v3.25.2
Leases (Tables)
6 Months Ended
Jun. 30, 2025
Leases  
Schedule of Lease Cost

 

   2025   2024   2025   2024 
   Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2025   2024   2025   2024 
Operating lease cost  $63,185   $64,198   $124,191   $133,635 
Schedule of Right of Use Assets

The following represents the activity for the Company’s operating lease:

 

 Schedule of Right of Use Assets

  

June 30,

2025

  

December 31,

2024

 
ROU assets that are related to lease properties are presented as follows:          
Beginning balance  $703,524   $859,861 
Amortization charge for the period   (78,169)   (156,337)
Ending balance  $625,355   $703,524 
           
Other information relating to the operating lease is as follows:          
           
Weighted average remaining lease term in years   4.0    2.4 
Weighted average discount rate   6.9%   6.9%
Schedule of Future Minimum Lease Payments

Future minimum lease payments as of June 30, 2025 and December 31, 2024 are as follows:

 

Year 

June 30,

2025

  

December 31,

2024

 
2025  $109,143   $217,925 
2026   222,275    222,275 
2027   226,705    226,705 
2028   231,216    231,216 
2029   117,709    117,709 
Total future minimum lease payments   907,048    1,015,830 
Less: Imputed interest   112,555    140,996 
Operating lease liabilities   794,493    874,834 
Less: current portion   174,319    161,952 
Non-current portion of lease liability  $620,174   $712,882