LEASES — AS A LESSEE (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Leases As Lessee |
|
| SCHEDULE OF LEASE COSTS |
The components of lease costs are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months
Ended June 30, |
|
|
For the Six Months
Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Finance lease costs: |
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of finance lease right-of-use assets |
|
$ |
28,495 |
|
|
$ |
30,870 |
|
|
$ |
60,347 |
|
|
$ |
40,920 |
|
Interest on finance lease liabilities |
|
|
2,521 |
|
|
|
2,977 |
|
|
|
5,467 |
|
|
|
5,223 |
|
Total finance lease costs |
|
|
31,016 |
|
|
|
33,847 |
|
|
|
65,814 |
|
|
|
46,143 |
|
Operating lease costs |
|
|
1,464,681 |
|
|
|
1,211,006 |
|
|
|
2,910,340 |
|
|
|
2,197,506 |
|
Short-term lease costs |
|
|
64,259 |
|
|
|
114,987 |
|
|
|
112,339 |
|
|
|
155,328 |
|
Total lease costs |
|
$ |
1,559,956 |
|
|
$ |
1,359,840 |
|
|
$ |
3,088,493 |
|
|
$ |
2,398,977 |
|
NOTE 13 — LEASES — AS A LESSEE (cont.)
|
| SCHEDULE OF SUPPLEMENTAL INFORMATION OPERATING LEASES |
The following table presents supplemental information related to the Company’s leases:
|
|
|
|
|
|
|
|
|
|
|
For the Six Months
Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
Operating cash flows from operating leases |
|
$ |
2,876,789 |
|
|
$ |
2,275,398 |
|
Operating cash flows from finance leases |
|
|
5,467 |
|
|
|
5,223 |
|
Financing cash flows from finance leases |
|
|
71,942 |
|
|
|
278,097 |
|
Non-cash information: |
|
|
|
|
|
|
Operating lease right-of-use assets obtained in exchange for operating lease liabilities |
|
|
67,106 |
|
|
|
104,437 |
|
Finance lease right-of-use assets obtained in exchange for finance lease liabilities |
|
|
— |
|
|
|
612,466 |
|
Remeasurement of operating lease liabilities and right-of-use assets due to lease modifications |
|
|
4,844,803 |
|
|
|
1,160,680 |
|
Weighted average remaining lease term (years) |
|
|
|
|
|
|
Operating leases |
|
|
2.19 |
|
|
|
1.75 |
|
Finance leases |
|
|
2.07 |
|
|
|
2.60 |
|
Weighted average discount rate (per annum) |
|
|
|
|
|
|
Operating leases |
|
|
0.93 |
% |
|
|
0.69 |
% |
Finance leases |
|
|
5.31 |
% |
|
|
5.05 |
% |
|
| SCHEDULE OF MATURITY OF LEASE LIABILITIES |
As of June 30, 2026, the future maturity of operating and finance lease liabilities is as follows:
|
|
|
|
|
|
|
|
|
Years ending December 31, |
|
Operating
Leases |
|
|
Finance
Leases |
|
Remainder of 2026 |
|
$ |
2,781,068 |
|
|
$ |
56,110 |
|
2027 |
|
|
4,513,169 |
|
|
|
76,703 |
|
2028 |
|
|
2,805,266 |
|
|
|
43,782 |
|
2029 |
|
|
263,360 |
|
|
|
7,335 |
|
2030 |
|
|
53,061 |
|
|
|
— |
|
Thereafter |
|
|
12,317 |
|
|
|
— |
|
Total undiscounted lease payments |
|
|
10,428,241 |
|
|
|
183,930 |
|
Less: imputed interest |
|
|
(126,686 |
) |
|
|
(7,223 |
) |
Present value of lease liabilities |
|
|
10,301,555 |
|
|
|
176,707 |
|
Less: lease liabilities, current |
|
|
(5,404,269 |
) |
|
|
(99,627 |
) |
Lease liabilities, non-current |
|
$ |
4,897,286 |
|
|
$ |
77,080 |
|
|