Leases |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Leases [Abstract] | |
| Leases |
12. Leases
The Company has one operating lease for its office space which was amended effective March 1, 2022 for a term of 38 months with no residual value guarantees or material restrictive covenants. The amended lease provided for free rent for the first of the lease and continues the security deposit of $6,000. In addition to base rental payments included in the contractual obligations table above, the Company is responsible for our pro-rata share of the operating expenses for the building. Our lease cost for the three-month periods ended March 31, 2026 and 2025 was approximately $16,000 and $13,000, respectively, for each period and is included in general and administrative expenses. In March 2025, the Company renewed its existing office space lease effective for twelve months, ending April 30, 2026, at substantially the same terms. As of March 31, 2026, the right to use lease asset consisted of $6,000 and is included in . Also, at March 31, 2026, current lease liability of $6,000 is included in . In April 2026, the Company renewed the lease for a minimum of twelve months and up to 36 months, at the Company’s option.
|