Note
6 – OPERATING LEASES
We
are contractually bound by a non-cancellable operating lease relating to our operating segment, PAL. Lease costs recognized in our consolidated
financial statements are summarized as follows:
SCHEDULE OF OPERATING LEASE COSTS
| | |
April 30, | | |
October 31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Lease Liability | |
$ | 384,596 | | |
$ | 394,932 | |
| Future minimum lease payments | |
$ | 494,831 | | |
| 518,953 | |
| Remaining life of the lease in years (Expires March 31, 2033) | |
| 6.92 | | |
| 7.42 | |
| Discount Rate | |
| 6.75 | % | |
| 6.75 | % |
Estimated
future minimum lease payments and imputed interest as of April 30, 2026, are as follows:
SCHEDULE OF MATURITIES OF LEASE LIABILITIES
| Years | |
Total | |
| | |
| |
| 2026 (remaining 6 months) | |
$ | 32,644 | |
| 2027 | |
| 66,431 | |
| 2028 | |
| 68,424 | |
| 2029 | |
| 70,477 | |
| 2030 | |
| 72,591 | |
| Thereafter | |
| 184,264 | |
| Total Future minimum lease payments | |
| 494,831 | |
| | |
| | |
| Imputed Interest | |
| (110,235 | ) |
| Total | |
$ | 384,596 | |
| Lease Liability | |
$ | 384,596 | |
|