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LEASE

12 Months Ended

Sep. 30, 2022

NOTE 13 – LEASE

As of September 30, 2022, the VIE and VIE’s subsidiaries have one factory lease with expiration date through December 2025. For the years ended September 30, 2022, 2021 and 2020, the lease expenses were $63,480, $109,346 and $71,826, respectively. Balance sheet information related to the VIE and VIE’s subsidiaries’ operating leases as of September 30, 2022 and 2021 was as follows:


	As of			As of
	September 30,			September 30,
	2022			2021
Operating Lease Assets:
Operating Lease right of use asset	$	86,584		$	118,154
Total operating lease assets		86,584			118,154
Operating lease obligations:
Current operating lease liabilities		23,859			55,847
Non-current operating lease liabilities		72,537			106,180
Total Lease liabilities	$	96,396		$	162,027

Remaining Lease Term Operating Lease		3.25 years			2.07 years
Discount rate		5.5	%		5.5	%

Lease liability maturities as of September 30, 2022, are as follows:


	Operating,
	lease
2022		28,116
2023		28,116
2024		28,116
2025		21,087
Total minimum lease payments	$	105,435
Less: Imputed interest		(9,039)
Total	$	96,396