Summary of Significant Accounting Policies (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Summary of Significant Accounting Policies [Abstract] |
|
| Schedule of Fair Value Hierarchy of its Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The following table represents the Company’s
fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2025 and 2024.
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Description | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Level 1 | | |
Level 2 | | |
Level 3 | |
| Interest rate swap asset | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | 44,581 | | |
$ | — | |
| Interest rate swap liability | |
$ | — | | |
$ | 77,328 | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
|
| Schedule of Information Regarding the Interest Rate Swap |
Information regarding the interest rate swap is
as follows:
| Description | | Notional
Amount on
December 31,
2025 | | | Interest
Rate | | | Maturity | | | Fair Value of
Liability on
December 31,
2025 | | | Fair Value of
Asset on
December 31,
2024 | | | December 10, 2022 interest rate swap | | $ | 4,372,231 | | | | 7.65 | % | | | December 10, 2032 | | | $ | 77,328 | | | $ | 44,581 | |
|
| Schedule of Contract Liabilities Activities |
During the years ended December 31, 2025 and 2024, contract liabilities
activities were as follows:
| | |
Year Ended
December 31,
2025 | | |
Year Ended
December 31,
2024 | |
| Balance at beginning of period | |
$ | 318,951 | | |
$ | 346,176 | |
| Rental payments received in advance | |
| 55,392 | | |
| 54,836 | |
| Accretion of contract liabilities to revenue | |
| (72,061 | ) | |
| (82,061 | ) |
| Balance at end of period | |
$ | 302,282 | | |
$ | 318,951 | |
|
| Schedule of Basic and Diluted Net Income (Loss) Per Common Share |
The following table presents a reconciliation
of basic and diluted net income (loss) per common share:
| | |
Years Ended
December 31, | |
| | |
2025 | | |
2024 | |
| Net (loss) income per common share - basic: | |
| | |
| |
| Net (loss) income | |
$ | (2,854,415 | ) | |
$ | 573,958 | |
| Less: undistributed (earnings) loss allocated to participating securities | |
| - | | |
| - | |
| Net (loss) income allocated to common stockholders | |
$ | (2,854,415 | ) | |
$ | 573,958 | |
| Weighted average common shares outstanding – basic | |
| 12,053,715 | | |
| 12,098,429 | |
| Net (loss) income per common share – basic | |
$ | (0.24 | ) | |
$ | 0.05 | |
| | |
| | | |
| | |
| Net (loss) income per common share - diluted: | |
| | | |
| | |
| Net (loss) income allocated to common shareholders – basic | |
$ | (2,854,415 | ) | |
$ | 573,958 | |
| Add: interest of convertible debt | |
| - | | |
| 120,000 | |
| Numerator for net (loss) income per common share – basic | |
$ | (2,854,415 | ) | |
$ | 693,958 | |
| | |
| | | |
| | |
| Weighted average common shares outstanding – basic | |
| 12,053,715 | | |
| 12,098,429 | |
| Add: dilutive shares related to: | |
| | | |
| | |
| Stock options | |
| - | | |
| - | |
| Convertible debt | |
| - | | |
| 400,000 | |
| Weighted average common shares outstanding – diluted | |
| 12,053,715 | | |
| 12,498,429 | |
| Net (loss) income per common share – diluted | |
$ | (0.24 | ) | |
$ | 0.06 | |
|
| Schedule of Diluted Net Loss Per Share |
The following potentially dilutive shares have
been excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive for the years ended December 31,
2025 and 2024.
| | |
December 31, | |
| | |
2025 | | |
2024 | |
| Convertible debt | |
| 400,000 | | |
| - | |
| Stock options | |
| 1,565,000 | | |
| 2,367,500 | |
| | |
| 1,965,000 | | |
| 2,367,500 | |
|