|
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
| |
|
Six Months Ended |
|
| |
|
June 30, 2026 |
|
| 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) |
|
$ |
38,596 |
|
| Current leases – right of use assets |
|
$ |
416,894 |
|
| Current liabilities – operating lease liabilities |
|
$ |
89,337 |
|
| Non-current liabilities – operating lease liabilities |
|
$ |
354,257 |
|
| |
|
|
|
|
| Weighted-average remaining lease term (in years) |
|
|
3.84 |
|
| 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 six months ended
June 30, 2026:
SCHEDULE OF FUTURE MINIMUM PAYMENTS UNDER NON CANCELABLE LEASES
| Fiscal Year |
|
Operating Leases |
|
| 2026 |
|
$ |
66,150 |
|
| 2027 |
|
|
136,710 |
|
| 2028 |
|
|
143,546 |
|
| 2029 |
|
|
150,723 |
|
| 2030 |
|
|
51,051 |
|
| Total future minimum lease payments |
|
|
548,180 |
|
| Less: Imputed Interest |
|
|
(104,586 |
) |
| Present value of net future minimum lease payments |
|
$ |
443,594 |
|
|