| LEASE |
NOTE
7. LEASE
The
Company leases office space in Hong Kong under a non-cancelable operating lease agreement executed on June 26, 2023, with a term ending
August 15, 2025. In April 2024, the Company entered into two additional non-cancelable operating lease agreements for office spaces located
in Rolling Hills Estates, California. The first lease commenced on April 10, 2024, and will expire on November 30, 2025. The second lease
began on April 22, 2024, and will terminate on April 30, 2025. In November 2024, the Company entered into another lease for office space
in Rolling Hills Estates, which commenced on November 11, 2024, and will expire on December 31, 2025.
The
balances for the operating leases where the Company is the lessee are presented within the balance sheets as follows:
SCHEDULE
OF OPERATING LEASES
| | |
As of | | |
As of | |
| | |
March 31, 2025 | | |
March 31, 2024 | |
| Operating leases: | |
| | | |
| | |
| Operating lease right-of-use assets | |
$ | 37,999 | | |
$ | 32,535 | |
| | |
| | | |
| | |
| Operating lease liabilities, current | |
$ | 38,109 | | |
$ | 23,097 | |
| Operating lease liabilities, noncurrent | |
| - | | |
| 9,813 | |
| Total operating lease liabilities | |
$ | 38,109 | | |
$ | 32,910 | |
| | |
| | | |
| | |
| Weighted average remaining lease term (in years) | |
| 0.43 | | |
| 1.42 | |
| Weighted average discount rate (%) | |
| 3.63 | % | |
| 3.63 | % |
The
components of lease expenses for the years ended March 31, 2025, 2024 and 2023 were as follows:
SCHEDULE
OF LEASES EXPENSES
| | |
| | |
| | |
| |
| | |
For the years ended March 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| Operating lease cost | |
$ | 73,351 | | |
$ | 23,468 | | |
$ | 23,013 | |
| Cost of other leases with period less than one year and variable lease costs | |
| 6,664 | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | |
| Lease expenses | |
$ | 80,015 | | |
$ | 23,468 | | |
$ | 23,013 | |
Supplemental
cash flow information related to leases for the years ended March 31, 2025, 2024 and 2023 were as follows:
SCHEDULE
OF CASH FLOW INFORMATION RELATED TO LEASES
| | |
| | |
| | |
| |
| | |
For the years ended March 31, | |
| Cash paid for amounts included in the measurement of lease liabilities: | |
2025 | | |
2024 | | |
2023 | |
| Operating cash flows from operating leases | |
$ | 80,015 | | |
$ | 23,468 | | |
$ | 23,013 | |
| Supplemental noncash information: | |
| | | |
| | | |
| | |
| Right-of-use assets obtained in exchange for lease obligation: | |
$ | 63,352 | | |
$ | 45,680 | | |
$ | 31,689 | |
As
of March 31, 2025, the maturities of operating lease liabilities (excluding short-term lease) are as follows:
SCHEDULE
OF MATURITIES OF OPERATING LEASE LIABILITIES
| For the year ending March 31, | |
Operating Lease | |
| 2025 | |
$ | 38,566 | |
| 2026 | |
| | |
| Total lease payments | |
| 38,566 | |
| Less: Imputed interest | |
| (457 | ) |
| Present value of lease liabilities | |
$ | 38,109 | |
| Less: current portion | |
| (38,109 | ) |
| Lease obligations, noncurrent | |
| | |
| | |
| | |
As
of March 31, 2024, the maturities of operating lease liabilities (excluding short-term lease) are as follows:
| For the year ending March 31, | |
Operating Lease | |
| 2025 | |
$ | 23,926 | |
| 2026 | |
| 9,880 | |
| Total lease payments | |
| 33,806 | |
| Less: Imputed interest | |
| (896 | ) |
| Present value of lease liabilities | |
$ | 32,910 | |
| Less: current portion | |
| (23,097 | ) |
| Lease obligations, noncurrent | |
$ | 9,813 | |
|