v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 16,069,851 $ 4,830,347
Accounts receivable, net 20,321,697 22,552,210
Inventory, net 9,667,559 15,810,997
Other receivables and current assets 20,206,845 24,200,710
Total current assets 77,858,519 71,195,723
Non-Current Assets    
Property, plant and equipment, net 32,133,461 33,173,326
Investments, net 88,908 4,343
Operating lease right of use asset (“ROU asset”), net 16,603 21,725
Total Non-Current Assets 32,238,972 33,199,394
Total Assets 110,097,491 104,395,117
Current liabilities    
Accounts payable and accrued expenses 7,426,422 52,268,010
Short-term loans 79,268,515 24,103,740
Taxes payable 773,578 108,503
Operating lease liabilities – current portion 9,223 21,385
Long-term debt payable – current portion 776,753 2,909,764
Finance lease payable – current portion 11,053 10,146
Total current liabilities 90,395,254 81,564,615
Non-Current Liabilities    
Operating lease liabilities – non current 7,564 1,596
Long term debt payable 504,319 553,062
Finance lease payable 56,559 65,520
Total Non-Current Liabilities 568,442 620,178
Total Liabilities 90,963,696 82,184,793
Shareholders’ Equity    
Ordinary share, par value $0.0001 per share; 500,000,000 shares authorized; 20,000,000 shares issued and outstanding at December 31, 2024 and 2023, respectively 2,000 2,000
Additional paid-in capital 4,634,755 8,113,541
Retained earnings 12,583,150 7,340,067
Accumulated other comprehensive income 663,895 1,989,499
Total equity attributable to equity holders’ of TMD Energy Limited 17,883,800 17,445,107
Non-controlling interests 1,249,995 4,765,217
Total Equity 19,133,795 22,210,324
Total Liabilities and Shareholders’ Equity 110,097,491 104,395,117
Related Party [Member]    
Current Assets    
Due from related parties 11,592,567 3,801,459
Current liabilities    
Other Liabilities 626,745 522,593
Nonrelated Party [Member]    
Current liabilities    
Other Liabilities $ 1,502,965 $ 1,620,474