v3.26.1
Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases  
Lease cost

 

 

YEARS ENDED

 

 

 

DECEMBER 31,

 

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

Operating lease expense

 

$307,862

 

 

$16,684

 

 

 

 

 

 

 

 

 

 

Finance lease expense:

 

 

 

 

 

 

 

 

Amortization of right of use assets

 

$600,008

 

 

$673,108

 

Interest on finance lease liabilities

 

 

158,195

 

 

 

186,367

 

 

 

 

 

 

 

 

 

 

Total finance lease expense

 

$758,203

 

 

$859,475

 

Supplemental information related to leases

 

 

YEARS ENDED

 

 

 

DECEMBER 31,

 

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from leases

 

$466,057

 

 

$203,051

 

Financing cash flows from leases

 

 

580,233

 

 

 

636,455

 

 

 

 

 

 

 

 

 

 

Right of use assets obtained in exchange for lease obligations:

 

 

 

 

 

 

 

 

Operating leases

 

$542,232

 

 

$828,608

 

 

 

DECEMBER 31,

 

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

Lease right of use assets

 

$3,904,479

 

 

$4,183,561

 

Current portion of lease liabilities

 

 

751,233

 

 

 

735,152

 

Lease liabilities, net of current portion

 

 

3,930,495

 

 

 

4,200,019

 

 

 

 

 

 

 

 

 

 

Weighted average remaining lease term

 

 

 

 

 

 

 

 

Finance leases

 

 

8.3

 

 

 

8.5

 

Operating lease

 

 

4.2

 

 

 

4.3

 

Weighted average discount rate

 

 

 

 

 

 

 

 

Finance leases

 

 

3.5%

 

 

3.5%

Operating lease

 

 

7.3%

 

 

7.3%
Maturities of lease liabilities

 

 

Operating Leases

 

 

Finance Leases

 

2026

 

$318,321

 

 

$638,306

 

2027

 

 

329,004

 

 

 

633,663

 

2028

 

 

339,993

 

 

 

695,936

 

2029

 

 

170,831

 

 

 

296,986

 

2030

 

 

114,002

 

 

 

216,576

 

Thereafter

 

 

58,424

 

 

 

1,714,560

 

Total undiscounted  lease payments

 

 

1,330,575

 

 

 

4,196,027

 

Less: Imputed interest

 

 

184,712

 

 

 

660,162

 

Total lease liability

 

$1,145,863

 

 

$3,535,865