v3.26.1
Leases
12 Months Ended
Dec. 31, 2025
Leases  
Leases

Note 3. Leases

The Company classifies the lease for its office space as an operating lease, and records a related right-of-use lease asset and lease liability accordingly. Pursuant to an amendment in May 2025, the lease has been extended through October 2028. The current rent is $11,625 per month through October 2026. It increases to $11,883 in November 2026 and to $12,142 in November 2027 where it remains until expiration.

The following represents a reconciliation of contractual lease cash flows to the right-of-use lease asset and liability recognized in the financial statements:

​

​

​

​

​

​

​

​

Operating

​

​

  ​ ​ ​

Lease

  ​ ​ ​

Contractual cash payments for the remaining lease term as of December 31, 2025

​

​

​

​

2026

​

$

140,017

​

2027

​

​

143,117

​

2028

​

​

121,416

​

Less implied interest

​

​

(46,406)

​

Total

​

$

358,144

​

Discount rate applied

​

 

8.47%

​

Remaining lease term (months) as of December 31, 2025

​

 

34

​

​

​

​

​

​

Lease expense for the year ended December 31, 2024:

​

 

  ​

​

Lease expense

​

$

136,022

​

Total

​

$

136,022

​

​

​

​

​

​

Lease expense for the year ended December 31, 2025:

​

​

​

​

Lease expense

​

$

139,781

​

Total

​

$

139,781

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​

​

​

​

​

​