v3.25.1
Membership Agreement Obligation
3 Months Ended
Mar. 31, 2025
Membership Agreement Obligation  
Membership Agreement Obligation

 

7. Membership Agreement Obligation

 

On September 1, 2022, the Company entered into a revocable membership and licensing agreement with Saltbox Inc. for shared office and warehouse access in Seattle, WA. This agreement establishes a licensor-licensee relationship rather than a lease, and no lease liability or right-of-use asset is recorded. Initially, the agreement had a one-year term with monthly payments of $8,000. Upon renewal, the Company opted for a month-to-month arrangement at $9,000 per month. On February 28, 2025, the Company provided notice of its intent to exit the agreement after securing lower-cost facilities.