Nakamoto Inc. Leases Disclosure
NOTE 8—LEASES
Operating Leases
The Company leases medical clinic and corporate office facilities under operating lease arrangements with remaining lease terms ranging from approximately one to seven years. Certain leases include renewal options that may be exercised at the Company’s discretion. The Company’s leases do not include material residual value guarantees or restrictive covenants.
The following was included in the balance sheets at December 31, 2025 and 2024:
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Operating lease right-of-use assets | $ | 482,553 | $ | 641,651 | ||||
| Operating lease liabilities, current portion | 130,050 | 138,743 | ||||||
| Operating lease liabilities, long-term | 365,966 | 496,017 | ||||||
| $ | 496,016 | $ | 634,760 | |||||
| Weighted-average remaining lease term (years) | 4.9 | 5.8 | ||||||
| Weighted average discount rate | 7.8 | % | 9.0 | % | ||||
The components of net lease expense consisted of the following for the years ended December 31, 2025 and 2024:
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Operating lease expense | $ | 205,252 | $ | 139,390 | ||||
| Variable lease expense | (88 | ) | 8,365 | |||||
| Total lease expense | 205,164 | 147,755 | ||||||
| Sublease (income) | ||||||||
| Total net lease expense | $ | 205,164 | $ | 147,755 | ||||
Operating lease right-of-use assets is included within “Other non-current assets” on the accompanying consolidated balance sheets. Cash payments included in the measurement of operating lease liabilities were $166,320 and $149,029 for the years ended December 31, 2025 and 2024, respectively. The decrease in respective periods was primarily due to the closing of redundant office locations.
Estimated future minimum payments of operating leases for the next five years consists of the following at December 31, 2025:
| Year Ending December 31, | Amount | |||
| 2026 | $ | 164,150 | ||
| 2027 | 86,366 | |||
| 2028 | 87,444 | |||
| 2029 | 83,886 | |||
| 2030 | 86,404 | |||
| Thereafter | 88,996 | |||
| Total | 597,247 | |||
| Less: imputed interest | (101,231 | ) | ||
| Total operating lease liabilities | $ | 496,016 | ||
Finance Leases
On April 22, 2024, the Company entered into an equipment financing lease to purchase medical equipment for $10,976, which matures in July 2029. The Company paid off the equipment financing lease in 2025.
The following was included in the balance sheets at December 31, 2025 and 2024:
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Leased medical equipment (property and equipment) | $ | 10,976 | $ | 10,976 | ||||
| Less: accumulated depreciation | (3,842 | ) | (1,646 | ) | ||||
| Total leased medical equipment, net | $ | 7,134 | $ | 9,330 | ||||
| Finance lease liabilities, current portion | 2,030 | |||||||
| Finance lease liabilities, long-term | 7,615 | |||||||
| Total finance lease liabilities | $ | $ | 9,645 | |||||
| Weighted-average remaining lease term (years) | - | 4.6 | ||||||
| Weighted average discount rate | % | 2.0 | % | |||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 30, 2026 | Showing above |
| 2024 | Mar 28, 2025 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.