| Leases |
(9)
Leases
Operating
leases and finance leases as of June 30, 2026 and December 31, 2025 consisted of the following:
Schedule of Lease Assets and Liabilities
| | |
June 30, 2026 | | |
December 31, 2025 | |
| Operating leases | |
| | | |
| | |
| Assets | |
| | | |
| | |
| ROU operating lease assets | |
$ | 3,619,458 | | |
$ | 3,873,697 | |
| | |
| | | |
| | |
| Liabilities | |
| | | |
| | |
| Current portion of operating lease | |
$ | 524,310 | | |
$ | 499,072 | |
| Operating lease, net of current portion | |
| 3,371,568 | | |
| 3,640,491 | |
| Total operating lease liabilities | |
$ | 3,895,878 | | |
$ | 4,139,563 | |
| | |
| | | |
| | |
| Finance leases | |
| | | |
| | |
| Assets | |
| | | |
| | |
| Property and equipment, gross | |
$ | 80,426 | | |
$ | 80,426 | |
| Accumulated depreciation | |
| (48,548 | ) | |
| (41,848 | ) |
| Property and equipment, net | |
$ | 31,878 | | |
$ | 38,578 | |
| | |
| | | |
| | |
| Liabilities | |
| | | |
| | |
| Current portion of finance leases | |
$ | 16,203 | | |
$ | 17,646 | |
| Finance lease, net of current portion | |
| 14,143 | | |
| 21,386 | |
| Total finance leases | |
$ | 30,346 | | |
$ | 39,032 | |
The
weighted average remaining lease term and weighted average discount rate on June 30, 2026 are as follows:
Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate
| |
June 30,
2026 | |
| Weighted-average remaining lease term (years) | |
| | |
| Operating leases | |
| 6.57 | |
| Financing leases | |
| 2.25 | |
| Weighted-average discount rate | |
| | |
| Operating leases | |
| 6.23 | % |
| Financing leases | |
| 7.89 | % |
As
of June 30, 2026, future minimum lease payments under operating lease liabilities were as follows:
Schedule of Future Minimum Operating Lease Payments
| | |
| | |
| | |
| Amount | |
| 2026 (remaining) | |
$ | 372,911 | |
| 2027 | |
| 757,483 | |
| 2028 | |
| 779,311 | |
| 2029 | |
| 781,351 | |
| 2030 | |
| 510,606 | |
| Thereafter | |
| 1,470,323 | |
| Total operating lease payments | |
| 4,671,985 | |
| Less imputed interest | |
| (776,107 | ) |
| Total operating lease obligations | |
| 3,895,878 | |
| Less current operating lease obligations | |
| (524,310 | ) |
| Long-term operating lease obligations | |
$ | 3,371,568 | |
AmpliTech
Group, Inc.
Notes
To Condensed Consolidated Financial Statements
For
the Six Months Ended June 30, 2026 and 2025
(Unaudited)
As
of June 30, 2026, future minimum lease payments under finance leases were as follows:
Schedule of Future Minimum Lease Payments for Finance Lease
| | |
| | |
| | |
| Amount | |
| 2026 (remaining) | |
$ | 10,041 | |
| 2027 | |
| 12,094 | |
| 2028 | |
| 8,100 | |
| 2029 | |
| 3,375 | |
| Total finance lease payments | |
| 33,610 | |
| Less imputed interest | |
| (3,264 | ) |
| Total finance lease obligations | |
| 30,346 | |
| Less current finance lease obligations | |
| (16,203 | ) |
| Long-term finance lease obligations | |
$ | 14,143 | |
|