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Commitments and contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and contingencies

Note 15 – Commitments and contingencies

 

Legal

 

From time to time, the Company is party to certain legal proceedings, as well as certain asserted and un-asserted claims. Amounts accrued, as well as the total amount of reasonably possible losses with respect to such matters, individually and in the aggregate, are not deemed to be material to the consolidated financial statements.

 

Operating Lease Commitment

 

The Company leases office space under non-cancelable operating lease agreements, which end at various dates in 2027. The Company does not plan to cancel the existing lease agreements for its existing facilities prior to their respective expiration dates. When determining the lease term, the Company considers options to extend or terminate the lease when it is reasonably certain that it will exercise or not exercise that option. The Company’s leases over 1 year qualify as operating leases. As of December 31, 2024, the Company’s operating leases had a weighted average remaining lease term of 2.58 years and a weighted average discount rate of 3.66%. Future lease payments under operating leases as of December 31, 2024 were as follows:

 

      
   December 31, 2024
    
2025   $199,197 
2026    206,487 
2027    99,541 
Thereafter    — 
Total undiscounted lease payments   $527,761 
Less imputed interest    22,536 
Total lease liabilities   $505,225 

 

For the years ended December 31, 2024, 2023 and 2022, the Company had operating lease costs of $3,739, nil, and nil. Cash paid for amounts included in the measurement of operating lease liabilities were $121,951, nil and nil during the years ended December 31, 2024, 2023 and 2022, respectively.