Company: LDDD
Filing Date: 2025-09-26
Form Type: 10-K
Source: 0001213900-25-091988
Chunk: 273

Company: Longduoduo Co Ltd
Filing Date: 2025-09-26
Form: 10-K
Item: Item 2
Chunk 273
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 initial term of 12 months or less are not recorded on the balance sheet. Operating lease cost is recognized as a single lease
cost on a straight-line basis over the lease term and is recorded in selling, general and administrative expenses. For lease agreements
entered into or reassessed after the adoption of Topic 842, the Company did not combine lease and non-lease components.

Most leases do not include options to renew.
The exercise of lease renewal options has to be agreed to by the lessors. The depreciable life of assets and leasehold improvements are
limited by the term of leases, unless there is a transfer of title or purchase option reasonably certain of exercise. Lease expense is
recognized on a straight-line basis over the term of the lease. Lease expense related to these noncancelable operating leases was $63,345 and
$58,790 for the years ended June 30, 2025 and 2024, respectively.

Balance
sheet information related to the Company’s leases is presented below:

    June 30, 2025  
    June 30, 2024 
  
    Assets 

    Operating lease right of use assets 
    $32,906  
    $50,070 
  
    Liabilities 

    Operating lease liabilities – current 
    $18,570  
    $17,618 
  
    Operating lease liabilities – non-current 
     -  
     18,314 
  
    Total Operating lease liabilities 
    $18,570  
    $35,932 

Other
information related to leases is presented below:

     For the year ended June 30,      2025   2024   Cash Paid for Amounts Included in Measurement of Liabilities:          Operating cash flows used in operating leases  $18,990   $14,250   Weighted Average Remaining Lease Term:            Operating leases   1.75 years    2.75 years   Weighted Average Discount Rate            Operating leases   3.95%   3.95% 

As
most of the Company’s leases do not provide an implicit rate, the Company uses 1-5 years borrowing rate from bank of 3.95%
based on the information available at commencement date in determining the present value of lease payments.

Maturities
of lease liabilities are as follows: