Quarterly report [Sections 13 or 15(d)]

OPERATING LEASES (Tables)

v3.25.1
OPERATING LEASES (Tables)
 3 Months Ended
Mar. 31, 2025
Operating Leases  
SCHEDULE OF OPERATING LEASE COST AND SUPPLEMENTAL CASH FLOW INFORMATION

In accordance with ASC 842, the components of lease expense were as follows:

 

    2025     2024  
    Three Months ended March 31,  
    2025     2024  
Operating lease expense   $ 17,919     $ 17,919  
Short term lease cost   $ -     $ -  
Total lease expense   $ 17,919     $ 17,919  

 

In accordance with ASC 842, other information related to leases was as follows:

 

Three Months ended March 31,   2025     2024  
Operating cash flows from operating leases   $ 19,522     $ 18,954  
Cash paid for amounts included in the measurement of lease liabilities   $ 19,522     $ 18,954  
                 
Weighted-average remaining lease term—operating leases     1.42 years       2.42 years  
Weighted-average discount rate—operating leases     10 %     10 %
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

In accordance with ASC 842, maturities of operating lease liabilities as of March 31, 2025 were as follows:

 

    Operating  
Year ending:   Lease  
2025 (9 months)   $ 59,934  
2026     54,225  
Total undiscounted cash flows   $ 114,159  
         
Reconciliation of lease liabilities:        
Weighted-average remaining lease terms     1.42 years  
Weighted-average discount rate     10 %
Present values   $ 109,800  
         
Lease liabilities—current     72,300  
Lease liabilities—long-term     37,501  
Lease liabilities—total   $ 109,800  
         
Difference between undiscounted and discounted cash flows   $ 4,358