NOTE 8 — LEASE Management determined that the Company’s incremental borrowing rate is the risk free rate for the three-year treasury bond on the effective date. Components of lease expense are as follows: | | March 31, 2026 | | | December 31, 2025 | | Amortization of ROU Asset - operating lease | | $ | 27,524 | | | $ | 22,614 | | Interest in lease liabilities - operating lease | | | 249 | | | | 1,330 | | Lease expense | | | 5,160 | | | | 20,639 | | Total lease expense | | $ | 32,933 | | | $ | 44,583 | |
Supplemental balance sheet information related to leases is as follows: | | March 31, 2026 | | | December 31, 2025 | | Operating lease right-of-use assets, gross | | $ | 59,428 | | | $ | 59,428 | | Accumulated amortization | | | (27,524 | ) | | | (22,614 | ) | Operating lease right-of-use assets, net | | $ | 31,904 | | | $ | 36,814 | | Operating lease liabilities, current portion | | | 13,744 | | | | 13,605 | | Operating lease liabilities, non-current portion | | | 8,626 | | | | 12,115 | | Total Operating lease liabilities | | $ | 22,370 | | | $ | 25,720 | |
Future minimum lease payments are $23,144 as of March 31, 2026.
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