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RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of right-of- use assets

Right-of-use assets at June 30, 2025 and December 31, 2024 are summarized below:

 

 

   June 30, 2025   December 31, 2024 
Office lease  $37,502   $37,502 
Less accumulated amortization   (35,783)   (25,762)
Right of use assets, net  $1,719   $11,740 
Schedule of Maturity of lease liabilities

Operating Lease liabilities are summarized below:

 

 

   June 30, 2025   December 31, 2024 
Office lease  $1,753   $11,976 
Less: current portion   (1,753)   (11,976)
Long term portion  $-   $- 
Schedule of Maturity of lease liabilities

Maturity of lease liabilities are as follows:

 

 

Year ended December 31, 2025  $1,753 
Total future minimum lease payments   1,753 
Less: Present value discount   - 
Lease liability  $1,753 
Schedule of Finance Right-Of-Use Assets

Finance right of use assets are summarized below:

 

 

   June 30, 2025   December 31, 2024 
Vehicle lease  $53,100   $53,100 
Vessel lease   70,849    70,849 
Sonar lease   18,987    18,987 
Finance right of use asset before Accumulated Amortization   142,936    142,936 
Less accumulated amortization   (69,186)   (55,096)
Finance right of use asset  $73,750   $87,840 
Schedule of Finance Lease Liabilities

Finance lease liabilities are summarized below:

 

 

   June 30, 2025   December 31, 2024 
Vehicle lease  $30,976   $35,944 
Vessel lease   41,328    47,957 
Sonar lease   12,122    13,868 
Total Lease Liabilities   84,426    97,769 
Less: current portion   (27,921)   (26,304)
Long term portion  $56,505   $71,465 
Schedule of Future minimum lease payments

Maturity of lease liabilities are as follows:

 

 

Year Ended December 31, 2025  $18,879 
Year Ended December 31, 2026   37,758 
Year Ended December 31, 2027   37,758 
Thereafter   4,414 
Total future minimum lease payments   98,809 
Less imputed interest   (14,383)
PV of payments  $84,426 
Schedule of Expenses with respect to Finance Leases

Expenses incurred with respect to the Company’s finance leases during the six months ended June 30, 2025 and 2024 which are included in general and administrative expenses on the unaudited condensed consolidated statements of operations are set forth below.

 

 

   June 30, 2025   June 30, 2024 
Finance lease amortization  $14,090   $14,091 
Finance lease interest   5,537    7,038 
Total finance lease expense  $19,627   $21,129 
Schedule of Weighted Average Remaining Lease Team and Average Discount on Finance Leases

The weighted average remaining lease term and the weighted average discount rate on the finance leases at June 30, 2025 and December 31, 2024 are set forth below.

 

 

   June 30,  December 31,
   2025  2024
Weighted average remaining lease term  2.62 years  3.11 years
Weighted average discount rate  12%  12%