| PROPERTY AND EQUIPMENT, NET |
Note
4. PROPERTY AND EQUIPMENT, NET
Property
and Equipment, net consisted of the following:
SCHEDULE OF PROPERTY AND EQUIPMENT
| | |
September 30,
2026 | | |
December 31,
2025 | |
| Cost | |
| | | |
| | |
| Leasehold improvement | |
$ | 119,714 | | |
$ | 119,914 | |
| Computer equipment | |
| 83,360 | | |
| 77,582 | |
| Furniture & Fittings | |
| 3,270 | | |
| 3,133 | |
| Motor Vehicle | |
| 31,985 | | |
| 32,255 | |
| Total cost | |
$ | 238,329 | | |
$ | 232,884 | |
| | |
| | | |
| | |
| Less: accumulated depreciation # | |
| | | |
| | |
| Leasehold improvement# | |
$ | 33,464 | | |
$ | 33,603 | |
| Computer equipment# | |
| 31,768 | | |
| 29,861 | |
| Furniture & Fittings# | |
| 919 | | |
| 880 | |
| Motor Vehicle# | |
| 4,265 | | |
| 1,882 | |
| Total accumulated depreciation# | |
$ | 70,416 | | |
$ | 66,226 | |
| | |
| | | |
| | |
| Less: impairment ## | |
| | | |
| | |
| Leasehold improvement## | |
$ | 86,033 | | |
$ | 86,033 | |
| Computer equipment## | |
| 46,510 | | |
| 46,510 | |
| Furniture & Fittings## | |
| 2,199 | | |
| 2,199 | |
| Total impairment## | |
$ | 134,742 | | |
$ | 134,742 | |
| Less: Foreign currency translation adjustment | |
$ | 1,252 | | |
$ | 724 | |
| | |
| | | |
| | |
| Net value at the end of period | |
| | | |
| | |
| Leasehold improvement | |
$ | - | | |
$ | - | |
| Computer equipment | |
| 4,199 | | |
| 819 | |
| Furniture & Fittings | |
| - | | |
| - | |
| Motor Vehicle | |
| 27,720 | | |
| 30,373 | |
| Total Net | |
$ | 31,919 | | |
$ | 31,192 | |
| # |
–Total
of depreciation expenses charged for the three months ended September 30, 2026 and 2025 were
$1,366 and $14,368, respectively, of which $0 and $9,056 were booked under cost of revenue
for the three months ended September 30, 2026 and 2025, respectively, and $1,366 and $5,312
were booked under general and administrative expenses for the three months ended September
30, 2026 and 2025, respectively.
–Total
of depreciation expenses charged for the nine months ended September 30, 2026 and 2025 were $4,086 and $36,476, respectively, of
which $0 and $21,772 were booked under cost of revenue for the nine months ended September 30, 2026 and 2025, respectively, and $4,086
and $14,703 were booked under general and administrative expenses for the nine months ended September 30, 2026 and 2025, respectively. |
| ## |
As
of December 31, 2025, the Company recorded impairment on property and equipment of $134,742 under operating expenses. Management
evaluated the operational results and identified that the Company’s F&B business has continued to incur losses and is not
expected to generate profits in the foreseeable future. As significant portion of those assets are associated with Dongguan Leyouyou
Catering Management Co., Ltd. (“HCDG”) in the PRC and Hapi Café Co., Ltd. (“HCTW”) in Taiwan, management
has fully impaired the property and equipment of $134,742 for those locations during the year ended December 31, 2025. For the remaining
immaterial property and equipment of other locations, management evaluated them to make profits in the future, and would continue
to assess potential impairment to them. |
|