LEASES |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES | NOTE 5 – LEASES
Effective in May 1, 2025, the Company entered into a lease agreement for its Vayu office and warehouse space expiring in April 2026. In connection with the lease extension, the Company recognized an ROU lease asset and lease liability each in the amount of $96,347. The discount rate used to estimate the fair value of the ROU lease asset and lease liability was 44.24%. As of September 30, 2025, the remaining lease term was 0.6 years
The table below summarizes the Company’s lease-related assets and liabilities as of September 30, 2025, and December 31, 2024:
Lease expense was $30,240 and $-0-, during the three months ended September 30, 2025 and 2024, respectively, and $50,400 and $-0- during the nine months ended September 30, 2025 and 2024, respectively.
Maturities of operating lease liabilities were as follows as of September 30, 2025:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||