COMMITMENT AND CONTINGENCIES |
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| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| COMMITMENT AND CONTINGENCIES | NOTE 7 – COMMITMENT AND CONTINGENCIES
Leases
The Company has elected not to recognize right-of-use (ROU) assets and lease liabilities that arise from short-term (12 months or less) leases for any class of underlying asset. For leases with more than 12 months, the Company recognize operating lease right-of-use assets and liabilities are at commencement date based on the present value of lease payments over the lease term. The discount rate used to calculate present value is incremental borrowing rate or, if available, the rate implicit in the lease.
On May 1, 2023, the Company entered into a commercial lease agreement for office space to be used as the Company’s headquarter office for private education. The base rent is CA$4,109.16 (US$3,109.35) per month. This lease was terminated as of December 31, 2023.
On January 1, 2024, the Company entered into a new commercial lease agreement for office space to be used as the Company’s headquarter office for private education. The base rent is CA$4,366.86 (US$3,295.76) per month for year 2024 and the base rent will increase subsequently each year.
Operating lease expenses were $28,254 and $24,333 for the years ended December 31, 2024 and 2023, respectively.
The components of lease expense and supplemental cash flow information related to leases for the period are as follows:
The supplemental balance sheet information related to leases is as follows:
The undiscounted future minimum lease payment schedule as follows:
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