|
NOTE 12 – LEASES
The following tables present net
related party lease costs and other supplemental lease information:
SCHEDULE
OF NET LEASE COST AND OTHER SUPPLEMENTAL LEASE
| |
|
Three Months Ended |
|
| |
|
March 31, 2025
|
|
| Lease cost |
|
|
|
|
| Operating lease cost (cost resulting from lease payments) |
|
$ |
34,010 |
|
| Sublease income |
|
|
(34,010 |
) |
| Net lease cost |
|
$ |
- |
|
| |
|
|
|
|
| Operating lease – operating cash flows (fixed payments) |
|
$ |
34,010 |
|
| Operating lease – operating cash flows (liability reduction) |
|
$ |
15,150 |
|
| Current leases – right of use assets |
|
$ |
519,616 |
|
| Current liabilities – operating lease liabilities |
|
$ |
70,644 |
|
| Non-current liabilities – operating lease liabilities |
|
$ |
463,674 |
|
| |
|
|
|
|
| Operating lease ROU assets |
|
$ |
519,616 |
|
| Weighted-average remaining lease term (in years) |
|
|
5.08 |
|
| Weighted-average discount rate |
|
|
10.91 |
% |
Future minimum payments under
non-cancelable leases for operating leases for the remaining terms of the leases following the three months ended March 31, 2025:
SCHEDULE
OF FUTURE MINIMUM PAYMENTS UNDER NON CANCELABLE LEASES
| Fiscal Year |
|
Operating Leases |
| 2025 |
|
$ |
94,000 |
| 2026 |
|
|
130,200 |
| 2027 |
|
|
136,710 |
| 2028 |
|
|
143,546 |
| 2029 |
|
|
150,723 |
| 2030 |
|
|
51,051 |
| Total future minimum lease payments |
|
|
706,230 |
| Less: Imputed Interest |
|
|
(171,912) |
| Present value of net future minimum lease payments |
|
$ |
534,318 |
|