v3.25.1
Cost Method Investment
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Cost Method Investment [Abstract]    
Cost method investment

Note 7 — Cost method investment

 

Cost method investment consists of the following:

 

   As of
March 31,
2025		   As of
December 31,
2024		 
10% Investment of Iluminar  $1,000,000   $1,000,000 
Total  $1,000,000   $1,000,000 

On April 11, 2023, one of the Company’s customers, Iluminar Lighting LLC (“Iluminar”) entered into Debt Conversion Agreement with the Company pursuant to which it will convert $1,000,000 of accounts receivable to 1,033,333 shares of Iluminar which is 10% of Iluminar’s outstanding shares. The shares were issued to the Company on March 31, 2023. No identified event or change in circumstances that would have a significant adverse effect on the value of investment and the Company determined no impairment was deemed necessary as of March 31, 2025. 

Note 8 — Cost method investment

 

Cost method investment consists of the following:

 

   As of
December 31,
2024		   As of
December 31,
2023		 
10% Investment of Iluminar  $1,000,000   $1,000,000 
Total  $1,000,000   $1,000,000 

 

On April 11, 2023, one of the Company’s customers, Iluminar Lighting LLC (“Iluminar”) entered into Debt Conversion Agreement with the Company pursuant to which it will convert $1,000,000 of accounts receivable to 1,033,333 shares of Iluminar which is 10% of Iluminar’s outstanding shares. The shares were issued to the Company on March 31, 2023. No identified event or change in circumstances that would have a significant adverse effect on the value of investment and the Company determined no impairment was deemed necessary as of December 31, 2024 and 2023.