LEASES |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| LEASES | (7) Leases
Our operating leases primarily are for offices. The recognition of whether a contract contains a lease is made by evaluating whether the arrangement conveys the right to use an identified asset and whether we obtain substantially all the economic benefits from and has the ability to direct the use of the asset. As the office lease is over 12 months, the Company follows ASC 842 and recognized operating lease ROU assets and operating lease obligations.
MAIUS
PHARMACEUTICAL CO., LTD. SEPTEMBER 30, 2024 AND 2023
(7) Leases (cont.)
Supplemental balance sheet information for leases was as follows:
Operating lease expense for the years ended September 30, 2024 and 2023 was $44,889 and $45,436, respectively.
The undiscounted future minimum lease payment schedule as of September 30, 2024 is as follows:
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