| Accounts receivable, net |
Note 6 — Accounts receivable, net
Accounts receivable consisted
of the following as of the date indicated:
| | |
As of
June 30,
2025 | | |
As of
December 31,
2024 | |
| Accounts receivable | |
$ | 2,503,283 | | |
$ | 2,744,118 | |
| Less: allowance for credit losses | |
| (1,060,079 | ) | |
| (915,074 | ) |
| Subtotal accounts receivable, net | |
| 1,443,204 | | |
| 1,829,044 | |
| | |
| | | |
| | |
| Accounts receivable - related party | |
$ | 730,998 | | |
$ | 1,092,960 | |
| Less: allowance for credit losses – related party | |
| (150,773 | ) | |
| (116,511 | ) |
| Subtotal accounts receivable – related party, net | |
$ | 580,225 | | |
$ | 976,449 | |
| | |
| | | |
| | |
| Total accounts receivable | |
$ | 3,234,281 | | |
$ | 3,837,078 | |
| Total allowance for credit losses | |
| (1,210,852 | ) | |
| (1,031,585 | ) |
| Total accounts receivable, net | |
$ | 2,023,429 | | |
$ | 2,805,493 | |
Provision for credit losses
were $155,984 and $14,176 for the three months ended June 30, 2025 and 2024, respectively.
Provision for credit losses
were $179,267 and $24,391 for the six months ended June 30, 2025 and 2024, respectively. Movement of allowance:
Movement of allowance for
expected credit losses (including related party) consisted of the following as of the date indicated:
| | |
As of
June 30,
2025 | | |
As of
December 31,
2024 | |
| Beginning balance | |
$ | 1,031,585 | | |
$ | 669,974 | |
| Addition | |
| 179,267 | | |
| 408,569 | |
| Write-off | |
| - | | |
| (46,958 | ) |
| Ending balance | |
$ | 1,210,852 | | |
$ | 1,031,585 | |
|