NOTE 5 – OPERATING LEASE RIGHT-OF-USE ASSET AND OPERATING LEASE LIABILITY

On February 13, 2025, the Company executed an agreement to lease office space at 3651 FAU Boulevard, Suite 400, Boca Raton, FL 33431. The lease commencement date was March 1, 2025, and is a month-to-month term not to exceed twenty-four months. The rent is $399 per month. The Company is electing to record as ROU since the Company intends to renew the month-to-month lease for the foreseeable future.

Operating lease right-of-use asset and liability are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value is the Company’s incremental borrowing rate, estimated to be 10%, as the interest rate implicit in most of the Company’s leases is not readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term. Since the common area maintenance expenses are expenses that do not depend on an index or rate, they are excluded from the measurement of the lease liability and recognized in general and administrative expenses on the consolidated statements of operations. During the years ended June 30, 2026 and 2025, the Company recorded $4,788 and $47,800 in rent expense, respectively, in general and administrative expenses on the consolidated statements of operations.

Right-of-use asset is summarized below:

Operating lease liability is summarized below:

Maturity of lease liabilities are as follows:

The weighted average remaining lease term is 0.59 years. The weighted average remaining discount rate is 10%