v3.26.1
Leases
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases

Note 7 – Leases

 

During the three months ended March 31, 2026 and 2025, the Company had eight operating lease agreements for a period of 4 years to 5 years. The leases were for corporate office, golf carts and golf equipment.

 

The components of leases related expenses charged to statements of income were as follows:

 

       
   For the three months ended 
   March 31, 
  

2026

(unaudited)

  

2025

(unaudited)

 
Operating lease cost  $76,843   $57,664 

 

 

Supplemental cash flow information related to leases was as follows:

 

       
   For the three months ended 
   March 31, 
   2026   2025 
Cash paid for amounts included in the measurement of lease liabilities:        
Operating cash flows from operating leases  $76,843   $57,664 
Weighted average discount rate   5.46%   4.97%
Weighted average remaining lease term (years)   3.77    4.06 

 

Supplemental balance sheet information related to leases was as follows:

 

   March 31,   December 31, 
   2026
(unaudited)		   2025
(audited)		 
Operating lease right-of-use asset  $869,016   $933,778 
Operating lease liabilities:          
Current portion   230,357    242,256 
Non-current portion   638,659    691,522 
Operating lease liability  $869,016   $933,778 

 

Future minimum lease payments under operating leases as of March 31, 2026 were as follows:

 

Period ending March 31,    
2026 (excluding three months ended March 31, 2026)  $208,897 
2027   247,495 
2028   247,495 
2029   193,535 
2030   63,250 
Total future minimum lease payments  $960,672 
Less: imputed interest   (91,656)
Operating lease liabilities  $869,016