LEASE

12 Months Ended

Dec. 31, 2022

Note 2. LEASE

As of December 31, 2022, the Company has operating lease agreement for its car with remaining lease terms of 39 months, photocopier with remaining lease terms of 45 months, and office lease with remaining lease terms of 24 months, respectively. The Company does not have any other leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company accounts for the lease and non-lease components of its leases as a single lease component. Lease expense is recognized on a straight-line basis over the lease term

Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The discount rate used to calculate present value is incremental borrowing rate or, if available, the rate implicit in the lease. The Company determines the incremental borrowing rate for each lease based primarily on its lease term in Taiwan which is approximately 2.44%.

Operating lease expenses were $64,972 and $54,482 for the years ended December 31, 2022 and 2021, respectively.

The components of lease expense and supplemental cash flow information related to leases for the year ended are as follows:

Lease Cost	Year ended December 31, 2022			Year ended December 31, 2021
Operating lease cost (included in general and administrative expenses in the Company’s statement of operations)	$	38,947			29,582

Other Information
Right-of-use assets obtained in exchange for new operating leases liabilities		72,495			113,592
Cash paid for amounts included in the measurement of lease liabilities for the year ended		38,947			29,582
Weighted average remaining lease term – operating leases (in years)		3.00			3.08
Average discount rate – operating lease		2.44	%		2.44	%

The supplemental balance sheet information related to leases for the period is as follows:

	December 31, 2022		December 31, 2021
Operating leases
Right-of-use assets, net	$	115,884	$	85,419

Operating lease liabilities	$	115,884	$	85,419

The future minimum lease payment schedule as follows:

For the y ear s end ing December 31,
2023	37,854
2024	37,854
2025	35,683
2026	9,322
Total lease payments	120,713
Less: Interest	(4,829	)
Total	115,884