Quarterly report pursuant to Section 13 or 15(d)

Leases (Table)

v3.22.2
Leases (Table)
6 Months Ended
Jun. 30, 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 June 30, Six Months Ended June 30,
2022 2021 2022 2021
Short-term lease expense $ 248,103  $ 226,268  $ 424,008  $ 349,783 
Operating lease expense 465,544  —  762,967  — 
Total lease expense $ 713,647  $ 226,268  $ 1,186,975  $ 349,783 
Lease right-of-use assets consisted of the following:
June 30, 2022 December 31, 2021
Operating leases $ 5,743,960  $ 1,538,852 
Finance leases 5,922,316  — 
Total lease right-of-use assets $ 11,666,276  $ 1,538,852 
Supplemental cash flow information related to leases where we are the lessee is as follows:
Six Months Ended June 30,
2022 2021
Cash paid for amounts included in the measurement of lease liabilities:
Leased assets obtained in exchange for finance lease liabilities 6,022,694  — 
Leased assets obtained in exchange for operating lease liabilities 5,024,284  — 
Schedule of Lease Liabilities
Lease liabilities consisted of the following:
June 30, 2022 December 31, 2021
Operating leases $ 6,540,730  $ 1,554,767 
Finance leases 3,452,506  — 
Total lease liabilities 9,993,236  1,554,767 
Less: current portion (1,050,585) (363,714)
Long-term portion $ 8,942,651  $ 1,191,053