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LEASES (Tables)
6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of Lease, Cost
Lease expense for operating leases is recognized on a straight-line basis over the lease term as either cost of sales or operating expenses depending on the nature of the leased asset. In connection with the Aero Divestiture, we entered into an agreement of one of our operating leases, resulting in savings of approximately $52,000 per month as reimbursed by buyer.
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Short-term lease expense$58,353 $68,368 $137,430 $126,675 
Operating lease expense800,893 568,157 1,358,498 1,140,497 
Total lease expense$859,246 $636,525 $1,495,928 $1,267,172 
Lease right-of-use assets consisted of the following:
June 30, 2024December 31, 2023
Operating leases$3,706,761 $4,174,800 
Finance leases5,520,803 5,621,181 
Total lease right-of-use assets$9,227,564 $9,795,981 
Schedule of Lease Liabilities
Lease liabilities consisted of the following:
June 30, 2024December 31, 2023
Operating leases$5,822,588 $6,292,954 
Finance leases2,253,866 2,548,184 
Total lease liabilities 8,076,454 8,841,138 
Less: current portion(3,028,889)(3,560,612)
Long-term portion$5,047,565 $5,280,526