v3.25.2
Cost Method Investment
 6 Months Ended
Jun. 30, 2025
Cost Method Investment [Abstract]  
Cost method investment

Note 7 — Cost method investment

 

Cost method investment consists of the following:

 

   As of
June 30,
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 June 30, 2025.