Company: LDDD
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-013782
Chunk: 21

Company: Longduoduo Co Ltd
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 21
---
, Longduoduo Health Technology leased office space
(approximately 150 square meters) under an operating lease agreement with Liu Libao. Under the terms of the agreement, Longduoduo
Health Technology is committed to make lease payments of approximately $4,160 (RMB30,000) for the period between March 10, 2024 and
March 10, 2025.

On April 1 of 2024, Tianju leased office space
(approximately 595 square meters) under an operating lease agreement with Han Ruijun. Under the terms of the agreement, Tianju
is committed to make lease payments of approximately $19,000 (RMB137,000) annually for the period between April 1, 2024 and March
31, 2027.

On August 14, 2024, Qingguo leased office space
(approximately 482 square meters) under an operating lease agreement with Inner Mongolia Chuangfuhui Enterprise Management Co.,
Ltd. Under the terms of the agreement, Qingguo is committed to make lease payments of approximately $30,510 (RMB 220,000) for
the period between September 10, 2024 and September 10, 2025.

Leases with
an 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 noncancelable operating
leases was $28,354 and $20,312 for the six months ended December 31, 2024 and 2023, respectively.

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

    December 31, 2024  
    June 30, 2024 
  
    Assets 

    Operating lease right of use assets 
    $