| Leases |
Note 7 – Leases
During the three months ended March 31, 2025 and 2024,
the Company had six operating lease agreements for a period of 4 years to 5 years. The leases were for corporate office, golf carts and
golf equipment.
The
components of leases related expenses charged to statements of income were as follows:
Schedule
of Lease Expense
| | |
2025 | | |
2024 | |
| | |
For the three months ended | |
| | |
March 31, | |
| | |
2025 | | |
2024 | |
| Operating lease cost | |
$ | 57,664 | | |
$ | 57,716 | |
Supplemental
cash flow information related to leases was as follows:
Schedule
of Supplemental Cash Flow Information Related to Leases
| | |
2025 | | |
2024 | |
| | |
For the three months ended | |
| | |
March 31, | |
| | |
2025 | | |
2024 | |
| Cash paid for amounts included in the measurement of lease liabilities: | |
| | |
| |
| Operating cash flows from operating leases | |
$ | 57,664 | | |
$ | 57,716 | |
| Weighted average discount rate | |
| 4.97 | % | |
| 3.47 | % |
| Weighted average remaining lease term (years) | |
| 4.06 | | |
| 1.77 | |
Supplemental
balance sheet information related to leases was as follows:
Schedule
of Supplemental Balance Sheet Information Related to Leases
| | |
March 31, | | |
December 31, | |
| | |
2025 | | |
2024 | |
| Operating lease right-of-use asset | |
$ | 727,072 | | |
$ | 775,546 | |
| Operating lease liabilities: | |
| | | |
| | |
| Current portion | |
| 194,038 | | |
| 195,115 | |
| Non-current portion | |
| 533,034 | | |
| 580,431 | |
| Operating lease liability | |
$ | 727,072 | | |
$ | 775,546 | |
Future
minimum lease payments under operating leases as of March 31, 2025 were as follows:
Schedule
of Future Minimum Lease Payments Under Operating Leases
| Year ending December 31, | |
| |
| 2025 (excluding three months ended March 31, 2025) | |
$ | 170,766 | |
| 2025 | |
$ | 170,766 | |
| 2026 | |
| 200,125 | |
| 2027 | |
| 161,880 | |
| 2028 | |
| 161,880 | |
| 2029 | |
| 107,920 | |
| Total future minimum lease payments | |
$ | 802,571 | |
| Less: imputed interest | |
| (75,499 | ) |
| Operating lease liabilities | |
$ | 727,072 | |
|
Note
7 – Leases
During
the years ended December 31, 2024, 2023 and 2022, the Company had six operating agreements for a period of 4
years to 5
years. The leases were for corporate office, golf carts and golf equipment.
The
components of leases related expenses charged to statements of operations were as follows:
Schedule
of Lease Expense
| | |
2024 | | |
2023 | |
|
|
|
|
| | |
Years Ended December 31, |
|
| | |
2024 | | |
2023 | |
|
2022 |
|
| Operating lease cost | |
$ | 247,109 | | |
$ | 230,865 | |
|
$ |
183,382 |
|
Supplemental
cash flow information related to leases was as follows:
Schedule
of Supplemental Cash Flow Information Related to Leases
| | |
2024 | | |
2023 | |
|
|
|
|
| | |
Years Ended December 31, |
|
| | |
2024 | | |
2023 | |
|
2022 |
|
| Cash paid for amounts included in the measurement of lease liabilities: | |
| | |
| |
|
|
|
|
| Operating cash flows from operating leases | |
$ | 247,109 | | |
$ | 230,865 | |
|
$ |
183,382 |
|
| Weighted average discount rate | |
| 4.95 | % | |
| 3.44 | % |
|
|
3.26 |
% |
| Weighted average remaining lease term (years) | |
| 4.26 | | |
| 2.08 | |
|
|
2.85 |
|
Supplemental
balance sheet information related to leases was as follows:
Schedule
of Supplemental Balance Sheet Information Related to Leases
| | |
2024 | | |
2023 | |
| | |
As of December 31, | |
| | |
2024 | | |
2023 | |
| Operating lease right-of-use asset | |
$ | 775,546 | | |
$ | 363,296 | |
| Operating lease liabilities: | |
| | | |
| | |
| Current portion | |
| 195,115 | | |
| 222,275 | |
| Non-current portion | |
| 580,431 | | |
| 141,021 | |
| Operating lease liability | |
$ | 775,546 | | |
$ | 363,296 | |
Future
minimum lease payments under operating leases as of December 31, 2024 were as follows:
Schedule
of Future Minimum Lease Payments Under Operating Leases
| Year ending December 31, | |
| |
| 2025 | |
$ | 228,430 | |
| 2026 | |
| 200,125 | |
| 2027 | |
| 161,880 | |
| 2028 | |
| 161,880 | |
| 2029 | |
| 107,920 | |
| Total future minimum lease
payments | |
$ | 860,235 | |
| Less imputed interest | |
| (84,689 | ) |
| Operating lease liabilities | |
$ | 775,546 | |
|