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Lease
3 Months Ended
Mar. 31, 2025
Lease  
Lease

Note 6 – Lease

 

In March 2022, the Company entered into an operating lease for a warehouse, with a term of eighteen (18) months. In July 2023, the Company amended the contract and extended the lease term to July 2025.

 

In January 2025, the Company entered into an operating lease for our office and warehouse. The commencement date is April 1, 2025, and the termination date is March 31, 2030. The Company records a security deposit of $36,991. As of March 31,2024, no right-of-use asset and liabilities have been recognized for this lease.

Short-term lease

 

The Company has some rental equipment with a month-to-month contract and leases commercial space for office, retail and warehousing, which is under one year lease agreement and expires March 31, 2025.

 

For the three months ended March 31, 2025 and 2024, right-of-use asset and lease information about the Company’s operating lease consist of:

 

 

 

March 31,

 

 

 

2025

 

 

2024

 

The components of lease expense were as follows:

 

 

 

 

 

 

Operating lease cost

 

$21,498

 

 

$21,498

 

Short-term lease cost

 

 

29,593

 

 

 

6,651

 

Variable lease cost

 

 

2,732

 

 

 

-

 

Total lease cost

 

$53,823

 

 

$28,149

 

 

Supplemental cash flow information related to leases was as follows:

 

 

 

 Three months ended

 

 

 

 March 31,

 

 

 

2025

 

 

2024

 

Cash paid for operating cash flows from operating leases

 

$33,530

 

 

$21,198

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases (year)

 

 

0.33

 

 

 

1.33

 

Weighted-average discount rate — operating leases

 

 

6.50%

 

 

6.50%

 

The following table outlines maturities of our lease liabilities as of March 31, 2025:

 

Year ending December 31,

 

 

 

2025 (remaining four months)

 

$29,064

 

Thereafter

 

 

-

 

 

 

 

29,064

 

Less: Imputed interest

 

 

(234)

Operating lease liabilities

 

$28,830