v3.26.1
LEASES (Tables)
 6 Months Ended
Jun. 30, 2026
Leases  
SCHEDULE OF COMPONENTS OF LEASE AND SUPPLEMENTAL CASH FLOW INFORMATION

The components of lease expense and supplemental cash flow information related to operating leases and finance leases for the periods ended June 30, 2026, and 2025 are as follows:

 

   2026   2025 
   Six Months Ended June 30, 
   2026   2025 
   (Unaudited)   (Unaudited) 
Lease costs          
Operating lease costs:          
Rental expenses (1)  $42,762   $48,853 
Other rental expenses (2)   7,562    7,667 
Total operating lease costs   50,324    56,520 
Finance lease costs:          
Interest expenses  $362   $466 
Total finance lease costs   362    466 
Total lease costs  $50,686   $56,986 
           
Other information          
Cash paid for amounts included in the measurement of lease liabilities:          
Rental payment - operating leases  $42,762   $48,853 
Interest repayment - finance leases   362    466 
Principal repayment - finance leases   2,224    1,899 
Total cash paid  $45,348   $51,218 
Non-cash activity:          
Balance payment of ROU asset by finance lease liabilities  $9,035   $12,894 
Weighted average remaining lease term (in years):          
Operating leases   0.70    0.70 
Finance leases   1.92    2.92 
Weighted average discount rate:          
Operating leases   4.0%   4.0%
Finance leases   6.9%   6.9%

 

(1) Rental expenses include amortization of $41,733 and $47,582 and interest expenses of $1,029 and $1,271 during the six months ended June 30, 2026, and 2025, respectively.
   
(2) Other rental expenses represent those rental expenses for leases with a lease term within one year, and government rent and rates related to the leases.
SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES

The supplemental balance-sheet information related to leases as of June 30, 2026 and December 31, 2025, is as follows:

 

   As of
June 30, 2026		   As of
December 31, 2025		 
   (Unaudited)   (Audited) 
Assets          
Long-term operating lease ROU assets, net (1)  $53,577   $19,890 
Long-term finance lease ROU asset, net (2)   12,449    15,794 
Total ROU assets  $66,026   $35,684 
           
Liabilities          
Current portion of operating lease liabilities  $53,577   $19,890 
Current portion of finance lease liabilities   4,568    4,442 
Total current lease liabilities   58,145    24,332 
           
Long-term finance lease liabilities   4,467    6,833 
Total long-term lease liabilities   4,467    6,833 
Total lease liabilities  $62,612   $31,165 

 

(1) Operating lease ROU assets are measured at cost of $523,005 and $447,497, less accumulated amortization of $469,428 and $427,607 as of June 30, 2026, and December 31, 2025, respectively.
   
(2) Finance lease ROU assets are measured at cost of $28,898 less accumulated amortization of $16,449 and $13,104 as of June 30, 2026, and December 31, 2025, respectively.
SCHEDULE OF MATURITIES OF LEASE LIABILITIES

Maturities of the Company’s lease liabilities as of June 30, 2026, are as follows:

 

   Operating leases   Finance leases 
Year ending December 31,          
2026 (remaining 6 months)  $38,635   $2,523 
2027   15,786    5,045 
2028   -    2,099 
Total future minimum lease payments   54,421    9,667 
Less: Imputed interest / present value discount   (844)   (632)
Present value of lease liabilities  $53,577   $9,035 
           
Lease obligations          
Current lease obligations  $53,577   $4,568 
Long-term lease obligations   -    4,467 
Total lease obligations  $53,577   $9,035