v3.26.1
Finance and Operating Leases
 6 Months Ended
Jun. 30, 2026
Finance And Operating Leases  
Finance and Operating Leases

12. Finance and Operating Leases

 

The Company leases offices. The leases are for periods of two to five years.

 

For the six months ended June 30, 2026, and 2025, the Company recognized the following total lease cost related to the Company’s lease arrangements:

 

   2026   2025 
    (Unaudited)    (Unaudited) 
Finance lease and operating lease costs   70,863    88,138 
Expenses relating to short-term leases   -    34,233 
Total lease cost  $70,863   $122,371 

 

As of June 30, 2026, the Company’s remaining lease payments are as follows:

 

   Leases 
    (Unaudited) 
2026  $51,584 
2027   71,194 
Total remaining lease payments (undiscounted)   122,778 
Less: imputed interest   (1,884)
Present value of lease liabilities  $120,894 

 

Supplemental balance sheet information related to leases:

 

   Classification 

As of June 30,

2026

  

As of December 31,

2025

 
       (Unaudited)      
Assets:             
Operating lease assets  Right-of-use lease assets  $118,517   $187,078 
Operating leases             
Lease Liability - current  Current liabilities – lease liabilities  $96,228   $125,243 
Lease liability – non-current  Non-current liabilities – lease liabilities  $24,666   $70,538 

 

Other information related to leases for the six months ended June 30, 2026 and 2025:

 

   2026   2025 
    (Unaudited)    (Unaudited) 
Weighted-average remaining lease term (years) - operating leases   1.29    0.79 
Weighted-average discount rate - operating leases   2.86%   4.75%
Cash paid for amounts included in the measurement of lease liabilities:          
Operating cash flows from finance leases  $-   $- 
Operating cash flows from operating leases  $74,887   $94,202