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Operating Lease (Tables)
 6 Months Ended
Jun. 30, 2024
Lessee Disclosure [Abstract]  
Schedule of Leases by Balance Sheet Location
The following table provides a summary of leases by balance sheet location as of
June
3
0
, 2024 and December 31, 2023:
 
Assets/liabilities
 
June
3
0
,
2024
 
 
 
 
December 31,
2023
 
 
Assets
 
 
 
 
 
 
 
 
Operating lease right-of-use assets
 
$
71,870
 
 
$
87,380
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
Operating lease liability - current
 
$
32,207
 
 
$
31,413
 
Operating lease liability - non-current
 
 
39,663
 
 
 
55,967
 
Total lease liabilities
 
$
71,870
 
 
$
87,380
 
Schedule of information related to operating leases
Cash flow information related to operating leases consists of the following:
 
 
 
For the
six months
ended
June
3
0
, 2024
 
 
 
 
For the
six months
Ended
June
3
0
, 2023
 
 
Cash paid for amounts included in the measurement of operating lease liabilities
 
$
17,534
 
 
$
13,938
 
Right-of-use assets obtained in exchange for new lease obligations:
 
 
-
 
 
 
-
 
Schedule of Operating Lease Expenses
The operating lease expenses for the
six
months ended
June
3
0
, 2024 and 2023 were as follows:
 
Lease Cost
 
Classification
 
 
For the three
months ended
June
3
0
,
2024
 
 
 
 
 
 
 
 
For the three
months ended
June
3
0
,
2023
 
 
 
 
Operating lease expense
 
General and administrative expenses
 
 
$
17,534
 
 
$
13,938
 
Schedule of Operating Lease Liabilities and Future Minimum Lease Payments
Maturities of operating lease liabilities as of
June
 3
0
, 2024 were as follows:
 
Maturity of Lease Liabilities
 
Operating
Leases
 
 
Within one year
 
 
17,534
 
Within a period of more than one year but not more than two years
 
$
35,069
 
Within a period of more than two year but not more than three years
 
 
23,379
 
Within a period of more than three year but not more than four years
 
 
-
 
Within a period of more than four years but not more than five years
 
 
-
 
More than five years
 
 
-
 
Total lease commitment
 
$
75,982
 
Less: interest
 
 
(4,113
)
Present value of lease payments
 
$
71,870
 
Schedule of Lease Term and Discount Rate
Lease Term and Discount Rate
 
June
3
0
,
2024
 
 
 
 
December 31,
2023
 
 
Weighted-average remaining lease term (years)
 
 
 
 
 
 
 
 
 
 
Operating leases
 
 
2.
42
 
 
 
 
 
2.92
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average discount rate (%)
 
 
 
 
 
 
 
 
 
 
Operating leases
 
 
5
%
 
 
5
%