables)
 12 Months Ended
Dec. 31, 2024
Property Subject to Operating Lease [Member]  
Schedule of supplemental information related to leases
 Schedule of supplemental information related to leases            
    Year Ended December 31,  
    2024     2023  
Lease cost:                
Operating lease cost   $ 781,638     $ 781,638  
Short-term lease cost   $ 21,909     $ 63,770  
                 
Other information:                
Operating cash outflow used for operating leases   $ 779,087     $ 696,869  
Weighted average discount rate     9.0 %     9.0 %
Weighted average remaining lease term     7.5 years       8.5 years  
Schedule of future minimum lease payments due under the operating lease
     
    Amount  
Calendar year:        
2025   $ 798,556  
2026     818,518  
2027     838,984  
2028     859,856  
   Thereafter     3,183,571  
      Total undiscounted future minimum lease payments     6,499,485  
Less: Impact of discounting     (1,833,887 )
Total present value of operating lease obligation     4,665,598  
      Current portion     (798,556 )
Operating lease obligation, less current portion   $ 3,867,042  
Master Lease Agreement [Member]  
Schedule of supplemental information related to leases
           
    Year Ended December 31,  
    2024     2023  
Lease cost:                
Master Lease Agreement cost   $ 3,900     $ —  
Short-term lease cost   $ 367,451     $ —  
                 
Other information:                
Operating cash outflow used for operating leases   $ 3,900     $ —  
Weighted average discount rate     8.63 %     —  
Weighted average remaining lease term     5.4 years       —  
Schedule of future minimum lease payments due under the operating lease
     
    Amount  
Calendar year:        
2025   $ 367,451  
2026     527,777  
2027     527,777  
2028     527,777  
   Thereafter     703,702  
      Total undiscounted future minimum lease payments     2,654,484  
Less: Impact of discounting     (562,429 )
Total present value of MLA obligation     2,092,057  
      Current portion     (367,451 )
MLA, less current portion   $ 1,724,604