Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.22.1
Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Schedule Of Components of lease expense
       
Components of lease expense    
    Year Ended
December 31, 2021
Finance leases:        
Amortization of assets, included in depreciation and amortization expense   $ 1,125,267  
Interest on lease liabilities, included in interest expense     166,665  
Operating lease:        
Amortization of assets, included in total operating expense     144,813  
Interest on lease liabilities, included in total operating expense     19,415  
Total net lease cost   $ 1,456,160  
         
Supplemental balance sheet information related to leases was as follows        
         
Operating Leases        
         
Operating lease right-of-use asset   $ 422,318  
         
Current operating lease liabilities   $ 205,414  
Noncurrent operating lease liabilities     226,344  
Total operating lease liabilities   $ 431,758  

 

    December 31, 2021
Finance leases:        
Property and equipment, at cost   $ 4,531,418  
Accumulated amortization     (2,759,051 )
Property and equipment, net   $ 1,772,367  
         
Current obligations of finance leases   $ 522,078  
Finance leases, net of current obligations     1,056,092  
Total finance lease liabilities   $ 1,578,170  
Supplemental balance sheet information related to leases
         
    Year Ended December 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows related to operating leases   $ 179,684  
Financing cash flows related to finance leases   $ 1,125,265  
         
Weighted average remaining lease term (in years):        
Operating leases     2.40  
Finance leases     1.72  
         
Weighted average discount rate:        
Operating leases     5 %
Finance leases     7 %
Schedule Of Long-term obligations under the operating and Finance leases
               
For the Twelve Months Ended December 30,   Operating Leases   Finance Leases
2022   $ 214,150     $  1,007,897  
2023     169,770       568,493  
2024     63,983       102,146  
Total lease payments     447,903       1,678,536  
Less: Amounts representing interest     (16,145 )     (100,366 )
Total lease obligations     431,758       1,578,170  
Less: Current     (205,414 )     (1,056,092 )
    $ 226,344     $ 522,078