Leases |
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| LEASES | NOTE 12 — LEASES
Operating Leases
On November 30, 2023, the Company entered into an operating lease for an office. The lease term was from November 30, 2023 to November 29, 2026. ASC 842 requires leases to recognize right-of-use assets and lease liabilities on the balance sheet.
The lease agreement does not contain any material residual value guarantees or material restrictive covenants, and the extended lease contract does not contain options to extend at the time of expiration.
The weighted-average remaining lease term and the weighted-average discount rate of leases are as follows:
The following table summarizes the maturity of operating lease liabilities as of June 30, 2025:
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