| PREPAID EXPENSES AND OTHER CURRENT ASSETS |
| 5. | PREPAID EXPENSES AND OTHER CURRENT ASSETS |
Prepayments and other current assets consisted
of the following:
| | |
As of
June 30, | | |
As of
December 31, | |
| | |
2025 | | |
2024 | |
| Prepayments to suppliers | |
$ | 1,145,460 | | |
$ | 1,168,922 | |
| Deposits | |
| 76,786 | | |
| 72,716 | |
| Tax prepayment | |
| 59,188 | | |
| 72,886 | |
| Other receivables | |
| 5,295 | | |
| 4,928 | |
| Subtotal | |
| 1,286,729 | | |
| 1,319,452 | |
| Allowance for doubtful accounts | |
| (78,623 | ) | |
| (73,196 | ) |
| Total prepaid expenses and other current assets | |
$ | 1,208,106 | | |
$ | 1,246,256 | |
The Group did not record any bad debt expense
for the six months ended June 30, 2025 and 2024.
The movement of the allowance
for doubtful accounts is as follows:
| | |
For the
six months
Ended
June 30, | | |
For the
years
ended
December 31, | |
| | |
2025 | | |
2024 | |
| Balance as of the beginning of the period / year | |
$ | (73,196 | ) | |
$ | - | |
| Provision for doubtful accounts | |
| - | | |
| (74,833 | ) |
| Exchange difference | |
| (5,427 | ) | |
| 1,637 | |
| Balance as of the end of the period / year | |
$ | (78,623 | ) | |
$ | (73,196 | ) |
|