With the adoption of ASC Topic 842, the Company has recorded a right-of-use asset and corresponding lease liability, by calculating the present value of future lease payments.

The Company entered into operating lease agreements for office spaces discounted at 3.39% (weighted average rate for operating leases), the Company’s incremental borrowing rate, over the expected term. The weighted average remaining operating lease term (years) was 2.61 as of April 30, 2026. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. Operating lease expenses were $108,862 and $27,518 for the six months ended April 30, 2026 and 2025, respectively.

Supplemental balance sheet information related to operating leases was as follows:

The Company entered into finance lease agreements for vehicle equipment discounted at 0% (weighted average rate for finance lease). The Company recognizes finance lease expense on a straight-line basis over the useful life of 5 years. Finance lease expenses was $7,306 for the six months ended April 30, 2025. As of October 31, 2025, the Company’s finance lease agreement expired, and the ownership of the vehicle was transferred to the Company. Accordingly, the related finance lease asset was reclassified to property and equipment.

Cash flow information related to lease consisted of the following:

The following is a schedule, by years, of maturities of lease liabilities as of April 30, 2026: