Membership Agreement Obligation |
3 Months Ended | ||
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Mar. 31, 2025 | |||
Membership Agreement Obligation | |||
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 $ . Upon renewal, the Company opted for a month-to-month arrangement at $ per month. On February 28, 2025, the Company provided notice of its intent to exit the agreement after securing lower-cost facilities.
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