v3.25.2
NOTE 21 - COMMITMENTS AND CONTINGENCIES
3 Months Ended
Mar. 31, 2025
Notes  
NOTE 21 - COMMITMENTS AND CONTINGENCIES

NOTE 21 - COMMITMENTS AND CONTINGENCIES

 

Capital commitment

 

As of March 31, 2025 and December 31, 2024, no capital commitment was expected.

 

Legal Proceeding

 

As of March 31, 2025 and December 31, 2024, the Company is not aware of any material outstanding claim and litigation against it.

Lease commitment

 

The Company has operating leases for its corporate and sales offices and warehousing facilities. The Company’s leases have remaining terms of less than 1 year to less than 4 years.

 

The Company’s future minimum lease payments required under leases as of March 31, 2025 provides the following lease commitment:

 

For the year ending December 31,

 

 

 

 

2025 (remainder of year)

$

34,360

2026

 

303,080

2027

 

680,222

2028 and thereafter

 

-   

Total lease payments

$

1,017,662

 

The Company’s future minimum lease payments required under leases as of December 31, 2024 provides the following lease commitment:

 

For the year ending December 31,

 

 

 

 

2025

$

50,051

2026

 

371,445

2027

 

789,036

2028 and thereafter

 

-   

Total lease payments

$

1,210,532