| Schedule of Right-of Use Asset and Lease Information about Operating Lease |
The
following summarizes the ROU lease expense components and cash flow information for the Company’s operating leases:
Schedule of Right-of Use Asset and Lease Information about Operating Lease
| | |
2024 | | |
2023 | | |
2024 | | |
2023 | |
| | |
Three Months Ended | | |
Nine Months Ended | |
| | |
September 30, | | |
September 30, | |
| | |
2024 | | |
2023 | | |
2024 | | |
2023 | |
| Operating lease cost | |
$ | 22,947 | | |
$ | 40,491 | | |
$ | 68,841 | | |
$ | 83,230 | |
| Variable lease cost | |
| 10,440 | | |
| 10,408 | | |
| 30,817 | | |
| 13,723 | |
| Sublease income | |
| (2,163 | ) | |
| (2,135 | ) | |
| (6,489 | ) | |
| (6,377 | ) |
| Total lease cost | |
$ | 31,224 | | |
$ | 48,764 | | |
$ | 93,169 | | |
$ | 90,576 | |
| Cash paid for operating cash flows from operating leases | |
$ | 23,156 | | |
$ | 31,113 | | |
$ | 68,345 | | |
$ | 73,884 | |
| Right-of-use assets obtained in exchange for new operating lease liability | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | 365,556 | |
|
The
following summarizes the right-of use asset and lease information for the Company’s operating leases:
Schedule of Right-of Use Asset and Lease Information about Operating Lease
| | |
2023 | | |
2022 | |
| | |
Years Ended | |
| | |
December 31, | |
| | |
2023 | | |
2022 | |
| | |
| | |
| |
| Operating lease cost | |
| 112,022 | | |
| 70,175 | |
| Variable lease cost | |
| 24,222 | | |
| — | |
| Sublease income | |
| (7,819 | ) | |
| (7,070 | ) |
| Total lease cost | |
| 128,425 | | |
| 63,105 | |
| | |
| | | |
| | |
| Other information | |
| | | |
| | |
| Operating cash flows from operating leases | |
| 95,641 | | |
| 76,248 | |
| Right-of-use assets obtained in exchange for new operating lease liabilities | |
| 365,556 | | |
| — | |
| | |
| | | |
| | |
| Weighted-average remaining lease term - operating leases (year) | |
| 4.67 | | |
| 0.80 | |
| Weighted-average discount rate - operating leases | |
| 10.48 | % | |
| 10 | % |
|
| Schedule of Future Non-cancelable Minimum Lease Payments Under Operating Lease Liability |
Future
non-cancelable minimum lease payments under the operating lease liability as of September 30, 2024, are as follows:
Schedule of Future Non-cancelable Minimum Lease Payments Under Operating Lease Liability
| Years Ended December 31, | |
| |
| 2024 (excluding the nine months ended September 30, 2024) | |
$ | 23,156 | |
| 2025 | |
| 94,247 | |
| 2026 | |
| 97,074 | |
| 2027 | |
| 99,986 | |
| 2028 | |
| 68,235 | |
| 2028 | |
| | |
| Total future minimum lease payments | |
$ | 382,698 | |
| Less imputed interest | |
| (68,441 | ) |
| Present value of payments | |
$ | 314,257 | |
|
Future
non-cancelable minimum lease payments under the operating lease liability as of December 31, 2023, are as follows:
Schedule
of Future Non-cancelable Minimum Lease Payments Under Operating Lease Liability
| Years ended December 31, | |
| |
| Remainder of fiscal year | |
| | |
| 2024 | |
$ | 91,502 | |
| 2025 | |
| 94,247 | |
| 2026 | |
| 97,074 | |
| 2027 | |
| 99,986 | |
| 2028 | |
| 68,235 | |
| Total future minimum lease payments | |
| 451,044 | |
| Less: imputed interest | |
| (94,438 | ) |
| Present value of payments | |
$ | 356,606 | |
|