LEASE LIABILITIES - FINANCE AND OPERATING LEASE (Tables)
|
3 Months Ended |
Mar. 31, 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
| | |
March
31,
2026 | | |
December
31,
2025 | |
| Total
finance lease liabilities | |
$ | 5,551,535 | | |
$ | 5,404,546 | |
| Less:
Current portion | |
| (251,900 | ) | |
| (228,918 | ) |
| Finance
lease liabilities, net of current portion | |
$ | 5,299,635 | | |
$ | 5,175,628 | |
|
| SCHEDULE OF OPERATING LEASE LIABILITIES |
The
components of operating lease liabilities are as follows:
SCHEDULE
OF OPERATING LEASE LIABILITIES
| | |
March
31,
2026 | | |
December
31,
2025 | |
| Total
Operating lease liabilities | |
$ | 6,977,775 | | |
$ | 7,014,947 | |
| Less:
Current portion | |
| (382,599 | ) | |
| (523,847 | ) |
| Operating
lease liabilities, net of current portion | |
$ | 6,595,176 | | |
$ | 6,491,100 | |
|
| SCHEDULE OF LEASE COST |
The
components of lease cost were as follows:
SCHEDULE
OF LEASE COST
| | |
2026 | | |
2025 | |
| | |
Three-Month
Period Ended March 31, | |
| | |
2026 | | |
2025 (Restated) | |
| Finance
lease cost: | |
| | | |
| | |
| -
Amortization of right-of-use assets | |
$ | 733,298 | | |
$ | 775,702 | |
| -
Interest on lease liabilities | |
| 61,290 | | |
| 60,857 | |
| Operating
lease cost | |
| 222,161 | | |
| 217,801 | |
| Total
lease cost | |
$ | 1,016,749 | | |
$ | 1,054,360 | |
|
| 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 | |
$ | 271,262 | | |
$ | 649,624 | |
| the
next 13 to 24 months | |
| 271,262 | | |
| 854,603 | |
| the
next 25 to 36 months | |
| 5,140,316 | | |
| 861,118 | |
| the
next 37 to 48 months | |
| 271,262 | | |
| 867,681 | |
| the
next 49 to 60 months | |
| 271,262 | | |
| 874,664 | |
| thereafter | |
| — | | |
| 7,600,870 | |
| Total | |
| 6,225,364 | | |
| 11,708,560 | |
| Less:
Amount representing interest | |
| (673,829 | ) | |
| (4,730,785 | ) |
| Present
value of net minimum lease payments | |
$ | 5,551,535 | | |
$ | 6,977,775 | |
|
| 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
| | |
March 31,
2026 | | |
December 31,
2025 | |
| Weighted
average remaining lease term: | |
| | | |
| | |
| Finance
leases | |
| 15.4
years | | |
| 15.7
years | |
| Operating
leases | |
| 19.7
years | | |
| 19.6
years | |
| Weighted
average discount rate: | |
| | | |
| | |
| Finance
leases | |
| 4.53 | % | |
| 4.53 | % |
| Operating
lease | |
| 4.90 | % | |
| 4.90 | % |
|
| SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION |
Supplemental
cash flow information related to leases was as follows:
SCHEDULE
OF SUPPLEMENTAL CASH FLOW INFORMATION
| | |
2026 | | |
2025 | |
| | |
Three-Month
Period Ended March 31, | |
| | |
2026 | | |
2025 | |
| Cash
paid for amounts included in measurement of lease liabilities : | |
| | | |
| | |
| -Operating
cash flows from operating leases | |
$ | 232,677 | | |
$ | 225,321 | |
| -Financing
cash flows from finance leases | |
$ | — | | |
$ | — | |
| | |
| | | |
| | |
| Non-cash
information on lease liabilities arising from obtaining right-of-use assets: | |
| | | |
| | |
| -Finance
leases | |
$ | — | | |
$ | — | |
| -Operating
leases | |
$ | — | | |
$ | — | |
|