| RIGHT-OF-USE (“ROU”) ASSETS AND LEASE PAYABLE |
| 7. |
RIGHT-OF-USE
(“ROU”) ASSETS AND LEASE PAYABLE |
The
Company’s operating lease right-of-use (“ROU”) assets relate primarily to office premises. The Company recognized operating
lease ROU assets and lease liabilities as follows:
SCHEDULE OF OPERATING LEASE ROU ASSETS AND LEASE LIABILITIES
| | |
2025 | | |
2026 | |
| | |
As
of March 31, | |
| | |
2025 | | |
2026 | |
| | |
US$ | | |
US$ | |
| | |
| | |
| |
| Operating lease right-of-use
assets | |
| 443,791 | | |
| 1,412,651 | |
| Less : Accumulated
amortization | |
| (301,266 | ) | |
| (440,451 | ) |
| Right-of-use asset,
net | |
| 142,525 | | |
| 972,200 | |
| |
Amortization
of operating lease right-of-use assets was US$453,608, US$214,842 and US$154,198 for the years ended March 31, 2026, 2025 and 2024
respectively. The amortization is included in depreciation and amortization in the consolidated statements of operations and comprehensive
income (loss). |
| | |
2025 | | |
2026 | |
| | |
As
of March 31, | |
| | |
2025 | | |
2026 | |
| | |
US$ | | |
US$ | |
| | |
| | |
| |
| Lease liabilities | |
| | | |
| | |
| Current portion | |
| 144,747 | | |
| 462,490 | |
| Non-current portion | |
| 981 | | |
| 527,751 | |
| Total | |
| 145,728 | | |
| 990,241 | |
The
following summarizes other supplemental information about the Company’s operating lease as of March 31, 2026:
SCHEDULE OF OTHER SUPPLEMENTAL INFORMATION OF OPERATING LEASE
| Weighted-average discount rate | |
| 5.01 | % |
| Weight-average remaining
lease term (years) | |
| 2.12
years | |
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
| 7. |
RIGHT-OF-USE
(“ROU”) ASSETS AND LEASE PAYABLE - CONTINUED |
A
summary of lease cost recognized in the Group’s consolidated statements of operations and comprehensive income and supplemental
cash flow information related to operating leases is as follows:
SCHEDULE
OF LEASE COST RELATED TO OPERATING LEASES
| | |
2024 | | |
2025 | | |
2026 | |
| | |
For
the Years Ended March 31, | |
| | |
2024 | | |
2025 | | |
2026 | |
| | |
US$ | | |
US$ | | |
US$ | |
| | |
| | |
| | |
| |
| Short
term lease expenses | |
| - | | |
| - | | |
| 9,169 | |
| Cash paid for operating leases | |
| 169,605 | | |
| 288,417 | | |
| 433,107 | |
Future
lease payments under lease liabilities as of Mar 31, 2026 were as follows:
SCHEDULE
OF FUTURE LEASE PAYMENTS UNDER LEASE LIABILITIES
| Year Ending March 31, | |
US$ | |
| | |
| |
| 2027 | |
| 501,304 | |
| 2028 | |
| 466,623 | |
| 2029 | |
| 77,771 | |
| Total operating lease
payments | |
| 1,045,698 | |
| Less: Imputed interest | |
| (55,457 | ) |
| Present
value of operating lease liabilities | |
| 990,241 | |
|