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Leases | 4 Months Ended
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Apr. 30, 2025
Leases |
Leases | Note 4 – Leases The Louisville Facility Lease On July 28, 2021, the Company entered into an agreement to lease 11,491 square feet of office and manufacturing space (the “New Facility Lease”), in Louisville, CO. The New Facility lease commenced on November 1, 2021 and continues through January 31, 2027. From November 2021 through January 2022, the monthly rent was abated. Beginning February 2022, the monthly rent is $10,055 and will increase by 3% annually every November through the end of the New Facility Lease term. Pursuant to the New Facility Lease, the Company made a security deposit of $14,747. The Company has the option to renew the New Facility Lease for an additional five years. Additionally, the Company pays the actual amounts for property taxes, insurance, and common area maintenance. The New Facility Lease agreement contains customary events of default, representations, warranties, and covenants. Upon commencement of the New Facility Lease, the Company recognized on the balance sheet an operating lease right-of-use asset and lease liability in the amount of $582,838. The lease liability was initially measured as the present value of the unpaid lease payments at commencement and the ROU asset was initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. The renewal option to extend the New Facility Lease is not included in the right-of-use asset or lease liability, as the option is not reasonably certain to be exercised. The Company regularly evaluates the renewal option and when it is reasonably certain of exercise, the Company will include the renewal period in its lease term. The Company’s operating and finance right-of-use assets and lease liabilities are as follows: Schedule of Lease Cost
|  | As of April 30, 2025 |
Operating lease right-of-use asset |  | $ | 207,370 |
Operating lease liability, current |  | $ | 138,622 |
Operating lease liability, long-term |  | $ | 90,303 |
Remaining lease term |  |  | 1.8 years |
Discount rate |  |  | 3.63 | %
Cash paid during the year for amounts included in the measurement of lease liabilities is as follows:
|  | April 30, 2025 |  |  | April 30, 2024 |  |  | December 31, 2024 |  |  | December 31, 2023 |
|  | For the Four Months Ended |  |  | For the Years Ended |
|  | April 30, 2025 |  |  | April 30, 2024 |  |  | December 31, 2024 |  |  | December 31, 2023 |
Cash paid for operating lease |  | $ | 32,961 |  |  | $ | 42,668 |  |  | $ | 128,643 |  |  | $ | 124,897 |
CEA Industries Inc. Notes to Consolidated Financial Statements April 30, 2025 (in US Dollars except share numbers) Future annual minimum under non-cancellable operating leases as of December 31, 2024 were as follows: Schedule of Future Annual Minimum Lease Payments
Years ended Apr 30, |  |  |
2026 |  |  | 133,820 |
2027 |  |  | 102,861 |
Total minimum lease payments |  |  | 236,681 |
Less imputed interest |  |  | (7,756 | )
Present value of minimum lease payments |  | $ | 228,925 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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