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LEASES (Tables)
 12 Months Ended
Dec. 31, 2023
Leases  
SCHEDULE OF OPERATING AND FINANCE LEASE RIGHT-OF-USE ASSETS

The Company had entered into an operating lease agreement for factories located in Taiwan, and two financing leases agreements for vehicles.

 

   2022   2023 
   As of December 31, 
   2022   2023 
         
Operating lease right-of-use assets, net  $182,764   $125,009 
           
Operating lease liabilities, current   58,203    61,099 
Operating lease liabilities, non-current   124,561    63,910 
Total operating lease liabilities  $182,764   $125,009 

 

   2022   2023 
   As of December 31, 
   2022   2023 
         
Financing lease right-of-use assets, net  $46,058   $8,523 
           
Finance lease liabilities, current   47,244    - 
Total financing lease liabilities  $47,244   $- 
SCHEDULE OF LEASE EXPENSE

The components of lease expense were as follows within the consolidated statements of comprehensive loss:

 

   2022   2023 
   For the years ended December 31, 
   2022   2023 
Operating lease:          
Operating lease expense  $67,290   $64,361 
Short-term lease expense   938    1,204 
Total operating lease expenses  $68,228   $65,565 
Financing leases:          
Amortization expense  $26,463   $25,150 
Interest expense   2,850    1,299 
Total financing lease expenses  $29,313   $26,449 
Total lease expenses  $97,541   $92,014 
SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO OPERATING LEASES

Supplemental balance sheet information related to leases was as follows:

 

   As of December 31, 
   2022   2023 
Weighted average discount rate:        
Operating lease   4.51%   4.51%
Financing lease   4.65%   - 
Weighted average remaining lease term:          
Operating lease   36 months    24 months 
Financing lease   8 months    -* 
SCHEDULE OF FUTURE MINIMUM RENT PAYABLE UNDER NON-CANCELABLE OPERATING AND FINANCING LEASES

As of December 31, 2023, the future minimum rent payable under non-cancelable operating and financing leases were:

 

For the fiscal years ended December 31,  Amount 
2024  $65,480 
2025   65,480 
thereafter   - 
Total lease payments   130,961 
Less: imputed interest   (5,952)
Total operating and financing lease liabilities, net of interest  $125,009