8 Leases

The Company determines if a contract contains a lease at inception. US GAAP requires that the Company’s leases be evaluated and classified as operating or finance leases for financial reporting purposes. The classification evaluation begins at the commencement date and the lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain and failure to exercise such option which results in an economic penalty.

The Company has four office premises operating lease agreements with lease terms ranging from 2two to 3three years, respectively. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Upon adoption of ASU 2016-02, no right-of-use (“ROU”) assets nor lease liability was recorded for the lease with a lease term of one year.

As of October 31, 2025, the Company had the following non-cancellable operating lease contracts:

 Schedule of non-cancellable operating lease contracts

 Schedule of amount recognized in the consolidated balance sheets

 Schedule of lease cost

Lease Commitment

Future minimum lease payments under non-cancellable operating lease agreements as of April 30, 2025 and October 31, 2025 were as follows:

 Schedule of future minimum lease payments under non-cancellable operating lease agreements

The following summarizes other supplemental information about the Company’s lease as of April 30, 2025 and October 31, 2025:

 Schedule of other supplemental information about lease

The Company determines if a contract contains a lease at inception. US GAAP requires that the Company’s leases be evaluated and classified as operating or finance leases for financial reporting purposes. The classification evaluation begins at the commencement date and the lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain and failure to exercise such option which results in an economic penalty.

The Company has four office premises operating lease agreements with lease terms ranging from 2 two to 3 three years, respectively. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Upon adoption of ASU 2016-02, no right-of-use (“ROU”) assets nor lease liability was recorded for the lease with a lease term of one year.

As of April 30, 2025, the Company had the following non-cancellable operating lease contracts:

 Schedule of non-cancellable operating lease contracts

 Schedule of amount recognized in the consolidated balance sheets

 Schedule of lease cost

Lease Commitment

Future minimum lease payments under non-cancellable operating lease agreements as of April 30, 2025 were as follows:

 Schedule of future minimum lease payments under non-cancellable operating lease agreements

The following summarizes other supplemental information about the Company’s lease as of April 30:

 Schedule of other supplemental information about lease