|
NOTE
13 – LEASES
The
following tables present net related party lease costs and other supplemental lease information:
SCHEDULE OF NET LEASE COST AND OTHER SUPPLEMENTAL LEASE
| |
|
Year Ended |
|
| |
|
December 31, 2025
|
|
| Lease cost |
|
|
|
|
| Operating lease cost (cost resulting from lease payments) |
|
$ |
136,038 |
|
| Sublease income |
|
|
- |
|
| Net lease cost |
|
$ |
136,038 |
|
| |
|
|
|
|
| Operating lease – operating cash flows (fixed payments) |
|
$ |
136,038 |
|
| Operating lease – operating cash flows (liability reduction) |
|
$ |
67,278 |
|
| Current leases – right of use assets |
|
$ |
459,459 |
|
| Current liabilities – operating lease liabilities |
|
$ |
81,513 |
|
| Non-current liabilities – operating lease liabilities |
|
$ |
400,677 |
|
| |
|
|
|
|
| Operating lease ROU assets |
|
$ |
459,459 |
|
| Weighted-average remaining lease term (in years) |
|
|
4.33 |
|
| Weighted-average discount rate |
|
|
10.91 |
% |
| |
|
Year Ended |
|
| |
|
December 31, 2024
|
|
| Lease cost |
|
|
|
|
| Operating lease cost (cost resulting from lease payments) |
|
$ |
90,692 |
|
| Sublease income |
|
|
90,692 |
|
| Net lease cost |
|
$ |
- |
|
| |
|
|
|
|
| Operating lease – operating cash flows (fixed payments) |
|
$ |
90,692 |
|
| Operating lease – operating cash flows (liability reduction) |
|
$ |
38,446 |
|
| Current leases – right of use assets |
|
$ |
538,776 |
|
| Current liabilities – operating lease liabilities |
|
$ |
67,278 |
|
| Non-current liabilities – operating lease liabilities |
|
$ |
482,190 |
|
| |
|
|
|
|
| Operating lease ROU assets |
|
$ |
538,776 |
|
| Weighted-average remaining lease term (in years) |
|
|
5.33 |
|
| 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 year ended December
31, 2025:
SCHEDULE OF FUTURE MINIMUM PAYMENTS UNDER NON CANCELABLE LEASES
| Fiscal Year |
|
Operating Leases |
|
| 2026 |
|
$ |
130,200 |
|
| 2027 |
|
|
136,710 |
|
| 2028 |
|
|
143,546 |
|
| 2029 |
|
|
150,723 |
|
| 2030 |
|
|
51,051 |
|
| Total future minimum lease payments |
|
$ |
612,230 |
|
| Less: Imputed Interest |
|
|
(130,040 |
) |
| Present value of net future minimum lease payments |
|
$ |
482,190 |
|
|