NOTE 11 —LEASES

The Company has operating leases for its one F&B store in Singapore as of September 30, 2026. The lease for the F&B store in Korea was terminated on September 30, 2026. The related lease agreements do not contain any material residual value guarantees or material restrictive covenants. Since the Company’s leases do not provide an implicit rate that can be readily determined, management uses a discount rate based on the incremental borrowing rate. The Company’s weighted-average remaining lease term relating to its operating leases is 1.67 years, with a weighted-average discount rate of 1.46%.

The Company has also utilized the following practical expedients:

The current portion of operating lease liabilities and the non-current portion of operating lease liabilities are presented in the balance sheets. Total lease expenses amounted to $30,099 and $48,367, which were included in general and administrative expenses in the statements of operations for the three months ended September 30, 2026 and 2025, respectively. Total lease expenses amounted to $90,493 and $223,046, which were included in general and administrative expenses in the statements of operations for the nine months ended September 30, 2026 and 2025, respectively. Total cash paid for operating leases amounted to $35,533 and $51,009 for the three months ended September 30, 2026 and 2025, respectively. Total cash paid for operating leases amounted to $96,089 and $229,188 for the nine months ended September 30, 2026 and 2025, respectively. In addition, the Company leases certain equipment on a short-term (12 months or less) basis. Total short-term lease expense of $1,273 and $1,858 is included in general and administrative expenses for the three months ended September 30, 2026 and 2025, respectively. Total short-term lease expense of $3,657 and $12,237 is included in general and administrative expenses for the nine months ended September 30, 2026 and 2025, respectively. Supplemental balance sheet information related to operating leases is as follows:

 SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO OPERATING LEASES

As of September 30, 2026, the aggregate future minimum rental payments under non-cancelable agreements are as follows:

 SCHEDULE OF AGGREGATE FUTURE MINIMUM RENTAL PAYMENTS