v3.25.1
LEASE
9 Months Ended
Apr. 30, 2025
LEASE  
LEASE

Note 6 – LEASE

 

On July 1, 2024, the Company entered into an operating lease for the office, with the term of 31 months, monthly lease expenses of $4,000 with condition the first two months free rent.

 

For the three and nine months ended April 30, 2025, right-of-use asset and lease information about the Company’s operating lease consist of:

 

The components of lease expense were as follows:  

 

 

Three months ended

 

 

Nine months ended

 

 

 

April 30,

 

 

April 30,

 

 

 

2025

 

 

2025

 

Operating lease cost

 

$12,000

 

 

$32,000

 

Variable lease cost

 

 

(775)

 

 

1,677

 

Total lease cost

 

$11,225

 

 

$33,677

 

 

Supplemental cash flow information related to leases was as follows:

 

Cash paid for operating cash flows from operating leases

 

$32,000

 

 

 

 

 

 

Weighted-average discount rate — operating leases

 

 

5.88%

Weighted-average remaining lease term - operating leases (year)

 

 

1.76

 

 

Supplemental balance sheet information related to leases consists of:

 

 

 

April 30,

 

 

 

2025

 

Operating lease right-of-use asset

 

$74,612

 

Operating lease liabilities:

 

 

 

 

Current portion

 

 

44,725

 

Non-current portion

 

 

35,306

 

 

 

$80,031

 

 

The following table outlines the maturities of our lease liabilities as of April 30, 2025:

 

Year ending Jul 31,

 

 

 

2025 (excluding the nine months ended April 30, 2025)

 

$12,000

 

2026

 

 

48,000

 

2027

 

 

24,000

 

Thereafter

 

 

-

 

 

 

$84,000

 

Less imputed interest

 

 

(3,969)

Operating lease liabilities

 

$80,031