v3.26.3
Operating Lease
9 Months Ended
Sep. 30, 2026
Operating Lease  
Operating Lease

Note 10. Operating Lease

The Company entered into an operating lease with a third party in November 2024 for its headquarters in Columbus, Ohio. The terms of the lease included monthly payments ranging from $24,700 to $28,900 with a maturity date of November 30, 2029. There are no restrictions or covenants associated with the lease. The lease costs were approximately $77,200 and $74,200 for the three months ended September 30, 2026 and 2025, respectively. Additionally, the variable lease costs were approximately $19,000 and $18,600 for the three months ended September 30, 2026 and 2025, respectively. The lease costs were approximately $231,600 and $222,700 for the nine months ended September 30, 2026 and 2025, respectively. Additionally, the variable lease costs were $78,700 and $77,800 for the nine months ended September 30, 2026 and 2025, respectively.

The following is a maturity analysis, by year, of the annual undiscounted cash outflows of the operating lease liabilities as of September 30, 2026:

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​

​

​

​

​

​

​

​

​

​

​

​

2026

​

$

78,221

​

​

2027

​

​

322,184

​

​

2028

​

​

335,072

​

​

2029

​

 

318,378

​

​

Total minimum lease payments

​

​

1,053,855

​

​

Less imputed interest

​

​

148,332

​

​

Total operating lease obligations

​

$

905,523

​

​

​

The following summarizes additional information related to leases for the nine months ended September 30, 2026 and 2025:

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​

​

​

​

​

​

​

​

​

​

2026

​

2025

​

Operating cash outflows from operating leases

​

$

231,572

​

$

222,666

​

Weighted average remaining lease term – operating leases

​

 

3.2

years

 

4.2

years

Weighted average discount rate – operating leases

​

 

8.5

%

 

8.5

%

​