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Leases | 9 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
Leases | Note 13 - Leases In June 2024, the Company entered into a non-cancelable operating lease agreement for a facility in Bethesda, Maryland. This lease commenced on July 1, 2024, has a term of 63 months, and has an initial base rent of approximately $7,000 that increases annually by three percent. Under the terms of this lease, the Company is also responsible for their proportionate share of expenses associated with the facility and its premises. In January 2025, the Company entered into a noncancelable operating lease agreement with an unrelated third-party for a 16,000 square foot facility in Puerto Rico. This lease commenced on February 1, 2025 on a month-to-month basis and became a long-term lease with an initial term of 5 years on June 1, 2025. The initial base rent is $7.00 per square foot, or $9,333 per month, for the first two years, increasing to $7.50 per square foot for the third year and increases by 3% annually thereafter. Under the terms of this lease, the Company is also responsible for their own utilities and a proportionate share of the operating expenses of the premises, not to exceed $3.25 per square foot. The components of lease expense were as follows for the three and nine months ended September 30, 2025 and 2024:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Operating lease cost |  | $ | 51,298 |  |  | $ | 21,553 |  |  | $ | 104,319 |  |  | $ | 21,553 |
Other short-term lease cost |  |  | 22,170 |  |  |  | 6,228 |  |  |  | 93,516 |  |  |  | 16,879 |
Total lease cost |  | $ | 73,468 |  |  | $ | 27,781 |  |  | $ | 197,835 |  |  | $ | 38,432 |
The following table summarizes the operating lease asset and liabilities recorded as of September 30, 2025 and December 31, 2024:
|  | September 30, 2025 |  |  | December 31, 2024 |
Operating lease right-of-use asset, gross |  | $ | 824,314 |  |  | $ | 331,478 |
Accumulated amortization |  |  | (88,443 | ) |  |  | (23,586 | )
Operating lease right-of-use asset, net |  |  | 735,871 |  |  |  | 307,892 |
Short-term operating lease liabilities |  |  | 135,976 |  |  |  | 36,225 |
Long-term operating lease liabilities |  |  | 614,126 |  |  |  | 265,413 |
Total operating lease liabilities |  | $ | 750,102 |  |  | $ | 301,638 |
Weighted average operating lease term |  |  | 4.37 years |  |  |  | 4.75 years |
Weighted average operating lease discount rate |  |  | 9.50 | % |  |  | 11.83 | %
The following table summarizes future minimum lease commitments as of September 30, 2025:
Year ending December 31, |  | Operating Leases |
2025 (remaining 3 months) |  | $ | 49,789 |
2026 |  |  | 200,462 |
2027 |  |  | 207,783 |
2028 |  |  | 215,950 |
2029 |  |  | 197,905 |
Thereafter |  |  | 42,436 |
Total lease payments |  |  | 914,325 |
Less: imputed interest |  |  | (164,223 | )
Present value of lease liabilities |  | $ | 750,102 |

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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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