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OPERATING LEASE RIGHT-OF-USE (“ROU”) ASSETS AND OPERATING LEASE LIABILITIES | 9 Months Ended
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Sep. 30, 2025
Operating Lease Right-of-use Rou Assets And Operating Lease Liabilities |
OPERATING LEASE RIGHT-OF-USE (“ROU”) ASSETS AND OPERATING LEASE LIABILITIES | NOTE 12 – OPERATING LEASE RIGHT-OF-USE (“ROU”) ASSETS AND OPERATING LEASE LIABILITIES On July 13, 2022, and effective August 1, 2022, the Company entered into a 36-month lease agreement for the lease of office space under a non-cancelable operating lease through July 31, 2025. During the term of lease, the Company shall pay base rent of $2,704 from August 1, 2022 to July 1, 2023, with escalation of the base rent of 4% per year thereafter on the anniversary date of the lease. The Company is to pay the base rental rate plus common area assessments and sales tax for the lease payments. On June 20, 2025, the Company renewed the above operating lease through July 31, 2026. During the term of lease, the Company shall pay base rent of $2,935 from August 1, 2025 to July 31, 2026, with option for an additional 12 months to July 31, 2027, at a base rent of $3,053. The Company is to pay the base rental rate plus common area assessments and sales tax for the lease payments. In connection with this lease, on August 1, 2022, the Company incurred right of use assets and lease liabilities of $92,509. On June 20, 2025 the Company incurred an additional right of use asset and lease liabilities of $33,084 for the renewal period. In July 2021, Safe-Pro USA entered into a 62-month lease agreement for the lease of office, manufacturing and warehouse space under a non-cancelable operating lease through September 30, 2026. During the term of lease, the Company shall pay base rent of $3,043 from August 1, 2021 to September 30, 2022, with escalation of the base rent of 4% per year thereafter on the anniversary date of the lease. The Company is to pay the base rental rate plus common area assessments and sales tax for the lease payments. Common area assessments and sales tax for the lease payments are expensed monthly as incurred. In connection with the Company’s acquisition of Safe-Pro USA, on June 7, 2022, the Company acquired right of use assets and assumed lease liabilities of $156,963 and at June 30, 2022 $154,265, respectively. In April 2024, Airborne Response entered into a 39-month lease agreement for the lease of a vehicle under a non-cancelable operating lease through July 2027. During the term of lease, the Company shall pay base rent of $296 from April 2024 to July 2027. In connection with the signing of the vehicle lease, the Company recorded a right of use assets and lease liabilities of $19,583 and $9,539, respectively. In adopting ASC Topic 842, Leases (Topic 842) on January 1, 2022 the Company had elected the ‘package of practical expedients, which permitted it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs (see Note 2). In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 months or less. Upon signing new leases for property and equipment, the Company analyzed the new leases and determined it is required to record a lease liability and a right of use asset on its consolidated balance sheets, at fair value. During the three and nine months ended September 30, 2025, in connection with its operating property leases, the Company recorded rent expense of $19,121 and $67,236, respectively. During the three and nine months ended September 30, 2024, in connection with its property operating leases, the Company recorded rent expense of $22,395 and $69,100, respectively, which is expensed during the period and included in general and administrative expenses on the accompanying unaudited consolidated statements of operations. The significant assumption used to determine the present value of the lease liabilities on August 1, 2022 and June 7, 2022, and April 2024 was a discount rate ranging from 3.75%, 6.0% and 7.5%, which was based on the Safe-Pro USA’s, the Company’s and Airborne Response estimated average incremental borrowing rate, respectively. On September 30, 2025 and December 31, 2024, right-of-use asset (“ROU”) is summarized as follows: SCHEDULE OF RIGHT OF USE ASSET
|  | September 30, 2025 |  |  | December 31, 2024 |
Office lease right of use assets |  | $ | 310,598 |  |  | $ | 277,514 |
Auto lease right of use asset |  |  | 19,583 |  |  |  | 19,583 |
Less: accumulated amortization |  |  | (252,229 | ) |  |  | (195,476 | )
Balance of ROU assets |  | $ | 77,952 |  |  | $ | 101,621 |
SAFE PRO GROUP INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024 (unaudited)
Other information: |  | September 30, 2025 |  |  | December 31, 2024 |
Weighted average remaining lease term – operating leases |  |  | 0.99 years |  |  |  | 1.57 years |
Weighted average discount rate – operating leases |  |  | 4.60 | % |  |  | 4.60 | %
On September 30, 2025 and December 31, 2024, operating lease liabilities related to the ROU assets are summarized as follows: SCHEDULE OF OPERATING LEASE LIABILITY TO ROU ASSET
|  | September 30, 2025 |  |  | December 31, 2024 |
Lease liabilities related to office lease right of use assets |  | $ | 69,867 |  |  | $ | 91,113 |
Lease liabilities related to auto lease right of use asset |  |  | 5,293 |  |  |  | 7,595 |
Less: current portion of lease liabilities |  |  | (73,417 | ) |  |  | (63,115 | )
Lease liabilities – long-term |  | $ | 1,743 |  |  | $ | 35,592 |
On September 30, 2025, future minimum base lease payments due under non-cancelable operating leases are as follows: SCHEDULE OF LEASE PAYMENTS DUE UNDER NON-CANCELABLE OPERATING LEASES
Twelve months ended December 31, |  | Amount |
2025 |  | $ | 20,727 |
2026 |  |  | 56,964 |
2027 |  |  | 1,183 |
Total minimum non-cancellable operating lease payments |  |  | 78,874 |
Less: discount to fair value |  |  | (3,714 | )
Total lease liabilities on September 30, 2025 |  | $ | 75,160 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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