v3.26.1
LEASES (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Schedule of Future Lease Payments of Operating Lease and Finance Lease
Future lease payments associated with these operating and financing leases as of June 30, 2026 are as follows:
20262027202820292030Other Future YearsTotal
Operating lease payments$263,518 $460,497 $250,606 $149,628 $— $— $1,124,249 
Financing lease payments435,932 581,242 274,736 27,508 — — 1,319,418 
Schedule of Lease Cost
The following table shows the weighted average remaining lease term and the weighted average discount rate for the Company's leases as of the dates indicated.
As of
June 30, 2026December 31, 2025
Operating leases
Weighted average remaining lease term (in years)
2.48
2.71
Weighted average discount rate
4.50%
4.50%
Finance leases
Weighted average remaining lease term (in years)
1.89
1.99
Weighted average discount rate
7.50%
7.50%
The following table provides supplemental information regarding lease costs in the Condensed Statements of Operations:
For the Three Months Ended
For the Six Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Operating lease costs$175,090 $175,090 $350,181 $350,181 
Short-term lease costs (1)
791,606 1,260,098 1,634,993 2,412,402 
Financing lease costs:
Amortization of financing lease assets (2)
213,472 238,618 406,909 503,405 
Interest on financing lease liabilities (3)
25,661 27,638 49,547 56,379 
(1)Amount included in Lease operating expenses
(2)Amount included in Depreciation, depletion and amortization
(3)Amount included in Interest (expense)
Schedule of Reconciliation Between the Undiscounted Future Cash Flows and the Operating and Financing Lease Liabilities
The following table represents a reconciliation between the undiscounted future cash flows in the table above and the operating and financing lease liabilities disclosed in the Condensed Balance Sheets:
As of
June 30, 2026December 31, 2025
Operating lease liability, current portion$491,796 $586,614 
Operating lease liability, non-current portion569,328 819,223 
Operating lease liability, total$1,061,124 $1,405,837 
Total undiscounted future cash flows (sum of future operating lease payments)1,124,249 1,497,380 
Imputed interest63,125 91,543 
Undiscounted future cash flows less imputed interest$1,061,124 $1,405,837 
Financing lease liability, current portion$693,432 $730,564 
Financing lease liability, non-current portion533,212 593,146 
Financing lease liability, total$1,226,644 $1,323,710 
Total undiscounted future cash flows (sum of future financing lease payments)1,319,418 1,428,999 
Imputed interest92,774 105,289 
Undiscounted future cash flows less imputed interest$1,226,644 $1,323,710 
Schedule of Gain (Loss) on Disposal of Assets
During the three and six months ended June 30, 2026 and 2025, the Company recorded a gain (loss) on disposal of assets, which was impacted by the sale of owned vehicles, as follows:
For the Three Months Ended
For the Six Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Sale of owned vehicles$81,008 $155,293 $81,008 $286,877 
Sale of leased vehicles23,142 — 23,142 (6,974)
Gain (loss) on disposal of assets$104,150 $155,293 $104,150 $279,903 
During the three and six months ended June 30, 2026 and 2025, the Company recorded a gain (loss) on disposal of assets, which was impacted by the sale of leased vehicles, as follows:

For the Three Months EndedFor the Six Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Sale of owned vehicles$81,008 $155,293 $81,008 $286,877 
Sale of leased vehicles23,142 — 23,142 (6,974)
Gain (loss) on disposal of assets$104,150 $155,293 $104,150 $279,903