The following table summarizes
the activity of loans payable during the six months ended June 30, 2025:
| | |
Principal
balance at
December 31,
2024 | | |
Principal
additions | | |
Principal
repayments
in cash | | |
Other | | |
Effects
of foreign
exchange
rates | | |
Principal
balance at
June 30,
2025 | |
| Bounce Back Loan Scheme | |
$ | 19,602 | | |
$ | - | | |
$ | (7,079 | ) | |
$ | - | | |
$ | 1,903 | | |
$ | 14,426 | |
| First Insurance - 2024 | |
| 584 | | |
| - | | |
| - | | |
| (584 | ) | |
| - | | |
| - | |
| First Insurance - 2025 | |
| - | | |
| 613,700 | | |
| - | | |
| - | | |
| - | | |
| 613,700 | |
| Other loans payable | |
| 134,319 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 134,319 | |
| Total loans payable | |
$ | 154,505 | | |
$ | - | | |
$ | (7,079 | ) | |
$ | (584 | ) | |
$ | 1,903 | | |
$ | 762,445 | |
| Less: loans payable – current portion | |
| 147,889 | | |
| | | |
| | | |
| | | |
| | | |
| 762,445 | |
| Loans payable – noncurrent portion | |
$ | 6,616 | | |
| | | |
| | | |
| | | |
| | | |
$ | - | |
|