Quarterly report [Sections 13 or 15(d)]

Leases (Tables)

v3.25.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Schedule of Operating Lease Expense
The following table presents the Company’s lease costs which are included in general and administrative expenses in the unaudited condensed consolidated statements of operations:
Three months ended March 31,
2025 2024
Fixed lease expense $ 122,318  $ 136,645 
Variable lease expense 72,194  124,361 
Total operating lease expense 194,512  261,006 
Short-term lease expense 7,857  20,513 
Total lease expense $ 202,369  $ 281,519 
Schedule of Right-of-Use Assets and Lease Liabilities
The following table presents the balance and classifications of the Company’s right-of-use assets and lease liabilities included in the unaudited condensed consolidated balance sheets:
March 31,
2025		 December 31,
2024
Operating lease right-of-use assets, net $ 999,496  $ 1,094,743 
Current portion of operating lease liabilities 447,292  435,307 
Long-term operating lease liabilities 653,402  768,939 
Total operating lease liabilities $ 1,100,694  $ 1,204,246 
Schedule of Lease Maturities
The following table presents the Company’s maturities of lease liabilities as of March 31, 2025:
2025 (excluding the three months ended March 31, 2025) $ 395,171 
2026 535,268 
2027 268,072 
2028 25,387 
Total lease payments 1,223,898 
Total present value discount (123,204)
Operating lease liabilities $ 1,100,694