| COST OF REVENUES |
Cost of revenues consists
of cost directly related to revenue generating activities. The following table shows disaggregated cost of revenues by major categories
for the years ended December 31, 2023, 2024 and 2025:
| | |
For the years ended December 31, | |
| | |
2023 | | |
2024 | | |
2025 | |
| Food and beverages | |
$ | 3,197,559 | | |
$ | 2,905,793 | | |
$ | 3,604,260 | |
| Payroll and employee benefits expenses | |
| 2,410,704 | | |
| 1,979,175 | | |
| 2,342,591 | |
| Lease expenses | |
| 988,395 | | |
| 924,000 | | |
| 987,799 | |
| Utilities expenses | |
| 354,023 | | |
| 349,228 | | |
| 343,203 | |
| Depreciation of property and equipment | |
| 290,492 | | |
| 227,412 | | |
| 184,837 | |
| Repairs and maintenance expenses | |
| 306,416 | | |
| 104,198 | | |
| 244,267 | |
| Others | |
| 17,970 | | |
| 19,277 | | |
| 32,745 | |
| Total | |
$ | 7,565,559 | | |
$ | 6,509,083 | | |
$ | 7,739,702 | |
|