| Schedule of Lease Expense |
Operating
right-of-use assets are summarized below.
| | |
As of
March 31,
2026 | | |
As of
March 9,
2026 | | |
As of
December 31,
2025 | |
| Office and Plane Leases | |
$ | — | | |
$ | 752,101 | | |
$ | 725,501 | |
| Less accumulated amortization | |
| — | | |
| (227,553 | ) | |
| (139,191 | ) |
| Right-of-use asset, net | |
$ | — | | |
$ | 524,548 | | |
$ | 586,310 | |
Operating
lease liabilities are summarized below
| | |
As of
March 31,
2026 | | |
As of
March 9,
2026 | | |
As of
December 31,
2025 | |
| Office and Plane Leases | |
$ | — | | |
$ | 507,910 | | |
$ | 567,423 | |
| Less: current portion | |
| — | | |
| (337,667 | ) | |
| (331,137 | ) |
| Long term portion | |
$ | — | | |
$ | 170,243 | | |
$ | 236,286 | |
The components of the lease
expense were as follows:
| | |
Three Months
Ended
March 31,
2026 | | |
Three Months
Ended
March 31,
2025 | |
| Operating lease cost | |
$ | 67,077 | | |
$ | 18,519 | |
| Short term lease cost | |
| - | | |
| - | |
| Total net lease cost | |
$ | 67,077 | | |
$ | 18,519 | |
|
Operating
right-of-use assets are summarized below.
| | |
As
of
December 31,
2025 | | |
As
of
December 31,
2024 | |
| Office and
Plane Leases | |
$ | 725,501 | | |
$ | 2,243,971 | |
| Less
accumulated amortization | |
| (139,191 | ) | |
| (610,764 | ) |
| Right-of-use
asset, net | |
$ | 586,310 | | |
$ | 1,633,207 | |
Operating
lease liabilities are summarized below
| | |
Year
Ended
December 31,
2025 | | |
Year
Ended
December 31,
2024 | |
| Office and
Plane Leases | |
$ | 567,423 | | |
$ | 1,822,053 | |
| Less:
current portion | |
| 331,137 | | |
| (547,439 | ) |
| Long
term portion | |
$ | 236,286 | | |
$ | 1,274,614 | |
The
components of the lease expense were as follows:
| | |
Year
Ended
December 31,
2025 | | |
Year
Ended
December 31,
2024 | |
| Operating lease
cost | |
$ | 162,862 | | |
$ | 488,047 | |
| Short
term lease cost | |
| 108,800 | | |
| - | |
| Total
lease cost | |
$ | 271,662 | | |
$ | 488,047 | |
Supplemental
cash flow and other information related to leases was as follows:
| | | Year Ended
December 31,
2025 | | | Year Ended
December 31,
2024 | | | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | | Operating lease payments | | $ | 162,862 | | | $ | 323,292 | | | Weighted average remaining lease term (in years): | | | 1.69 | | | | 6.25 | | | Weighted average discount rate: | | | 6.25 | % | | | 12.50 | % |
|