v3.25.2
Unaudited Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 9,511 $ 420,131
Accounts receivable, net 1,443,204 1,829,044
Inventories, net 703,001 1,778,583
Prepayments and other current assets 92,172 151,431
Total Current Assets 2,840,813 5,165,638
NON-CURRENT ASSETS    
Deposits 777,720 428,633
Right-of-use assets, net 271,480 470,716
Cost method investment 1,000,000 1,000,000
Property and equipment, net 4,167,111 4,246,832
Total Assets 9,057,124 11,311,819
CURRENT LIABILITIES    
Short-term loans 2,497,007 2,668,604
Current portion of long-term debts 333,794 301,076
Convertible notes 812,087 987,639
Accounts payable 9,275,023 10,389,978
Other payables and accrued liabilities 4,941,131 3,467,637
Operating lease liabilities - current 128,254 262,380
Shares subscription paid in advance 238,000
Tax accrual 478,401 501,374
Deferred income - Contract liabilities 49,724 144,790
Total Current Liabilities 20,364,549 19,766,817
NON-CURRENT LIABILITIES    
Long-term debts, net of current portion 5,518,413 5,678,550
Operating lease liabilities, net of current portion 144,610 205,602
Total Non-Current Liabilities 5,663,023 5,884,152
Total Liabilities 26,027,572 25,650,969
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' DEFICIT    
Preferred Stock ($0.0001 par value, 1,000,000 shares authorized, none issued and outstanding at June 30, 2025 and December 31, 2024, respectively)
Common Stock ($0.0001 par value,100,000,000 shares authorized,7,512,769 and 2,445,364 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively)* [1] 753 246
Additional paid-in capital 11,554,958 10,396,274
Accumulated deficit (28,525,437) (24,734,689)
Accumulated other comprehensive loss (722) (981)
Total Stockholders' Deficit (16,970,448) (14,339,150)
Total Liabilities and Stockholders' Deficit 9,057,124 11,311,819
Related Party    
CURRENT ASSETS    
Accounts receivable - related parties, net 580,225 976,449
Prepayments - related parties 12,700 10,000
CURRENT LIABILITIES    
Short-term loans 130,755 280,755
Short-term loans - related parties 130,755 280,755
Convertible notes - related party 652,800  
Accounts payable - related parties 366,437 308,407
Other payables - related parties 374,668 367,709
Deferred income - Contract liabilities - related party $ 86,468 $ 86,468
[1] Giving retroactive effect to reverse recapitalization effected on March 11, 2024 and the 1-for-30 reverse stock split effected on November 21, 2024