LEASES |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| LEASES | NOTE 5 - LEASES
On November 3, 2021, the Company entered into a lease agreement to rent a storage facility in Hong Kong for a two-year term at HK$17,000 (approximately $2,190) per month and paid HK$33,000 (approximately $4,230) as a security deposit.
In accordance with ASC 842, the Company recognized operating lease ROU assets and lease liabilities, which had balances as follows:
Future minimum lease payments under operating leases at September 30, 2023, were as follows:
The Company recognized total lease expenses of $19,710 and $19,710 for the nine months ended September 30, 2023 and 2022, respectively and of $6,570 and $6,570 for the three months ended September 30, 2023 and 2022, respectively. |
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