v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 4,304,514 $ 5,210,193
Accounts receivables – current, net 1,842,683 3,997,467
Contract assets, net 109,255 1,650,750
Retention receivables – current, net 248,519 117,493
Advance and prepayments 170,659 188,830
Total current assets 6,833,774 11,298,237
Accounts receivables – non-current, net 1,523,063
Retention receivables – non-current, net 221,459 220,178
Right-of-use assets, operating lease, net 91,919 206,826
Plant and equipment, net 50,835 65,565
TOTAL ASSETS 8,721,050 11,790,806
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Short-term bank loans - current 1,890,316 1,149,062
Operating lease liability - current 89,770 113,220
Finance lease liability - current 11,125 10,319
Accounts payables 558,218 1,156,523
Contract liabilities 533,483 996,526
Total current liabilities 4,754,476 5,104,704
Operating lease liability – non-current 89,251
Finance lease liability – non-current 24,489 35,408
Long-term bank loans – non-current 447,086 552,518
TOTAL LIABILITIES 5,226,051 5,781,881
Commitments and contingencies
Shareholders’ Equity    
Ordinary shares, no par value; 17,357,924 shares and 15,093,847 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively 8,350,003 8,350,002
Additional paid in capital 503,224 503,225
Accumulated deficit (5,414,635) (2,870,676)
Accumulated other comprehensive income 56,407 26,374
Total Shareholders’ Equity 3,494,999 6,008,925
TOTAL LIABILITIES AND SHAREHOLDERS’S EQUITY 8,721,050 11,790,806
Nonrelated Party [Member]    
ASSETS    
Other receivables 156,851 132,218
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Other payables 304,826 332,035
Related Party [Member]    
ASSETS    
Other receivables 1,293 1,286
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Other payables $ 1,366,738 $ 1,347,019