NOTE 8 — LEASE Management determined that the Company’s incremental borrowing rate is the risk free rate for the three-year treasury bond on the effective date. Components of lease expense are as follows: | | June 30, 2026 | | | December 31, 2025 | | Amortization of ROU Asset – operating lease | | $ | 32,469 | | | $ | 22,614 | | Interest in lease liabilities – operating lease | | | 464 | | | | 1,330 | | Lease expense | | | 10,320 | | | | 20,639 | | Total lease expense | | $ | 43,253 | | | $ | 44,583 | |
Supplemental balance sheet information related to leases is as follows: | | June 30, 2026 | | | December 31, 2025 | | Operating lease right-of-use assets, gross | | $ | 59,428 | | | $ | 59,428 | | Accumulated amortization | | | (32,469 | ) | | | (22,614 | ) | Operating lease right-of-use assets, net | | $ | 26,959 | | | $ | 36,814 | | Operating lease liabilities, current portion | | | 13,883 | | | | 13,605 | | Operating lease liabilities, non-current portion | | | 5,103 | | | | 12,115 | | Total Operating lease liabilities | | $ | 18,986 | | | $ | 25,720 | |
Future minimum lease payments were $19,545 as of June 30, 2026.
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