LEASES — AS A LESSEE (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Leases As Lessee |
|
| SCHEDULE OF LEASE COSTS |
The
components of lease costs are as follows:
SCHEDULE
OF LEASE COSTS
| | |
|
|
|
|
|
|
|
|
2025 | | |
2024 | |
| | |
For the Three Months Ended
June 30, |
|
|
For the Six Months Ended June 30, | |
| | |
2025 |
|
|
2024 |
|
|
2025 | | |
2024 | |
| Finance lease costs: | |
|
|
|
|
|
|
|
|
| | | |
| | |
| Amortization of finance lease right-of-use assets | |
$ |
30,870 |
|
|
$ |
— |
|
|
$ | 40,920 | | |
$ | — | |
| Interest on finance lease liabilities | |
|
2,977 |
|
|
|
— |
|
|
| 5,223 | | |
| — | |
| Total finance lease costs | |
|
33,847 |
|
|
|
— |
|
|
| 46,143 | | |
| — | |
| Operating lease costs | |
|
1,211,006 |
|
|
|
872,955 |
|
|
| 2,197,506 | | |
| 1,927,643 | |
| Short-term lease costs | |
|
114,987 |
|
|
|
100,939 |
|
|
| 155,328 | | |
| 180,053 | |
| Total lease costs | |
$ |
1,359,840 |
|
|
$ |
973,894 |
|
|
$ | 2,398,977 | | |
$ | 2,107,696 | |
|
| SCHEDULE OF SUPPLEMENTAL INFORMATION OPERATING LEASES |
The
following table presents supplemental information related to the Company’s leases:
SCHEDULE
OF SUPPLEMENTAL INFORMATION OPERATING LEASES
| | |
For the Six Months Ended June 30, | |
| | |
2025 | | |
2024 | |
| Cash paid for amounts included in the measurement of lease liabilities: | |
| | |
| |
| Operating cash flows from operating leases | |
$ | 2,275,398 | | |
$ | 1,992,121 | |
| Operating cash flows from finance leases | |
| 5,223 | | |
| — | |
| Financing cash flows from finance leases | |
| 278,097 | | |
| — | |
| Non-cash information: | |
| | | |
| | |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | |
| 104,437 | | |
| — | |
| Finance lease right-of-use assets obtained in exchange for finance lease liabilities | |
| 612,466 | | |
| — | |
| Remeasurement of operating lease liabilities and right-of-use assets due to lease modifications | |
| 1,160,680 | | |
| 1,376,034 | |
| Weighted average remaining lease term (years) | |
| | | |
| | |
| Operating leases | |
| 1.75 | | |
| 2.03 | |
| Finance leases | |
| 2.60 | | |
| — | |
| Weighted average discount rate (per annum) | |
| | | |
| | |
| Operating leases | |
| 0.69 | % | |
| 0.19 | % |
| Finance leases | |
| 5.05 | % | |
| — | |
|
| SCHEDULE OF MATURITY OF LEASE LIABILITIES |
As
of June 30, 2025, the future maturity of operating and finance lease liabilities is as follows:
SCHEDULE
OF MATURITY OF LEASE LIABILITIES
| Years ending December 31, | |
Operating Leases | | |
Finance Leases | |
| Remaining of 2025 | |
$ | 2,424,090 | | |
$ | 83,804 | |
| 2026 | |
| 1,644,921 | | |
| 134,201 | |
| 2027 | |
| 471,460 | | |
| 77,234 | |
| 2028 | |
| 141,390 | | |
| 43,778 | |
| 2029 | |
| 132,086 | | |
| 7,095 | |
| Thereafter | |
| 59,765 | | |
| — | |
| Total undiscounted lease payments | |
| 4,873,712 | | |
| 346,112 | |
| Less: imputed interest | |
| (41,325 | ) | |
| (20,051 | ) |
| Present value of lease liabilities | |
| 4,832,387 | | |
| 326,061 | |
| Less: lease liabilities, current | |
| (3,623,871 | ) | |
| (161,340 | ) |
| Lease liabilities, non-current | |
$ | 1,208,516 | | |
$ | 164,721 | |
|