LEASES

12 Months Ended

Dec. 31, 2024

Leases

LEASES

21. LEASES

On November 1, 2023, the Company terminated its operating lease for office space. This resulted in a loss of $30,322 which is included in other loss. On the same date, the Company entered into a new short-term lease and has elected not to apply the recognition requirements under ASC 842 “Leases”. The Company has no finance leases.

The components of lease expenses were as follows:

	December 31, 2024		December 31, 2023
Operating lease cost	$	-	$	242,632
Short-term lease cost		60,224		47,385
Total lease expenses	$	60,224	$	290,017