LEASES

3 Months Ended

Mar. 31, 2024

Leases

LEASES

NOTE 4 – LEASES

The Company entered into an operating lease agreement on October 14, 2021 for an automobile, resulting in the recording of an initial liability and corresponding right-of-use asset of $35,906. The weighted-average remaining non-cancelable lease term for the Company’s operating lease was 1.50 years at March 31, 2024. The weighted-average discount rate was 3.96% at March 31, 2024.

The Company’s operating lease expires in 2025. The following shows future lease payments for the remaining periods under operating lease at March 31, 2024:

Periods ending December 31,	Operating Lease Commitments
2024	$	10,234
2025		7,676
Total operating lease commitments		17,910
Less: imputed interest		(4,782	)
Total right-of-use liability	$	13,128

The Company’s discounted current right-of-use lease liability and discounted non-current right-of-use lease liability on March 31, 2024 is $8,665 and $4,463, respectively.

Operating leases expense for the three months ended March 31, 2024 is $2,559.