| LEASES |
9. LEASES The Company has lease arrangements for office space and copiers. A summary of supplemental lease information is as follows: | | | Six Months Ended | | | | | June 30,
2026 | | | June 30,
2025 | | | Weighted average remaining lease term – operating leases (in years) | | | 0.8 | | | | 1.8 | | | Weighted average remaining lease term – finance leases (in years) | | | 1.6 | | | | 2.6 | | | Weighted average discount rate – operating leases | | | 7.0 | % | | | 7.0 | % | | Weighted average discount rate – finance leases | | | 7.0 | % | | | 7.0 | % | | Operating cash flows from operating leases | | $ | 25,000 | | | $ | 63,259 | | | Operating cash flows from finance leases | | $ | 282 | | | $ | 424 | | A summary of the Company’s lease assets and liabilities are as follows: | | | June 30,
2026 | | | December 31,
2025 | | | Operating lease right-of-use asset | | $ | 69,290 | | | $ | 113,289 | | | Finance lease asset – property & equipment, net | | | 3,323 | | | | 5,689 | | | Total lease assets | | $ | 72,613 | | | $ | 118,978 | | | Current portion of operating lease liability | | $ | 73,444 | | | $ | 100,000 | | | Current portion of finance lease liability included in accrued expenses | | | 4,807 | | | | 4,807 | | | Non-current portion of operating lease liabilities | | | - | | | | 20,211 | | | Non-current portion of finance lease liabilities included in other non-current liabilities | | | 2,419 | | | | 4,540 | | | Total lease liabilities | | $ | 80,670 | | | $ | 129,558 | | A summary of the Company’s estimated operating lease payments are as follows: | Year | | | | | 2026 (1) | | $ | 50,000 | | | 2027 | | | 25,000 | | | Thereafter | | | - | | | Total future lease payments | | | 75,000 | | | Less: Imputed interest | | | 1,556 | | | Present value of lease liability | | $ | 73,444 | | | (1) | Excludes the six months ended June 30, 2026 |
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