NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 18. LEASE OBLIGATIONS Effective January 1, 2022, the Company adopted ASU 2016-02, Leases (Topic 842) ; the standard was adopted po pr oe sr pa teicntgi vleelays. e Tl i ha eb i Cl i toym. pFaonr yDceuc rerme nb tel ry 3h1a, s2 10 82 5l e, aa srei gs ht th oa tf ua sr ee ar sesceotr di ne dt h ae sa am roiug nh tt ooff $u3s, e5 0( 8“ R, 6O7U5” i)s arsesceotr da ne dd il ina boitl hi tei er sa. s Ts ehtes Ro On Ut haes sceot nrseopl irde as teendt sbtahl ea nr ci ge hst hteoe ut , s we ah ni l eu na dl ee ralsyei nl gi a ab si lsi et yt douf r$i n3 g, 5 t0h8e, 6l 7e a5s ei s t reer cmo radnedd t ihne ol et ha se er li inacbriel imt ye nrteapl rbeosrernotws i nt hger aot be l ai gt at thi eo nt i mt oe omf aa kdeo pl tei aosne. Tpha ey ml e ea ns et se xups ei nngs e aw dh ii sc choius nc to mr apt rei s tehda ot f rt ehpe raems eonrttei zda toi ounr oo fv et hr et hReOl Ue aas sesteetr amn da ntdh ei si mr epc ol i rcdi teidn ti ne roecsct uapcac nr ectye edxopne nt hs ee ilne at shee lci oa bn isloi tlyi d, ai st erde csot ag tnei mz eednot sn oaf si nt rcaoimg het. - l i n e b a s i s Currently, the Company has 18 non-cancellable real estate leases. The Company’s leases have remaining lease taenrdm $s 2r 1a n7 g, 1i n5 g7 ,f rroems p0e ct ot i v1e4l yy. e a Tr sh. eOCpoemr apt ianngy l eaal ss oe el ex apseenss ep froorp tehr et yy et oa r ceonmd me de 2r c0i 2a l5 caunsdt o2m0 2e r4s t. o tRa el endt a$l 1i8n7c ,o5m4 8e rreescporedcteidveolny.this property for the years ended December 31, 2025 and 2024 amounted to $237,881 and $239,993, Minimum future lease payments on these leases are as follows: 2026 $ 780,368 2027 730,063 2028 572,938 2029 305,941 2030 255,471 Thereafter 1,517,996 Future minimum lease commitments 4,162,777 Less imputed interest (654,102) Present value of lease liabilities $ 3,508,675
2025 Annual Report | 52
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