LEASES (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Leases |
|
| SCHEDULE OF BALANCES FOR THE OPERATING LEASES |
The
balances for operating leases where the Company is the lessee are presented within the condensed balance sheets as follows:
SCHEDULE OF BALANCES FOR THE OPERATING LEASES
| Operating Leases | |
June 30, 2026 | | |
December 31, 2025 | |
| Right of use-assets | |
$ | 18,920,775 | | |
$ | 6,516,415 | |
| | |
| | | |
| | |
| Lease liability-current | |
| 2,550,653 | | |
| 963,731 | |
| Lease liability-non-current | |
| 16,690,631 | | |
| 5,650,165 | |
| Total Operating Lease Liabilities | |
$ | 19,241,284 | | |
$ | 6,613,896 | |
| | |
| | | |
| | |
| Weighted average remaining lease term (in years) | |
| 7.82 | | |
| 7.19 | |
| Weighted average discount rate (%) | |
| 7.83 | | |
| 6.50 | |
|
| SCHEDULE OF COMPONENTS OF LEASE EXPENSES |
The
components of lease expenses for the six months ended June 30, 2026 and 2025 were as follows:
SCHEDULE OF COMPONENTS OF LEASE EXPENSES
| | |
2026 | | |
2025 | |
| | |
For the Six Months Ended June 30, | |
| | |
2026 | | |
2025 | |
| Operating lease cost | |
$ | 764,471 | | |
$ | 215,862 | |
| Cost of other leases with period less than one year and variable lease costs | |
| 238,947 | | |
| 168,699 | |
| Lease expenses | |
$ | 1,003,418 | | |
$ | 384,561 | |
|
| SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES |
Supplemental
cash flow information related to leases for the six months ended June 30, 2026 and 2025 were as follows:
SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES
| Cash Paid for Amounts Included in the Measurement of Lease Liabilities: | |
2026 | | |
2025 | |
| | |
For the Six Months Ended June 30, | |
| Cash Paid for Amounts Included in the Measurement of Lease Liabilities: | |
2026 | | |
2025 | |
| Operating cash flows from operating leases | |
$ | 1,003,418 | | |
$ | 384,561 | |
|
| SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES |
As
of June 30, 2026, the maturities of operating lease liabilities (excluding short-term lease) are as follows:
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES
| | |
Operating Lease | |
| Remainder of 2026 | |
$ | 1,827,924 | |
| 2027 | |
| 3,548,679 | |
| 2028 | |
| 3,290,436 | |
| 2029 | |
| 2,988,142 | |
| 2030 | |
| 2,477,012 | |
| 2031 and thereafter | |
| 11,377,381 | |
| Total Lease Payments | |
| 25,509,574 | |
| Less: imputed interest | |
| (6,268,290 | ) |
| Present Value of Lease Liabilities | |
$ | 19,241,284 | |
| Less: current portion | |
| (2,550,653 | ) |
| Lease Obligations, Noncurrent | |
| 16,690,631 | |
|