LEASES (Tables)
|
9 Months Ended |
Sep. 30, 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 three and nine months ended September 30, 2025 and 2024, are as follows:
SCHEDULE OF COMPONENTS OF LEASE EXPENSE
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| |
|
Three months ended
September 30,
|
|
|
Nine months ended
September 30,
|
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| Amortization of right-of-use asset - finance lease |
|
$ |
54,177 |
|
|
$ |
96,243 |
|
|
$ |
204,597 |
|
|
$ |
288,729 |
|
| Interest on lease liabilities - finance lease |
|
|
3,227 |
|
|
|
21,533 |
|
|
|
23,718 |
|
|
|
67,318 |
|
| Operating lease cost |
|
|
39,764 |
|
|
|
33,198 |
|
|
|
119,293 |
|
|
|
93,029 |
|
| Total lease cost |
|
$ |
97,168 |
|
|
$ |
150,974 |
|
|
$ |
347,608 |
|
|
$ |
449,076 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating cash flows from finance leases |
|
$ |
(58,031 |
) |
|
$ |
(91,038 |
) |
|
$ |
(251,272 |
) |
|
$ |
(270,143 |
) |
| Operating cash flows from operating leases |
|
|
(38,220 |
) |
|
|
(203 |
) |
|
|
(94,458 |
) |
|
|
(1,235 |
) |
|
| SCHEDULE OF BALANCE SHEET INFORMATION RELATING TO LEASES |
SCHEDULE OF BALANCE SHEET INFORMATION RELATING TO LEASES
| Operating leases: |
|
September 30, 2025 |
|
|
December 31, 2024 |
|
| Operating lease right-of-use, assets |
|
$ |
367,398 |
|
|
$ |
463,011 |
|
| Operating lease liability, current |
|
$ |
136,197 |
|
|
$ |
127,498 |
|
| Operating lease liability, non-current |
|
|
238,942 |
|
|
|
342,098 |
|
| Total operating lease liabilities |
|
$ |
375,139 |
|
|
$ |
469,596 |
|
| Finance leases: |
|
September 30, 2025 |
|
|
December 31, 2024 |
|
| Finance lease right-of-use asset, gross |
|
$ |
565,030 |
|
|
$ |
1,294,168 |
|
| Accumulated amortization |
|
|
(451,477 |
) |
|
|
(513,296 |
) |
| Finance lease right-of-use asset, net |
|
$ |
113,553 |
|
|
$ |
780,872 |
|
| Finance lease liability, current portion |
|
$ |
123,757 |
|
|
$ |
395,301 |
|
| Finance lease liability, long-term |
|
|
1,998 |
|
|
|
444,448 |
|
| Total finance lease liabilities |
|
$ |
125,755 |
|
|
$ |
839,749 |
|
| Weighted-average remaining lease term: |
|
September 30, 2025 |
|
|
December 31, 2024 |
|
| Operating leases (in years) |
|
|
3.22 |
|
|
|
4.21 |
|
| Finance leases (in years) |
|
|
0.64 |
|
|
|
2.39 |
|
| Weighted-average discount rate: |
|
September 30, 2025 |
|
|
December 31, 2024 |
|
| Operating leases |
|
|
7.32 |
% |
|
|
7.41 |
% |
| Finance leases |
|
|
7.85 |
% |
|
|
8.03 |
% |
|
| SCHEDULE OF FUTURE MINIMUM LEASE PAYMENT UNDER NON-CANCELLABLE |
Future
minimum lease payments under non-cancellable leases as of September 30, 2025, are as follows:
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENT UNDER NON-CANCELLABLE
| |
|
Operating Leases |
|
|
Finance
Leases
|
|
| Remaining for 2025 |
|
$ |
39,696 |
|
|
$ |
61,384 |
|
| 2026 |
|
|
159,282 |
|
|
|
67,425 |
|
| 2027 |
|
|
110,063 |
|
|
|
— |
|
| 2028 |
|
|
40,616 |
|
|
|
— |
|
| 2029 |
|
|
42,252 |
|
|
|
— |
|
| 2030 and thereafter |
|
|
28,919 |
|
|
|
— |
|
| Total undiscounted cash flows |
|
|
420,828 |
|
|
|
128,809 |
|
| Less discounting |
|
|
(45,689 |
) |
|
|
(3,054 |
) |
| Present value of lease liabilities |
|
$ |
375,139 |
|
|
$ |
125,755 |
|
|