4. Leases

As of March 31, 2026, 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:

		March 31, 2026		December 31, 2025
Operating lease
Operating lease right-of-use assets	$	144,331	$	170,733
Operating lease liabilities - current		145,456		145,456
Operating lease liabilities - non-current		24,168		60,139

Other information related to leases is presented below:

		Three months ended March 31,
		2026		2025
Lease cost
Operating lease cost	$	30,944		30,945
Other information
Operating cash flows used in operating leases		(36,091	)	(35,040	)
Remaining lease term (in years)		1.25		2.17
Discount rate		10%		10%

As of March 31, 2026, the annual future minimum lease payments of the Company's operating lease liabilities were as follows:

2026		147,613
2027		37,174
Total future minimum lease payments, undiscounted		184,787
Present value discount		(10,393	)
Total lease liability	$	174,394