Company: YDDL
Filing Date: 2025-01-21
Form Type: F-1
Source: 0001213900-25-004967
Chunk: 165

Company: One & one Green Technologies. INC
Filing Date: 2025-01-21
Form: F-1
Chunk 165
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 can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred. As of both December 31, 2023 and 2022, there were no contingent liabilities relating to litigations against the Company. u)Lease In February 2016, the FASB issued ASU No. 2016 -02, “Leases (Topic 842)”. The amendments in this ASU require that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right -of-useasset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In November 2019, the FASB issued ASU No. 2019 -10, Financial Instruments — Credit losses (Topic 326), Derivative and Hedging (Topic 815), and Lease (Topic 842): Effective Date. ASU2019 -10amends the effective dates for ASU No. 2016 -02. The Company has early adopted ASU2016 -02effective January 1, 2021. The Company has adopted the ASU with changes to the Company’s balance sheet to recognize right -of-useassets and related lease liabilities for operating leases. The Company evaluates whether agreements constitute leases by reviewing the contractual terms to determine which party obtains both the economic benefits and control of the assets at the inception of the contract. Leases with contractual terms longer than twelve months are categorized as operating or finance leases at the commencement date. The Company recognizes a lease liability for future lease payments and a right -of-use(ROU) asset representing the right to use the underlying asset for the lease term. The lease term is based on the non -cancellableterm of the lease and may contain options to extend the lease when it is reasonably certain that the Company will exercise the option. Lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term using the rate implicit in the lease, if available, or the Company’s incremental borrowing rate. Leases with an initial term of