Company: NUTR
Filing Date: 2025-04-14
Form Type: S-1/A
Source: 0001641172-25-004581
Chunk: 71

Company: NUSATRIP Inc
Filing Date: 2025-04-14
Form: S-1/A
Chunk 71
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3.

| 48 |

The Company recognizes revenue from its contracts with customers in accordance with ASC Topic 606 — Revenue from Contracts with Customers (“ASC 606”).The Company recognizes revenues when satisfying the performance obligation of the associated contract that reflects the consideration expected to be received based on the terms of the contract.

Revenue from contracts with customers is recognized using the following five steps:

● Inventories

Inventories are stated at the lower of cost or net realizable value, cost being determined on a first-in-first-out method. Costs is air ticket which is purchased from the Company’s suppliers as trading goods. The inventories are generally held for 0 to 180 days. The Company provides inventory allowances based on excess and obsolete inventories determined principally by expiry date. During the years ended December 31, 2024 and 2023, the Company recorded allowance for obsolete inventories of $55,112 and $0 at December 31, 2024 and 2023, respectively and the inventories were amounted to $77,492 and $309,379 at December 31, 2024 and 2023, respectively.

● Prepaid Expenses

Prepaid expenses represent payments made in advance for products or services to be received in the future and are amortized to expense on a ratable basis over the future period to be benefitted by that expense. When the Company has prepaid expenses categorized as both current and non-current assets, the benefits associated with the products or services are considered current assets if they are expected to be used during the next twelve months and are considered non-current assets if they are expected to be used over a period greater than one year.

● Plant and Equipment

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

|            |     | Expected     
 useful lives |
| Computer   
 equipment  |     | 3            
 years        |
| Office     
 equipment  |     | 5            
 years        |
| Renovation |     | 5            
 years        |

Expenditures for repairs and maintenance are expensed as incurred. When assets have been retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations.

● Impairment of Long-lived Assets

In accordance with the provisions of ASC Topic 360, “ Impairment or Disposal of Long-L