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OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2024
OPERATING LEASE RIGHT OF USE ASSET AND LEASE LIABILITIES  
Schedule of operating lease right of use assets

As of December 31, 2024 and 2023 operating lease right-of-use assets as follows:

 

 

 

 

 

 

As of

 

 

 

December 31,

 

 

December 31,

 

 

2024

 

 

2023

 

Balance as of December 31, 2023

 

$141,544

 

 

$55,730

 

Add: Addition of right-of-use assets (1)

 

 

145,736

 

 

 

113,279

 

Less: amortization (2)

 

 

(48,983)

 

 

(25,038)

Less: lease termination (3)

 

 

(25,093)

 

 

-

 

Foreign translation differences

 

 

2,039

 

 

 

(2,427)

Balance as of December 31, 2024

 

$215,243

 

 

$141,544

 

Schedule of the operating lease liability

 

 

As of

 

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Balance as of beginning of the year

 

$133,395

 

 

$56,775

 

Add: addition of lease liabilities (1)

 

 

145,736

 

 

 

113,279

 

Less: gross repayment

 

 

(56,598)

 

 

(39,798)

Add: imputed interest (4)

 

 

11,795

 

 

 

5,613

 

Less: lease termination (3)

 

 

(25,679)

 

 

-

 

Foreign translation differences

 

 

1,908

 

 

 

(2,474)

Balance as of end of the year

 

 

210,557

 

 

 

133,395

 

Less: lease liabilities current portion

 

 

(50,816)

 

 

(34,632)

Lease liabilities non-current portion

 

$159,741

 

 

$98,763

 

Schedule of the maturities of the operating lease liabilities

 

 

As of

 

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Years ending December 31:

 

 

 

 

 

 

2024

 

 

-

 

 

 

43,213

 

2025

 

 

62,939

 

 

 

36,634

 

2026

 

 

62,311

 

 

 

36,634

 

2027

 

 

55,403

 

 

 

24,568

 

2028

 

 

45,166

 

 

 

14,332

 

2029

 

 

12,848

 

 

 

-

 

Total undiscounted cash flows

 

 

238,667

 

 

 

155,381

 

Less: Interest imputed on lease liabilities

 

 

(28,110)

 

 

(21,986)

Present value of lease liabilities

 

$210,557

 

 

$133,395

 

Schedule of amortization of right of use

 

 

As of

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Supplemental Cash Flow Disclosures:

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

Lease payment – operating leases

 

$(56,598)

 

$(39,798)

Operating lease liabilities obtained in exchange for operating lease assets

 

 

145,736

 

 

 

113,279

 

 

 

 

 

 

 

 

 

 

Other information:

 

 

 

 

 

 

 

 

Weighted average remaining lease term for operating lease (years)

 

 

4.42

 

 

 

4.5

 

Weighted average discount rate for operating lease

 

 

6.65%

 

 

6.53%