Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Lease obligation

v3.26.1
Lease obligation
12 Months Ended
Dec. 31, 2025
Lease obligation  
Lease obligation

11.Lease obligation

The Company has entered into an office lease expiring in 2026, with an imputed interest rate of 8% per annum. A reconciliation of the outstanding lease obligation as at December 31, 2025 is as follows:

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​

​

​

​

  ​ ​ ​

$

Balance, December 31, 2023

​

11,510

Additions

​

96,998

Lease payments

​

(69,723)

Balance, December 31, 2024

​

38,785

Additions

​

88,074

Lease payments

​

(89,572)

Balance, December 31, 2025

​

37,287

​

The $88,074 lease obligation addition recognized in the year ended December 31, 2025 relates to an extension of the office lease to May 31, 2026. The $96,998 lease obligation recognized in the year ended December 31, 2024 relates to an extension of the office lease to May 31, 2025.

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The following is a schedule of the Company’s future minimum lease payments related to the office lease obligation:

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  ​ ​ ​

December 31, 

​

December 31, 

​

​

2025

​

2024

​

​

$

  ​ ​ ​

$

2025

​

—

​

39,535

2026

​

38,008

​

—

Total minimum lease payments

​

38,008

​

39,535

Less: imputed interest

​

(721)

​

(750)

Total present value of minimum lease payments

​

37,287

​

38,785

Less: current portion

​

(37,287)

​

(38,785)

Non-current portion

​

—

​

—

​