Quarterly report [Sections 13 or 15(d)]

Leases (Tables)

v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2025
Leases  
Schedule of Operating Lease Expense

The operating lease expense were as follows:

 

    2025     2024  
    Six months ended June 30,  
    2025     2024  
Lease cost            
Operating lease cost   $ 204,787     $ 188,741  
Summary of Supplemental Balance Sheet Information

Supplemental balance sheet information related to operating leases was as follows:

 

    June 30,     December 31,  
    2025     2024  
Operating lease right-of-use assets at inception   $ 856,787     $ 284,861  
Accumulated amortization     (21,647 )     (163,316 )
Total operating lease right-of-use assets   $ 835,140     $ 121,545  
                 
Operating lease liabilities - current   $ 260,311     $ 121,544  
Operating lease liabilities - non-current     575,598       -  
Total operating lease liabilities   $ 835,909     $ 121,544  
                 
Right-of-use assets obtained in exchange for new operating lease liability     856,787       284,861  
                 
Weighted-average remaining lease term — operating leases (year)     2.92       0.41  
Weighted-average discount rate — operating leases     6.50 %     8.25 %
Schedule of Future Minimum Lease Payments Under Operating Leases

Future minimum lease payments under operating leases that have initial noncancelable lease terms in excess of one year as of June 30, 2025, were as follows:

 

    Total  
Year Ended December 31,        
2025 - Remaining 6 months   $ 152,295  
2026     309,920  
2027     319,218  
2028     134,641  
Thereafter     -  
Total undiscounted lease payments     916,074  
Less: Imputed interest     (80,165 )
Operating lease liabilities   $ 835,909