LEASES (Tables)
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Schedule of Lease Balances Recorded in Balance Sheet
The Company has the following lease balances recorded on the consolidated balance sheets as follows:
Lease Assets and LiabilitiesClassificationDecember 31, 2021December 31, 2020
Finance lease right-of-use assetRight of use asset$15,033,000 $— 
Operating lease right-of-use assetOther assets46,897 51,294 
Total right of use assets$15,079,897 $51,294 
Operating lease liability - currentAccrued expenses and other liabilities$4,388 $3,650 
Operating lease liability - long-termOther liabilities45,403 49,791 
Finance lease liabilityLease liability13,043,499 $— 
Total lease liabilities$13,093,290 $53,441 
The Company has the following lease balances recorded on the condensed consolidated balance sheets as follows:
Lease Assets and LiabilitiesClassificationMarch 31, 2022December 31, 2021
Finance lease right-of-use asset, netRight of use asset$14,907,725 $15,033,000 
Operating lease right-of-use asset, netOther assets45,732 46,897 
Total right of use assets$14,953,457 $15,079,897 
Operating lease liability - currentAccrued expenses and other liabilities$4,585 $4,388 
Operating lease liability - long-termOther liabilities44,166 45,403 
Finance lease liabilityLease liability13,035,110 $13,043,499 
Total lease liabilities$13,083,861 $13,093,290 
Schedule of Supplemental Cash Flow Information Related to Operating Leases
The Company has the following lease costs recorded in the consolidated statements of operations as follows:
Year Ending December 31,
20212020
Finance lease cost:
Amortization of right-of-use assets$— $— 
Interest on lease liabilities— — 
Operating lease cost10,099 10,099 
Total lease cost$10,099 $10,099 
Other information
Cash paid for amounts included in the measurement of lease liabilities$— $— 
Operating cash flows from finance leases— — 
Operating cash flows from operating leases9,350 9,050 
Financing cash flows from finance leases— — 
Right-of-use assets and finance lease liabilities acquired with LINICO transaction (Note 2)15,033,000 — 
Weighted-average remaining lease term - finance leases0.75— 
Weighted-average remaining lease term - operating leases6.757.75
Weighted-average discount rate - finance leases6 %— %
Weighted-average discount rate - operating leases11 %11 %
The Company has the following lease costs recorded in the condensed consolidated statements of operations as follows:
Three Months Ended
March 31, 2022March 31, 2021
Finance lease cost:
Amortization of right-of-use assets$125,275 $— 
Interest on lease liabilities195,611 — 
Operating lease cost2,525 2,525 
Total lease cost$323,411 $2,525 
Other information
Operating cash flows from operating leases$9,350 $9,050 
Financing cash flows from finance leases$8,389 $— 
Weighted-average remaining lease term - finance leases0.50— 
Weighted-average remaining lease term - operating leases6.506.75
Weighted-average discount rate - finance leases6 %6 %
Weighted-average discount rate - operating leases11 %11 %
Schedule of Maturities of Lease Liabilities
Maturities of lease liabilities by fiscal year for the Company's operating lease is as follows:
20229,650 
20239,950 
202410,250 
202510,550 
Thereafter31,500 
Total lease payments71,900 
Less: Imputed interest at 11%
(22,109)
Present value of lease liabilities$49,791 
Minimum lease payments by fiscal year for the Company's operating lease is as follows:
For the remainder of 20227,250 
20239,950 
202410,250 
202510,550 
202610,850 
Thereafter20,650 
Total lease payments69,500 
Less: Imputed interest at 11%
(20,749)
Present value of operating lease liabilities$48,751 
Schedule of Lease Income
Maturities of lease payments for operating leases to others are as follows:
2021$180,025 
2022166,325 
202322,725 
202596,000 
Thereafter384,000 
Total Minimum Lease Income$849,075 
Minimum lease payments for operating leases to others are as follows:
For the remainder of 2022$139,450 
2023166,325 
202422,725 
202596,000 
202696,000 
Thereafter288,000 
Total Minimum Lease Income$808,500