Leases

3 Months Ended

Mar. 31, 2025

Leases

Leases

Note 10 – Leases

Maturities of the lease liability for the Company’s lone operating lease as of March 31, 2025 by year are as follows:

Maturity of Lease Liabilities
2025 (April to December)	$	277,784
2026		378,279
2027		388,682
2028		399,388
2029		410,397
Thereafter		927,902
Total lease payments		2,782,432
Less: interest		(801,004	)
Present value of lease liabilities	$	1,981,428

For the three months ended March 31, 2025 and 2024, lease costs of $58,496 are classified as operating expense in the unaudited condensed consolidated statements of operations.

The remaining term of the lone operating lease as of March 31, 2025 is 6.9 years and reflects a discount rate of 10%. In the three months ended March 31, 2025 and 2024, cash paid for amounts under the lone operating lease were $58,496 and are classified as cash used in operating activities.