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10-K/A true 2025-12-31 --12-31 2025 false 000-55038 WINNING CATERING GROUP, INC. NV 27-1467607 4800 Montgomery Lane Suite 210 Bethesda MD 20814 301 971-3940 No No Yes Yes Non-accelerated Filer true false false false true 0 704043324 0.001 None Winning Catering Group, Inc. (the “Company”) is filing this Amendment No. 1 on Form 10-K/A (this “Amendment”) to its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as filed with the Securities and Exchange Commission (the “SEC”) on February 25, 2026 (the “Original Form 10-K”) to (i) include the consent of Grassi & Co., CPAs, P.C. (“Grassi”), the Company’s former independent registered public accounting firm, which was inadvertently not included in the Original Form 10-K and is filed as Exhibit 23.1 hereto; (ii) to make a formatting correction to the Company’s Consolidated Statements of Cash Flows For the Years Ended December 31, 2025 and 2024 (in the line item “Cash of the Subsidiary Distributed”); and (iii) to note that ASU 2023-09 was adopted for the year ended December 31, 2025 under Recent Accounting Pronouncements in the Notes to Consolidated Financial Statements of the Original Form 10-K.Except as described in this Explanatory Note, this Amendment does not modify, amend, or update any of the financial information or any other information set forth in the Original Form 10-K, and this Amendment does not reflect events that occurred subsequent to the Original Form 10-K. Risk Management and StrategyWe recognize the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard our information systems and protect the confidentiality, integrity, and availability of our data. Managing Material Risks & Integrated Overall Risk Management We have strategically <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_903_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250101__20251231_zlYcS1fIZYje">integrated cybersecurity risk management into our broader risk management framework to promote a company-wide culture of cybersecurity risk management. This integration ensures that cybersecurity considerations are an integral part of our decision-making processes at every level. Our management team continuously evaluate and addresses cybersecurity risks in alignment with our business objectives and operational needs. <div style="border-bottom: Black 1pt solid; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="text-align: center; width: 100%">7</td></tr></table></div> <div style="break-before: page; margin-top: 6pt"> </div> Risks from Cybersecurity Threats We have not encountered <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_900_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantTextBlock_dbT_c20250101__20251231_zKcwpoFJJSx7">cybersecurity challenges that have materially impaired our operations or financial standing. true cybersecurity challenges that have materially impaired our operations or financial standing 7000 HTL International, LLC Houston, Texas

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<p id="xdx_809_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_zLZsznv1nca1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify">1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Winning Catering Group, Inc. (formerly known as LiquidValue Development Inc.) (the “Company”) was incorporated in the State of Nevada on December 10, 2009. On December 29, 2017, the Company, acquired Alset EHome Inc. (“Alset EHome”) by reverse merger. Alset EHome, a Delaware corporation, was formed on February 24, 2015. Alset EHome is principally engaged in developing, selling, managing, and leasing residential properties in the United States in current stage and may expand from residential properties to other property types, including but not limited to commercial and retail properties. The Company is <span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SedIntelligentHomeIncMember_zmpyPfWs2hG" title="Ownership percentage">99.99% owned by SeD Intelligent Home Inc., which is wholly owned by Alset International Limited (“Alset International”), a multinational public company, listed on the Singapore Exchange Securities Trading Limited. On August 1, 2025, the Company entered into a Contribution Agreement with Alset Real Estate Holdings Inc., a wholly owned subsidiary of the Company (“Alset Real Estate Holdings” or “AREH”). Pursuant to the terms of the Contribution Agreement, the Company agreed to transfer its ownership of all of the issued and outstanding shares of Alset EHome Inc., the company that owns substantially all of the assets and liabilities of the Company, to Alset Real Estate Holdings. On August 18, 2025, the Company completed the distribution of the issued and outstanding shares of Alset Real Estate Holdings Inc. to holders of the Company’s common stock as of August 15, 2025, in the form of a one-time special dividend (the “Distribution”). The Distribution, having an aggregate carrying value of approximately $34.8 million as of August 15, 2025 constitutes substantially all of the Company’s net asset value. Shareholders received shares on a pro rata basis, based on the number of shares of the Company’s common stock. Management evaluated the accounting for the distribution of Alset Real Estate Holdings Inc. to the Company’s shareholders. The distribution represented a non-cash, nonreciprocal transfer of a business to the Company’s shareholders on a pro rata basis, with no consideration received by the Company. Management considered the guidance in ASC 810-10 on consolidation and deconsolidation, ASC 845-10 on nonmonetary transactions, ASC 505-60 on equity transactions, and SAB Topic 5.Z.7. Upon completion of the distribution, the Company lost control of AREH and deconsolidated AREH in accordance with ASC 810-10-40. Consistent with SAB Topic 5.Z.7, the distribution was accounted for as an equity transaction, and no gain or loss was recognized upon deconsolidation. The assets and liabilities of AREH, including cash, were derecognized, with a corresponding reduction to equity. Management has also analyzed this transaction following ASC 205-20, and concluded that the Distribution should not be presented as a discontinued operation. The transaction represents a special distribution to shareholders and should be reflected as a reduction of equity in the statement of stockholders’ equity. The remaining shell should continue to report nominal assets and capital until the planned merger (as described below) is completed. Additionally, the management considered the guidance in ASC 205-30, Presentation of Financial Statements - Liquidation Basis of Accounting. The liquidation basis is required only when: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">management with the appropriate authority has approved a plan of liquidation, and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">it is remote that the entity will return from liquidation</td></tr></table> Although the Company has deconsolidated all assets and liabilities of Alset Real Estate Holdings Inc., it has not formally approved or adopted a formal plan of liquidation or dissolution. Instead, the Company has approved and is actively pursuing the consummation of a merger transaction, under which the legal entity will continue its existence and operations will continue in another form. Accordingly, the criteria for applying the liquidation basis of accounting are not met, and the financial statements have been prepared on a going concern basis in accordance with U.S. GAAP. Liquidity and Capital Resources As of December 31, 2025, the Company had cash in the amount of $5,912, compared to $2,762,935 as of December 31, 2024. In the year ended December 31, 2025, we incurred net losses, losses from operations and negative cash flow from operations. In August 2025, the Company completed the distribution of the issued and outstanding shares of Alset Real Estate Holdings Inc. to its shareholders. Following this transaction, the Company has no material operations or sources of revenue and is considered a shell company as defined under Rule 12b-2 of the Securities Exchange Act of 1934. Going Concern The Company’s current cash resources are expected to be sufficient only to cover minimal administrative and reporting costs for a limited period. The Company does not have any commitments for additional financing and will require either additional capital or a strategic transaction to continue its existence and satisfy ongoing reporting obligations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from this uncertainty. On May 30, 2025, the Company entered into an Acquisition Agreement and Plan of Merger (the “Acquisition Agreement”) with SeD Intelligent Home Inc., LVD Merger Corp., a wholly owned subsidiary of the Company; Winning Catering Management Limited (“Winning Group”); Winning Holdings Limited; and Pure Talent Group Limited. Pursuant to the Acquisition Agreement, LVD Merger Corp. will merge with and into Winning Group, with Winning Group surviving the merger as a wholly owned subsidiary of the Company. In connection with the merger, the Company will issue new shares of its common stock, following which Winning Holdings will own approximately 80% of the issued and outstanding shares of the Company. The planned merger represents management’s strategy to secure a new business operation and address the substantial doubt regarding the Company’s ability to continue as a going concern. While management is actively pursuing completion of the merger, the transaction had not been consummated as of the issuance date of this Annual Report on Form 10-K and, therefore, does not currently alleviate the substantial doubt about the Company’s ability to continue as a going concern. 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width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryOneMember_zwvBJifD5Yzk" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_901_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryOneMember_zFtdBoEAuFj7" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_986_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zt3oFJvPcknj" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD USA, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zUg58BbrCwYf" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zJrCZ3w8MPAe" title="Date of incorporation or formation">August 20, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zojgnljAJUd8" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_z75VeJJNrDdk" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_983_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zzhLqYKLAUGl" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">150 Black Oak GP, Inc.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zuwCLtYOngs7" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Texas</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_904_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_z2MEy8pDsqSf" title="Date of incorporation or formation">January 23, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zglEm0Qre3N7" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zM9c1FytEhLj" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_986_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zpKbKzu0Us11" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Development USA, Inc.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zH5ss7yL8yya" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_za34nCsH2VB2" title="Date of incorporation or formation">March 13, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zQqlYDozhTE7" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zSzjBg6qgX77" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_987_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zkng2mPNudkb" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">150 CCM Black Oak Ltd.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_z36DBBdBQAPf" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Texas</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zdxIMz4iWudc" title="Date of incorporation or formation">January 23, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zvHICMYoa8S8" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zy4aRhNSN491" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_982_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zrogIuTnJzpk" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Ballenger, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zn0857rRqVC2" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zzhNJq8kPLSg" title="Date of incorporation or formation">July 7, 2015</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zVHZ06rkpk15" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiarySixMember_zny4GUscsoRl" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_98D_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_znePu6dUOhi4" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Maryland Development, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_zmZQkkforqSe" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_zAF7BH6X0CWa" title="Date of incorporation or formation">October 16, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_z3kjIwhPQS9a" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiarySevenMember_zd3mqA8MjqO8" title="Attributable interest">83.55</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_986_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_ztCeQdZvlI1b" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Development Management, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zlWro2qTcpd8" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_903_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zTXKGUUEGcDe" title="Date of incorporation or formation">June 18, 2015</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zQVQQakBMKA" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zrv8ytVgnYjc" title="Attributable interest">85</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_983_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_znuXxIuJlF92" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">AHR Black Oak One, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_z24sZUaoF5r3" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_907_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_zPiqrMv5ahfk" title="Date of incorporation or formation">September 29, 2021</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_zKpDlxPkpOU9" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryNineMember_znsYAwD5vyJh" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_982_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zDUNAIUQUPs8" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">LVD Merger Corp.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zDAQMVI8iRk4" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Nevada</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_z0BjsjHFGST7" title="Date of incorporation or formation">May 29, 2025</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zwbdf2NaQC2l" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zNoV2E10Zelj" title="Attributable interest">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> All intercompany balances and transactions have been eliminated. Non–controlling interest represents the minority equity investment in the Company’s subsidiaries, plus the minority investors’ share of the net operating results and other components of equity relating to the non–controlling interests. The Company’s subsidiary Alset Solar Inc. was closed on June 21, 2024. The Company’s subsidiary SeD REIT Inc. was closed on August 26, 2024. The Company’s subsidiary SeD Builder LLC was closed on September 2, 2024. The closing of these three companies did not have any effect on the Company’s financial statements. As of December 31, 2025 and 2024, the aggregate non-controlling interest was $0 and $65,672, respectively, which are separately disclosed on the Consolidated Balance Sheets. Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements. Actual results could differ from those estimates. Income (Loss) per Share Basic income (loss) per share is computed by dividing the net income (loss) attributable to the common stockholders by weighted average number of shares of common stock outstanding during the period. Fully diluted income (loss) per share is computed similar to basic income (loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. There were no dilutive financial instruments issued or outstanding for the years ended December 31, 2025 or 2024. Fair Value of Financial Instruments The carrying value of cash, restricted cash, accounts payable and accrued expenses, and short-term borrowings, as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments. All other significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the consolidated financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practicable the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed. Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Company classifies and discloses assets and liabilities carried at fair value in one of the following three categories: ● Level 1 – quoted prices in active markets for identical assets and liabilities; ● Level 2 – observable market-based inputs or unobservable inputs that are corroborated by market data; and ● Level 3 – significant unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. Cash The Company considers all highly liquid investments with a maturity of three months or less at the date of acquisition to be cash equivalents. There were no cash equivalents as of December 31, 2025 and 2024. Restricted Cash As a condition to the loan agreement with the Manufacturers and Traders Trust Company (“M&T Bank”), the Company’s subsidiary, SeD Maryland Development LLC, was required to maintain a minimum of $<span id="xdx_90D_eus-gaap--InterestBearingDomesticDepositMoneyMarket_iI_pp0p0_c20190417__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_zR88ZE3vga2f" title="Collateral, interest-bearing account">2,600,000 in an interest-bearing account maintained by the lender as additional security for the loans. The fund was required to remain as collateral for the loan and outstanding letters of credit until the loan and letters of credit are paid off in full and the loan agreement is terminated. The loan has expired during 2022 and only letters of credit are outstanding as of December 31, 2024. On March 15, 2022 approximately $<span id="xdx_905_eus-gaap--PaymentsForProceedsFromDepositOnLoan_c20220315__20220315__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_zfSWZ2fC8oph" title="Collateral amount released">2,300,000 was released from collateral. On December 14, 2023 additional $<span id="xdx_909_eus-gaap--PaymentsForProceedsFromDepositOnLoan_c20231214__20231214__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_zYYwLGEk4MO4" title="Collateral amount released">201,751 was released from collateral. As of December 31, 2025 and 2024, the total balance of this account was $0 and $107,874, respectively. Following the completion of the distribution of shares of Alset Real Estate Holdings Inc. in 2025, the collateral referenced above is no longer held by the Company. Other Receivables Other receivables mostly include funds due from a title company and federal tax refund receivable. Reimbursement Receivable, Net Reimbursement receivable includes developer reimbursements for Lakes at Black Oak and Alset Villas projects. The Company records an allowance for credit losses based on previous collection experiences, the creditability of the organizations that are supposed to reimburse us, the forecasts from the third-party engineering company and Moody’s credit ratings. The allowance amount for these reimbursements was immaterial at December 31, 2025 and 2024. Fixed Assets, Net Property and equipment are recorded at cost, net of depreciation. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation is computed by the straight-line method (after taking into account their respective estimated residual values) over the estimated useful lives, which are 3 years. Real Estate Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Land Development Assets</td></tr> </table> Real estate assets are recorded at cost, except when real estate assets are acquired that meet the definition of a business combination in accordance with Financial Accounting Standards Board (“FASB”) ASC 805, “Business Combinations,” which acquired assets are recorded at fair value. Interest, property taxes, insurance and other incremental costs (including salaries) directly related to a project are capitalized during the construction period of major facilities and land improvements. The capitalization period begins when activities to develop the parcel commence and ends when the asset constructed is completed. The capitalized costs are recorded as part of the asset to which they relate and are reduced when lots are sold. In addition to our annual assessment of potential triggering events in accordance with ASC 360, the Company applies a fair value-based impairment test to the net book value assets on an annual basis. The Company would also apply a fair value-based impairment test to the net book value assets in the interim if certain events or circumstances indicate that an impairment loss may have occurred. The Company did not record impairment on any of its projects during the year ended December 31, 2024. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Rental of Model Houses</td></tr> </table> In May 2023, the Company entered into a lease agreement for one of its model houses located in Montgomery County, Texas. This lease agreement was terminated in February 2025. On July 14, 2023, 150 CCM Black Oak Ltd entered into a model home lease agreement with Davidson Homes, LLC (“Davidson”). On August 3, 2023, Black Oak entered into a development and construction agreement with Davidson to build a model house located in Montgomery County, Texas. On January 4, 2024, Black Oak paid $220,076 to Davidson as reimbursement for final construction cost and the contractor’s fee. The model home lease commenced on January 1, 2024, lease term is twenty-four (24) full months and annual base rent equals to twelve percent (<span id="xdx_902_ecustom--RentPercentageBasedOnConstructionCosts_pid_dp_uPure_c20240104__20240104__dei--LegalEntityAxis__custom--OneHundredFiftyCCMBlackOakLtdMember_zGOzo4YEwz71" title="Rent percentage based on construction costs">12%) of the total of the final cost of construction costs and the contractor’s fee. Revenue Recognition <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Land Development Revenue Recognition</td></tr> </table> ASC 606, Revenue from Contracts with Customers (“ASC 606”), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which we expect to be entitled to receive in exchange for these goods or services. The provisions of ASC 606 include a five-step process by which we determine revenue recognition, depicting the transfer of goods or services to customers in amounts reflecting the payment to which we expect to be entitled in exchange for those goods or services. ASC 606 requires us to apply the following steps: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, we satisfy the performance obligation. A detailed breakdown of the five-step process for the revenue recognition of our Lakes at Black Oak and Alset Villas projects, which earned the majority of the Company’s revenue in 2024, is as follows: a) Identify the contract with a customer. The Company has signed agreements with the builders for developing the raw land to ready to build lots. The contract has agreed upon prices, timelines, and specifications for what is to be provided. b) Identify the performance obligations in the contract. Performance obligations of the company include delivering developed lots to the customer, which are required to meet certain specifications that are outlined in the contract. The customer inspects all lots prior to accepting title to ensure all specifications are met. c) Determine the transaction price. The transaction price is specified in the contract. Any subsequent change orders or price changes are required to be approved by both parties. d) Allocate the transaction price to performance obligations in the contract. Each lot is considered to be a separate performance obligation, for which the specified price in the contract is allocated to. e) Recognize revenue when (or as) the entity satisfies a performance obligation. The builders do the inspections to make sure all conditions/requirements are met before taking title of lots. The Company recognizes revenue when title is transferred. The Company does not have further performance obligations once title is transferred. Revenue is recognized at a point in time. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Rental Revenue Recognition</td></tr> </table> The Company leases real estate properties to its tenants under leases that are predominately classified as operating leases, in accordance with ASC 842, Leases (“ASC 842”). Real estate rental revenue is comprised of minimum base rent and revenue from the collection of lease termination fees. Rent from tenants is recorded in accordance with the terms of each lease agreement on a straight-line basis over the initial term of the lease. Rental revenue recognition begins when the tenant controls the space and continues through the term of the related lease. Generally, at the end of the lease term, the Company provides the tenant with a one year renewal option, including mostly the same terms and conditions provided under the initial lease term, subject to rent increases. The Company defers rental revenue related to lease payments received from tenants in advance of their due dates. Rental revenue is subject to an evaluation for collectability on several factors, including payment history, the financial strength of the tenant and any guarantors, historical operations and operating trends of the property, and current economic conditions. If our evaluation of these factors indicates that it is not probable that we will recover substantially all of the receivable, rental revenue is limited to the lesser of the rental revenue that would be recognized on a straight-line basis (as applicable) or the lease payments that have been collected from the lessee. Differences between rental revenue recognized and amounts contractually due under the lease agreements are credited or charged to straight-line rent receivable or straight-line rent liability, as applicable. Cost of Revenue <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Cost of Real Estate Sale</td></tr> </table> All of the costs of real estate sales are from our land development business. Land acquisition costs are allocated to each lot based on the area method, the size of the lot comparing to the total size of all lots in the project. Development costs and capitalized interest are allocated to lots sold based on the total expected development and interest costs of the completed project and allocating a percentage of those costs based on the selling price of the sold lot compared to the expected sales values of all lots in the project. If allocation of development costs based on the projection and relative expected sales value is impracticable, those costs could also be allocated based on area method, the size of the lot comparing to the total size of all lots in the project. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Cost of Rental Revenue</td></tr> </table> Cost of rental revenue consists primarily of the costs associated with management and leasing fees to our management company, repairs and maintenance, depreciation, property taxes and other related administrative costs. Utility expenses are paid directly by tenants. Income Taxes Deferred income tax assets and liabilities are determined based on the estimated future tax effects of net operating loss and credit carry-forwards and temporary differences between the tax basis of assets and liabilities and their respective financial reporting amounts measured at the current enacted tax rates. The differences relate primarily to net operating loss carryforward from date of acquisition and to the use of the cash basis of accounting for income tax purposes. The Company records an estimated valuation allowance on its deferred income tax assets if it is more likely than not that these deferred income tax assets will not be realized. The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company has not recorded any unrecognized tax benefits. The Company’s tax returns for 2024, 2023 and 2022 remain open to examination. The Company’s federal income tax return for the year ended December 31, 2023 is currently under examination by the Internal Revenue Service. Segments The Company has one reportable segment, real estate, which includes its land development projects and rental business. The Company’s chief operating decision makers (the “CODMs”) are the Co-Chief Executive Officers, who review and assess the performance of the Company as a whole. The CODMs primarily use net income (loss) and operating income (loss) to evaluate performance and allocate resources, and these measures are prepared on the same basis as in the Company’s Consolidated Statements of Operations. The CODMs use these measures in assessing ongoing operations and in the Company’s internal planning and forecasting processes. Segment expenses and other items are provided to the CODMs on the same basis as presented in the Consolidated Statements of Operations, and the CODMs do not use information on segment assets in evaluating performance or allocating resources. Recent Accounting Pronouncements In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The amendment in the ASU is intended to enhance the transparency and decision usefulness of income tax disclosures. The ASU’s amendments are effective for annual periods beginning after December 15, 2024. The Company adopted ASU 2023-09 for the year ended December 31, 2025. The adoption of this ASU did not have a material impact on our consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03 (“ASU 2024-03”), Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to improve disclosures about a public business entity’s expenses, primarily through additional disaggregation of income statement expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The amendments in ASU 2024-03 should be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the ASU to determine the impact on the Company’s disclosures.

0.9999

34800000

Liquidity and Capital Resources As of December 31, 2025, the Company had cash in the amount of $5,912, compared to $2,762,935 as of December 31, 2024. In the year ended December 31, 2025, we incurred net losses, losses from operations and negative cash flow from operations. In August 2025, the Company completed the distribution of the issued and outstanding shares of Alset Real Estate Holdings Inc. to its shareholders. Following this transaction, the Company has no material operations or sources of revenue and is considered a shell company as defined under Rule 12b-2 of the Securities Exchange Act of 1934.

5912

2762935

Going Concern The Company’s current cash resources are expected to be sufficient only to cover minimal administrative and reporting costs for a limited period. The Company does not have any commitments for additional financing and will require either additional capital or a strategic transaction to continue its existence and satisfy ongoing reporting obligations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from this uncertainty. On May 30, 2025, the Company entered into an Acquisition Agreement and Plan of Merger (the “Acquisition Agreement”) with SeD Intelligent Home Inc., LVD Merger Corp., a wholly owned subsidiary of the Company; Winning Catering Management Limited (“Winning Group”); Winning Holdings Limited; and Pure Talent Group Limited. Pursuant to the Acquisition Agreement, LVD Merger Corp. will merge with and into Winning Group, with Winning Group surviving the merger as a wholly owned subsidiary of the Company. In connection with the merger, the Company will issue new shares of its common stock, following which Winning Holdings will own approximately 80% of the issued and outstanding shares of the Company. The planned merger represents management’s strategy to secure a new business operation and address the substantial doubt regarding the Company’s ability to continue as a going concern. While management is actively pursuing completion of the merger, the transaction had not been consummated as of the issuance date of this Annual Report on Form 10-K and, therefore, does not currently alleviate the substantial doubt about the Company’s ability to continue as a going concern.

Principles of Consolidation <p id="xdx_89C_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zAiB1IKKUDA3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify">The consolidated financial statements include all accounts of the entities as of the reporting period ending dates and for the reporting periods as follows: SCHEDULE OF ACCOUNTS OF ENTITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: center">Name of consolidated subsidiary</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: center">State or other jurisdiction of incorporation or organization</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Date of incorporation or formation</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: center">Attributable interest as of December 31, 2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: center">Attributable interest as of December 31, 2024</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_98B_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryOneMember_zB3GsymxjFz6" style="font-family: Times New Roman, Times, Serif; width: 28%; text-align: left" title="Name of consolidated subsidiary">Alset EHome Inc.</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryOneMember_z5dp4VlCY3E2" style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: center"><span id="xdx_908_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryOneMember_zvsTM6t9Ogce" title="Date of incorporation or formation">February 24, 2015</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryOneMember_zwvBJifD5Yzk" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_901_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryOneMember_zFtdBoEAuFj7" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_986_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zt3oFJvPcknj" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD USA, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zUg58BbrCwYf" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zJrCZ3w8MPAe" title="Date of incorporation or formation">August 20, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zojgnljAJUd8" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_z75VeJJNrDdk" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_983_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zzhLqYKLAUGl" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">150 Black Oak GP, Inc.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zuwCLtYOngs7" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Texas</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_904_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_z2MEy8pDsqSf" title="Date of incorporation or formation">January 23, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zglEm0Qre3N7" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zM9c1FytEhLj" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_986_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zpKbKzu0Us11" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Development USA, Inc.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zH5ss7yL8yya" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_za34nCsH2VB2" title="Date of incorporation or formation">March 13, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zQqlYDozhTE7" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zSzjBg6qgX77" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_987_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zkng2mPNudkb" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">150 CCM Black Oak Ltd.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_z36DBBdBQAPf" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Texas</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zdxIMz4iWudc" title="Date of incorporation or formation">January 23, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zvHICMYoa8S8" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zy4aRhNSN491" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_982_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zrogIuTnJzpk" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Ballenger, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zn0857rRqVC2" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zzhNJq8kPLSg" title="Date of incorporation or formation">July 7, 2015</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zVHZ06rkpk15" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiarySixMember_zny4GUscsoRl" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_98D_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_znePu6dUOhi4" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Maryland Development, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_zmZQkkforqSe" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_zAF7BH6X0CWa" title="Date of incorporation or formation">October 16, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_z3kjIwhPQS9a" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiarySevenMember_zd3mqA8MjqO8" title="Attributable interest">83.55</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_986_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_ztCeQdZvlI1b" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Development Management, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zlWro2qTcpd8" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_903_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zTXKGUUEGcDe" title="Date of incorporation or formation">June 18, 2015</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zQVQQakBMKA" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zrv8ytVgnYjc" title="Attributable interest">85</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_983_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_znuXxIuJlF92" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">AHR Black Oak One, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_z24sZUaoF5r3" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_907_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_zPiqrMv5ahfk" title="Date of incorporation or formation">September 29, 2021</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_zKpDlxPkpOU9" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryNineMember_znsYAwD5vyJh" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_982_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zDUNAIUQUPs8" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">LVD Merger Corp.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zDAQMVI8iRk4" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Nevada</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_z0BjsjHFGST7" title="Date of incorporation or formation">May 29, 2025</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zwbdf2NaQC2l" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zNoV2E10Zelj" title="Attributable interest">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> All intercompany balances and transactions have been eliminated. Non–controlling interest represents the minority equity investment in the Company’s subsidiaries, plus the minority investors’ share of the net operating results and other components of equity relating to the non–controlling interests. The Company’s subsidiary Alset Solar Inc. was closed on June 21, 2024. The Company’s subsidiary SeD REIT Inc. was closed on August 26, 2024. The Company’s subsidiary SeD Builder LLC was closed on September 2, 2024. The closing of these three companies did not have any effect on the Company’s financial statements. As of December 31, 2025 and 2024, the aggregate non-controlling interest was $0 and $65,672, respectively, which are separately disclosed on the Consolidated Balance Sheets.

<p id="xdx_89C_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zAiB1IKKUDA3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify">The consolidated financial statements include all accounts of the entities as of the reporting period ending dates and for the reporting periods as follows: SCHEDULE OF ACCOUNTS OF ENTITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: center">Name of consolidated subsidiary</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: center">State or other jurisdiction of incorporation or organization</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Date of incorporation or formation</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: center">Attributable interest as of December 31, 2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: center">Attributable interest as of December 31, 2024</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_98B_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryOneMember_zB3GsymxjFz6" style="font-family: Times New Roman, Times, Serif; width: 28%; text-align: left" title="Name of consolidated subsidiary">Alset EHome Inc.</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td id="xdx_987_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryOneMember_z5dp4VlCY3E2" style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: center"><span id="xdx_908_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryOneMember_zvsTM6t9Ogce" title="Date of incorporation or formation">February 24, 2015</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryOneMember_zwvBJifD5Yzk" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_901_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryOneMember_zFtdBoEAuFj7" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_986_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zt3oFJvPcknj" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD USA, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_981_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zUg58BbrCwYf" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zJrCZ3w8MPAe" title="Date of incorporation or formation">August 20, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_zojgnljAJUd8" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryTwoMember_z75VeJJNrDdk" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_983_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zzhLqYKLAUGl" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">150 Black Oak GP, Inc.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zuwCLtYOngs7" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Texas</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_904_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_z2MEy8pDsqSf" title="Date of incorporation or formation">January 23, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zglEm0Qre3N7" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryThreeMember_zM9c1FytEhLj" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_986_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zpKbKzu0Us11" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Development USA, Inc.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_984_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zH5ss7yL8yya" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_za34nCsH2VB2" title="Date of incorporation or formation">March 13, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zQqlYDozhTE7" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryFourMember_zSzjBg6qgX77" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_987_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zkng2mPNudkb" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">150 CCM Black Oak Ltd.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_98D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_z36DBBdBQAPf" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Texas</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90D_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zdxIMz4iWudc" title="Date of incorporation or formation">January 23, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zvHICMYoa8S8" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryFiveMember_zy4aRhNSN491" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_982_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zrogIuTnJzpk" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Ballenger, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zn0857rRqVC2" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zzhNJq8kPLSg" title="Date of incorporation or formation">July 7, 2015</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_904_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySixMember_zVHZ06rkpk15" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiarySixMember_zny4GUscsoRl" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_98D_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_znePu6dUOhi4" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Maryland Development, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_98B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_zmZQkkforqSe" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_zAF7BH6X0CWa" title="Date of incorporation or formation">October 16, 2014</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_901_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiarySevenMember_z3kjIwhPQS9a" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiarySevenMember_zd3mqA8MjqO8" title="Attributable interest">83.55</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_986_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_ztCeQdZvlI1b" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">SeD Development Management, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_988_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zlWro2qTcpd8" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_903_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zTXKGUUEGcDe" title="Date of incorporation or formation">June 18, 2015</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zQVQQakBMKA" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryEightMember_zrv8ytVgnYjc" title="Attributable interest">85</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td id="xdx_983_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_znuXxIuJlF92" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">AHR Black Oak One, LLC</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_989_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_z24sZUaoF5r3" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Delaware</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_907_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_zPiqrMv5ahfk" title="Date of incorporation or formation">September 29, 2021</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryNineMember_zKpDlxPkpOU9" title="Attributable interest">0</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryNineMember_znsYAwD5vyJh" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td id="xdx_982_ecustom--NameOfConsolidatedSubsidiary_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zDUNAIUQUPs8" style="font-family: Times New Roman, Times, Serif; text-align: left" title="Name of consolidated subsidiary">LVD Merger Corp.</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td id="xdx_982_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipState_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zDAQMVI8iRk4" style="font-family: Times New Roman, Times, Serif; text-align: center" title="State or other jurisdiction of incorporation or organization">Nevada</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center"><span id="xdx_90B_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDate_dd_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_z0BjsjHFGST7" title="Date of incorporation or formation">May 29, 2025</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20250101__20251231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zwbdf2NaQC2l" title="Attributable interest">100</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterest_dp_uPure_c20240101__20241231__srt--OwnershipAxis__custom--SubsidiaryTenMember_zNoV2E10Zelj" title="Attributable interest">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> </table>

Alset EHome Inc.

Delaware

2015-02-24

SeD USA, LLC

Delaware

2014-08-20

150 Black Oak GP, Inc.

Texas

2014-01-23

SeD Development USA, Inc.

Delaware

2014-03-13

150 CCM Black Oak Ltd.

Texas

2014-01-23

SeD Ballenger, LLC

Delaware

2015-07-07

SeD Maryland Development, LLC

Delaware

2014-10-16

0.8355

SeD Development Management, LLC

Delaware

2015-06-18

0.85

AHR Black Oak One, LLC

Delaware

2021-09-29

LVD Merger Corp.

Nevada

2025-05-29

65672

Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).

Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements. Actual results could differ from those estimates.

Income (Loss) per Share Basic income (loss) per share is computed by dividing the net income (loss) attributable to the common stockholders by weighted average number of shares of common stock outstanding during the period. Fully diluted income (loss) per share is computed similar to basic income (loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. There were no dilutive financial instruments issued or outstanding for the years ended December 31, 2025 or 2024.

Fair Value of Financial Instruments The carrying value of cash, restricted cash, accounts payable and accrued expenses, and short-term borrowings, as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments. All other significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the consolidated financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practicable the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed. Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The categorization of financial assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Company classifies and discloses assets and liabilities carried at fair value in one of the following three categories: ● Level 1 – quoted prices in active markets for identical assets and liabilities; ● Level 2 – observable market-based inputs or unobservable inputs that are corroborated by market data; and ● Level 3 – significant unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Cash The Company considers all highly liquid investments with a maturity of three months or less at the date of acquisition to be cash equivalents. There were no cash equivalents as of December 31, 2025 and 2024.

Restricted Cash As a condition to the loan agreement with the Manufacturers and Traders Trust Company (“M&T Bank”), the Company’s subsidiary, SeD Maryland Development LLC, was required to maintain a minimum of $<span id="xdx_90D_eus-gaap--InterestBearingDomesticDepositMoneyMarket_iI_pp0p0_c20190417__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_zR88ZE3vga2f" title="Collateral, interest-bearing account">2,600,000 in an interest-bearing account maintained by the lender as additional security for the loans. The fund was required to remain as collateral for the loan and outstanding letters of credit until the loan and letters of credit are paid off in full and the loan agreement is terminated. The loan has expired during 2022 and only letters of credit are outstanding as of December 31, 2024. On March 15, 2022 approximately $<span id="xdx_905_eus-gaap--PaymentsForProceedsFromDepositOnLoan_c20220315__20220315__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_zfSWZ2fC8oph" title="Collateral amount released">2,300,000 was released from collateral. On December 14, 2023 additional $<span id="xdx_909_eus-gaap--PaymentsForProceedsFromDepositOnLoan_c20231214__20231214__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_zYYwLGEk4MO4" title="Collateral amount released">201,751 was released from collateral. As of December 31, 2025 and 2024, the total balance of this account was $0 and $107,874, respectively. Following the completion of the distribution of shares of Alset Real Estate Holdings Inc. in 2025, the collateral referenced above is no longer held by the Company.

2600000

2300000

201751

107874

Other Receivables Other receivables mostly include funds due from a title company and federal tax refund receivable.

Reimbursement Receivable, Net Reimbursement receivable includes developer reimbursements for Lakes at Black Oak and Alset Villas projects. The Company records an allowance for credit losses based on previous collection experiences, the creditability of the organizations that are supposed to reimburse us, the forecasts from the third-party engineering company and Moody’s credit ratings. The allowance amount for these reimbursements was immaterial at December 31, 2025 and 2024.

Fixed Assets, Net Property and equipment are recorded at cost, net of depreciation. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation is computed by the straight-line method (after taking into account their respective estimated residual values) over the estimated useful lives, which are 3 years.

Real Estate Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Land Development Assets</td></tr> </table> Real estate assets are recorded at cost, except when real estate assets are acquired that meet the definition of a business combination in accordance with Financial Accounting Standards Board (“FASB”) ASC 805, “Business Combinations,” which acquired assets are recorded at fair value. Interest, property taxes, insurance and other incremental costs (including salaries) directly related to a project are capitalized during the construction period of major facilities and land improvements. The capitalization period begins when activities to develop the parcel commence and ends when the asset constructed is completed. The capitalized costs are recorded as part of the asset to which they relate and are reduced when lots are sold. In addition to our annual assessment of potential triggering events in accordance with ASC 360, the Company applies a fair value-based impairment test to the net book value assets on an annual basis. The Company would also apply a fair value-based impairment test to the net book value assets in the interim if certain events or circumstances indicate that an impairment loss may have occurred. The Company did not record impairment on any of its projects during the year ended December 31, 2024. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Rental of Model Houses</td></tr> </table> In May 2023, the Company entered into a lease agreement for one of its model houses located in Montgomery County, Texas. This lease agreement was terminated in February 2025. On July 14, 2023, 150 CCM Black Oak Ltd entered into a model home lease agreement with Davidson Homes, LLC (“Davidson”). On August 3, 2023, Black Oak entered into a development and construction agreement with Davidson to build a model house located in Montgomery County, Texas. On January 4, 2024, Black Oak paid $220,076 to Davidson as reimbursement for final construction cost and the contractor’s fee. The model home lease commenced on January 1, 2024, lease term is twenty-four (24) full months and annual base rent equals to twelve percent (<span id="xdx_902_ecustom--RentPercentageBasedOnConstructionCosts_pid_dp_uPure_c20240104__20240104__dei--LegalEntityAxis__custom--OneHundredFiftyCCMBlackOakLtdMember_zGOzo4YEwz71" title="Rent percentage based on construction costs">12%) of the total of the final cost of construction costs and the contractor’s fee.

220076

P24M

0.12

Revenue Recognition <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Land Development Revenue Recognition</td></tr> </table> ASC 606, Revenue from Contracts with Customers (“ASC 606”), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which we expect to be entitled to receive in exchange for these goods or services. The provisions of ASC 606 include a five-step process by which we determine revenue recognition, depicting the transfer of goods or services to customers in amounts reflecting the payment to which we expect to be entitled in exchange for those goods or services. ASC 606 requires us to apply the following steps: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, we satisfy the performance obligation. A detailed breakdown of the five-step process for the revenue recognition of our Lakes at Black Oak and Alset Villas projects, which earned the majority of the Company’s revenue in 2024, is as follows: a) Identify the contract with a customer. The Company has signed agreements with the builders for developing the raw land to ready to build lots. The contract has agreed upon prices, timelines, and specifications for what is to be provided. b) Identify the performance obligations in the contract. Performance obligations of the company include delivering developed lots to the customer, which are required to meet certain specifications that are outlined in the contract. The customer inspects all lots prior to accepting title to ensure all specifications are met. c) Determine the transaction price. The transaction price is specified in the contract. Any subsequent change orders or price changes are required to be approved by both parties. d) Allocate the transaction price to performance obligations in the contract. Each lot is considered to be a separate performance obligation, for which the specified price in the contract is allocated to. e) Recognize revenue when (or as) the entity satisfies a performance obligation. The builders do the inspections to make sure all conditions/requirements are met before taking title of lots. The Company recognizes revenue when title is transferred. The Company does not have further performance obligations once title is transferred. Revenue is recognized at a point in time. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">Rental Revenue Recognition</td></tr> </table> The Company leases real estate properties to its tenants under leases that are predominately classified as operating leases, in accordance with ASC 842, Leases (“ASC 842”). Real estate rental revenue is comprised of minimum base rent and revenue from the collection of lease termination fees. Rent from tenants is recorded in accordance with the terms of each lease agreement on a straight-line basis over the initial term of the lease. Rental revenue recognition begins when the tenant controls the space and continues through the term of the related lease. Generally, at the end of the lease term, the Company provides the tenant with a one year renewal option, including mostly the same terms and conditions provided under the initial lease term, subject to rent increases. The Company defers rental revenue related to lease payments received from tenants in advance of their due dates. Rental revenue is subject to an evaluation for collectability on several factors, including payment history, the financial strength of the tenant and any guarantors, historical operations and operating trends of the property, and current economic conditions. If our evaluation of these factors indicates that it is not probable that we will recover substantially all of the receivable, rental revenue is limited to the lesser of the rental revenue that would be recognized on a straight-line basis (as applicable) or the lease payments that have been collected from the lessee. Differences between rental revenue recognized and amounts contractually due under the lease agreements are credited or charged to straight-line rent receivable or straight-line rent liability, as applicable.

Cost of Revenue <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Cost of Real Estate Sale</td></tr> </table> All of the costs of real estate sales are from our land development business. Land acquisition costs are allocated to each lot based on the area method, the size of the lot comparing to the total size of all lots in the project. Development costs and capitalized interest are allocated to lots sold based on the total expected development and interest costs of the completed project and allocating a percentage of those costs based on the selling price of the sold lot compared to the expected sales values of all lots in the project. If allocation of development costs based on the projection and relative expected sales value is impracticable, those costs could also be allocated based on area method, the size of the lot comparing to the total size of all lots in the project. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Cost of Rental Revenue</td></tr> </table> Cost of rental revenue consists primarily of the costs associated with management and leasing fees to our management company, repairs and maintenance, depreciation, property taxes and other related administrative costs. Utility expenses are paid directly by tenants.

Income Taxes Deferred income tax assets and liabilities are determined based on the estimated future tax effects of net operating loss and credit carry-forwards and temporary differences between the tax basis of assets and liabilities and their respective financial reporting amounts measured at the current enacted tax rates. The differences relate primarily to net operating loss carryforward from date of acquisition and to the use of the cash basis of accounting for income tax purposes. The Company records an estimated valuation allowance on its deferred income tax assets if it is more likely than not that these deferred income tax assets will not be realized. The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company has not recorded any unrecognized tax benefits. The Company’s tax returns for 2024, 2023 and 2022 remain open to examination. The Company’s federal income tax return for the year ended December 31, 2023 is currently under examination by the Internal Revenue Service.

Segments The Company has one reportable segment, real estate, which includes its land development projects and rental business. The Company’s chief operating decision makers (the “CODMs”) are the Co-Chief Executive Officers, who review and assess the performance of the Company as a whole. The CODMs primarily use net income (loss) and operating income (loss) to evaluate performance and allocate resources, and these measures are prepared on the same basis as in the Company’s Consolidated Statements of Operations. The CODMs use these measures in assessing ongoing operations and in the Company’s internal planning and forecasting processes. Segment expenses and other items are provided to the CODMs on the same basis as presented in the Consolidated Statements of Operations, and the CODMs do not use information on segment assets in evaluating performance or allocating resources.

Recent Accounting Pronouncements In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The amendment in the ASU is intended to enhance the transparency and decision usefulness of income tax disclosures. The ASU’s amendments are effective for annual periods beginning after December 15, 2024. The Company adopted ASU 2023-09 for the year ended December 31, 2025. The adoption of this ASU did not have a material impact on our consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03 (“ASU 2024-03”), Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to improve disclosures about a public business entity’s expenses, primarily through additional disaggregation of income statement expenses. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The amendments in ASU 2024-03 should be applied either prospectively to financial statements issued for reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the ASU to determine the impact on the Company’s disclosures.

2. CONCENTRATION OF CREDIT RISK The Group maintains cash balances at various financial institutions, and such deposits are insured by the Federal Deposit Insurance Corporation up to applicable limits. At times, including at December 31, 2025 and 2024, cash balances may have exceeded these insured limits.

3. NOTES PAYABLE M&T Bank Loan On April 17, 2019, SeD Maryland Development LLC (“SeD Maryland”) entered into a Development Loan Agreement with Manufacturers and Traders Trust Company (“M&T Bank”) in the principal amount not to exceed at any one time outstanding the sum of $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20190417__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__dei--LegalEntityAxis__custom--SedMarylandDevelopmentLlcMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_zMtd7kw4OYA3" title="Debt principal amount">8,000,000, with a cumulative loan advance amount of $<span id="xdx_90A_eus-gaap--LongtermFederalHomeLoanBankAdvancesNoncurrent_iI_pp0p0_c20190417__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__dei--LegalEntityAxis__custom--SedMarylandDevelopmentLlcMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_z1MYFLaBUJQ4" title="Cumulative loan advance amount">18,500,000. The line of credit bore interest rate of <span id="xdx_909_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20190416__20190417__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__dei--LegalEntityAxis__custom--SedMarylandDevelopmentLlcMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_zQOBHIR7Y5X3" title="Line of credit bore interest rate, description">LIBOR plus 375 basis points. SeD Maryland was also provided with a Letter of Credit (“L/C”) Facility in an aggregate amount of up to $<span id="xdx_90A_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pp0p0_c20190417__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__dei--LegalEntityAxis__custom--SedMarylandDevelopmentLlcMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--LetterOfCreditMember_zbwulkDsbIN1" title="Letter of credit aggregate amount">900,000. The L/C commission is <span id="xdx_900_eus-gaap--LineOfCreditFacilityInterestRateDuringPeriod_pid_dp_uPure_c20190416__20190417__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__dei--LegalEntityAxis__custom--SedMarylandDevelopmentLlcMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--LetterOfCreditMember_zy2yl0hKViC2" title="Line of credit facility interest rate">1.5% per annum on the face amount of the L/C. Other standard lender fees apply in the event L/C is drawn down. The loan was a revolving line of credit. The L/C Facility was not a revolving loan, and amounts advanced and repaid could not be re-borrowed. Repayment of the Loan Agreement was secured by $<span id="xdx_909_eus-gaap--InterestBearingDomesticDepositMoneyMarket_iI_pp0p0_c20190417__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__dei--LegalEntityAxis__custom--SedMarylandDevelopmentLlcMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_z1xHEQVcjVRl" title="Repayment of the loan">2,600,000 collateral fund and a Deed of Trust issued to the Lender on the property owned by SeD Maryland. The loan has expired during 2022 and only L/C is outstanding as of December 31, 2024. On March 15, 2022 approximately $<span id="xdx_90A_eus-gaap--PaymentsForProceedsFromDepositOnLoan_c20220315__20220315__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__dei--LegalEntityAxis__custom--SedMarylandDevelopmentLlcMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_zvuEHccJUnP1" title="Collateral amount">2,300,000 was released from collateral, and on December 14, 2023 approximately $<span id="xdx_907_eus-gaap--PaymentsForProceedsFromDepositOnLoan_c20231214__20231214__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__dei--LegalEntityAxis__custom--SedMarylandDevelopmentLlcMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember_z9IpCgvVFB2k" title="Collateral amount">200,000 was released from collateral, leaving $<span id="xdx_902_eus-gaap--LineOfCredit_iI_pp0p0_c20251231__us-gaap--DebtInstrumentAxis__custom--MAndTBankLoansMember__dei--LegalEntityAxis__custom--SedMarylandDevelopmentLlcMember__us-gaap--TypeOfArrangementAxis__custom--DevelopmentLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--LetterOfCreditMember_zPEIrgDdKe0h" title="Collateral amount outstanding">107,874 as collateral for outstanding letters of credit as of December 31, 2024. Following the completion of the distribution of shares of Alset Real Estate Holdings Inc. in 2025, the collateral referenced above is no longer held by the Company.

8000000

18500000

LIBOR plus 375 basis points

900000

0.015

2600000

2300000

200000

107874

4. RELATED PARTY TRANSACTIONS Loan from SeD Home Limited (now known as Alset Solar Limited) Alset EHome receives advances from SeD Home Limited (now known as Alset Solar Limited; a subsidiary of Alset International), to fund development and operation costs. The advances bear interest at <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__dei--LegalEntityAxis__custom--AlsetEHomeIncMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SedHomeLimitedMember_zFgdMV85Ngq4" title="Interest rate">10% and are payable on demand. As of December 31, 2024, Alset EHome had outstanding principal due of $<span id="xdx_908_eus-gaap--OtherLiabilities_iI_c20241231__dei--LegalEntityAxis__custom--AlsetEHomeIncMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SedHomeLimitedMember_z4e6YZq0r5Be" title="Due to related party">0 and accrued interest of $<span id="xdx_903_eus-gaap--InterestPayableCurrent_iI_c20241231__dei--LegalEntityAxis__custom--AlsetEHomeIncMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SedHomeLimitedMember_zGe352js05ue" title="Accrued interest">0. On October 22, 2024 the Company was forgiven the outstanding interest of $228,557. A gain was recorded in equity as a result of the loan’s extinguishment. Loan to/from SeD Intelligent Home Inc. The Company receives advances from or loans funds to SeD Intelligent Home, the owner of <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SedIntelligentHomeIncMember_zQozZJV1cMob" title="Ownership percentage">99.99% of the Company. The advances or the loans bore interest of <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SedIntelligentHomeIncMember_zFytVu8Ax0G9" title="Interest rate">18% until August 30, 2017 when the interest rate was adjusted to <span id="xdx_90A_ecustom--DebtInstrumentInterestRateAdjustedPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SedIntelligentHomeIncMember_zFUR4ywOpYFk" title="Debt instrument interest rate adjusted percentage">5% and have no set repayment terms. During the year ended December 31, 2025, the Company received repayment of $2,030,000 from SeD Intelligent Home. On December 31, 2024, SeD Intelligent Home owed $<span id="xdx_903_eus-gaap--OtherLiabilities_iI_pp0p0_c20241231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SedIntelligentHomeIncMember_zYzY7HZkz414" title="Due to related party">12,192,866 to the Company. During the year ended December 31, 2024, the Company lent $<span id="xdx_90B_eus-gaap--OriginationOfNotesReceivableFromRelatedParties_pp0p0_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SedIntelligentHomeIncMember_ze7vrjoaMWc9" title="Promissory note receivable related party">15,998,308 to SeD Intelligent Home and received repayment of $<span id="xdx_90E_eus-gaap--RepaymentOfNotesReceivableFromRelatedParties_pp0p0_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SedIntelligentHomeIncMember_zDeM5Ldu1VL4" title="Repayment from promissory note receivable related party">3,161,212 in the same period. Additionally, the Company borrowed $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOfDebt_pp0p0_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SedIntelligentHomeIncMember_zOIA6hoevNf5" title="Borrowed amount">3,780,000 and repaid $<span id="xdx_90D_eus-gaap--DebtInstrumentRepaidPrincipal_pp0p0_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SedIntelligentHomeIncMember_zt6G0iBGelGl" title="Repaid amount">3,780,000 of the loans from SeD Intelligent Home in the year ended December 31, 2024. The accrued interest of $<span id="xdx_900_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SedIntelligentHomeIncMember_zylZjbOX6167" title="Accrued interest">1,207,408 was offset against interest payable in the Company’s Balance Sheet at December 31, 2024. The Company netted the payable and receivable accounts with SeD Intelligent Home Inc. for its presentation in the Balance Sheet. <p id="xdx_898_eus-gaap--ScheduleOfDebtTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SedIntelligentHomeLoanMember_zfG4UetKUWK8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify">Below table presents the changes in the loan balances during years ended December 31, 2025 and 2024. SCHEDULE OF CHANGES IN LOAN BALANCES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left">SeD Intelligent Home Loan</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest rate</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Due date</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2024</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Addition</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest Receivable Offset</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Special Distribution</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2025</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 19%; text-align: justify; padding-bottom: 1pt">Principle</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; width: 8%; text-align: right">5.00</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: justify; padding-bottom: 1pt"><span id="xdx_902_eus-gaap--DebtInstrumentMaturityDateDescription_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zBiCI6EDgJDg" title="Principle - Due date">On demand</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z0ZFSJh48VNc" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 10%; text-align: right" title="Principle - beginning balance">13,400,274</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_987_ecustom--DebtInstrumentPrincipleValueAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zqfOgFEUGtwi" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 10%; text-align: right" title="Principle - Addition">(2,030,000</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 9%; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98B_ecustom--DebtInstrumentPrincipleValueSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zLeqnZ2gmKt4" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 9%; text-align: right" title="Principle - Special distribution">(11,370,274</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DebtInstrumentFaceAmount_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zTeV8Z9QKhx5" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 9%; text-align: right" title="Due to related party - Ending"> -</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Interest Payable</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_eus-gaap--InterestPayableCurrent_iNS_di_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z87qVUa7vTGk" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - beginning balance">(1,207,408</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_981_ecustom--DebtInstrumentInterestPayableAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zgancYHeXvm3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Addition">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_984_ecustom--InterestPayableReceivablesOffset_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z9YW2alNzLqf" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Interest receivable offset">387,573</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_983_ecustom--DebtInstrumentInterestPayableValueSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zSfh2SiJjfa5" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Special distribution">819,835</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_981_eus-gaap--InterestPayableCurrent_iNE_di_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zJde9qqY8iwe" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Due to related party - Ending">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_987_eus-gaap--OtherLiabilities_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zv2J3maW83s2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Due to related party - beginning balance">12,192,866</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_983_ecustom--DebtInstrumentPrincipleAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z9ZHU3rfN5ge" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Tota lAddition">(2,030,000</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_989_ecustom--InterestReceivablesOffset_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zes0uDvv4F3l" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Total interest receivable offset">387,573</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_981_ecustom--DebtInstrumentPrincipleAndInterestPayableSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zWcECby7Ueyl" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Total special distribution">(10,550,439</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98C_eus-gaap--OtherLiabilities_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zqMq8RAiQlBj" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Due to related party - Ending">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest rate</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Due date</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2023</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Addition</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest Receivable Offset</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2024</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 15%; text-align: justify; padding-bottom: 1pt">Principle</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right">5.00</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 14%; text-align: center; padding-bottom: 1pt"><span id="xdx_903_eus-gaap--DebtInstrumentMaturityDateDescription_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z6ElENLy5TEd" title="Principle - Due date">On demand</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zu3ws7B5T0Re" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 11%; text-align: right" title="Principle - beginning balance">541,966</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98E_ecustom--DebtInstrumentPrincipleValueAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zJDgM3IeJqgl" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 11%; text-align: right" title="Principle - Addition">12,858,308</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 11%; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--DebtInstrumentFaceAmount_iE_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zyHuo7CLPlq1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 11%; text-align: right" title="Due to related party - Ending balance">13,400,274</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Interest Payable</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98A_eus-gaap--InterestPayableCurrent_iNS_di_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zbDog7A15vf2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - beginning balance">(1,410,267</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_982_ecustom--DebtInstrumentInterestPayableAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zzCRrnDUXyX1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Addition">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_ecustom--InterestPayableReceivablesOffset_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z5aGfWh5Ife2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Interest receivable offset">202,860</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98D_eus-gaap--InterestPayableCurrent_iNE_di_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zeOD2NETXoB3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable Ending balance">(1,207,408</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_984_eus-gaap--OtherLiabilities_iNS_di_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zXoWtgEdfeP1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Due to related party - ending">(868,301</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_982_ecustom--DebtInstrumentPrincipleAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zxmFoL7j9nil" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Tota lAddition">12,858,308</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_982_ecustom--InterestReceivablesOffset_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zFOq5vgYzwz2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Total interest receivable offset">202,860</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_982_eus-gaap--OtherLiabilities_iE_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zkHltAjLT1ek" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Due to related party - Ending balance">12,192,866</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> </table> Management Fees MacKenzie Equity Partners, LLC, an entity owned by Charles MacKenzie, a Director of the Company, has a consulting agreement with a majority-owned subsidiary of the Company. Pursuant to an agreement entered into in June of 2022, as supplemented in August 2023, the Company’s subsidiary pays $<span id="xdx_90A_eus-gaap--ProfessionalFees_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MacKenzieEquityPartnersLLCMember__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zW67Q1XPi3P9" title="Consulting service">25,000 per month to MacKenzie Equity Partners, LLC for consulting services. In addition, <span id="xdx_90E_eus-gaap--RelatedPartyTransactionDescriptionOfTransaction_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MacKenzieEquityPartnersLLCMember__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_z5kkbCl7y16c" title="Related party transaction, description">MacKenzie Equity Partners, LLC has been paid certain bonuses, including a sum of $60,000 in June 2024 and $75,000 in May 2025. The Company incurred expenses of $<span id="xdx_90E_eus-gaap--ManagementFeeExpense_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MacKenzieEquityPartnersLLCMember__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_z9z82a9vjntf" title="Management fees">250,000 and $<span id="xdx_90A_eus-gaap--ManagementFeeExpense_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MacKenzieEquityPartnersLLCMember__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zNV9K1HhINch" title="Management fees">360,000 in the years ended December 31, 2025 and 2024, respectively, which in 2025 were expensed and in 2024 were capitalized as part of Real Estate on the balance sheet as the services related to property and project management. On December 31, 2025 and 2024, the Company owed this related party $<span id="xdx_900_eus-gaap--OtherLiabilities_iI_pp0p0_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MacKenzieEquityPartnersLLCMember__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zmZTRaSXA5l4" title="Due to related party">0 and $<span id="xdx_903_eus-gaap--OtherLiabilities_iI_pp0p0_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MacKenzieEquityPartnersLLCMember__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zogdb8niosj7" title="Due to related party">41,602, respectively. These amounts are included in Accounts Payable in the accompanying consolidated balance sheets. Note from Alset Inc. On January 13, 2023, the Company received a note from Alset Inc. in the amount of $<span id="xdx_90D_eus-gaap--BusinessCombinationConsiderationTransferredLiabilitiesIncurred_c20230113__20230113__us-gaap--BusinessAcquisitionAxis__custom--AmericanHomeREITIncMember__dei--LegalEntityAxis__custom--AlsetEHomeIncMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncMember_zc3yHO2woEEa" title="Promissory note consideration">11,350,933 in relation to the sale of its rental business in 2023. The note carries interest rate of <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20230113__us-gaap--BusinessAcquisitionAxis__custom--AmericanHomeREITIncMember__dei--LegalEntityAxis__custom--AlsetEHomeIncMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncMember_zKctY6ZRuMeh" title="Promissory note interest rate">7.2% and matures on <span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20230113__20230113__us-gaap--BusinessAcquisitionAxis__custom--AmericanHomeREITIncMember__dei--LegalEntityAxis__custom--AlsetEHomeIncMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncMember_zvHlR9XlbGR5" title="Maturity date">January 13, 2028. The Company accrued $1,607,665 interest on note receivable from Alset Inc. as of and December 31, 2024. During the years ended December 31, 2025 and 2024, we recognized interest income of $508,273 and $819,506, respectively. Alset Inc. owns<span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlsetIncMember_zjcjZ02pO4Tl" title="Ownership percentage"> 85.8% of Alset International Limited, and Alset International Limited indirectly owns approximately <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20251231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AlsetInternationalMember_znv996HhMCA6" title="Ownership percentage">99.9% of the Company. Certain members of the Company’s Board of Directors and management are also members of the Board of Directors and management of each Alset International Limited and Alset Inc. Chan Heng Fai, the Chairman, Chief Executive Officer and majority stockholder of Alset Inc., is also the Chairman and Chief Executive Officer of both the Company and Alset International Limited; Chan Tung Moe is the Co-Chief Executive Officer and a member of the Board of Directors of Alset Inc., Alset International Limited and the Company; and Charles MacKenzie, a member of the Board of Directors of the Company, is also an officer of Alset Inc. <p id="xdx_894_eus-gaap--ScheduleOfDebtTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_z6qWIUzNXFW8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify">Below table presents the changes in the loan balances during years ended December 31, 2025 and 2024. SCHEDULE OF CHANGES IN LOAN BALANCES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left">Alset Inc. Loan</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest rate</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Due date</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2024</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Addition</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Special Distribution</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2025</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: justify; padding-bottom: 1pt">Principle</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_z9RjZFQqDfQh" title="Principle - interest rate">7.20</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 17%; text-align: center; padding-bottom: 1pt">1/13/2028</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DebtInstrumentFaceAmount_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zcBUhy39jQB3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Beginning balance">11,350,933</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_984_ecustom--DebtInstrumentPrincipleValueAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zlC8DPnddJ8l" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Addition">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98A_ecustom--DebtInstrumentValuePrincipleSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zjS2EYulZFW8" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Special distribution">(11,350,933</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zgXcVtsQ2a67" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Ending balance"> -</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Interest Receivable</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98B_eus-gaap--InterestReceivable_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zLHWnU5wdJO1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Beginning balance">1,607,665</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_984_ecustom--DebtInstrumentInterestPayableAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_ztCMn9Dknx77" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Addition">508,273</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_981_ecustom--InterestReceivableSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_z93uf9Ko8r0h" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Special distribution">(2,115,938</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98A_eus-gaap--InterestReceivable_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zvnyKex2SHhb" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Ending balance">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_987_eus-gaap--OtherLiabilities_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zxavQ5SosJQf" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Beginning balance">12,958,598</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_989_ecustom--DebtInstrumentPrincipleAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zuKcBRPZEIIj" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Tota lAddition">508,273</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_984_ecustom--DebtInstrumentPrincipleAndInterestReceivableSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zRcbnbPz3UAk" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Special distribution">(13,466,871</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_983_eus-gaap--OtherLiabilities_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zLHNTETa7Ct3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Ending balance">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest rate</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Due date</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2023</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Addition</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2024</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 28%; text-align: justify; padding-bottom: 1pt">Principle</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zDBHy1QLKpbd" title="Principle - Interest rate">7.20</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: center; padding-bottom: 1pt">1/13/2028</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--DebtInstrumentFaceAmount_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zzNlo57jfive" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Beginning balance">11,350,933</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_988_ecustom--DebtInstrumentPrincipleValueAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zQSoNUeFHfwl" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Addition">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--DebtInstrumentFaceAmount_iE_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zxnl0efLtTJf" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Ending balance">11,350,933</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Interest Receivable</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98D_eus-gaap--InterestReceivable_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zMbehAzaKG4j" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Beginning balance">788,159</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_989_ecustom--DebtInstrumentInterestPayableAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zcuAJG9Kh2O4" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Addition">819,506</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98D_eus-gaap--InterestReceivable_iE_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zm14A1NbT9h3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Ending balance">1,607,665</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_987_eus-gaap--OtherLiabilities_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zBizattbzpdh" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Beginning balance">12,139,092</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_ecustom--DebtInstrumentPrincipleAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zc6rLwioAbb" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Tota lAddition">819,506</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_eus-gaap--OtherLiabilities_iE_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zcTCJQQQRml2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Ending balance">12,958,598</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> </table>

0.10

228557

0.9999

0.18

0.05

2030000

12192866

15998308

3161212

3780000

1207408

<p id="xdx_898_eus-gaap--ScheduleOfDebtTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SedIntelligentHomeLoanMember_zfG4UetKUWK8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify">Below table presents the changes in the loan balances during years ended December 31, 2025 and 2024. SCHEDULE OF CHANGES IN LOAN BALANCES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left">SeD Intelligent Home Loan</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest rate</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Due date</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2024</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Addition</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest Receivable Offset</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Special Distribution</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2025</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 19%; text-align: justify; padding-bottom: 1pt">Principle</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; width: 8%; text-align: right">5.00</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: justify; padding-bottom: 1pt"><span id="xdx_902_eus-gaap--DebtInstrumentMaturityDateDescription_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zBiCI6EDgJDg" title="Principle - Due date">On demand</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--DebtInstrumentFaceAmount_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z0ZFSJh48VNc" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 10%; text-align: right" title="Principle - beginning balance">13,400,274</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_987_ecustom--DebtInstrumentPrincipleValueAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zqfOgFEUGtwi" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 10%; text-align: right" title="Principle - Addition">(2,030,000</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 9%; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98B_ecustom--DebtInstrumentPrincipleValueSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zLeqnZ2gmKt4" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 9%; text-align: right" title="Principle - Special distribution">(11,370,274</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DebtInstrumentFaceAmount_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zTeV8Z9QKhx5" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 9%; text-align: right" title="Due to related party - Ending"> -</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Interest Payable</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_eus-gaap--InterestPayableCurrent_iNS_di_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z87qVUa7vTGk" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - beginning balance">(1,207,408</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_981_ecustom--DebtInstrumentInterestPayableAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zgancYHeXvm3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Addition">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_984_ecustom--InterestPayableReceivablesOffset_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z9YW2alNzLqf" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Interest receivable offset">387,573</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_983_ecustom--DebtInstrumentInterestPayableValueSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zSfh2SiJjfa5" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Special distribution">819,835</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_981_eus-gaap--InterestPayableCurrent_iNE_di_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zJde9qqY8iwe" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Due to related party - Ending">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_987_eus-gaap--OtherLiabilities_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zv2J3maW83s2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Due to related party - beginning balance">12,192,866</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_983_ecustom--DebtInstrumentPrincipleAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z9ZHU3rfN5ge" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Tota lAddition">(2,030,000</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_989_ecustom--InterestReceivablesOffset_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zes0uDvv4F3l" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Total interest receivable offset">387,573</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_981_ecustom--DebtInstrumentPrincipleAndInterestPayableSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zWcECby7Ueyl" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Total special distribution">(10,550,439</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98C_eus-gaap--OtherLiabilities_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zqMq8RAiQlBj" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Due to related party - Ending">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest rate</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Due date</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2023</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Addition</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest Receivable Offset</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2024</td><td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 15%; text-align: justify; padding-bottom: 1pt">Principle</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right">5.00</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 14%; text-align: center; padding-bottom: 1pt"><span id="xdx_903_eus-gaap--DebtInstrumentMaturityDateDescription_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z6ElENLy5TEd" title="Principle - Due date">On demand</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zu3ws7B5T0Re" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 11%; text-align: right" title="Principle - beginning balance">541,966</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98E_ecustom--DebtInstrumentPrincipleValueAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zJDgM3IeJqgl" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 11%; text-align: right" title="Principle - Addition">12,858,308</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 11%; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--DebtInstrumentFaceAmount_iE_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zyHuo7CLPlq1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 11%; text-align: right" title="Due to related party - Ending balance">13,400,274</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Interest Payable</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98A_eus-gaap--InterestPayableCurrent_iNS_di_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zbDog7A15vf2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - beginning balance">(1,410,267</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_982_ecustom--DebtInstrumentInterestPayableAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zzCRrnDUXyX1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Addition">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_ecustom--InterestPayableReceivablesOffset_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_z5aGfWh5Ife2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Interest receivable offset">202,860</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98D_eus-gaap--InterestPayableCurrent_iNE_di_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zeOD2NETXoB3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable Ending balance">(1,207,408</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_984_eus-gaap--OtherLiabilities_iNS_di_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zXoWtgEdfeP1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Due to related party - ending">(868,301</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_982_ecustom--DebtInstrumentPrincipleAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zxmFoL7j9nil" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Tota lAddition">12,858,308</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_982_ecustom--InterestReceivablesOffset_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zFOq5vgYzwz2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Total interest receivable offset">202,860</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_982_eus-gaap--OtherLiabilities_iE_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SeDIntelligentHomeLoanMember_zkHltAjLT1ek" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Due to related party - Ending balance">12,192,866</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> </table>

0.0500

On demand

13400274

-2030000 -11370274

1207408

387573 819835

12192866

-2030000 387573 -10550439

0.0500

On demand

541966

12858308

13400274

1410267

202860

1207408

868301

12858308 202860

12192866

25000

MacKenzie Equity Partners, LLC has been paid certain bonuses, including a sum of $60,000 in June 2024 and $75,000 in May 2025

250000

360000

41602

11350933

0.072

2028-01-13

1607665

508273

819506

0.858

0.999

<p id="xdx_894_eus-gaap--ScheduleOfDebtTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_z6qWIUzNXFW8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify">Below table presents the changes in the loan balances during years ended December 31, 2025 and 2024. SCHEDULE OF CHANGES IN LOAN BALANCES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left">Alset Inc. Loan</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest rate</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Due date</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2024</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Addition</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Special Distribution</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2025</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: justify; padding-bottom: 1pt">Principle</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; width: 10%; text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_z9RjZFQqDfQh" title="Principle - interest rate">7.20</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 17%; text-align: center; padding-bottom: 1pt">1/13/2028</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DebtInstrumentFaceAmount_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zcBUhy39jQB3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Beginning balance">11,350,933</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_984_ecustom--DebtInstrumentPrincipleValueAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zlC8DPnddJ8l" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Addition">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98A_ecustom--DebtInstrumentValuePrincipleSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zjS2EYulZFW8" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Special distribution">(11,350,933</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zgXcVtsQ2a67" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Ending balance"> -</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Interest Receivable</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98B_eus-gaap--InterestReceivable_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zLHWnU5wdJO1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Beginning balance">1,607,665</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_984_ecustom--DebtInstrumentInterestPayableAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_ztCMn9Dknx77" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Addition">508,273</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_981_ecustom--InterestReceivableSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_z93uf9Ko8r0h" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Special distribution">(2,115,938</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98A_eus-gaap--InterestReceivable_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zvnyKex2SHhb" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Ending balance">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_987_eus-gaap--OtherLiabilities_iS_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zxavQ5SosJQf" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Beginning balance">12,958,598</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_989_ecustom--DebtInstrumentPrincipleAddition_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zuKcBRPZEIIj" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Tota lAddition">508,273</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_984_ecustom--DebtInstrumentPrincipleAndInterestReceivableSpecialDistribution_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zRcbnbPz3UAk" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Special distribution">(13,466,871</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_983_eus-gaap--OtherLiabilities_iE_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zLHNTETa7Ct3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Ending balance">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Interest rate</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Due date</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2023</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Addition</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">12/31/2024</td><td style="text-align: center; font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 28%; text-align: justify; padding-bottom: 1pt">Principle</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zDBHy1QLKpbd" title="Principle - Interest rate">7.20</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: center; padding-bottom: 1pt">1/13/2028</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--DebtInstrumentFaceAmount_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zzNlo57jfive" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Beginning balance">11,350,933</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_988_ecustom--DebtInstrumentPrincipleValueAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zQSoNUeFHfwl" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Addition">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--DebtInstrumentFaceAmount_iE_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zxnl0efLtTJf" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; width: 12%; text-align: right" title="Principle - Ending balance">11,350,933</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Interest Receivable</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98D_eus-gaap--InterestReceivable_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zMbehAzaKG4j" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Beginning balance">788,159</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_989_ecustom--DebtInstrumentInterestPayableAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zcuAJG9Kh2O4" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Interest Payable - Addition">819,506</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_98D_eus-gaap--InterestReceivable_iE_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zm14A1NbT9h3" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Ending balance">1,607,665</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_987_eus-gaap--OtherLiabilities_iS_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zBizattbzpdh" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Beginning balance">12,139,092</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_ecustom--DebtInstrumentPrincipleAddition_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zc6rLwioAbb" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Tota lAddition">819,506</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td id="xdx_986_eus-gaap--OtherLiabilities_iE_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AlsetIncLoanMember_zcTCJQQQRml2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right" title="Principle - Ending balance">12,958,598</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> </table>

0.0720

2028-01-13

11350933

-11350933

1607665

508273 -2115938

12958598

508273 -13466871

0.0720

2028-01-13

11350933

788159

819506

1607665

12139092

819506

12958598

5. SHAREHOLDERS’ EQUITY As of December 31, 2025 and 2024, there were 704,043,324 shares of the registrant’s common stock $0.001 par value per share, issued and outstanding. On July 10, 2025 the Company’s stockholders approved by written consent an amendment to the Company’s Articles of Incorporation to increase the number of authorized shares of voting common stock from 1,000,000,000 shares to 5,000,000,000 shares. The increase in the number of authorized shares of common stock was effected pursuant to a Certificate of Amendment to the Company’s Articles of Incorporation filed with the Secretary of State of the State of Nevada on August 20, 2025 and was effective as of such date.

704043324

0.001

1000000000

5000000000

6. COMMITMENTS AND CONTINGENCIES Leases The Company, before the special distribution, leased office space in Maryland. The monthly rental payments in 2025 range from $6,520 to $6,700. Rent expense was $42,335 and $71,773 for the years ended December 31, 2025 and 2024, respectively. Total cash paid for operating leases was $39,662 and $70,071 for the years ended December 31, 2025 and 2024, respectively. The balance of the operating lease right-of-use asset and operating lease liability as of December 31, 2024 was $134,155 and $138,775, respectively. The lease was maintained by the Company’s subsidiary that was distributed to shareholders as part of the special distribution in August 2025. Following the distribution, the Company no longer has any active lease agreements.

6520

6700

42335

71773

39662

70071

134155

138775

7. CUSTOMERS CONTRACTS On March 17, 2023, 150 CCM Black Oak Ltd. (“Black Oak”) entered into a Purchase and Sale Agreement (the “Davidson Agreement”) with Davidson Homes, LLC, an Alabama limited liability company. Pursuant to the terms of the Davidson Agreement, Black Oak agreed to sell approximately 189 single-family detached residential lots developed within section 2 of Lakes at Black Oak project. The sale of the first 94 lots closed on May 30, 2023. The sale of remaining lots closed on January 4, 2024. On November 13, 2023, the Company entered into two Contracts for Purchase and Sale and Escrow Instructions (each an “Agreement,” collectively, the “Agreements”) with Century Land Holdings of Texas, LLC, a Colorado limited liability company (the “Buyer”). Pursuant to the terms of one of the aforementioned Agreements, the Seller agreed to sell approximately 142 single-family detached residential lots comprising a section of a residential community in the Lakes at Black Oak. Pursuant to the other Agreement, the Seller agreed to sell 63 single-family detached residential lots in the city of Magnolia, Texas. In 2021, our subsidiary Alset EHome Inc. acquired approximately 19.5 acres of partially developed land near Houston, Texas which was used to develop a community named Alset Villas. Alset EHome was in the process of developing the 63 lots at Alset Villas in 2023. The closing of the transactions described above depended on the satisfaction of certain conditions. On July 1, 2024, the Seller closed the sale of 70 of the lots contemplated by that certain Agreement, generating approximately $3.8 million. The sale of the remaining 72 lots at Lakes at Black Oak closed on October 10, 2024 generating approximately $3.9 million. The sale of 63 lots at Alset Villas closed on December 16, 2024 generating approximately $3.8 million. 63

19.5

63 70

3800000

3900000

3800000

8. INCOME TAXES The components of income tax expense and the effective tax rates for the years ended December 31, 2025 and 2024 are as follows: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20251231_zPUOYJK2GGFe" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20241231_zblWZ0CJ0uI9" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2024</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zMSdNWqxTLjj" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif">Current:</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_401_eus-gaap--CurrentFederalTaxExpenseBenefit_maCITEBzHye_zSJpCaJWceQ5" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; width: 60%">Federal</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">150,786</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_maCITEBzHye_zfz8WsZozuc4" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt">State</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CurrentIncomeTaxExpenseBenefit_iT_mtCITEBzHye_maITEBzrKh_z3PKmjiOdyv7" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Total Current</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">150,786</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zBawqhowf60i" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif">Deferred:</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_maDITEBzTRk_zOaAF9l99cW5" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Federal</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">1,862,884</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_maDITEBzTRk_zZPCYrLHe3u7" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt">State</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">342,691</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredIncomeTaxExpenseBenefit_iT_mtDITEBzTRk_maITEBzrKh_zQieELNhLUXi" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Total Deferred</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2,205,575</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzrKh_zRBLPG0ErdSk" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Valuation Allowance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">(2,205,575</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_ecustom--IncomeTaxExpense_iT_mtITEBzrKh_zQPvIaMbt4J8" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total Income Tax Expense</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">150,786</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--IncomeLossFromOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zOHfWl8SmZk8" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Pre-tax Income (Loss)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">(1,008,421</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">) </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">6,824,513</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_zsLh7KtSL373" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Effective Income Tax Rate</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2.2</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> </table> A reconciliation of our income tax expense at federal statutory income tax rate of 21.0% to our income tax expense at the effective tax rate is as follows: SCHEDULE OF RECONCILIATION OF INCOME TAX EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231_zp9VzSZD3E7i" style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240101__20241231_zj1ORKGPre6" style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2024</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_ma1_zWW8UZ4Vw97" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 60%; text-align: left">Tax at the Statutory Federal Rate</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">21.0</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">21.0</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr id="xdx_40D_ecustom--EffectiveIncomeTaxRateReconciliationCapitalizedConstructionCostsTaxRate_pid_dp_ma1_z7j1OhLYHP2b" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Capitalized Construction Costs</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-1.8</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr id="xdx_40C_ecustom--DeferredFinanceCost_dp_uPure_ma1_zfEMB8wi8Bea" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Deferred Finance Cost</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">0.3</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr id="xdx_40B_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_uPure_ma1_zPJv2urdBSk9" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Valuation Allowance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-21.0 </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-17.4</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_dp_mt1_z14x9anB0GE3" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Effective Income Tax Rate</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">2.2</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> Deferred tax assets (liabilities) consist of the following at December 31, 2025 and 2024: SCHEDULE OF DEFERRED TAX ASSETS (LIABILITIES) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231_zLq2CjWq9xo" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231_zZpb4qm83cya" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2024</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Deferred tax assets:</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsInterestExpense_iI_pp0p0_maDTALNzQI0_zdM7OhiJ2PLe" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; width: 60%; text-align: left">Accrued Interest Expense</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">6,560,893</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_pp0p0_maDTALNzQI0_zXTRkY8PzyGc" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accrued Expense</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">8,895</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther_iI_pp0p0_maDTALNzQI0_zWOJ6bS2imte" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accrued Other Income</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">1,596,154</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxLiabilitiesPartnershipGainLoss_iI_pp0p0_maDTALNzQI0_zBJ4KYMGugec" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Partnership Gain</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">13,175</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--DeferredTaxLiabilitiesRealEstateImpairment_iI_pp0p0_maDTALNzQI0_zI64kUNRxXZ4" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Real Estate Impairment</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">114,432</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTALNzQI0_za4Io3vygoA7" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif">Others</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">52,139</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DeferredTaxAssetsNetOperatingLoss_pp0p0_maDTALNzQI0_z3IjmeoBHKN5" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Net Operating Loss</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">576,999</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pp0p0_maDTAGzHCa_mtDTALNzQI0_z1eAG7ml7Glh" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total deferred tax assets:</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">8,922,687</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Deferred tax liabilities:</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DeferredTaxAccruedInterestIncome_iNI_di_maDITLzMiU_zjpktCqa69p1" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accrued Interest Income</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">(7,752,103</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_401_ecustom--DeferredTaxAccumulatedDepreciationAndAmortization_iNI_di_maDITLzMiU_zCGHY2xdfOPf" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accumulated Depreciation and Amortization</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">(204,061</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_401_ecustom--DeferredTaxCapitalizedCosts_iNI_di_maDITLzMiU_zTuDDzcUimwl" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Capitalized Costs</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">(2,185,216</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">) </td></tr> <tr id="xdx_408_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_di_mtDITLzMiU_msDTAGzHCa_zDYTNj8XJ865" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total deferred tax liabilities:</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">(10,141,380</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DeferredTaxAssetsLiabilitiesGross_iTI_pp0p0_maDTANzWuf_mtDTAGzHCa_zaD2iwVCzKob" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Deferred Tax Assets / (Liabilities), net</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">(1,218,693</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">) </td></tr> <tr id="xdx_401_ecustom--ValuationAllowance_iNI_pp0p0_di_msDTANzWuf_zD9CCpfQLNSh" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less valuation allowance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">1,218,693</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzWuf_zhNNbXbnoPwd" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Deferred Tax Asset c/f</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> We are subject to U.S. federal income tax as well as income tax of certain state jurisdictions. We have substantially concluded all U.S. federal income tax and state tax matters through 2021. However, our federal tax returns for the years 2022 through 2024 remain open to examination. The Company’s federal income tax return for the year ended December 31, 2023 is currently under examination by the Internal Revenue Service. State tax jurisdiction tax years remain open to examination as well, though we believe that any additional assessment would be immaterial to the Consolidated Financial Statements.

The components of income tax expense and the effective tax rates for the years ended December 31, 2025 and 2024 are as follows: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20251231_zPUOYJK2GGFe" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240101__20241231_zblWZ0CJ0uI9" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2024</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zMSdNWqxTLjj" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif">Current:</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td colspan="2" style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_401_eus-gaap--CurrentFederalTaxExpenseBenefit_maCITEBzHye_zSJpCaJWceQ5" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; width: 60%">Federal</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">150,786</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_maCITEBzHye_zfz8WsZozuc4" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt">State</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CurrentIncomeTaxExpenseBenefit_iT_mtCITEBzHye_maITEBzrKh_z3PKmjiOdyv7" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Total Current</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">150,786</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zBawqhowf60i" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif">Deferred:</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_maDITEBzTRk_zOaAF9l99cW5" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif">Federal</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">1,862,884</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_maDITEBzTRk_zZPCYrLHe3u7" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt">State</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">342,691</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredIncomeTaxExpenseBenefit_iT_mtDITEBzTRk_maITEBzrKh_zQieELNhLUXi" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Total Deferred</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2,205,575</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzrKh_zRBLPG0ErdSk" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Valuation Allowance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">(2,205,575</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_ecustom--IncomeTaxExpense_iT_mtITEBzrKh_zQPvIaMbt4J8" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total Income Tax Expense</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">150,786</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--IncomeLossFromOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zOHfWl8SmZk8" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Pre-tax Income (Loss)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">(1,008,421</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">) </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">6,824,513</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_zsLh7KtSL373" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Effective Income Tax Rate</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">2.2</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> </table>

150786

1862884

342691

2205575

-2205575

150786 -1008421 6824513

0.022

A reconciliation of our income tax expense at federal statutory income tax rate of 21.0% to our income tax expense at the effective tax rate is as follows: SCHEDULE OF RECONCILIATION OF INCOME TAX EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231_zp9VzSZD3E7i" style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240101__20241231_zj1ORKGPre6" style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2024</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_ma1_zWW8UZ4Vw97" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 60%; text-align: left">Tax at the Statutory Federal Rate</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">21.0</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">21.0</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">%</td></tr> <tr id="xdx_40D_ecustom--EffectiveIncomeTaxRateReconciliationCapitalizedConstructionCostsTaxRate_pid_dp_ma1_z7j1OhLYHP2b" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Capitalized Construction Costs</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-1.8</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr id="xdx_40C_ecustom--DeferredFinanceCost_dp_uPure_ma1_zfEMB8wi8Bea" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Deferred Finance Cost</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">0.3</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr id="xdx_40B_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_dp_uPure_ma1_zPJv2urdBSk9" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Valuation Allowance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-21.0 </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-17.4</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_dp_mt1_z14x9anB0GE3" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Effective Income Tax Rate</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">%</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">2.2</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">%</td></tr> </table>

0.210

-0.018 0.003

-0.210

-0.174

0.022

Deferred tax assets (liabilities) consist of the following at December 31, 2025 and 2024: SCHEDULE OF DEFERRED TAX ASSETS (LIABILITIES) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231_zLq2CjWq9xo" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241231_zZpb4qm83cya" style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2024</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Deferred tax assets:</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsInterestExpense_iI_pp0p0_maDTALNzQI0_zdM7OhiJ2PLe" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; width: 60%; text-align: left">Accrued Interest Expense</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right">6,560,893</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_pp0p0_maDTALNzQI0_zXTRkY8PzyGc" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accrued Expense</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">8,895</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther_iI_pp0p0_maDTALNzQI0_zWOJ6bS2imte" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accrued Other Income</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">1,596,154</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxLiabilitiesPartnershipGainLoss_iI_pp0p0_maDTALNzQI0_zBJ4KYMGugec" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Partnership Gain</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">13,175</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--DeferredTaxLiabilitiesRealEstateImpairment_iI_pp0p0_maDTALNzQI0_zI64kUNRxXZ4" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Real Estate Impairment</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">114,432</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOther_iI_pp0p0_maDTALNzQI0_za4Io3vygoA7" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif">Others</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">52,139</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--DeferredTaxAssetsNetOperatingLoss_pp0p0_maDTALNzQI0_z3IjmeoBHKN5" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Net Operating Loss</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">576,999</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pp0p0_maDTAGzHCa_mtDTALNzQI0_z1eAG7ml7Glh" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total deferred tax assets:</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">8,922,687</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Deferred tax liabilities:</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DeferredTaxAccruedInterestIncome_iNI_di_maDITLzMiU_zjpktCqa69p1" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accrued Interest Income</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">(7,752,103</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_401_ecustom--DeferredTaxAccumulatedDepreciationAndAmortization_iNI_di_maDITLzMiU_zCGHY2xdfOPf" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Accumulated Depreciation and Amortization</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">(204,061</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_401_ecustom--DeferredTaxCapitalizedCosts_iNI_di_maDITLzMiU_zTuDDzcUimwl" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Capitalized Costs</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">(2,185,216</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">) </td></tr> <tr id="xdx_408_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_di_mtDITLzMiU_msDTAGzHCa_zDYTNj8XJ865" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total deferred tax liabilities:</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">(10,141,380</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DeferredTaxAssetsLiabilitiesGross_iTI_pp0p0_maDTANzWuf_mtDTAGzHCa_zaD2iwVCzKob" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left">Deferred Tax Assets / (Liabilities), net</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; text-align: right">(1,218,693</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">) </td></tr> <tr id="xdx_401_ecustom--ValuationAllowance_iNI_pp0p0_di_msDTANzWuf_zD9CCpfQLNSh" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less valuation allowance</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">1,218,693</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsNet_iTI_pp0p0_mtDTANzWuf_zhNNbXbnoPwd" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Deferred Tax Asset c/f</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">-</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

6560893

8895

1596154

13175 114432

52139

576999

8922687

7752103 204061 2185216

10141380

-1218693 -1218693

9. SUBSEQUENT EVENTS The Company has evaluated events that have occurred after the balance sheet date through the date of this report and determined that there were no subsequent events or transactions that required recognition or disclosure in the consolidated financial statements.

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