| Schedule of Lease, Cost |
Right of use assets – operating leases
are summarized below:
| | |
March 31,
2026 | | |
December 31,
2025 | |
| | |
(unaudited) | | |
| |
| Building | |
$ | 349,168 | | |
$ | 411,060 | |
| Vehicles | |
| 94,325 | | |
| 101,329 | |
| Right of use assets, net | |
$ | 443,493 | | |
$ | 512,389 | |
Operating lease liabilities are summarized below:
| | |
March 31,
2026 | | |
December 31,
2025 | |
| | |
(unaudited) | | |
| |
| Building | |
$ | 359,013 | | |
$ | 419,168 | |
| Vehicles | |
| 94,325 | | |
| 101,329 | |
| Warehouse equipment | |
| - | | |
| - | |
| Office equipment | |
| - | | |
| - | |
| Lease liability | |
$ | 453,338 | | |
$ | 520,497 | |
| Less: current portion | |
| (294,679 | ) | |
| (285,534 | ) |
| Lease liability, non-current | |
$ | 158,659 | | |
$ | 234,963 | |
|
| Schedule of Finance Lease |
Financing lease liabilities are summarized below:
| | | March 31,
2026 | | | December 31,
2025 | | | | | (unaudited) | | | | | | Financing lease obligation under a lease agreement for a truck dated March 31, 2020 in the original amount of $152,548 payable in eighty-four monthly installments of $2,188 including interest at the rate of 5.44%. During the three months ended March 31, 2026, the Company made principal and interest payments on this lease obligation in the amounts of $6,189 and $375, respectively. During the three months ended March 31, 2025, the Company made principal and interest payments on this lease obligation in the amount of $5,862 and $702, respectively. | | $ | 23,427 | | | $ | 29,616 | | | | | | | | | | | | | Financing lease obligation under a lease agreement for a truck dated August 23, 2019 in the original amount of $80,413 payable in eighty-four monthly installments of $1,148 including interest at the rate of 5.0%. During the three months ended March 31, 2026, the Company concluded the obligation was fully paid off. Accordingly, there were no principal or interest payments made and the balance is zero as of March 31, 2026. During the three months ended March 31, 2025, the Company made principal and interest payments on this lease obligation in the amounts of $3,196 and $248, respectively. | | $ | - | | | $ | 7,904 | | | | | | | | | | | | | Financing lease obligation under a lease agreement for warehouse equipment dated September 12, 2024 in the original amount of $180,740 payable in sixty monthly payments in the minimum amount of $2,846 including interest at the rate of 6.01%. The amount of the monthly payments is based upon the amount of supplies and materials the Company purchases from the lessor each month. During the three months ended March 31, 2026, the Company made principal and interest payments on this lease obligation in the amount of $0 and capitalized interest in the amount of $813. During the three months ended March 31, 2025, the Company made principal and interest payments on this lease obligation in the amounts of $50,828 and $2,154, respectively. On March 18, 2026, this lease was assumed by a third party for a payment to the Company in the amount of $10,000. A loss of $79,599 was recorded on this transaction. | | $ | - | | | | 64,029 | | | | | | | | | | | | | Total | | $ | 23,427 | | | $ | 101,549 | | | | | | | | | | | | | Current portion | | $ | 23,427 | | | $ | 48,866 | | | Long-term maturities | | | - | | | | 52,683 | | | Total | | $ | 23,427 | | | $ | 101,549 | |
|
| Schedule of Lease, Cost |
The Company has financing leases for vehicles
and warehouse equipment. Right of use asset – financing leases are summarized below:
| | |
March 31,
2026 | | |
December 31,
2025 | |
| | |
(unaudited) | | |
| |
| Vehicles | |
$ | 214,405 | | |
$ | 404,858 | |
| Warehouse equipment | |
| - | | |
| 200,097 | |
| Total before accumulated depreciation | |
| 214,405 | | |
| 604,955 | |
| Less: accumulated depreciation | |
| (162,694 | ) | |
| (399,615 | ) |
| Total | |
$ | 51,711 | | |
$ | 205,340 | |
|