COMMITMENTS AND CONTINGENCIES |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| COMMITMENTS AND CONTINGENCIES | Note 19 COMMITMENTS AND CONTINGENCIES
Lease Commitment
The Company has two non-cancelable lease agreements for certain office and accommodation as well as fish farming containers for research and develop advanced technology for water circulation applying in fishery. Future minimum lease payments under non-cancellable operating leases with initial terms within one year. The Company recognizes lease expense on a straight-line basis over the lease term.
For the three months ended March 31, 2026 and 2025, the Company recognized $3,699 and $18,573 lease expense in operating expenses. The total future minimum lease payment under non-cancellable short-term leases as of March 31, 2026 is $7,588.
Capital commitments
As of March 31, 2026, the Company’s capital commitments contracted but not yet reflected in the consolidated financial statements amounted to $.
Contingencies
In the ordinary course of business, the Company may be subject to legal proceeding regarding contractual and employment relationships and a variety of other matters. The Company records contingent liabilities resulting from such claims when a loss is assessed to be probable and the amount of the loss is reasonably estimable.
The Company has no significant pending litigation as of March 31, 2026.
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