Leases |
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| LEASES | NOTE 6 — LEASES
The Company’s leasing activities primarily consist of three operating leases for offices and vehicles. ASC 842 requires leases to recognize right-of-use assets and lease liabilities on the balance sheet. The Company has elected an accounting policy to not recognize short-term leases (one year or less) on the balance sheet.
The weighted-average remaining lease term and the weighted-average discount rate of leases are as follows:
During the six months ended March 31, 2026 and 2025, the Company incurred total operating lease expenses of $169,326 and $180,753, respectively.
The following table summarizes the maturity of operating lease liabilities as of March 31, 2026:
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