Leases

3 Months Ended

Mar. 31, 2025

Leases

Leases

NOTE 9 - Leases

The Company had three operating leases (Flywheel’s office leases in Taiwan) as of March 31, 2025. The leased assets in Flywheel are presented as operating lease right-of-use assets.

The table below reconciles the fixed component of the undiscounted cash flows for each of the first five years and the total remaining years to the operating lease liabilities recorded in the statements of financial position as of March 31, 2025:

	Flywheel			Flywheel			Flywheel
	March 2024			June 2024			August 2024
Initial lease term	to June 2025			to May 2025			to July 2025
Initial recognition of operating lease right-of-use assets	$	123,107		$	52,434		$	73,175
Weighted-average remaining lease term at March 31, 2025		0.25			0.17			0.33
Weighted-average discount rate at March 31, 2025		3.20	%		3.33	%		3.33	%

Operating lease liabilities-current as of March 31, 2025 and December 31, 2024 were $56,478 and $114,540, respectively. The operating lease right-of-use assets balance as of March 31, 2025 and December 31, 2024, were $54,978 and $111,409, respectively.

For the three months ended March 31, 2025 and 2024, the amortization of the operating lease right-of-use asset was $55,383 and $42,892, respectively. These amounts were recorded in general and administrative expenses. Additionally, for the three months ended March 31, 2025 and 2024, the Company made lease payments of $56,984 and $35,175, respectively, which were included in the operating cash flows statements.

The future minimum lease payment schedule for all operating leases as of March 31, 2025, is as disclosed below.

For the Year Ending March 31,	Amount
2025	$	56,807
2026		-
2027		-
2028 and thereafter		-
Total minimum lease payments		56,807
Less: effect of discounting		(329	)
Present value of the future minimum lease payment		56,478
Less: operating lease liabilities-current		(56,478	)
Total operating lease liabilities-non-current	$	-