Leases (Tables)
|
6 Months Ended |
12 Months Ended |
Jun. 30, 2025 |
Dec. 31, 2024 |
| Leases |
|
|
| Schedule of Lease Cost and Right of Use Assets Related to Lease and Future Minimum Lease Payments |
|
Schedule
of Lease Cost and Right of Use Assets Related to Lease and Future Minimum Lease Payments
| | |
Year ended December 31, 2024 | | |
Year ended December 31, 2023 | |
| Operating lease cost | |
$ | - | | |
$ | - | |
| Short-term lease cost | |
| 258,477 | | |
| 315,615 | |
| Total Lease Cost | |
$ | 258,477 | | |
$ | 315,615 | |
| | |
| | | |
| | |
| ROU assets that are related to lease properties are presented as follows: | |
| | | |
| | |
| Beginning balance | |
$ | 859,861 | | |
$ | 1,016,198 | |
| Additions to right-of-use assets | |
| - | | |
| - | |
| Amortization charge for the year | |
| (156,337 | ) | |
| (156,337 | ) |
| Lease modifications | |
| - | | |
| - | |
| Ending balance | |
$ | 703,524 | | |
$ | 859,861 | |
| | |
| | | |
| | |
| Further information related to leases is as follows: | |
| | | |
| | |
| Weighted-average remaining lease term | |
| 2.42 Years | | |
| 3.42 Years | |
| Weighted-average discount rate | |
| 6.87 | % | |
| 6.87 | % |
|
| Schedule of Future Minimum Lease Payments |
|
Future minimum lease payments as of December 31, 2024 and December 31,
2023 are as follows:
Schedule of Future Minimum Lease Payments
| Year | |
| | |
| |
| Year one | |
| | | |
| | |
| 2024 | |
| - | | |
| 197,520 | |
| 2025 | |
| 217,925 | | |
| 217,925 | |
| 2026 | |
| 222,275 | | |
| 222,275 | |
| 2027 | |
| 226,705 | | |
| 226,705 | |
| 2028 | |
| 231,216 | | |
| 231,216 | |
| Year six | |
| 231,216 | | |
| 231,216 | |
| Thereafter | |
| 117,709 | | |
| 117,710 | |
| Total future minimum lease payments | |
$ | 1,015,830 | | |
$ | 1,213,351 | |
| Less: Imputed interest | |
| 140,996 | | |
| 205,358 | |
| Operating lease liabilities | |
$ | 874,834 | | |
$ | 1,007,993 | |
| Less: Current portion | |
| 161,952 | | |
| 132,546 | |
| Non-current portion of lease liabilities | |
$ | 712,882 | | |
$ | 875,447 | |
|
| Schedule of Lease Cost |
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:
Schedule
of Future Minimum Lease Payments
| 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 | |
| Thereafter | |
| | | |
| | |
| 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 | |
|
|