Leases (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Leases |
|
| Schedule of Balance Sheet Information Related to Leases |
The
following provides balance sheet information related to leases as of December 31, 2025 and 2024:
Schedule of Balance Sheet Information Related to Leases
| | |
2025 | | |
2024 | |
| Assets | |
| | | |
| | |
| Operating lease, right-of-use asset, net | |
$ | 75,595 | | |
$ | 239,985 | |
| Liabilities | |
| | | |
| | |
| Current portion of operating lease liabilities | |
$ | 78,539 | | |
$ | 190,814 | |
| Operating lease liabilities, net of current portion | |
| - | | |
| 52,843 | |
| Total operating lease liabilities | |
$ | 78,539 | | |
$ | 243,657 | |
|
| Schedule of Future Estimated Minimum Lease Payments Under Non-cancelable Operating Leases |
At
December 31, 2025, the future estimated minimum lease payments under non-cancelable operating leases are as follows:
Schedule of Future Estimated Minimum Lease Payments Under Non-cancelable Operating Leases
| | |
| | |
| Total minimum lease payments to be paid in 2026 | |
$ | 81,000 | |
| Less amount representing interest | |
| (2,461 | ) |
| Present value of future minimum lease payments | |
| 78,539 | |
| Less current portion of operating lease liabilities | |
| (78,539 | ) |
| Operating lease liabilities, net of current portion | |
$ | - | |
|
| Schedule of Reconciliation of Right-of-Use Assets and lease Liabilities |
The
following table provides a reconciliation for the Company’s right of use assets and lease liabilities:
Schedule of Reconciliation of Right-of-Use Assets and lease Liabilities
| | |
Right-of-Use Asset | | |
Operating Lease Liability | |
| Balance at January 1, 2024 | |
$ | 228,295 | | |
$ | 234,471 | |
| Early termination of operating leases | |
| (163,722 | ) | |
| (163,722 | |
| Operating right-of-use asset acquired through operating lease liability | |
| 348,623 | | |
| 348,623 | |
| Amortizations | |
| (173,211 | ) | |
| (175,715 | ) |
| Balance at December 31, 2024 | |
| 239,985 | | |
| 243,657 | |
| Early termination of operating leases | |
| (52,844 | ) | |
| (52,844 | ) |
| Operating right-of-use asset acquired through operating lease liability | |
| 78,351 | | |
| 78,351 | |
| Amortizations | |
| (189,897 | ) | |
| (190,625 | ) |
| Balance at December 31, 2025 | |
$ | 75,595 | | |
$ | 78,539 | |
|
| Schedule of Other Supplemental Information Related to Operating Leases |
Other
supplemental information related to operating leases is as follows:
Schedule of Other Supplemental Information Related to Operating Leases
| | |
| | | |
| | |
| | |
As of December 31, | |
| | |
2025 | | |
2024 | |
| Weighted average remaining term of operating leases (in years) | |
| 1.00 | | |
| 1.30 | |
| Weighted average discount rate of operating leases | |
| 6.75 | % | |
| 9.50 | % |
|
| Schedule of Lease Expense |
The
components of lease expense were approximately as follows for the years ended December 31, 2025 and 2024:
Schedule of Lease Expense
| | |
2025 | | |
2024 | |
| Operating lease cost | |
$ | 205,000 | | |
$ | 191,000 | |
| Short-term lease cost | |
| 24,000 | | |
| 19,000 | |
| Lease expense | |
$ | 229,000 | | |
$ | 210,000 | |
|