LEASES |
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||
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| LEASES | 11. LEASES
Office and Warehouse Leases and Sublease
The components of net operating lease expenses, recorded within operating expenses on the Company's condensed consolidated statements of operations for the three months ended March 31, 2026, and 2025, were as follows:
The Company entered a 5-year operating lease beginning January 1, 2026, for new office and warehouse space with periodic lease payments of approximately $32,000.
During the three months ended March 31, 2026, the Company entered a month-to-month sublease agreement with Gresham Worldwide, Inc. which is a related party. The sublease is for 38% of the Company’s office and warehouse space and has been recorded as a reduction in operating lease cost.
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