Quarterly report [Sections 13 or 15(d)]

Commitments and Contingencies (Tables)

v3.25.1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Expense
The table below summarizes the components of lease expense and income statement location for the three months ended March 31, 2025, and 2024:
Line Items in the Company's Condensed Consolidated Three Months Ended
March 31,
Income Statements 2025 2024
Operating lease costs:
Operating lease costs General and administrative expenses 81,181  64,289 
Total lease costs $ 81,181  $ 64,289 
Schedule of Supplemental Information
Supplemental information and balance sheet location related to leases (excluding amounts related to leases classified as discontinued operations) was as follows:
March 31, 2025 December 31, 2024
Operating Leases:
Operating lease right-of -use asset $1,742,749 $245,384
Operating lease liability - current portion $240,889 $448,285
Operating lease liability - net of current portion 2,009,705 —
Total operating lease liability $2,250,594 $448,285
Weighted average remaining lease term (in years):
Operating leases 6.2 1.0
Weighted average discount rate:
Operating leases 6.5  % 5.7  %
Supplemental cash flow information related to leases (excluding amounts related to leases classified as discontinued operations) was as follows:
Three Months Ended
March 31, 2025		 Three Months Ended
March 31, 2024
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases $ 115,014  $ 112,202 
Non-cash transactions: ROU assets obtained in exchange for lease liabilities
Operating lease $ 1,554,504  $ — 
Schedule of Maturities of Operating Lease Liabilities
Maturities of lease liabilities as of March 31, 2025 are as follows, excluding amounts related to leases classified as discontinued operations:
Operating Leases
2025 (remainder) $ 345,042 
2026 268,762 
2027 467,453 
2028 479,129 
2029 491,077 
Thereafter 715,278 
Total lease payments $ 2,766,741 
Less: Imputed interest (516,147)
Total lease obligations 2,250,594 
Less: Current obligations (240,889)
Long-term lease obligation $ 2,009,705