Lease

6 Months Ended

Jun. 30, 2026

NOTE 7 – LEASE

As of June 30, 2026 and December 31, 2025, the Company holds a five-year lease for laboratory and office space expiring in September 2026. The lease has escalating contractual rent and variable rent components and the Company elected to separate the contractual and variable elements for valuing the operating lease liability and right-of-use asset. The lease does not have any options for extension or expansion. On December 30, 2025 and effective on January 1, 2026, the Company entered into a license agreement to sublease a portion of its leased space to the sublessee for $25,000 per month on a monthly basis. In connection with license agreement, in January 2026, the Company collected a $25,000 security deposit, which is included in accrued liabilities on the accompanying unaudited condensed consolidated balance sheet as of June 30, 2026. The Company recorded the following lease costs:

	For the three months ended June 30,			For the three months ended June 30,		For the six months ended June 30,			For the six months ended June 30,
	2026			2025		2026			2025
Operating leases:
Operating lease cost	$	229,331		$	229,331	$	458,662		$	458,662
Variable operating lease cost		201,816			224,874		266,816			412,604
Sublease income received		(75,000	)		-		(147,500	)		-
Total lease cost	$	356,147		$	454,205	$	577,978		$	871,266

The right-of-use asset, net for the operating lease was recorded in the consolidated balance sheets as follows:

	June 30,		December 31,
	2026		2025
Right-of-use asset, net	$	226,074	$	660,706

The operating lease liability for the operating lease was recorded in the consolidated balance sheets as follows:

	June 30,			December 31,
	2026			2025
Operating lease liability, current	$	218,308		$	699,107
Operating lease liability, non-current		-			-
Total operating lease liability	$	218,308		$	699,107

Weighted-average remaining lease term of operating leases (in years)		0.25			0.75
Weighted-average discount rate for operating leases		9.60	%		9.60	%

Maturity of the Company’s lease liability as of June 30, 2026 is as follows:

2026	$	221,564
Total lease payments		221,564
Less: imputed interest		(3,256	)
Total lease liability	$	218,308