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Leases | 12 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
LEASES | NOTE 7 — LEASES The Company’s leasing activities primarily consist of three operating leases for offices. ASC 842 requires leases to recognize right-of-use assets and lease liabilities on the balance sheet. The Company has elected an accounting policy to not recognize short-term leases (one year or less) on the balance sheet.
|  | As of September 30, |
|  | 2023 |  |  | 2022 |
|  | US$ |  |  | US$ |
Operating lease right-of-use assets |  | $ | 954,771 |  |  | $ | 147,099 |
Operating lease liabilities – current |  | $ | 293,040 |  |  | $ | 120,418 |
Operating lease liabilities – noncurrent |  |  | 556,674 |  |  |  | — |
Total operating lease liabilities |  | $ | 849,714 |  |  | $ | 120,418 |
The weighted-average remaining lease term and the weighted-average discount rate of leases are as follows:
|  | As of September 30, |
|  | 2023 |  |  | 2022 |
Weighted-average remaining lease term (years) |  |  | 2.45 |  |  |  | 1.96 |
Weighted-average discount rate |  |  | 4.75 | % |  |  | 4.75 | %
During the years ended September 30, 2023, 2022 and 2021, the Company incurred total operating lease expenses of $196,500, $163,552 and $164,899, respectively. The following table summarizes the maturity of operating lease liabilities as of September 30, 2023:
12 months ending September 30, |  | Operating |
|  | US$ |
2024 |  | $ | 328,558 |
2025 |  |  | 280,700 |
2026 |  |  | 302,764 |
Thereafter |  |  | — |
Total lease payments |  |  | 912,022 |
Less: imputed interest |  |  | (62,308 | )
Total lease liabilities |  | $ | 849,714 |

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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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