4. Leases

As of March 31, 2025, 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:

		Three Months Ended March 31,		Year Ended December 31,
		2025		2024
Operating lease
Operating lease right-of-use assets	$	245,091	$	268,571
Operating lease liabilities - current		120,296		116,323
Operating lease liabilities - non-current		174,397		205,945

Other information related to leases is presented below:

		Three Months Ended March 31,		Three Months Ended March 31,
		2025		2024
Lease cost
Operating lease cost	$	30,945	$	30,945
Other information
Operating cash flows used in operating leases		35,040		-
Remaining lease term (in years)		2.17		3.17
Discount rate		10%		10%

As of March 31, 2025, the annual future minimum lease payments of the Company's operating lease liabilities were as follows:

2025	$	143,314
2026		147,613
2027		37,174
Total future minimum lease payments, undiscounted		328,101
Present value discount		(33,408	)
Total lease liability	$	294,693