v3.26.1
Operating Lease
6 Months Ended
Jun. 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 $77,190 and $74,200 for the three months ended June 30, 2026 and 2025, respectively. Additionally, the variable lease costs were approximately $40,600 and $18,600 for the three months ended June 30, 2026 and 2025, respectively. The lease costs were approximately $154,400 and $148,400 for the six months ended June 30, 2026 and 2025, respectively. Additionally, the variable lease costs were $59,600 and $59,200 for the six months ended June 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 June 30, 2026:

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​

​

​

​

​

​

​

​

​

​

​

​

2026

​

$

155,412

​

​

2027

​

​

322,183

​

​

2028

​

​

335,072

​

​

2029

​

 

318,374

​

​

Total minimum lease payments

​

​

1,131,041

​

​

Less debt discount

​

​

171,817

​

​

Total operating lease obligations

​

$

959,224

​

​

​

The following summarizes additional information related to leases for the period ended June 30:

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​

​

​

​

​

​

​

​

​

​

2026

​

2025

​

Operating cash outflows from operating leases

​

$

102,485

​

$

83,782

​

Weighted average remaining lease term – operating leases

​

 

3.4

years

 

4.4

years

Weighted average discount rate – operating leases

​

 

8.5

%

 

8.5

%

​