5. Leases

As of December 31, 2024, the Company had one operating lease for its corporate office that commenced in 2024, for which the Company recorded a right-of-use asset and lease liability as of the commencement date. The Company's lease does not contain a purchase option. Where the Company's lease contains an option to extend the lease term, the extended lease term is only included in the measurement of the lease when it is reasonably certain to remain in the lease beyond the non-cancellable term. The Company's lease also contains variable lease costs, which pertain to common area maintenance and other operating charges, that are expensed as incurred.

Balance sheet information related to the Company's lease is presented below:

		Year Ended December 31,
		2024
Operating lease
Operating lease right-of-use assets	$	268,571
Operating lease liabilities - current		116,323
Operating lease liabilities - non-current		205,945

Other information related to leases is presented below:

		Year Ended December 31,
		2024
Lease cost
Operating lease cost	$	123,777
Other information
Operating cash flows used in operating leases		(70,080	)
Remaining lease term (in years)		2.42
Discount rate		10%

As of December 31, 2024, the annual future minimum lease payments of the Company's operating lease liabilities were as follows:

Year ending December 31,
2025	$	142,262
2026		146,530
2027		74,348
Total future minimum lease payments, undiscounted		363,140
Present value discount		(40,872	)
Total lease liability	$	322,268