LEASE LIABILITIES-FINANCE AND OPERATING LEASE (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| 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, 2025
(Restated) | | |
December
31, 2024
(Restated) | |
| Total
finance lease liabilities | |
$ | 5,189,942 | | |
$ | 8,432,177 | |
| Less:
Current portion | |
| (188,550 | ) | |
| (3,342,293 | ) |
| Finance
lease liabilities, net of current portion | |
$ | 5,001,392 | | |
$ | 5,089,884 | |
|
| SCHEDULE OF OPERATING LEASE LIABILITIES |
The
components of operating lease liabilities as follows:
SCHEDULE OF OPERATING LEASE LIABILITIES
| | |
June
30, 2025 | | |
December
31, 2024 | |
| Total
operating lease liabilities | |
$ | 6,896,993 | | |
$ | 7,433,452 | |
| Less:
Current portion | |
| (162,134 | ) | |
| (491,850 | ) |
| Operating
lease liabilities, net of current portion | |
$ | 6,734,859 | | |
$ | 6,941,602 | |
|
| SCHEDULE OF LEASE COST |
The
components of lease cost were as follows:
SCHEDULE OF LEASE COST
| | |
| 2025
(Restated) | | |
| 2024(Restated) | |
| | |
Six-Month
Period Ended June 30, | |
| | |
| 2025
(Restated) | | |
| 2024
(Restated) | |
| Finance
lease cost: | |
| | | |
| | |
| -
Amortization of right-of-use assets | |
$ | 1,549,239 | | |
| 627,482 | |
| -
Interest on lease liabilities | |
| 121,954 | | |
| 49,644 | |
| Operating
lease cost | |
| 435,102 | | |
| 440,030 | |
| Total
lease cost | |
$ | 2,106,295 | | |
| 1,117,156 | |
|
| 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 | |
$ | 262,198 | | |
$ | 353,467 | |
| the
next 13 to 24 months | |
| 262,198 | | |
| 830,814 | |
| the
next 25 to 36 months | |
| 262,198 | | |
| 838,631 | |
| the
next 37 to 48 months | |
| 4,968,551 | | |
| 843,027 | |
| the
next 49 to 60 months | |
| 262,198 | | |
| 851,366 | |
| thereafter | |
| — | | |
| 8,032,978 | |
| Total | |
| 6,017,343 | | |
$ | 11,750,283 | |
| Less:
Amount representing interest | |
| (827,401 | ) | |
| (4,852,290 | ) |
| Present
value of net minimum lease payments | |
$ | 5,189,942 | | |
$ | 6,896,993 | |
|
| 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, 2025 | | |
December
31, 2024 | |
| Weighted average
remaining lease term: | |
| | | |
| | |
| Finance
leases | |
| 16.2
years | | |
| 16.2
years | |
| Operating
leases | |
| 20.2
years | | |
| 19.6
years | |
| Weighted average
discount rate: | |
| | | |
| | |
| Finance
leases | |
| 4.52 | % | |
| 4.62 | % |
| Operating
leases | |
| 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
| | |
2025 | | |
2024 | |
| | |
Six-Month
Period Ended June 30, | |
| | |
2025 | | |
2024 | |
| Cash
paid for amounts included in measurement of lease liabilities: | |
| | | |
| | |
| -Operating
cash flows from operating leases | |
$ | 743,404 | | |
$ | 753,231 | |
| -Financing
cash flows from finance leases | |
| 260,997 | | |
| 31,866,665 | |
| | |
| | | |
| | |
| Non-cash
information on lease liabilities arising from obtaining ROU assets: | |
| | | |
| | |
| -Finance
leases | |
| — | | |
| 38,726,543 | |
| -Operating
leases | |
| — | | |
| — | |
|