Quarterly report [Sections 13 or 15(d)]

Leases (Tables)

v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 30, 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
June 30,		 Six months ended June 30,
2025 2024 2025 2024
Fixed lease expense $ 122,318  $ 122,798  $ 244,636  $ 259,443 
Variable lease expense 54,081  89,910  126,275  214,271 
Total operating lease expense 176,399  212,708  370,911  473,714 
Short-term lease expense 39,379  6,915  47,236  27,428 
Total lease expense $ 215,778  $ 219,623  $ 418,147  $ 501,142 
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:
June 30,
2025		 December 31,
2024
Operating lease right-of-use assets, net $ 900,292  $ 1,094,743 
Current portion of operating lease liabilities 459,249  435,307 
Long-term operating lease liabilities 533,981  768,939 
Total operating lease liabilities $ 993,230  $ 1,204,246 
Schedule of Lease Maturities
The following table presents the Company’s maturities of lease liabilities as of June 30, 2025:
2025 (excluding the six months ended June 30, 2025) $ 263,913 
2026 535,267 
2027 268,072 
2028 25,387 
Total lease payments 1,092,639 
Total present value discount (99,409)
Operating lease liabilities $ 993,230