Note
5 – Leases
On
April 10, 2024, Fengcuiyuan entered into an operating lease agreement to rent an office. The lease has an original term of 2 years expiring
April 24, 2026.
Balance
sheet information related to the Company’s leases is presented below:
Schedule
of Balance Sheet Information Related to Company’s Leases
| | |
December 31 2024 | |
| Operating Leases | |
| | |
| Operating lease right-of-use assets | |
$ | 93,091 | |
| | |
| | |
| Operating lease liabilities - current | |
| 73,967 | |
| Operating lease liability – non-current | |
| 19,124 | |
| Total operating lease liabilities | |
$ | 93,091 | |
The
following provides details of the Company’s lease expenses:
Schedule
of Company’s Lease Expenses
| | |
2024 | | |
2023 | |
| | |
Year Ended December 31, | |
| | |
2024 | | |
2023 | |
| Operating lease expense | |
$ | 58,535 | | |
$ | - | |
Other
information related to leases is presented below:
Schedule
of Other Information Related to Leases
| | |
Year Ended | |
| | |
December 31, 2024 | |
| Cash Paid For Amounts Included In Measurement of Liabilities: | |
| | |
| Operating cash flows from operating leases | |
$ | 58,535 | |
| | |
| | |
| Weighted Average Remaining Lease Term: | |
| | |
| Operating leases | |
| 1.32 years | |
| | |
| | |
| Weighted Average Discount Rate: | |
| | |
| Operating leases | |
| 5.6 | % |
Maturities
of lease liabilities were as follows:
Schedule
of Maturities of Lease Liabilities
| For the 12 months ending December 31: | |
| |
| 2025 | |
$ | 76,939 | |
| 2026 | |
| 19,235 | |
| Total lease payments | |
| 96,174 | |
| Less: imputed interest | |
| (3,083 | ) |
| Total lease liabilities | |
| 93,091 | |
| Less: current portion | |
| (73,967 | ) |
| Lease liabilities – non-current portion | |
$ | 19,124 | |
|