|
Note
6 – OPERATING LEASES
We
are contractually bound by a non-cancellable operating lease relating to our operating segment, PAL. Lease costs recognized in our consolidated
financial statements are summarized as follows:
SCHEDULE OF OPERATING LEASE COSTS
| |
|
April 30, |
|
|
October 31, |
|
| |
|
2026 |
|
|
2025 |
|
| |
|
|
|
|
|
|
| Lease Liability |
|
$ |
384,596 |
|
|
$ |
394,932 |
|
| Future minimum lease payments |
|
$ |
494,831 |
|
|
|
518,953 |
|
| Remaining life of the lease in years (Expires March 31, 2033) |
|
|
6.92 |
|
|
|
7.42 |
|
| Discount Rate |
|
|
6.75 |
% |
|
|
6.75 |
% |
Estimated
future minimum lease payments and imputed interest as of April 30, 2026, are as follows:
SCHEDULE OF MATURITIES OF LEASE LIABILITIES
| Years |
|
Total |
|
| |
|
|
|
| 2026 (remaining 6 months) |
|
$ |
32,644 |
|
| 2027 |
|
|
66,431 |
|
| 2028 |
|
|
68,424 |
|
| 2029 |
|
|
70,477 |
|
| 2030 |
|
|
72,591 |
|
| Thereafter |
|
|
184,264 |
|
| Total Future minimum lease payments |
|
|
494,831 |
|
| |
|
|
|
|
| Imputed Interest |
|
|
(110,235 |
) |
| Total |
|
$ |
384,596 |
|
| Lease Liability |
|
$ |
384,596 |
|
|