LEASE LIABILITIES - FINANCE AND OPERATING LEASE (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Lease Liabilities - Finance And Operating Lease |
|
| SCHEDULE OF FINANCE LEASE LIABILITIES |
The
components of finance lease liabilities were as follows:
SCHEDULE
OF FINANCE LEASE LIABILITIES
| | |
June
30,
2026 | |
December
31,
2025 |
| Total
finance lease liabilities | |
$ | 5,427,254 | | |
$ | 5,404,546 | |
| Less:
Current portion | |
| (211,682 | ) | |
| (228,918 | ) |
| Finance
lease liabilities, net of current portion | |
$ | 5,215,572 | | |
$ | 5,175,628 | |
|
| SCHEDULE OF OPERATING LEASE LIABILITIES |
The
components of operating lease liabilities are as follows:
SCHEDULE
OF OPERATING LEASE LIABILITIES
| | |
June
30,
2026 | |
December
31,
2025 |
| Total
Operating lease liabilities | |
$ | 6,625,707 | | |
$ | 7,014,947 | |
| Less:
Current portion | |
| (162,222 | ) | |
| (523,847 | ) |
| Operating
lease liabilities, net of current portion | |
$ | 6,463,485 | | |
$ | 6,491,100 | |
|
| SCHEDULE OF LEASE COST |
The
components of lease cost were as follows:
SCHEDULE
OF LEASE COST
| | |
2026 | |
2025
(Restated) |
| | |
Six-Month
Period Ended
June 30, |
| | |
2026 | |
2025
(Restated) |
| Finance
lease cost: | |
| | | |
| | |
| -
Amortization of right-of-use assets | |
$ | 1,478,008 | | |
$ | 1,549,239 | |
| -
Interest on lease liabilities | |
| 123,980 | | |
| 121,954 | |
| Operating
lease cost | |
| 447,905 | | |
| 435,102 | |
| Total
lease cost | |
$ | 2,049,893 | | |
$ | 2,106,295 | |
|
| SCHEDULE OF MATURITIES OF FINANCE AND OPERATING LEASE LIABILITIES |
Maturities
of lease liabilities were as follows:
SCHEDULE
OF MATURITIES OF FINANCE AND OPERATING LEASE LIABILITIES
| | |
Finance
Lease | |
Operating
Lease |
| the
next 12 months | |
$ | 275,580 | | |
$ | 352,721 | |
| the
next 13 to 24 months | |
| 275,580 | | |
| 870,202 | |
| the
next 25 to 36 months | |
| 5,222,122 | | |
| 874,823 | |
| the
next 37 to 48 months | |
| 275,580 | | |
| 883,588 | |
| the
next 49 to 60 months | |
| — | | |
| 888,585 | |
| thereafter | |
| — | | |
| 7,475,764 | |
| Total | |
| 6,048,862 | | |
| 11,345,683 | |
| Less:
Amount representing interest | |
| (621,608 | ) | |
| (4,719,976 | ) |
| Present
value of net minimum lease payments | |
$ | 5,427,254 | | |
$ | 6,625,707 | |
|
| SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES |
A
summary of supplemental information related to leases is listed as follows:
SCHEDULE
OF SUPPLEMENTAL INFORMATION RELATED TO LEASES
| | |
June 30, 2026 | |
December 31,
2025 |
| Weighted
average remaining lease term: | |
| | | |
| | |
| Finance
leases | |
| 15.7
years | | |
| 15.7
years | |
| Operating
leases | |
| 20.4
years | | |
| 19.6
years | |
| Weighted
average discount rate: | |
| | | |
| | |
| Finance
leases | |
| 4.43 | % | |
| 4.53 | % |
| Operating
lease | |
| 4.90 | % | |
| 4.90 | % |
|
| SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION |
Supplemental
cash flow information related to leases were as follows:
SCHEDULE
OF SUPPLEMENTAL CASH FLOW INFORMATION
| | |
2026 | |
2025 |
| | |
Six-Month
Period Ended
June 30, |
| | |
2026 | |
2025 |
| Cash
paid for amounts included in measurement of lease liabilities: | |
| | | |
| | |
| -Operating
cash flows from operating leases | |
$ | 777,234 | | |
$ | 743,404 | |
| -Financing
cash flows from finance leases | |
$ | 272,297 | | |
$ | 260,997 | |
| | |
| | | |
| | |
| Non-cash
information on lease liabilities arising from obtaining right-of-use assets: | |
| | | |
| | |
| -Finance
leases | |
$ | — | | |
$ | — | |
| -Operating
leases | |
$ | — | | |
$ | — | |
|