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

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

 

   September 30, 2025   December 31, 2024 
Office lease  $53,382   $37,502 
Less accumulated amortization   (2,573)   (25,762)
Right of use assets, net  $50,809   $11,740 
Schedule of Maturity of lease liabilities

Operating Lease liabilities are summarized below:

 

   September 30, 2025   December 31, 2024 
Office lease  $50,943   $11,976 
Less: current portion   (15,643)   (11,976)
Long term portion  $35,300   $- 
Schedule of Maturity of lease liabilities

Maturity of lease liabilities are as follows:

      
Year ended December 31, 2025  $4,938 
Year ended December 31, 2026   20,083 
Year ended December 31, 2027   20,884 
Year ended December 31, 2028   12,462 
Total future minimum lease payments   58,367 
Less: Present value discount   (7,424)
Lease liability  $50,943 
Schedule of Finance Right-Of-Use Assets

Finance right of use assets are summarized below:

 

 

   September 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   (76,231)   (55,096)
Finance right of use asset  $66,705   $87,840 
Schedule of Finance Lease Liabilities

Finance lease liabilities are summarized below:

 

 

   September 30, 2025   December 31, 2024 
Vehicle lease  $28,378   $35,944 
Vessel lease   37,863    47,957 
Sonar lease   11,210    13,868 
Total Lease Liabilities   77,451    97,769 
Less: current portion   (28,537)   (26,304)
Long term portion  $48,914   $71,465 
Schedule of Weighted Average Remaining Lease Team and Average Discount on Finance Leases

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

 

   September 30, 2025   September 30, 2024 
Finance lease amortization  $21,136   $21,136 
Finance lease interest   8,001    10,287 
Total finance lease expense  $29,137   $31,423 

 

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

 

   September 30, 2025   September 30, 2024 
Finance lease amortization  $7,045   $7,045 
Finance lease interest   2,464    3,431 
Total finance lease expense  $9,509   $10,476 

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

 

   September 30,  December 31,
   2025  2024
Weighted average remaining lease term  2.36 years  3.11 years
Weighted average discount rate  12%  12%
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 September 30, 2025 and December 31, 2024 are set forth below:

 

   September 30,  December 31,
   2025  2024
Weighted average remaining lease term  2.36 years  3.11 years
Weighted average discount rate  12%  12%