NOTE 8 – LEASES The Company determines if an arrangement is a lease at inception. Operating leases are included in right-of-use assets (“ROU”), operating lease liabilities, current, and operating lease liabilities, non-current. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The components of lease expense included on the Company’s statements of operations were as follows: | | | | For the Three Months Ended March 31, | | | | Expense Classification | | 2026 | | | 2025 | | Operating Lease Expenses: | | | | | | | | | Amortization of ROU Assets | | General and Administrative | | $ | 11,549 | | | $ | 8,072 | | Accretion of Operating Lease Liabilities | | General and Administrative | | | 20,158 | | | | 9,311 | | Total Operating Lease Expenses | | | | $ | 31,707 | | | $ | 17,383 | |
Other information related to leases is as follows: | | As of | | | As of | | | | March 31, | | | December 31, | | | | 2026 | | | 2025 | | Weighted-Average Remaining Lease Term: Operating Leases (in Years) | | | 2.90 | | | | 2.99 | | | | | | | | | | | Weighted-Average Discount Rate: Operating Leases | | | 10.00 | % | | | 10.00 | % |
As of March 31, 2026, remaining maturities of lease liabilities were as follows: Remainder of 2026 | | | 34,119 | | 2027 | | | 69,492 | | 2028 | | | 45,492 | | 2029 | | | 45,492 | | 2030 | | | 45,492 | | 2031 and Thereafter | | | 320,238 | | Total Lease Payments | | | 560,325 | | Less Imputed Interest | | | (241,250 | ) | Present Value of Lease Liabilities | | | 319,075 | |
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