Operating leases

The Company leases office space in Taren Point, NSW, Australia. The lease commenced July 15, 2018 and ended on July 14, 2023, at which time the Company extended the lease, which commenced on July 15, 2023 and ends on July 14, 2026. The initial monthly lease payments were AUD 25,000 and the monthly payments of the lease extension are 36,667 AUD and are subject to annual escalation rate of 3%. The Company also leased a new office space in Bankstown Aerodrome, NSW 2198, Australia, the lease commenced on May 19, 2026 with a 5 years lease term, and the Company has the option to renew it for one more term of 5 years subjected to certain conditions. The monthly payment is AUD 62,831   with goods and services tax, and is subject to an annual escalation of 3.5%. As of June 30, 2026, the remaining lease term is 59 months and the discount rate is 5% for computation purposes.

Operating lease right-of-use assets and liabilities 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 5.0%, as the interest rate implicit in most of the Company leases is not readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term. During the years ended June 30, 2026 and 2025, the Company recorded $434,880 and $303,869, respectively, as operating lease expense on the consolidated statements of operations and comprehensive loss.

Operating right-of- use assets are summarized below:

 Schedule of operating right of use assets and operating lease liabilities

Operating lease liabilities are summarized below:

 Schedule of maturity of operating lease liabilities

GMEX ROBOTICS CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS