Note 9 – Leases

The Company has entered into a series of short-term office sublease agreements with Eureka:

The Company’s office lease agreements do not contain any material residual value guarantees or material restrictive covenants. The agreements were classified as operating leases.

The Company elected not to apply the right-of-use asset and lease liability recognition requirements to the above short-term leases in accordance with ASC 842-20-25-2, as each lease term is less than twelve months. Accordingly, the Company continues to recognize the lease monthly payments in profit or loss on a straight-line basis over the remaining lease term period.

Rent expense for the three months ended March 31, 2026 and 2025 was $6,000.