Right-of-Use Assets and Lease Liabilities

6 Months Ended

Jun. 30, 2025

Right-of-Use Assets and Lease Liabilities [Abstract]

Right-of-Use Assets and Lease Liabilities

7.	Right-of-Use Assets and Lease Liabilities

The Company leases several facilities and data centers under non-cancelable operating leases. Our leases have original lease periods expiring between 2025 and 2027. The lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

	As of June 30, 2025					As of December 31, 2024
			Accumulated					Accumulated
	Cost		Depreciation			Cost		Depreciation
Right-of-use assets	$	5,059,457	$	(2,715,532	)	$	4,109,922	$	(2,356,822	)
Net book value			$	2,343,925				$	1,753,100

Operating lease costs for the three months ended June 30, 2025 and 2024 was $308,999 and $314,855, respectively. Operating lease costs for the six months ended June 30, 2025 and 2024 was $549,603 and $637,368, respectively. These costs are included in general and administrative expenses in the condensed consolidated interim statements of operations.

Supplemental balance sheet information related to the operating lease liabilities is as follows:

As of

June 30,
2025

As of
December 31, 2024

Weighted-average remaining lease term

1.98 years

1.85 years

Weighted-average discount rate

7.67

7.26

The following shows the future minimum lease payments for the remaining years under the lease arrangement as of June 30, 2025.

2025	$	717,845
2026		1,312,237
2027		627,722
		2,657,804
Less: imputed interest		(242,496	)
		2,415,308
Current portion	$	1,223,850
Long-term portion	$	1,191,458

*	Imputed interest represents the difference between future cash flows and discounted cash flows.