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LEASES

6 Months Ended

Jun. 30, 2025

13. LEASES

As of June 30, 2025, the Company had operating leases for its New York office. The remaining lease terms was 0.25 years. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of June 30, 2025, the weighted average remaining lease term was 0.25 years and the weighted average discount rate was 5%.

The following table presents the operating lease related assets and liabilities recorded on The Company’s consolidated balance sheet.

	June 30, 2025		December 31, 2024
		US$		US$
Right-of-use assets		79,443		238,330
Impairment of right-of-use assets		—		—
Right-of-use assets, net		79,443		238,330

Operating lease liabilities – current		94,998		282,279
Operating lease liabilities – non-current		—		—
Total operating lease liabilities		94,998		282,279

The following table presents the components of the Company’s office lease expense for the six months ended June 30, 2025, 2024 and 2023, which are included in general and administrative on the unaudited interim consolidated statements of operations:

SCHEDULE OF OFFICE LEASE EXPENSE

	2025		2024		2023
	For the six months ended June 30,
	2025		2024		2023
	US$		US$		US$
Operating lease cost		164,002		172,955		180,861
Variable lease cost		—		—		—
Operating lease expense		164,002		172,955		180,861
Short-term lease rent expense		4,357		8,671		25,980
Total lease expense		168,359		181,626		206,841

The following table summarizes the maturity of operating lease liabilities as of June 30, 2025:

	US$
2025		96,198
Total		96,198
Less: imputed interest		(1,200	)
Present value of lease liabilities		94,998