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| Leases | Note 5. Leases
The following provides balance sheet information related to leases as of June 30, 2026 and December 31, 2025:
At June 30, 2026, the future estimated minimum lease payments under non-cancelable operating leases are as follows:
At June 30, 2026 and December 31, 2025, the Company has a non-cancelable operating lease for office space in Atlanta, Georgia that requires monthly payments of $6,750 through December 31, 2026. The lease is subject to automatic renewal on a month-to-month basis unless the Company provides three-months written notice to the landlord. The exercise of lease renewal options is at the Company’s sole discretion and is assessed as to whether to include any renewals in the lease term at inception.
The following table provides a reconciliation for the Company’s right of use assets and lease liabilities:
Other supplemental information related to operating leases is as follows:
The Company also leases office space in Dallas, Texas under two leases. One lease is month-to-month, while the other has a contractual term of one year and ends November 30, 2026. The Company also leases space for material storage and handling under a one-year lease that continues through September 2026. The storage lease is cancelable with 45-days’ written notice. Leases with contractual periods of twelve months or less are accounted for under the short-term lease measurement and recognition exemption allowed for by ASC 842. Rent expense is recorded as incurred for these leases.
The components of lease expense were approximately as follows for the three and six months ended June 30, 2026 and 2025:
During the six months ended June 30, 2026 and 2025, cash used in operating activities associated with operating leases was approximately $40,500 and $108,000, respectively.
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