v3.26.3
Lease
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Lease    
Lease

Note 8 – Lease

 

The Company leases its current corporate headquarters under a fourteen-month lease from STVentures, a related party. The lease, as amended on May 1, 2022, to expand its office space from 2,976 square feet to approximately 5,978 square feet, commenced on July 1, 2021, and provides for a base monthly rent of $10,711, as increased from $5,332 per month. The lease was further amended on June 26, 2024, and March 3, 2025, and provides for a base monthly rent of $11,209 per month, over a fourteen-month term of the lease commencing on July 1, 2024, through August 31, 2025. The lease was further amended on July 1, 2025, and provides for a base monthly rent of $5,580 from September 1, 2025, through May 31, 2026. The lease was further amended on April 1, 2026, and provides for a base monthly rent of $7,335 from April 1, 2026, through May 31, 2027. A total of $38,745 and $67,253 is included in selling, general and administrative expenses for the six months ended June 30, 2026, and 2025, respectively

 

The components of lease expense were as follows:

 

   2026   2025 
   For the Six Months Ended 
   June 30, 
   2026   2025 
Operating lease cost:          
Amortization of ROU asset  $36,581   $64,477 
Interest on lease liability   2,164    2,776 
Total operating lease cost  $38,745   $67,253 

 

   2026   2025 
   For the Three Months Ended 
   June 30, 
   2026   2025 
Operating lease cost:          
Amortization of ROU asset  $20,239   $32,610 
Interest on lease liability   1,766    1,017 
Total operating lease cost  $22,005   $33,627 

 

 

Supplemental balance sheet information related to leases was as follows:

 

   June 30,   December 31, 
   2026   2025 
Operating lease:          
Operating lease assets  $77,644   $27,401 
           
Current portion of operating lease liability, related party  $77,644    27,401 
Noncurrent operating lease liability, related party   -    - 
Total operating lease liability  $77,644   $27,401 
           
Weighted average remaining lease term:          
Operating leases   0.92 years    0.42 years 
           
Weighted average discount rate:          
Operating lease   7.25%   7.25%

 

The following payments are required under leases as of June 30, 2026:

 

       Remaining 
   Operating   Term in 
   Lease   Years 
2026   44,010      
2027   36,675      
2028   -      
Total lease payments   80,685      
Less: imputed interest   (3,041)     
Present value of lease liability   77,644    0.92 

 

Note 8 – Lease

 

The Company leases its current corporate headquarters under a five month lease from STVentures, a related party. The lease, as amended on May 1, 2022 to expand its office space from 2,976 square feet to approximately 5,978 square feet, commenced on July 1, 2021, and provides for a base monthly rent of $10,711, as increased from $5,332 per month. The lease was further amended on June 26, 2024 and March 3, 2025 and provides for a base monthly rent of $11,209 per month, over a fourteen month term of the lease commencing on July 1, 2024 through August 31, 2025. The lease was further amended on July 1, 2025, and provides for a base monthly rent of $5,580 from September 1, 2025 through May 31, 2026. The Company occupies the space for executive and administrative offices. Rent expense for the year ended December 31, 2025 and 2024 was $111,990 and $131,516, which is included in selling, general and administrative expenses within the statements of operations.

 

The components of lease expense were as follows:

 

   2025   2024 
   For the Year Ended 
   December 31, 
   2025   2024 
Operating lease cost:          
Amortization of ROU asset  $107,973   $116,266 
Interest on lease liability   4,017    15,250 
Total operating lease cost  $111,990   $131,516 

 

 

Supplemental balance sheet information related to leases was as follows:

 

   December 31,   December 31, 
   2025   2024 
Operating lease:          
Operating lease assets  $27,401   $299,190 
           
Current portion of operating lease liability, related party  $27,401    111,978 
Noncurrent operating lease liability, related party   -    187,212 
Total operating lease liability  $27,401   $299,190 
           
Weighted average remaining lease term:          
Operating leases   0.42 years    2.50 years 
           
Weighted average discount rate:          
Operating lease   7.25%   9.25%

 

The following payments are required under leases as of December 31, 2025:

 

       Remaining 
   Operating   Term in 
   Lease   Years 
2026   27,900      
2027   -      
Total lease payments   27,900      
Less: imputed interest   (499)     
Present value of lease liability   27,401    0.42