Quarterly report [Sections 13 or 15(d)]

LEASES (Tables)

v3.25.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2025
Leases  
SCHEDULE OF NET LEASE COST AND OTHER SUPPLEMENTAL LEASE

The following tables present net related party lease costs and other supplemental lease information. The disclosures assume that the Company will exercise its renewal option at the end of the original lease term.

 

    Six Months Ended  
   

June 30, 2025

  
Lease cost        
Operating lease cost (cost resulting from lease payments)   $ 68,019  
Sublease income    

-
Net lease cost   $

68,019

  
         
Operating lease – operating cash flows (fixed payments)   $ 68,019  
Operating lease – operating cash flows (liability reduction)   $ 31,722  
Current leases – right of use assets   $ 500,035  
Current liabilities – operating lease liabilities   $ 74,152  
Non-current liabilities – operating lease liabilities   $ 443,594  
         
Operating lease ROU assets   $ 500,035  
Weighted-average remaining lease term (in years)     4.84  
Weighted-average discount rate     10.91 %
SCHEDULE OF FUTURE MINIMUM PAYMENTS UNDER NON CANCELABLE LEASES

Future minimum payments under non-cancelable leases for operating leases for the remaining terms of the leases following the six months ended June 30, 2025:

 

Fiscal Year   Operating Leases  
2025   $ 63,000  
2026     130,200  
2027     136,710  
2028     143,546  
2029     150,723  
2030     51,051  
Total future minimum lease payments     675,230  
Less: Imputed Interest     (157,484 )
Present value of net future minimum lease payments   $ 517,746