Lease

3 Months Ended

Mar. 31, 2024

Lease

Lease

Note 5 – Lease

In March 2022, the Company has entered into an operating lease for the office, with the term of 18 months. In July 2023, the Company amended the contract and extended the lease term to July 2025.

The following summarizes right-of-use asset and lease information about the Company’s operating lease for the three months ended March 31, 2024 and 2023:

	Three months ended
	March 31,
	2024			2023
The components of lease expense were as follows:
Operating lease expense	$	21,498		$	15,000
Short-term lease expense		2,393			6,651
Total lease expense	$	23,891		$	21,651
Supplemental cash flow information related to leases was as follows:
Cash paid for operating cash flows from operating leases	$	21,198		$	15,000
Weighted-average remaining lease term - operating leases (year)		1.33			0.42
Weighted-average discount rate — operating leases		6.50	%		5.50	%

Supplemental balance sheet information related to leases was as follows:

	March 31,		December 31,
	2024		2023
Operating lease right-of-use asset	$	110,081	$	129,683

	March 31,		December 31,
	2024		2023
Operating lease liabilities:
Current portion	$	82,051	$	80,136
Non-current portion		28,830		50,047
	$	110,881	$	130,183

The following table outlines maturities of our lease liabilities as of March 31, 2024:

Year ending December 31,
2024 (excluding the three months ended March 31, 2024)	$	64,594
2025		50,862
Thereafter		-
		115,456
Less: Imputed interest		(4,575	)
Operating lease liabilities	$	110,881