v3.25.2
Leases (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Schedule of Components of Lease Expense

The components of lease expense included in the Company’s unaudited condensed statements of operations were as follows:

 

      For the Three Months Ended
March 31,		 
   Expense Classification  2025   2024 
Operating lease expense:           
Amortization of ROU asset  General and administrative  $41,757   $53,831 
Accretion of Operating lease liability  General and administrative   7,959    10,541 
Total operating lease expense     $49,716   $64,372 
              
Other lease expense  General and administrative   33,675    (2,026)
Total     $83,391   $62,346 

 

Other information related to leases is as follows:

 

   As of
March 31,		   As of
December 31,		 
   2025   2024 
Remaining lease term:        
Operating leases (in years)   8.63    8.77 
Discount rate:          
Operating leases   7.26%   7.25%

The components of lease expense included on the Company’s consolidated statements of operations were as follows:

 

   Expense Classification  For the Year Ended December 31, 
Operating lease expense:     2024   2023 
Amortization of ROU asset  General and administrative  $215,231   $132,138 
Accretion of Operating lease liability  General and administrative   45,613    25,667 
Total operating lease expense     $260,844   $157,805 
              
Other lease expense  General and administrative   61,408    28,012 
Total     $322,252   $185,817 

 

Other information related to leases is as follows:

 

   As of December 31, 
   2024   2023 
Remaining lease term:        
Operating leases (in years)   8.77    9.29 
Discount rate:          
Operating leases   7.25%   7.03%
Schedule of Amounts Relating to Leases were Presented on the Unaudited Condensed Balance Sheets

Amounts relating to leases were presented on the unaudited condensed Balance Sheets as of March 31, 2025 and December 31, 2024 in the following line items:

 

      As of
March 31,		   As of
December 31,		 
   Balance Sheet Classification  2025   2024 
Assets:           
Operating lease assets  Right-of-use assets  $1,802,006   $1,879,729 
              
Liabilities:             
Operating lease liabilities  Operating lease liabilities   163,193    183,981 
Operating lease liabilities  Operating lease liabilities, non-current   1,901,083    1,943,487 
Total lease liabilities     $2,064,276   $2,127,468 

Amounts relating to leases were presented on the consolidated balance sheets as of December 31, 2024 and 2023 in the following line items:

 

   Balance Sheet Classification  Year Ended December 31, 
Assets:     2024   2023 
Operating lease assets  Right-of-use assets  $1,879,729   $1,616,198 
              
Liabilities:             
Operating lease liabilities  Operating lease liabilities   183,981    141,691 
Operating lease liabilities  Operating lease liabilities, non-current   1,943,487    1,514,044 
Total lease liabilities     $2,127,468   $1,655,735 
Schedule of Future Minimum Lease Payments

The future minimum lease payments required under leases as of March 31, 2025, were as follows:

 

Fiscal Year  Operating
Leases		 
Remainder of 2025  $231,427 
2026   312,299 
2027   316,369 
2028   323,311 
2029   336,045 
Thereafter   1,332,103 
Undiscounted cash flows   2,851,554 
Less: imputed interest   (787,278)
Lease liability  $2,064,276 

The future minimum lease payments required under leases as of December 31, 2024, were as follows:

 

Fiscal Year  Operating
Leases		 
2025  $333,200 
2026   312,299 
2027   316,369 
2028   323,311 
2029   336,045 
Thereafter   1,332,102 
Undiscounted cash flows   2,953,326 
Less: imputed interest   (825,858)
Lease liability  $2,127,468