10. Leases

The Company renewed its office operating lease on February 1, 2023, for 24 months. The Company entered into a two-year operating lease for its corporate office space for a total lease payments of $41,625, and as a result a liability and right-of-use asset of $38,701 was recognized on the lease inception date, February 1, 2023. The Company utilized a 7.0% incremental borrowing rate to discount the future rent payments of approximately $1,734 per month over the two-year lease term. The remaining lease term on December 31, 2024, was approximately one month.

For the year ended December 31, 2024, the Company expended cash of $21,281 in operating lease payments that were recorded in management and administrative expenses.

The table below displays the future operating lease payments and lease liability as of December 31, 2024, related to the Company's operating lease.

Future Lease Payments		Total Amount
2025		1,781
Total		1,781
Less: Imputed Interest		(47	)
Total lease Liability	$	1,734

The Company's ROU asset decreased through amortization of $19,904 for the year ended December 31, 2024.