NOTE 3 – Going concern

The accompanying financial statements have been prepared assuming that the Group will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business.

As reflected in the accompanying financial statements, the Group had an accumulated deficit on June 30, 2025 of $71,060,737 and on December 31, 2024 of $71,038,015.

The Group incurred net loss of $22,722 and had net cash used in operating activities of $11,177 for the six months ended June 30, 2025.

As of June 30, 2025, the Group had net current liability of $252,916.

These conditions raised substantial doubt about the Group’s ability to continue as a going concern. The Group’s ability to continue as a going concern will require the Group to obtain additional financing to fund its operations. In assessing the going concern, the board of directors has considered:

-Additional equity financing from major shareholders or financial support from the Group’s related parties.

-Based on the business plans of the Group, the management is actively developing new business that will generate revenue and cash inflows to the Group.

The board of directors believes the Group has adequate financial resources to continue in operational existence for the foreseeable future, a period of at least 12 months from the date of this report. Accordingly, the going concern basis of accounting continues to be used in the preparation of the condensed consolidated financial statements for the three months and six months ended June 30, 2025.