v3.26.1
Lease
12 Months Ended
Dec. 31, 2025
Lease [Abstract]  
Lease

Note 17 — Lease

 

The Company follows ASC 842 Leases. The Company has entered into lease agreements for vehicle, office and warehouse space in California, Pennsylvania and Texas. $133,889 and $470,716 of operating lease right-of-use assets and $137,011 and $467,982 of operating lease liabilities were reflected on the December 31, 2025 and 2024 financial statements, respectively. 

  

On May 28, 2023, Visiontech entered into a lease agreement for a vehicle. The leasing term began on May 28, 2023 and will terminate on April 28, 2025 with a first installment of $15,000 and then continuously monthly payment of $1,550.

 

On April 11, 2024, the Company entered into a lease agreement for an office located in California. The lease term was from May 1, 2024 to April 30, 2027. The lease payments are $8,528 per month for the period commencing May 1, 2024 and ending April 30, 2025, $8,784 per month for the period commencing May 1, 2025 and ending April 30, 2026, $9,047 per month for the period commencing May 1, 2026 and ending April 30, 2027.

  

As of December 31, 2025 and 2024, the weighted-average remaining operating lease term of its existing leases is approximately 1.33 and 2.04 years, respectively. As of December 31, 2025 and 2024, the average discount rate of its existing leases is approximately 6.76% and 7.14%, respectively.

 

Lease cost  December 31,
2025
   December 31,
2024
 
Operating lease cost (included in Cost of Revenue and Other Expense in the Company’s Statement of Operations)  $249,223   $409,453 
Other information          
Cash paid for amounts included in the measurement of lease liabilities   102,049    426,454 
Weighted average remaining term in years   1.33    2.04 
Average discount rate – operating leases   6.76%   7.14%

 

The supplemental balance sheet information related to leases for the period is as follows:

 

   As of
December 31,
2025
   As of
December 31,
2024
 
Operating leases        
Right of use asset   133,889    470,716 
Lease Liability – current portion   101,327    262,380 
Lease Liability – net of current portion   35,684    205,602 
Total operating lease liabilities  $137,011   $467,982 

 

Maturities of the Company’s lease liabilities are as follows:

 

Twelve months ended December 31,  Operating
Lease
 
2026  $107,511 
2027   36,188 
Thereafter   
-
 
Less: Imputed interest/present value discount   (6,688)
Present value of lease liabilities  $137,011