Company: BCHT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003808
Chunk: 105

Company: Birchtech Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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 term. Rent is $1,400 monthly until July 31, 2027, and then effectively $1,540 per month until July 31, 2030. Upon commencement of the lease the Company recorded a right of use asset and an operating lease liability of $69,615. On November 22, 2024, the Company entered into an approximate 3-year lease for laboratory space in State College, Pennsylvania, commencing December 15, 2024 and ending November 30, 2027. The lease contains an option to extend for a further three years that the Company is reasonably certain to exercise. As a result, the additional three year extension is included as part of the lease term. Rent is $1,800 monthly until November 30, 2025, $1,860 monthly thereafter until November 30, 2026, and $1,920 monthly thereafter until November 30, 2027. During the option period, rent is $1,980 monthly from December 1, 2027 to November 30, 2028, $2,040 monthly thereafter through November 30, 2029, and $2,100 monthly thereafter through November 30, 2030. Upon commencement of the lease the Company recorded a right of use asset and an operating lease liability of $94,942. For the three months ended March 31, 2025 and the year ended December 31, 2024, the Company recorded an operating lease right of use asset and liabilities as follows:    March 31,  December 31,   2025  2024        Right of use asset - operating lease $294,125  $305,142 Current portion of operating lease liability  44,464   42,733 Operating lease liability  296,077   306,223  Future remaining minimum lease payments under these non-cancelable leases are as follows:  For the twelve months ended March 31,   2026 $83,640 2027  85,752 2028  87,592 2029  88,872 2030  43,200 Thereafter  22,961 Total  412,017 Less discount  (115,940 )Total lease liabilities  296,077 Less current portion  (44,464 )Operating lease obligation, net of current portion