STOCKHOLDERS’ EQUITY |
12 Months Ended | |||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||
| STOCKHOLDERS’ EQUITY | 15. STOCKHOLDERS’ EQUITY
Preferred stock
As of December 31, 2025 and 2024, there were preferred stocks authorized but were issued and outstanding.
Common stock
Pursuant to the resolution passed at the board meeting on January 7, 2025, the Company is authorized to increase the common stock from shares to shares.
Pursuant to the resolution passed at the board meeting on February 27, 2025, the Company is authorized to issue shares of common stock at $ per share. On March 20, 2025, the Company issued shares of common stock and received net cash proceeds of $23,000,000.
As of December 31, 2025 and 2024, there were and common stocks authorized, and shares issued and outstanding, respectively.
Share-based compensation
The Company has share-based compensation to the executive director. The share-based compensation expense is recorded in general and administrative expenses. The value of the share is $5,000 a month and the number of shares to issue is based on the average market price of the month. The Company will issue the share on half yearly basis.
As of December 31, 2025 and 2024, there were and shares issued respectively.
Warrants
On October 10, 2023, the Company entered into an underwriting agreement with Network 1 Financial Securities, Inc., as underwriter named thereof, in connection with its initial public offering (“IPO”) of 82,500 shares of common stock, par value $ per share (the “Shares”) at a price of $ per share. The Company issued Representative’s Warrants to purchase up to 5,775 shares of common stock at $ per share, dated October 13, 2023, to Network 1 Financial Securities, Inc. The warrants shall be exercisable at any time, and from time to time, in whole or in part, 180 days after October 13, 2023 (i.e. the date of issuance) and expiring on October 10, 2028.
The warrants are classified as equity instruments, the contracts are initially measured at fair value and no subsequent measurement is needed for equity instruments. The Company uses Black-Scholes Model to calculate the fair value of the warrant. As of October 13, 2023 (the “Grant Date”) the warrant was valued at $38,580 with the following assumptions.
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