Note 7 – Leases

 

During the years ended December 31, 2025 and 2024, the Company had eight operating agreements for a period of 4 to 5 years. The leases were for corporate office, golf carts and golf equipment.

 

The components of leases related expenses charged to statements of operations were as follows:

 

   2025   2024 
   For the Years Ended December 31, 
   2025   2024 
Operating lease cost  $250,793   $247,109 

 

Supplemental cash flow information related to leases was as follows:

 

   2025   2024 
   Years Ended December 31, 
   2025   2024 
Cash paid for amounts included in the measurement of lease liabilities:          
Operating cash flows from operating leases  $250,793   $247,109 
Weighted average discount rate   5.43%   4.95%
Weighted average remaining lease term (years)   3.96    4.26 

 

Supplemental balance sheet information related to leases was as follows:

 

   2025   2024 
   As of December 31, 
   2025   2024 
Operating lease right-of-use asset  $933,778   $775,546 
Operating lease liabilities:          
Current portion   242,256    195,115 
Non-current portion   691,522    580,431 
Operating lease liability  $933,778   $775,546 

 

Future minimum lease payments under operating leases as of December 31, 2025 were as follows:

 

Year ending December 31,    
2026  $285,740 
2027   247,495 
2028   247,495 
2029   193,535 
2030   63,250 
Total future minimum lease payments  $1,037,515 
Less imputed interest   (103,737)
Operating lease liabilities  $933,778 

 

Historical Timeline

Fiscal YearFiled
2025Mar 31, 2026Showing above
2024Mar 28, 2025

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.