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LEASE

12 Months Ended

Sep. 30, 2021

NOTE 13 – LEASE

As of September 30, 2021, the VIE and VIE’s subsidiaries have one factory lease with expiration date through December 2025. For the years ended September 30, 2021, 2020 and 2019, the lease expenses were $109,346, $71,826 and $10,470, respectively. Balance sheet information related to the VIE and VIE’s subsidiaries’ operating leases as of September 30, 2021 and 2020 was as follows:


	As of			As of
	September 30,			September 30,
	2021			2020
Operating Lease Assets:
Operating Lease	$	118,154		$	243,874
Total operating lease assets		118,154			243,874
Operating lease obligations:
Current operating lease liabilities		55,847			82,468
Non-current operating lease liabilities		106,180			155,723
Total Lease liabilities	$	162,027		$	238,191

Remaining Lease Term Operating Lease		2.07 years			3.07 years
Discount rate		5.5	%		5.5	%

Lease liability maturities as of September 30, 2021, are as follows:


	Operating,
	lease
2021		61,939
2022		30,969
2023		30,969
2024		30,969
2025		23,229
Total minimum lease payments	$	178,075
Less: Amount representing interest		(16,048)
Total	$	162,027