v3.26.1
Leases
12 Months Ended
Dec. 31, 2025
Leases  
Leases

Note 3. Leases

The Company classifies the lease for its office space as an operating lease, and records a related right-of-use lease asset and lease liability accordingly. Pursuant to an amendment in May 2025, the lease has been extended through October 2028. The current rent is $11,625 per month through October 2026. It increases to $11,883 in November 2026 and to $12,142 in November 2027 where it remains until expiration.

The following represents a reconciliation of contractual lease cash flows to the right-of-use lease asset and liability recognized in the financial statements:

Operating

  ​ ​ ​

Lease

  ​ ​ ​

Contractual cash payments for the remaining lease term as of December 31, 2025

2026

$

140,017

2027

143,117

2028

121,416

Less implied interest

(46,406)

Total

$

358,144

Discount rate applied

 

8.47%

Remaining lease term (months) as of December 31, 2025

 

34

Lease expense for the year ended December 31, 2024:

 

  ​

Lease expense

$

136,022

Total

$

136,022

Lease expense for the year ended December 31, 2025:

Lease expense

$

139,781

Total

$

139,781