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Right-of-Use Assets and Liabilities

9 Months Ended

Sep. 30, 2025

Right-of-Use Assets and Liabilities

Right-of-Use Assets and Liabilities

Note 15 – Right-of-Use Assets and Liabilities

Future lease payments under operating leases as of September 30, 2025, were as follows:


2025 (Remaining 3 months)		$	140,352
2026			567,184
2027			519,919
Total Future Lease Payments			1,227,455
Less: Imputed Interest			(93,444)
Total Lease Liability Balance		$	1,134,011

On September 23, 2025, the Company executed lease renewal agreements for both its current properties located in West Henrietta, New York extending the current lease terms to November 30, 2027. As a result, the Company recorded an additional Right-of-Use asset and Right-of-Use liability of $1,044,154 on the Consolidated Balance Sheet as of September 23, 2025. These amounts were non-cash in nature and therefore are excluded from the statement of cash flows.

Operating lease costs under the operating leases totaled $284,386 and $177,490 for the three months ended September 30, 2025 and 2024, respectively. Operating lease costs under the operating leases totaled $777,505 and $553,138 for the nine months ended September 30, 2025 and 2024, respectively.

As of September 30, 2025, the weighted average discount rate was 7.1% and the weighted average remaining lease term was 2.2 years.