v3.26.1
Leases
6 Months Ended
Jun. 30, 2026
Leases  
Leases

Note 11 – Leases

 

As of June 30, 2026 and December 31, 2025, operating lease right-of-use assets were $529,194 and $663,635, respectively, and financed lease right-of-use assets were $0 as of both dates.

 

For the six months ended June 30, 2026 and 2025, we recorded $0 and $12,237, respectively, in amortization expense related to finance leases.

 

Rent expense related to operating leases was $83,461 and $83,456 for the three months ended June 30, 2026 and 2025, respectively, and $166,922 and $166,915 for the six months ended June 30, 2026 and 2025, respectively.

 

Cash paid for operating leases presented below includes payments for operating lease obligations as well as certain other lease-related charges, including common area maintenance charges, that are not included in rent expense.

 

Information related to our operating leases for the periods ended 2026 are as follows:

 

 

 

For the Three Months

Ended June 30,

 

 

For the Six Months

Ended June 30,

 

Cash paid for operating leases

 

$102,026

 

 

$180,310

 

Weighted-average remaining lease term

 

 

 

 

 

2.2 years

 

Weighted-average discount rate

 

 

 

 

 

 

10.5%

 

Minimum future lease payments ended June 30, 2026

 

 

 

2026 (remainder of year)

 

 

176,663

 

2027

 

 

237,867

 

2028

 

 

233,727

 

2029

 

 

19,525

 

 

 

 

667,782

 

Less imputed interest

 

 

(73,602)

Total lease liabilities

 

$594,180

 

Current portion

 

 254,724

 

Long-term portion

 

 339,456