10. Leases

The Company renewed its office operating lease on February 1, 2023, for 24 months. The Company entered into a two -year operating lease for its corporate office space for a total lease payment of $41,625. A lease liability and corresponding right-of-use asset of $38,701 was recognized on the lease inception date, February 1, 2023. This lease ended on January 31, 2025.  During the year ended December 31, 2025, the Company paid $1,771 in lease payments, with imputed interest of $46.

On February 1, 2025, the Company entered into an office lease agreement for a term of 12 months through January 31, 2026. Because the lease term did not exceed 12 months and did not contain a purchase option, the Company elected the short-term lease exemption under ASC 842 and did not recognize a right-of-use asset or lease liability related to this lease. Total short-term lease expense recognized for the year ended December 31, 2025, was approximately $39,454.

In December 2025, the Company entered into a new 12-month office lease agreement for the period February 1, 2026 through January 31, 2027. The Company evaluated the lease under ASC 842 and determined that the lease qualifies for the short-term lease exemption, as the lease term is 12 months or less and does not contain a purchase option or renewal option. Accordingly, no right-of-use asset or lease liability was recognized as of December 31, 2025, related to this lease. Lease payments are recognized as lease expense on a straight-line basis over the lease term.