LEASES (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Leases |
|
| SCHEDULE OF COMPONENTS OF LEASE EXPENSE |
The
components of lease expense, which are included in selling, general and administrative expense and depreciation and amortization for
the years ended December 31, 2025 and 2024 are as follows:
SCHEDULE OF COMPONENTS OF LEASE EXPENSE
| Components of lease expense: |
|
2025 |
|
|
2024 |
|
| Amortization of right-of-use assets - finance lease |
|
$ |
275,533 |
|
|
$ |
384,971 |
|
| Interest on lease liabilities - finance lease |
|
|
34,935 |
|
|
|
83,041 |
|
| Operating lease cost |
|
|
159,057 |
|
|
|
93,029 |
|
| Total lease cost |
|
$ |
469,525 |
|
|
$ |
561,041 |
|
| |
|
|
|
|
|
|
|
|
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
|
|
| Operating cash flows from finance leases |
|
$ |
324,346 |
|
|
$ |
361,181 |
|
| Operating cash flows from operating leases |
|
|
157,368 |
|
|
|
133,605 |
|
|
| SCHEDULE OF BALANCE SHEET INFORMATION RELATING TO LEASES |
SCHEDULE OF BALANCE SHEET INFORMATION RELATING TO LEASES
| Operating leases: |
|
2025 |
|
|
2024 |
|
| Operating lease right-of-use assets |
|
$ |
334,289 |
|
|
$ |
463,011 |
|
| Operating lease liability, current |
|
$ |
139,220 |
|
|
$ |
127,498 |
|
| Operating lease liability, non-current |
|
|
202,878 |
|
|
|
342,098 |
|
| Total operating lease liabilities |
|
$ |
342,098 |
|
|
$ |
469,596 |
|
| Financing leases: |
|
2025 |
|
|
2024 |
|
| Financing lease right-of-use assets, gross |
|
$ |
1,184,598 |
|
|
$ |
1,294,168 |
|
| Accumulated amortization |
|
|
(523,023 |
) |
|
|
(513,296 |
) |
| Finance lease right-of-use assets, net |
|
$ |
661,575 |
|
|
$ |
780,872 |
|
| Financing lease liability, current |
|
$ |
139,490 |
|
|
$ |
395,301 |
|
| Financing lease liability, non-current |
|
|
532,759 |
|
|
|
444,448 |
|
| Total finance lease liabilities |
|
$ |
672,249 |
|
|
$ |
839,749 |
|
| Weighted-average remaining lease term: |
|
2025 |
|
|
2024 |
|
| Operating leases (in years) |
|
|
3.04 |
|
|
|
4.21 |
|
| Finance leases (in years) |
|
|
6.18 |
|
|
|
2.39 |
|
| Weighted-average discount rate: |
|
2025 |
|
|
2024 |
|
| Operating leases |
|
|
7.28 |
% |
|
|
7.41 |
% |
| Finance leases |
|
|
6.86 |
% |
|
|
8.03 |
% |
|
| SCHEDULE OF FUTURE MINIMUM LEASE PAYMENT UNDER NON-CANCELLABLE |
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENT UNDER NON-CANCELLABLE
| |
|
Operating
Leases |
|
|
Finance
Leases |
|
| 2026 |
|
$ |
159,282 |
|
|
$ |
179,133 |
|
| 2027 |
|
|
110,065 |
|
|
|
111,708 |
|
| 2028 |
|
|
40,616 |
|
|
|
111,708 |
|
| 2029 |
|
|
42,252 |
|
|
|
111,708 |
|
| 2030 |
|
|
28,919 |
|
|
|
111,708 |
|
| 2031
and thereafter |
|
|
— |
|
|
|
201,495 |
|
| Total
undiscounted cash flows |
|
|
381,134 |
|
|
|
827,460 |
|
| Less
discounting |
|
|
(39,036 |
) |
|
|
(155,211 |
) |
| Present
value of lease liabilities |
|
$ |
342,098 |
|
|
$ |
672,249 |
|
|