Annual report [Section 13 and 15(d), not S-K Item 405]

OPERATING LEASES (Tables)

v3.25.1
OPERATING LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
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:

 

    2024     2023  
    Years ended December 31,  
    2024     2023  
Operating lease expense   $ 71,676     $ 71,676  
Short term lease cost   $ -     $ -  
Total lease expense   $ 71,676     $ 71,676  

 

 

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

 

Years ended December 31,   2024     2023  
Operating cash flows from operating leases   $ 77,142     $ 54,263  
Cash paid for amounts included in the measurement of lease liabilities   $ 77,142     $ 54,263  
                 
Weighted-average remaining lease term—operating leases     1.67 years       2.67 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 December 31, 2024 were as follows: 

 

    Operating  
Year ending:   Lease  
2025   $ 79,456  
2026     54,225  
Total undiscounted cash flows   $ 133,681  
         
Reconciliation of lease liabilities:        
Weighted-average remaining lease terms     1.67 years  
Weighted-average discount rate     10 %
Present values   $ 126,302  
         
Lease liabilities—current     69,946  
Lease liabilities—long-term     56,356  
Lease liabilities—total   $ 126,302  
         
Difference between undiscounted and discounted cash flows   $ 7,379