COMMITMENT AND CONTINGENCIES

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENT AND CONTINGENCIES

NOTE 7 – COMMITMENT AND CONTINGENCIES

Leases

The Company has elected not to recognize right-of-use (ROU) assets and lease liabilities that arise from short-term (12 months or less) leases for any class of underlying asset.

For leases with more than 12 months, the Company recognize operating lease right-of-use assets and liabilities are at commencement date based on the present value of lease payments over the lease term. The discount rate used to calculate present value is incremental borrowing rate or, if available, the rate implicit in the lease.

On May 1, 2023, the Company entered into a commercial lease agreement for office space to be used as the Company’s headquarter office for private education. The base rent is CA$4,109.16 (US$3,109.35) per month. This lease was terminated as of December 31, 2023.

On January 1, 2024, the Company entered into a new commercial lease agreement for office space to be used as the Company’s headquarter office for private education. The base rent is CA$4,366.86 (US$3,295.76) per month for year 2024 and the base rent will increase subsequently each year.

Operating lease expenses were $20,560 and $15,306 for the nine months ended September 30, 2024 and 2023, respectively.

The components of lease expense and supplemental cash flow information related to leases for the period are as follows:

	Nine months ended September 30,
	2024			2023
Lease cost
Operating lease cost	$	20,560		$	–
Other Information
Cash paid for amounts included in the measurement of lease liabilities	$	16,744		$	–
Weighted average remaining lease term – operating leases (in years)		4.50			–
Average discount rate – operating lease		7.04	%		–	%

The supplemental balance sheet information related to leases is as follows:

	September 30, 2024		December 31, 2023
Operating leases
Right-of-use assets	$	118,338	$	–
Operating lease liabilities	$	117,943	$	–

The undiscounted future minimum lease payment schedule as follows:

For the year ending December 31,
2024 (three months remaining)	7,031
2025	29,519
2026	31,007
2027	32,549
2028	34,182
Thereafter	–
Total undiscounted lease payments	132,288
Less: interest	(18,424	)
Total lease liabilities	115,864