At June 30, 2025 and December 31, 2024, prepaid expenses and current
assets consisted of the following.
| | |
June 30,
2025 | | |
December 31,
2024 | |
| | |
(Unaudited) | | |
| |
| Interest receivable (1) | |
$ | 391,675 | | |
$ | 434,288 | |
| Deposits (2) | |
| - | | |
| 1,010,000 | |
| Other receivables, net (3) | |
| 6,829 | | |
| 62,009 | |
| Total | |
$ | 398,504 | | |
$ | 1,506,297 | |
| (1) | Interest receivable primarily consists of interest from loans to third parties and from investments. |
| (2) | On March 11, 2024, the Company and Jia Yuanbin, sole shareholder of Viva Champion Limited (“Viva”), executed a letter of intent for a possible acquisition of the 100% equity interest in Viva that was held by Jia Yuanbin (the “LOI”). In accordance with the LOI, the Company paid a refundable deposit of $1,010,000 on April 15, 2024 to HK Jrui Trade Co Limited (“HK Jrui”) as requested by Jia Yuanbin. In March 2025, Viva refunded the deposit due to the failed acquisition. |
| (3) | Other receivables primarily consist of reserve funds and social security. |
|