v3.25.2
Note 8 - Leases
12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]

NOTE 8 LEASES

 

The Company’s corporate offices and other offices are located in Pittsburgh, Pennsylvania. The leases are effective through February 29, 2028.

 

Lease expense under operating lease arrangements, recorded within general and administrative expenses of continuing operations, was $784,873 and $783,090 for the years ended December 31, 2024, and 2023, respectively.

 

The following table summarizes other information related to the Company’s operating leases used in continuing operations:

 

   

December 31,

2024

   

December 31,

2023

 

Weighted average remaining lease term – operating leases in years

    3.16       4.17  

Weighted average discount rate – operating leases

    13 %     13 %

 

The Company’s operating lease obligations as of December 31, 2024, which include expected lease extensions that are reasonably certain of renewal, were as follows:

 

2025

    780,305  

2026

    803,724  

2027

    827,909  

2028

    139,022  

Total lease payments

    2,550,960  

Less: interest

    (437,552 )

Present value of lease liabilities

  $ 2,113,408