v3.26.1
PROPERTY AND EQUIPMENT, NET
 3 Months Ended
Mar. 31, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

Note 4. PROPERTY AND EQUIPMENT, NET

 

Property and Equipment, net consisted of the following:

  

   March 31,
2026		   December 31,
2025		 
Cost          
Leasehold improvement  $118,334   $119,914 
Computer equipment   82,046    77,582 
Furniture & Fittings   3,174    3,133 
Motor Vehicle   32,031    32,255 
Total cost  $235,585   $232,884 
           
Less: accumulated depreciation #          
Leasehold improvement   $33,113   $33,603 
Computer equipment   30,236    29,861 
Furniture & Fittings   892    880 
Motor Vehicle   2,669    1,882 
Total accumulated depreciation  $66,910   $66,226 
           
Less: impairment ##          
Leasehold improvement  $86,033   $86,033 
Computer equipment   46,510    46,510 
Furniture & Fittings   2,199    2,199 
Total impairment##  $134,742   $134,742 
Less: Foreign currency translation adjustment  $(626)  $724 
           
Net value at the end of period          
Leasehold improvement  $-   $- 
Computer equipment   5,197    819 
Furniture & Fittings   -    - 
Motor Vehicle   29,361    30,373 
Total Net  $34,559   $31,192 

 

# –Total of depreciation expenses charged for the three months ended March 31, 2026 and 2025 were $1,358 and $10,081, respectively, of which $0 and $5,478 were booked under cost of revenue for the three months ended March 31, 2026 and 2025, respectively, and $1,358 and $4,602 were booked under general and administrative expenses for the three months ended March 31, 2026 and 2025, respectively.

 

## As of December 31, 2025, the Company recorded impairment on property and equipment of $134,742 under operating expenses. Management evaluated the operational results and identified that the Company’s F&B business has continued to incur losses and is not expected to generate profits in the foreseeable future. As significant portion of those assets are associated with Dongguan Leyouyou Catering Management Co., Ltd. (“HCDG”) in the PRC and Hapi Café Co., Ltd. (“HCTW”) in Taiwan, management has fully impaired the property and equipment of $134,742 for those locations during the year ended December 31, 2025. For the remaining immaterial property and equipment of other locations, management evaluated them to make profits in the future, and would continue to assess potential impairment to them.