Financing Liability |
6 Months Ended |
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Jun. 30, 2026 | |
| Financing Liability [Abstract] | |
| FINANCING LIABILITY | 8. FINANCING LIABILITY
In January 2026, the Company entered into an insurance premium financing agreement for $333,105, with a term of 10 months and an annual interest rate of 8.75%. The Company made a down payment of $66,621 and is required to make monthly principal and interest payments of $27,729 over the term of the agreement, which matures in December 2026. As of June 30, 2026, related prepaid insurance of $206,340 is included in prepaid expenses and the remaining financing liability of $162,208 is reflected as financing liability on the accompanying condensed consolidated balance sheet. The Company paid $4,696 and $6,639 of interest expense related to this financing liability for the three and six months ended June 30, 2026, respectively. |
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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