Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 1408

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 1408
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 space for a base rent of $3,783 subject to a 3% yearly escalation.
The Company adopted ASC Topic 842, Leases upon inception of the lease.

As
of December 31, 2024 and 2023, the Company’s operating lease right-of-use asset, net (ROU) is $69,642 and $116,070, respectively,
and the total lease liability is $71,329 and $119,542, respectively, based on an incremental borrowing rate of 0.81% at lease inception.

Schedule
of Operating Lease Right-of-use Asset and  Liability

    December 31,  
    December 31, 

    2024  
    2023 
  
    Operating lease right-of-use asset (“ROU”) is summarized below: 

    Office lease ROU 
    $236,009  
    $236,009 
  
    Less accumulated reduction 
     (166,367) 
     (119,939)
  
    Balance of ROU, net 
    $69,642  
    $116,070 

    Operating lease liability related to the ROU asset is summarized below: 

    Office lease liability 
    $236,009  
    $236,009 
  
    Reduction of lease liability 
     (164,680) 
     (116,467)
  
    Total 
    $71,329  
    $119,542 

Future
minimum lease liability payments under non-cancelable operating lease at December 31, 2024 and 2023 are as follows:

Schedule
of Future Minimum Lease Liability Payments Under Non-cancelable Operating Lease

    2024 
     -  
     49,004 
  
    2025 
     50,476  
     50,476 
  
    2026 
     21,290  
     21,290 
  
    Total lease payments 
     71,766  
     120,770 
  
    Less: imputed interest 
     (437) 
     (1,228)
  
    Total lease liabilities 
    $71,329  
    $119,542 

    Current operating lease liabilities 
     50,082  
     48,213 
  
    Non-current operating lease liabilities 
     21,247  
     71,329 
  
    Total lease liabilities 
    $71,