Quarterly report pursuant to Section 13 or 15(d)

Leases (Table)

v3.22.1
Leases (Table)
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Schedule of Lease, Cost
Lease expense for operating leases is recognized on a straight-line basis over the lease term as cost of sales or operating expenses depending on the nature of the leased asset.
Three Months Ended March 31,
2022 2021
Short-term lease expense $ 175,905  $ 123,515 
Operating lease expense 297,423  — 
Total lease expense $ 473,328  $ 123,515 
Lease right of use assets consisted of the following:
March 31, 2022 December 31, 2021
Operating leases $ 4,040,010  $ 1,538,852 
Finance leases 5,972,505  — 
Total lease right-of-use assets $ 10,012,515  $ 1,538,852 
Supplemental cash flow information related to leases where we are the lessee is as follows:
Three Months Ended March 31,
2022 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases $ 297,423  $ — 
Operating cash outflows from finance leases (interest payments) 120,727  — 
Financing cash outflows from finance leases 64,934  — 
Leased assets obtained in exchange for finance lease liabilities 2,614,533  — 
Leased assets obtained in exchange for operating lease liabilities 6,022,694  — 
Schedule of Lease Liabilities
Lease liabilities consisted of the following:
March 31, 2022 December 31, 2021
Operating leases $ 4,139,648  $ 1,554,767 
Finance leases 3,599,552  — 
Total lease liabilities 7,739,200  1,554,767 
Less: current portion (975,466) (363,714)
Long-term portion $ 6,763,734  $ 1,191,053