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NOTES PAYABLE
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
NOTES PAYABLE NOTES PAYABLE
Finance Obligation
The Company pays for its laptop computer equipment through long-term payment plans, using an imputed interest rate of 12.9%, based on its incremental borrowing rate, to determine the present value of its financial obligation and to record interest expense over the term of the plan. The Company refreshed a portion of its computer inventory during the fourth quarter of 2022, entering a new three-year payment plan with the same vendor. The total balance owed was $33,726 and $63,420 as of June 30, 2025 and December 31, 2024, respectively, with the short-term portion of $33,726 and $59,386 recorded under accrued expenses in the consolidated balance sheets as of June 30, 2025, and December 31, 2024, respectively.
Summary
Interest expense on financing arrangements recorded in the Company’s consolidated statements of operations was $1,784 and $1,999 for the three months ended June 30, 2025. and 2024, respectively, and $3,438 and $4,000 during the six months ended June 30, 2025 and 2024, respectively. The total balance owed will be paid in full in 2025.