Summary of Significant Accounting Policies (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
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| Summary of Significant Accounting Policies [Abstract] |
|
| Schedule of Fair Value Hierarchy of its Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
The following table represents the Company’s
fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December
31, 2025.
| | |
June 30, 2026 | | |
December 31, 2025 | |
| Description | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Level 1 | | |
Level 2 | | |
Level 3 | |
| Interest rate swap asset | |
$ | — | | |
$ | 1,927 | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
| Interest rate swap liability | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | 77,328 | | |
$ | — | |
|
| Schedule of Information Regarding the Interest Rate Swap |
Information regarding the interest rate swap is
as follows:
| Description | | Notional
Amount on
June 30,
2026 | | | Interest
Rate | | | Maturity | | | Fair Value of
Asset on
June 30,
2026 | | | Fair Value of
Liability on
December 31,
2025 | | | December 10, 2022 interest rate swap | | $ | 4,347,283 | | | | 7.65 | % | | | December 10, 2032 | | | $ | 1,927 | | | $ | 77,328 | |
|
| Schedule of Remaining Lease Term on a Straight-Line Basis |
The $965,000 rent concession received shall be recognized
into revenue over the remaining lease term on a straight-line basis.
| | |
Six Months
Ended
June 30,
2026 | | |
Six Months
Ended
June 30,
2025 | |
| Balance at beginning of period | |
$ | 302,282 | | |
$ | 318,951 | |
| Rental payments received in advance | |
| 62,989 | | |
| 1,772 | |
| Compensation received for rent concessions | |
| 965,000 | | |
| - | |
| Accretion of contract liabilities to revenue | |
| (107,789 | ) | |
| (8,612 | ) |
| Balance at end of period | |
$ | 1,222,482 | | |
$ | 312,111 | |
|
| Schedule of Basic and Diluted Net Income (Loss) Per Common Share |
The following table presents a reconciliation
of basic and diluted net income (loss) per common share:
| | |
Three Months Ended
June 30, | | |
Six Months Ended
June 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Net income per common share - basic: | |
| | |
| | |
| | |
| |
| Net income | |
$ | 73,787 | | |
$ | 26,326 | | |
$ | 19,127 | | |
$ | 172,184 | |
| Less: undistributed (earnings) loss allocated to participating securities | |
| - | | |
| - | | |
| - | | |
| - | |
| Net income allocated to common stockholders | |
$ | 73,787 | | |
$ | 26,326 | | |
$ | 19,127 | | |
$ | 172,184 | |
| Weighted average common shares outstanding – basic | |
| 13,180,829 | | |
| 12,066,252 | | |
| 13,002,928 | | |
| 12,076,981 | |
| Net income per common share – basic | |
$ | 0.01 | | |
$ | 0.00 | | |
$ | 0.00 | | |
$ | 0.01 | |
| | |
| | | |
| | | |
| | | |
| | |
| Net income per common share - diluted: | |
| | | |
| | | |
| | | |
| | |
| Net income allocated to common shareholders – basic | |
$ | 73,787 | | |
$ | 26,326 | | |
$ | 19,127 | | |
$ | 172,184 | |
| Add: interest on convertible debt | |
| 30,000 | | |
| 30,000 | | |
| 60,000 | | |
| 60,000 | |
| Numerator for income per common share – basic | |
$ | 103,787 | | |
$ | 56,326 | | |
$ | 79,127 | | |
$ | 232,184 | |
| | |
| | | |
| | | |
| | | |
| | |
| Weighted average common shares outstanding – basic | |
| 13,180,829 | | |
| 12,066,252 | | |
| 13,002,928 | | |
| 12,076,981 | |
| Add: dilutive shares related to: | |
| | | |
| | | |
| | | |
| | |
| Stock options | |
| - | | |
| - | | |
| - | | |
| - | |
| Convertible debt | |
| 400,000 | | |
| 400,000 | | |
| 400,000 | | |
| 400,000 | |
| Weighted average common shares outstanding – diluted | |
| 13,580,829 | | |
| 12,466,252 | | |
| 13,402,928 | | |
| 12,476,981 | |
| Net income per common share – diluted | |
$ | 0.01 | | |
$ | 0.00 | | |
$ | 0.00 | | |
$ | 0.01 | |
|
| Schedule of Diluted Net Loss Per Share |
The following potentially dilutive shares have
been excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive for the six months ended June
30, 2026 and 2025.
| | |
June 30, | |
| | |
2026 | | |
2025 | |
| Convertible debt | |
| - | | |
| - | |
| Stock options | |
| 1,206,250 | | |
| 1,630,000 | |
| | |
| 1,206,250 | | |
| 1,630,000 | |
|