Operating Lease

9 Months Ended

Jul. 31, 2025

Operating Lease

Operating Lease

Note 9 – Operating Lease

In September 2023, the Company entered into an office lease for an office at 45 Rockefeller Plaza, New York. The lease expired at the end of September 2024. Since the Company intends to maintain the lease for more than twelve months, the Company was required to classify such lease as operating lease in accordance with the provisions of ASC 842 - Leases. Therefore, the Company recognized operating lease liabilities with corresponding Right-Of-Use ("ROU") assets based on the present value of the minimum rental payments of such lease during the fourth quarter of 2024. The Company terminated this lease on July 31, 2025.

In January 2025, the Company entered into an office lease for an office at Room 1534,15/F., Star House, No.3 Salisbury Road, Tsim Sha Tsui, Kowloon, Hong Kong. The lease will expire at the end of December 2026. The Company was required to classify such lease as operating lease in accordance with the provisions of ASC 842 - Leases. Therefore, the Company recognized operating lease liabilities with corresponding ROU assets based on the present value of the minimum rental payments of such lease during the first quarter of 2025.

The Company's lease agreements do not provide an implicit borrowing rate. Therefore, the Company used a benchmark approach to derive an appropriate incremental borrowing rate. The Company benchmarked itself against other companies of similar credit ratings and comparable credit quality and derived an incremental borrowing rate to discount each of its lease liabilities based on the remaining lease terms.

ROU assets non-current at July 31, 2025 and October 31, 2024 were $87,718 and $7,159. ROU assets-current at July 31, 2025 and October 31, 2024 were $0 and $7,159. Short-term and long-term operating lease liabilities were $61,208 and $26,510 at July 31, 2025, respectively. Short-term and long-term operating lease liabilities were $7,159 and $0 at October 31, 2024, respectively.

Quantitative information regarding the Company’s lease is as follows:

	For Three Months Ended July 31, 2025		For Three Months Ended July 31, 2024
Lease expenses
Operating lease expenses	$	16,085	$	–
Short-term lease expenses		–		4,335
Total lease cost	$	16,085	$	4,335
Other information
Cash paid for the amounts included in the measurement of lease liabilities for operating leases:
Operating cash flows		16,085		–
Weighted-average remaining lease term (in years):
Operating lease		1.42		1.17
Weighted-average discount rate:
Operating lease		5.49%		–

	For Nine Months Ended July 31, 2025		For Nine Months Ended July 31, 2024
Lease expenses
Operating lease expenses	$	44,919	$	–
Short-term lease expenses		–		13,005
Total lease cost	$	44,919	$	13,005
Other information
Cash paid for the amounts included in the measurement of lease liabilities for operating leases:
Operating cash flows		44,919		–
Weighted-average remaining lease term (in years):
Operating lease		1.42		1.17
Weighted-average discount rate:
Operating lease		5.49%		–

As of July 31, 2025, future minimum lease payments required under operating lease are as follows:

2025	$	26,808
2026		64,339
Total payments	$	91,147