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Leases | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2025 | Dec. 31, 2024
Leases |  |
Leases | Note 10. - Leases The Company has a non-cancellable operating lease for its corporate office space in Golden, Colorado which qualifies for capitalization under ASC 842 Leases. The Company did not renew the lease, for Little Rock, Arkansas location. As of June 30, 2025, the Golden, Colorado lease has a remaining term of approximately four years and includes an option to extend for up to ten additional years; however, the extension option is not recognized as part of the right-of-use asset as it is not reasonably certain to be exercised. The Company has elected not to capitalize leases with terms of one year or less. As of June 30, 2025, and December 31, 2024, the net right-of-use asset “ROU” recorded under the operating lease was $625,355 and $703,524, respectively, and the corresponding lease liability was $794,493 and $874,834, respectively. The Company analyzes contracts above certain thresholds to identify leases and lease components. Lease and non-lease components are not separated for facility space leases. The Company uses its contractual borrowing rate to determine lease discount rates when an implicit rate is not available. Total lease cost for the three and six months ended June 30, 2025 and June 30, 2024, included in unaudited condensed consolidated statements of operations, is as follows: Schedule of Lease Cost
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Operating lease cost |  | $ | 63,185 |  |  | $ | 64,198 |  |  | $ | 124,191 |  |  | $ | 133,635 |
The following represents the activity for the Company’s operating lease: Schedule of Right of Use Assets
|  | June 30, 2025 |  |  | December 31, 2024 |
ROU assets that are related to lease properties are presented as follows: |  |  |  |  |  |  |  |
Beginning balance |  | $ | 703,524 |  |  | $ | 859,861 |
Amortization charge for the period |  |  | (78,169 | ) |  |  | (156,337 | )
Ending balance |  | $ | 625,355 |  |  | $ | 703,524 |
Other information relating to the operating lease is as follows: |  |  |  |  |  |  |  |
Weighted average remaining lease term in years |  |  | 4.0 |  |  |  | 2.4 |
Weighted average discount rate |  |  | 6.9 | % |  |  | 6.9 | %
Future minimum lease payments as of June 30, 2025 and December 31, 2024 are as follows: Schedule of Future Minimum Lease Payments
Year |  | June 30, 2025 |  |  | December 31, 2024 |
2025 |  | $ | 109,143 |  |  | $ | 217,925 |
2026 |  |  | 222,275 |  |  |  | 222,275 |
2027 |  |  | 226,705 |  |  |  | 226,705 |
2028 |  |  | 231,216 |  |  |  | 231,216 |
2029 |  |  | 117,709 |  |  |  | 117,709 |
Thereafter |  |  |  |  |  |  |  |
Total future minimum lease payments |  |  | 907,048 |  |  |  | 1,015,830 |
Less: Imputed interest |  |  | 112,555 |  |  |  | 140,996 |
Operating lease liabilities |  |  | 794,493 |  |  |  | 874,834 |
Less: current portion |  |  | 174,319 |  |  |  | 161,952 |
Non-current portion of lease liability |  | $ | 620,174 |  |  | $ | 712,882 |
| Note 11. Leases The Company has non-cancellable operating leases for facility space with varying terms. All of the active leases for facility space qualified for capitalization under FASB ASC 842, Leases. These leases have remaining lease terms between one 1 to seven years and may include options to extend the leases for up to ten years. The extension terms are not recognized as part of the right-of-use assets. The Company has elected not to capitalize leases with terms equal to, or less than, one year. As of December 31, 2024, and December 31, 2023, net assets recorded under operating leases were $703,524 and $859,861 respectively, and net lease liabilities were $874,834 and $1,007,993, respectively. The Company analyzes contracts above certain thresholds to identify leases and lease components. Lease and non-lease components are not separated for facility space leases. The Company uses its contractual borrowing rate to determine lease discount rates when an implicit rate is not available. Total lease cost for the year ended December 31, 2024 and December 31, 2023, included in Consolidated Statements of Operations, is detailed in the table below: Schedule of Lease Cost and Right of Use Assets Related to Lease and Future Minimum Lease Payments
|  | Year ended December 31, 2024 |  |  | Year ended December 31, 2023 |
Operating lease cost |  | $ | - |  |  | $ | - |
Short-term lease cost |  |  | 258,477 |  |  |  | 315,615 |
Total Lease Cost |  | $ | 258,477 |  |  | $ | 315,615 |
ROU assets that are related to lease properties are presented as follows: |  |  |  |  |  |  |  |
Beginning balance |  | $ | 859,861 |  |  | $ | 1,016,198 |
Additions to right-of-use assets |  |  | - |  |  |  | - |
Amortization charge for the year |  |  | (156,337 | ) |  |  | (156,337 | )
Lease modifications |  |  | - |  |  |  | - |
Ending balance |  | $ | 703,524 |  |  | $ | 859,861 |
Further information related to leases is as follows: |  |  |  |  |  |  |  |
Weighted-average remaining lease term |  |  | 2.42 Years |  |  |  | 3.42 Years |
Weighted-average discount rate |  |  | 6.87 | % |  |  | 6.87 | %
Future minimum lease payments as of December 31, 2024 and December 31, 2023 are as follows: Schedule of Future Minimum Lease Payments
Year |  |  |  |  |  |
Year one |  |  |  |  |  |  |  |
2024 |  |  | - |  |  |  | 197,520 |
2025 |  |  | 217,925 |  |  |  | 217,925 |
2026 |  |  | 222,275 |  |  |  | 222,275 |
2027 |  |  | 226,705 |  |  |  | 226,705 |
2028 |  |  | 231,216 |  |  |  | 231,216 |
Year six |  |  | 231,216 |  |  |  | 231,216 |
Thereafter |  |  | 117,709 |  |  |  | 117,710 |
Total future minimum lease payments |  | $ | 1,015,830 |  |  | $ | 1,213,351 |
Less: Imputed interest |  |  | 140,996 |  |  |  | 205,358 |
Operating lease liabilities |  | $ | 874,834 |  |  | $ | 1,007,993 |
Less: Current portion |  |  | 161,952 |  |  |  | 132,546 |
Non-current portion of lease liabilities |  | $ | 712,882 |  |  | $ | 875,447 |

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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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