Leases |
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| LEASES | NOTE 7 - LEASES
On March 31, 2022, the Company adopted ASU 2016-02, Leases (ASC Topic 842). For all leases that were entered into prior to the effective date of Topic 842, the Company elected to apply the package of practical expedients. The Company leases office space under non-cancelable operating leases, with terms typically ranging from to years. The Company determines whether an arrangement is or includes an embedded lease at contract inception.
Operating lease assets and lease liabilities are recognized at commencement date and initially measured based on the present value of lease payments over the defined lease term. Lease expense is recognized on a straight-line basis over the lease term.
On July 1, 2025, Pony HK entered into a Lease Agreement, the Company rented a portion at Room 17, Flat B, 17/F, Tsipeng Industrial Building, San Po Kong, Kowloon, Hong Kong, China, for a monthly rent of HKD 3,700 (approximately $472). The lease term is from July 1, 2025 to June 30, 2027.
The following tables represent the Company’s lease assets and liabilities as of September 30, 2026 and December 31, 2025:
The following tables summarize quantitative information about the Company’s operating lease, under the adoption of ASC 842:
The maturities of operating lease liabilities for subsequent years are as follows:
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