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PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

NOTE 4 — PROPERTY AND EQUIPMENT, NET

 

Property and equipment, net consist of the following:

 

   December 31,   December 31, 
   2025   2024 
Building  $198,508   $248,620 
Leasehold improvement   699,637    648,193 
Structures   5,460    5,404 
Facilities - asset retirement obligation   418,884    401,190 
Vehicles   21,084    20,145 
Tools, Furniture, and Fixtures   268,328    270,204 
Machinery and equipment   121,998    120,749 
Land   529,401    523,979 
Finance lease right of use assets   723,818    705,385 
Software   15,129    12,361 
Property, plant and equipment, gross   3,002,247    2,956,230 
Accumulated impairment   -    - 
Accumulated depreciation   (1,536,719)   (1,447,932)
Property and equipment, net of accumulated depreciation  $1,465,528   $1,508,298 

 

 

Depreciation and amortization expenses were $461,454, $469,299 and $333,583 for the years ended December 31, 2025, 2024 and 2023, respectively.

 

Asset Retirement Obligations

 

An asset retirement obligation is recognized in the period in which sufficient information exists to determine the fair value of the liability along with a corresponding increase to the carrying amount of the related property, and equipment, which is then depreciated over its useful life. As of December 31, 2025, our asset retirement obligations relate to our stores in Japan, that have government imposed or other legal remediation obligations. The following is a summary of our asset retirement obligation activity.

 

   December 31,   December 31, 
   2025   2024 
Balance, beginning of period  $477,668   $499,873 
Obligations Incurred   4,956    4,674 
Acquisition   26,003    55,631 
Settlements   (44,692)   (28,368)
Foreign Exchange & Other Adjustments   3,568    (54,142)
Balance, end of period  $467,503   $477,668