LEASES

9 Months Ended

Sep. 30, 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 September 30, 2024. The weighted-average discount rate was 3.96% at September 30, 2024.

The Company’s operating lease expires in 2025. The following shows future lease payments for the remaining periods under operating lease at September 30, 2024:

Periods ending December 31,	Operating Lease Commitments
2024	$	2,546
2025		7,639
Total operating lease commitments		10,185
Less: imputed interest		(1,328	)
Total right-of-use liability	$	8,857

The Company’s discounted current right-of-use lease liability and discounted non-current right-of-use lease liability on September 30, 2024 is $8,857 and $0, respectively.

Operating leases expense for the nine months ended September 30, 2024 is $7,639.