Lessee Leases (Tables)
|
9 Months Ended |
Sep. 30, 2023 |
|---|
| Leases [Abstract] |
|
| Schedule of lease costs recognized in consolidated statements of operations |
Lease
costs recognized in our consolidated statements of operations is summarized as follows:
Schedule
of lease costs recognized in consolidated statements of operations
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| |
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| Operating lease cost included in cost of goods |
|
$ |
- |
|
|
$ |
976 |
|
|
$ |
- |
|
|
$ |
16,904 |
|
| Operating lease cost included in operating costs |
|
|
18,398 |
|
|
|
7,500 |
|
|
|
60,256 |
|
|
|
22,200 |
|
| Total operating lease cost (1) |
|
|
18,398 |
|
|
|
8,476 |
|
|
|
60,256 |
|
|
|
39,104 |
|
| Finance lease cost, included in cost of goods: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of lease assets |
|
|
104,383 |
|
|
|
54,855 |
|
|
|
269,470 |
|
|
|
149,687 |
|
| Interest on lease liabilities |
|
|
23,394 |
|
|
|
7,258 |
|
|
|
56,450 |
|
|
|
21,116 |
|
| Total finance lease cost |
|
|
127,777 |
|
|
|
62,113 |
|
|
|
325,920 |
|
|
|
170,803 |
|
| Short-term lease cost |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Total lease cost |
|
$ |
146,175 |
|
|
$ |
70,589 |
|
|
$ |
386,176 |
|
|
$ |
209,907 |
|
| |
(1) |
Right
of use asset amortization under operating agreements was $15,661 and $7,214 for the three months ended September 30, 2023 and 2022,
respectively. Right of use asset amortization under operating agreements was $46,289 and $32,847 for the nine months ended September
30, 2023 and 2022, respectively. |
|
| Schedule of other information about lease amounts recognized in Condensed Consolidated Financial Statements |
Other
information about lease amounts recognized in our condensed consolidated financial statements is summarized as follows:
Schedule
of other information about lease amounts recognized in Condensed Consolidated Financial Statements
| |
|
September 30,
2023 |
|
|
December 31,
2022 |
|
| Weighted-average remaining lease term – operating leases |
|
|
4.01 years |
|
|
|
4.75 years |
|
| Weighted-average remaining lease term – finance leases |
|
|
3.49 years |
|
|
|
4.63 years |
|
| Weighted-average discount rate – operating leases |
|
|
6.0 |
% |
|
|
6.0 |
% |
| Weighted-average discount rate – finance leases |
|
|
7.5 |
% |
|
|
5.5 |
% |
|
| Schedule of finance lease liabilities |
Finance
lease liabilities were as follows:
Schedule
of finance lease liabilities
| |
|
September 30,
2023 |
|
|
December 31,
2022 |
|
| Gross finance lease liabilities |
|
$ |
1,696,301 |
|
|
$ |
897,849 |
|
| Less: imputed interest |
|
|
(207,418 |
) |
|
|
(89,939 |
) |
| Present value of finance lease liabilities |
|
|
1,488,883 |
|
|
|
807,910 |
|
| Less: current portion |
|
|
(419,073 |
) |
|
|
(232,058 |
) |
| Long-term finance lease liabilities |
|
$ |
1,069,810 |
|
|
$ |
575,852 |
|
|
| Schedule of operating lease liabilities |
Operating
lease liabilities were as follows:
Schedule
of operating lease liabilities
| |
|
September 30,
2023 |
|
|
December 31,
2022 |
|
| Gross operating lease liabilities |
|
$ |
366,918 |
|
|
$ |
428,946 |
|
| Less: imputed interest |
|
|
(43,043 |
) |
|
|
(58,782 |
) |
| Present value of operating lease liabilities |
|
|
323,875 |
|
|
|
370,164 |
|
| Less: current portion |
|
|
(67,804 |
) |
|
|
(62,861 |
) |
| Long-term operating lease liabilities |
|
$ |
256,071 |
|
|
$ |
307,303 |
|
|
| Schedule of lease maturities |
Maturity
of lease liabilities
Schedule of lease maturities
| 12 months ending September 30, |
|
Finance leases |
|
|
Operating leases |
|
| 2024 |
|
$ |
419,073 |
|
|
$ |
67,804 |
|
| 2025 |
|
|
424,735 |
|
|
|
74,860 |
|
| 2026 |
|
|
388,723 |
|
|
|
82,475 |
|
| 2027 |
|
|
251,571 |
|
|
|
90,670 |
|
| 2028 |
|
|
4,781 |
|
|
|
8,066 |
|
| Total |
|
|
1,488,883 |
|
|
|
323,875 |
|
| Less: Current maturities |
|
|
(419,073 |
) |
|
|
(67,804 |
) |
| Long-term liability |
|
$ |
1,069,810 |
|
|
$ |
256,071 |
|
|