OPERATING LEASES

9 Months Ended

Oct. 31, 2024

Note 6 – OPERATING LEASES

In July 2021, the Company entered into a non-cancelable operating lease for an office facility in Irvine, California. The lease agreement required 36 monthly lease payments ranging from $14,796 to $16,013 per month. The lease commenced in August 2021 and expired in July 2024. The lease had a remaining lease term of less than three years, with no options to extend. The Company elected not to renew the lease. As of October 31, 2024, the lease had expired and no right-of-use asset or lease liability remained on the balance sheet. The Company has no remaining lease obligations or contingencies.

There are no lease transactions classified as finance leases for the nine months ended October 31, 2024.

The table below summarizes the components of operating lease costs related to operating leases for the three and nine months ended October 31, 2024, and 2023.

The components of lease expense were as follows:

	Three Months Ended				Nine Months Ended
	October 31,				October 31,
	2024		2023		2024		2023
Operating lease cost	$	-	$	39,995	$	79,991	$	119,986
Short-term lease cost		-		-		-		36,715
Variable lease cost		-		12,186		25,180		31,925
Total lease cost	$	-	$	52,181	$	105,171	$	188,626

Supplementary information on cash flow and other information for leasing activities for the nine months ended October 31, 2024, and 2023 are as follows:

	Nine Months Ended
	October 31,
	2024			2023
Cash paid for operating cash flows from operating leases	$	96,075		$	140,365
Right-of-use asset obtained in exchange for new operating lease liabilities	$	-		$	-

Remaining lease term - operating leases (year)		0.00			0.75
Discount rate — operating leases		10.00	%		10.00	%

Supplemental balance sheet information related to leases consists of:

	October 31,		January 31,
	2024		2024
Operating lease right-of-use asset	$	-	$	89,652

Operating lease liabilities:
Current portion	$	-	$	93,334
Non-current portion		-		-
	$	-	$	93,334