v3.25.2
Related Party Transactions - Schedule of Short-Term Loans Related Parties (Details) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Zhiyi Zhang [Member]    
Schedule of Short-Term Loans Related Parties [Line Items]    
Total short-term loans – related parties [1] $ 60,000 $ 60,000
Tie Li [Member]    
Schedule of Short-Term Loans Related Parties [Line Items]    
Total short-term loans – related parties [2] 35,000 185,000
NMCayman [Member]    
Schedule of Short-Term Loans Related Parties [Line Items]    
Total short-term loans – related parties [3] 35,755 35,755
Related Party [Member]    
Schedule of Short-Term Loans Related Parties [Line Items]    
Total short-term loans – related parties $ 130,755 $ 280,755
[1] On November 29, 2022, Visiontech signed a loan with Zhiyi (Jonathan) Zhang, one of the stockholders of the Company, for the principal amount of $100,000 with 8% interest rate. This loan is originally required to be paid in full before May 29, 2023, the Company initially extended it to November 15, 2023, further extended to February 15, 2024, subsequently further extended to August 15, 2024 and April 15, 2025 and finally extended to October 16, 2025. During the year ended December 31, 2023, the Company paid $40,000 to Zhiyi Zhang. The loan balance as of June 30, 2025 and December 31, 2024 was $60,000 and $60,000. As of June 30, 2025 and December 31, 2024, the accrued interest of this loan was $14,459 and $12,079, respectively.
[2] In December 2022, the Company signed two loans with Tie (James) Li, the Company’s CEO, for the total principal amount of $610,000 with 8% interest rate. This loan is originally required to be paid in full before June 1, 2023, the Company initially extended it to November 15, 2023. The Company made $500,000 payments towards the loan on June 16, 2023 and paid each $50,000 on July 29, 2024 and January 14, 2025. The $110,000 loan was further extended to February 15, 2024, subsequently extended to August 15, 2024 and April 15, 2025, and finally extended to October 16, 2025. The loan balance as of June 30, 2025 and December 31, 2024 was $10,000 and $60,000, respectively. The accrued interest of this loan as of June 30, 2025 and December 31, 2024 was $944 and $547, respectively. On July 11, 2023, Lakeshore signed one loan with Tie (James) Li for a principal amount of $125,000 with 8% interest rate. This loan was required to be paid in full before November 11, 2023. On December 8, 2023, Lakeshore entered into a side letter to this loan agreement to extend the repayment to March 11, 2024 and agree to waive any and all interest and penalties that may have accrued commencing on November 11, 2023. This loan was subsequently extended to September 15, 2024 and April 15, 2025, and finally extended to October 16, 2025. The Company made $100,000 payments towards the loan on January 14, 2025. The loan balance as of June 30, 2025 and December 31, 2024 was $25,000 and $125,000, respectively. As of June 30, 2025, accrued interest of this loan was $3,512.
[3] On January 17, 2023, the Company and NMCayman entered into a loan agreement for the principal amount of $318,270 with 8% interest rate. This loan is originally required to be paid in full before July 17, 2023, the Company initially extended it to November 15, 2023, further extended to February 15, 2024, subsequently extended to August 15, 2024 and April 15, 2025, and finally extended to October 16, 2025. On November 19, 2024, the Company entered into a debt-to-equity conversion agreement with NMCayman, under which $299,714 balance of this debt and $277,786 balance of another debt (see below) will be converted into 218,750 shares of common stock for James at a conversion price of $2.64 per share. As of June 30, 2025 and December 31, 2024, the loan balance was $18,556 and $18,556, respectively. As of June 30, 2025 and December 31, 2024, accrued interest of this loan was $46,916 and $46,180, respectively. On January 17, 2023, the Company and NMCayman entered into a loan agreement for the principal amount of $294,985 with 8% interest rate. This loan is originally required to be paid in full before July 17, 2023, the Company initially extended it to November 15, 2023, further extended to February 15, 2024, subsequently extended to August 15, 2024 and April 15, 2025, and finally extended to October 16, 2025. On November 19, 2024, the Company entered into a debt-to-equity conversion agreement with NMCayman, under which $277,786 balance of this debt and $299,714 balance of another debt will be converted into 218,750 shares of common stock for James at a conversion price of $2.64 per share. As of June 30, 2025 and December 31, 2024, the loan balance was $17,199 and $17,199, respectively. As of June 30, 2025 and December 31, 2024, the accrued interest of this loan was $43,132 and $42,449, respectively.