LEASES (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Leases |
|
| SCHEDULE OF SUPPLEMENTAL BALANCE INFORMATION |
Supplemental
balance sheet information related to operating and financing leases was as follows:
SCHEDULE OF SUPPLEMENTAL BALANCE INFORMATION
Operating
leases
| | |
March 31, 2026 (unaudited) | | |
December 31, 2025 | |
| | |
| | |
| |
| Operating lease liabilities – current | |
$ | 1,878,122 | | |
$ | 1,956,045 | |
| Operating lease liabilities - non-current | |
| 4,983,516 | | |
| 5,456,648 | |
| Total | |
$ | 6,861,638 | | |
$ | 7,412,693 | |
Financing
leases
| | |
March 31, 2026 (unaudited) | | |
December 31, 2025 | |
| | |
| | |
| |
| Finance lease liabilities – current | |
$ | 14,785 | | |
$ | 23,927 | |
| Finance lease liabilities - non-current | |
| 7,675 | | |
| 9,676 | |
| Total | |
$ | 22,460 | | |
$ | 33,603 | |
|
| SCHEDULE OF SUPPLEMENTAL CASH FLOW AND NON-CASH INFORMATION |
The
following table includes supplemental cash flow and non-cash information related to leases:
SCHEDULE OF SUPPLEMENTAL CASH FLOW AND NON-CASH INFORMATION
| | |
Three months ended | | |
Three months ended | |
| | |
March 31, 2026 (unaudited) | | |
March 31, 2025 | |
| Cash paid of amounts included in the measurement of lease liabilities: | |
| | | |
| | |
| Operating cash flows used in operating leases | |
$ | 551,055 | | |
$ | 716,942 | |
| Operating cash flows used in finance leases | |
$ | - | | |
$ | 895 | |
| Financing cash flows used in finance leases | |
$ | 11,582 | | |
$ | 10,686 | |
| Right-of-use assets obtained in exchange for lease obligations: | |
| | | |
| | |
| Finance lease liabilities | |
$ | - | | |
$ | - | |
| Operating lease liabilities | |
$ | 424,170 | | |
$ | - | |
|
| SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERMS AND DISCOUNT RATES |
The
weighted average remaining lease terms and discount rates for all of operating lease and finance leases were as follows:
SCHEDULE
OF WEIGHTED AVERAGE REMAINING LEASE TERMS AND DISCOUNT RATES
| | |
March 31, 2026 (unaudited) | | |
December 31, 2025 | |
| Weighted-average remaining lease term (years): | |
| | | |
| | |
| Finance lease | |
| 1.15 years | | |
| 1.31 years | |
| Operating leases | |
| 4.18 years | | |
| 3.53 years | |
| | |
| | | |
| | |
| Weighted average discount rate: | |
| | | |
| | |
| Finance leases | |
| 5.80 | % | |
| 5.69 | % |
| Operating leases | |
| 8.50 | % | |
| 8.55 | % |
|
| SCHEDULE OF MATURITIES OF OPERATING AND FINANCE LEASE LIABILITIES |
The
following is a schedule of maturities of operating and finance lease liabilities as of March 31, 2025:
SCHEDULE OF MATURITIES OF OPERATING AND FINANCE LEASE LIABILITIES
Operating
leases
| Twelve months ending March 31, | |
| | |
| Operating leases | |
| | |
| 2026 | |
$ | 2,387,799 | |
| 2027 | |
| 2,343,000 | |
| 2028 | |
| 2,343,000 | |
| 2029 | |
| 830,500 | |
| 2030 | |
| - | |
| Total future minimum lease payments | |
| 7,904,299 | |
| Less: imputed interest | |
| (1,042,661 | ) |
| Present value of operating lease liabilities | |
$ | 6,861,638 | |
Finance
leases
| Twelve months ending March 31, | |
| | |
| Finance leases | |
| | |
| 2026 | |
$ | 15,353 | |
| 2027 | |
| 7,976 | |
| 2028 | |
| - | |
| Total future minimum lease payments | |
| 23,329 | |
| Less: imputed interest | |
| (869 | ) |
| Present value of finance lease liabilities | |
$ | 22,460 | |
|