COMMITMENTS AND CONTINGENCIES |
6 Months Ended | |||||||||||||||||||||||||
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Jun. 30, 2025 | ||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||
| COMMITMENTS AND CONTINGENCIES | NOTE 8: COMMITMENTS AND CONTINGENCIES
Litigation
From time to time, the Company could become involved in disputes and various litigation matters that arise in the normal course of business. These may include disputes and lawsuits related to intellectual property, licensing, contract law and employee relations matters. Periodically, the Company reviews the status of significant matters, if any exist, and assesses its potential financial exposure. If the potential loss from any claim or legal claim is considered probable and the amount of such potential loss can be estimated, the Company accrues liability for the estimated loss. Legal proceedings are subject to uncertainties and the outcomes are difficult to predict. Because of such uncertainties, accruals are based on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability related to pending claims and litigation.
Leases
Future minimum annual lease payments and a reconciliation to the Company’s operating lease liability under the Company’s non-cancelable operating lease as of June 30, 2025 were as follows:
The Company recognized rent expense of $50,924 in each of the six months ended June 30, 2025 and 2024 respectively. The Company recognized rent expense of $25,462 during each of the three months ended June 30, 2025 and 2024, respectively. Total cash payments for the operating lease totaled $52,117 and $50,600 during the six months ended June 30, 2025 and 2024, respectively.
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