v3.26.1
Loans Payable - Schedule of Short-Term Loans (Details) - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Schedule of Short-Term Loans [Line Items]    
Total short-term loans $ 3,893,399 $ 2,668,604
Factor H [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans [1] 646,978 685,172
Factor I [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans [2] 166,573 207,921
Factor J [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans [3] 38,255 28,838
Factor K [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans [4] 55,663 66,404
Factor L [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans [5] 149,170
Jie Zhang [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans [6] 100,000 100,000
Peng Zhang [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans [7] 560,000 560,000
RedOne Investment Limited (“RedOne”) [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans [8] 230,000 230,000
Agile Capital Funding, LLC [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans [9] 387,142 480,798
ClassicPlan Premium Financing, Inc [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans [10] 9,471
Maximcash Solutions LLC [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans [11] 124,248 300,000
JJ Astor & Co [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans 1,362,987
Other Loans [Member]    
Schedule of Short-Term Loans [Line Items]    
Total short-term loans $ 72,383
[1] On October 23, 2023, the Merchants entered into a standard merchant cash advance agreement with Factor H. The Company sold $768,500 of its accounts receivable balances on a recourse basis for credit approved accounts. The net purchase price of $503,500 was remitted to the Company, after the deduction of the total fees of $26,500. The Company agreed to pay a weekly installment of $22,814.84 for 32 weeks with a final extra payment of $38,500. The effective interest rate of this agreement was 85.36%. For the three and nine months ended September 30, 2024, the Company paid $181,950 and $409,443 principal of the loan. On May 2, 2024, the Merchants entered into another standard merchant cash advance agreement with Factor H. The Company sold $1,240,150 of its accounts receivable balances on a recourse basis for credit approved accounts. The net purchase price of $807,500 was remitted to the Company, after the deduction of the total fees of $42,500. The Company agreed to pay a weekly installment of $41,000 for 31 weeks. The effective interest rate of this agreement was 93.05%. The Company use this loan to pay off $175,314 previous loan with Factor H that dated on October 23, 2023. For the three and nine months ended September 30, 2024, the Company paid $240,656 and $310,781 principal of the loan. On November 18, 2024, the Merchants entered into another standard merchant cash advance agreement with Factor H. The Company sold $1,167,200 of its accounts receivable balances on a recourse basis for credit approved accounts. The net purchase price of $752,000 was remitted to the Company, after the deduction of the total fees of $48,000. The Company agreed to pay a weekly installment of $32,000 for 37 weeks. The effective interest rate of this agreement was 94.98%. The Company use this loan to pay off $566,150 previous loan with Factor H that dated on May 2, 2024. For the three and nine months ended September 30, 2025, the Company paid $5,000 and $38,194 principal of the loan.
[2] On August 29, 2024, the Merchants entered into a standard merchant cash advance agreement with Factor I. The Company sold $213,000 of its accounts receivable balances on a recourse basis for credit approved accounts. The net purchase price of $142,500 was remitted to the Company, after the deduction of the total fees of $7,500. The Company agreed to pay a weekly installment of $8,192 for 26 weeks. The effective interest rate of this agreement was 84.22%. For the three and nine months ended September 30, 2024, the Company paid $15,015 and $15,015 principal of the loan. On December 12, 2024, the Merchants entered into another standard merchant cash advance agreement with Factor I. The Company sold $319,500 of its accounts receivable balances on a recourse basis for credit approved accounts. The net purchase price of $213,750 was remitted to the Company, after the deduction of the total fees of $11,250. The Company agreed to pay a weekly installment of $13,313 for 24 weeks. The effective interest rate of this agreement was 84.03%. The Company use this loan to pay off $90,116 previous loan with Factor I that dated on August 29, 2024. For the three and nine months ended September 30, 2025, the Company paid $0 and $79,287 principal of the loan. On July 31, 2025, Factor I filed a settlement agreement for Stay of Prosecution in the Seventeenth Judicial Court in Broward County, Florida, pursuant to which both parties agreed to pay a weekly installment of $10,000 for 18 weeks commencing on August 5, 2025 to December 2, 2025, followed by a final installment of $6,572 on December 9, 2025. The Company used this settlement agreement to pay off a $163,063 previous loan with Factor I dated on December 12, 2024, resulting in a $23,509 loss on debt settlement. For the three and nine months ended September 30, 2025, the Company paid $20,000 and $20,000 principal of the loan. The loan was paid off in October 2025.
[3] On September 27, 2024, the Merchants entered into a standard merchant cash advance agreement with Factor J. The Company sold $72,500 of its accounts receivable balances on a recourse basis for credit approved accounts. The net purchase price of $47,470 was remitted to the Company, after the deduction of the total fees of $2,530. The Company agreed to pay a weekly installment of $3,021 for 24 weeks. The effective interest rate of this agreement was 88.98%. For the three and nine months ended September 30, 2025, the Company paid $0 and $28,838 principal of the loan. On February 11, 2025, the Merchants entered into another standard merchant cash advance agreement with Factor J. The Company sold $94,250 of its accounts receivable balances on a recourse basis for credit approved accounts. The net purchase price $61,070 was remitted to the company, after the deduction of the total fees $3,930. The Company agreed to pay a weekly installment of $6,732 for 14 weeks. The effective interest rate of this agreement was 89.54%. The Company use this loan to pay off $18,125 previous loan with Factor J that dated on February 10, 2025. For the three and nine months ended September 30, 2025, the Company paid $2,368 and $22,815 principal of the loan.
[4] On September 30, 2024, the Merchants entered into a standard merchant cash advance agreement with Factor K. The Company sold $181,250 of its accounts receivable balances on a recourse basis for credit approved accounts. The net purchase price of $115,955 was remitted to the Company, after the deduction of the total fees of $9,045. The Company agreed to pay a weekly installment of $7,552 for 24 weeks. The effective interest rate of this agreement was 94.36%. For the three and nine months ended September 30, 2025, the Company paid $0 and $66,404 principal of the loan. On February 11, 2025, the Merchants entered into another standard merchant cash advance agreement with Factor K. The company sold $147,000 of its accounts receivable balances on a recourse basis for credit approved accounts. The net purchase price $92,605 was remitted to the company, after the deduction of the total fees $7,395. The Company agreed to pay a weekly installment of $10,500 for 14 weeks. The effective interest rate of this agreement was 96.04%. The Company use this loan to pay off $37,760 previous loan with Factor K that dated on September 30, 2024. For the three and nine months ended September 30, 2025, the Company paid $0 and $23,785 principal of the loan. On July 16, 2025, Factor K filed a complaint in Court in Monroe County, New York referring to an outstanding balance of $100,588 after payments of $46,551 on its loan agreement with the Company, dated February 11, 2025. The total claimed amount is $129,463 plus interest from June 30, 2025 and attorney fees. On July 22, 2025, Factor K and the Company entered into a Stipulation of Settlement Agreement pursuant to which each party agreed to a settlement amount and remittance schedule that commencing on July 23, 2025 through November 11, 2025. The Company used this settlement agreement to pay off a $95,500 previous loan with Factor K dated on December 12, 2024, resulting in a $33,963 loss on debt settlement. For the three and nine months ended September 30, 2025, the Company paid $73,800 and $73,800 principal of the loan. The loan was paid off in October 2025.
[5] On February 7, 2025, the Merchants entered into a standard merchant cash advance agreement with Wave advance Inc (the “Factor L”). The Company sold $183,750 of its accounts receivable balances on a recourse basis for credit approved accounts. The net purchase price of $107,500 was remitted to the Company, after the deduction of the total fees of $8,750. The Company agreed to pay a weekly installment of $13,125 for 14 weeks. The effective interest rate of this agreement was 113.58%. For the three and nine months ended September 30, 2025, the Company paid $0 and $116,250 principal of the loan. On February 25, 2025, the Merchant entered into another standard merchant cash advance agreement with Factor L. The Company sold $280,770 of its accounts receivable balance on a recourse basis for credit approved accounts. The net purchase price $177,630 was remitted to the company, after the deduction of the total fees of $13,370. The Company agreed to pay a weekly installment of $17,550 for 16 weeks. The effective interest rate of this agreement was 95.63%. The Company use this loan to pay off $157,500 previous loan with Factor L that dated on February 7, 2025 resulting in $20,000 of gain on debt settlement. For the three and nine months ended September 30, 2025, the Company paid $0 and $39,067 principal of the loan. On August 1, 2025, the Company and Factor L signed a settlement agreement that required payments from August 5 to October 27, 2025, for an aggregate amount of $201,170. The Company agreed to pay a weekly installment of $18,000 for 11 weeks from August 5, 2025 to October 20, 2025, followed by a final installment of $3,170 on October 27, 2025. The Company use this settlement agreement to pay off a $198,670 previous loan with Factor I dated on February 25, 2025, resulting in a $2,500 loss on debt settlement. For the three and nine months ended September 30, 2025, the Company paid $52,000 and $52,000 principal of the loan. These receivable purchase agreements were accounted for as secured borrowing under ASC 860 since there is no legal, actual, effective transfer of the receivables to the Factors. Rather, the Factors only have generally claim against the receivable pools not a particular receivable. As of September 30, 2025 and December 31, 2024, outstanding balance amounted to $1,056,639 and $988,336, respectively.
[6] On October 30, 2023, NMI entered into a loan agreement with an independent third party pursuant to which the Company borrowed a principal amount of $100,000 with an annual interest rate of 12% for a term of one year. The loan was originally extended to April 15, 2025, subsequently extended to July 16, 2025, then extended to November 16, 2025. The loan balance as of September 30, 2025 and December 31, 2024 was $100,000 and $100,000, respectively.
[7] On March 7, 2024, the Company’s subsidiary Nature’s Miracles entered into a loan agreement with Peng Zhang, a 2.5% shareholder of the Company. The amount of the loan is $1,405,000 with 10% interest and is due on March 7, 2025. For the year ended December 31, 2024, Nature’s Miracles made a payment of $500,000 toward the loan. On November 19, 2024, the Company entered into a debt-to-equity conversion agreement, under which Peng Zhang agreed to convert the $345,000 of loan balance into 130,682 shares of the Company’s common stock at a conversion price of $2.64 per share. The loan was originally extended to July 16, 2025, then extended to November 16, 2025. As of September 30, 2025 and December 31, 2024, the loan balance was $560,000 and $560,000.
[8] On February 10, March 28, June 5, June 27, September 22, December 22, 2023 and February 20, 2024, Lakeshore entered into seven promissory notes with RedOne to which Lakeshore borrowed an aggregate principal amount of $380,000 with zero interest rate. On July 11, 2023, Lakeshore entered into a loan agreement with Deyin Chen (Bill) to which Lakeshore borrowed a principal amount of $125,000 with an annual interest rate of 8%. This loan was extended to March 11, 2024 with interest waived pursuant to a Side Letter to the loan agreements dated December 8, 2023. A payment of $75,000 was made upon close of the Merger on March 11, 2024 and the loan balance of $50,000 owed to Deyin Chen (Bill) was assigned to RedOne and the Company assumed the outstanding balance. The loan bears interest of 8% per annum. $50,000 was paid on July 29, 2024 and $150,000 was paid on November 11, 2024. The balance of $230,000, originally due by December 11, 2024, was revised to be paid in two equal installments: the first installment of $115,000 no later than March 31, 2025, and the second installment of $115,000 no later than June 30, 2025. Both installments were extended to July 15, 2025, subsequently extended to September 10, 2025.
[9] On June 6, 2024, the Merchants entered into a subordinated business loan and security agreement with Agile Capital Funding, LLC and Agile Lending, LLC for the principal amount of $288,750, including the administrative agent fee of $13,750. The Company agreed to pay a weekly installment of $15,056 for 28 weeks. The effective interest rate of this agreement was 90.22%. The collateral consists of the Company’s right, title and interest in and to including the Company’s financial assets, goods, accounts, equipment, inventory, contract rights or rights to payment of money. The Company received the net proceeds on June 7, 2024. For the three and nine months ended September 30, 2024, the Company paid $255,808 and $275,000 principal of the loan. On September 25, 2024, the Merchants entered into another subordinated business loan and security agreement with Agile Capital Funding, LLC and Agile Lending, LLC for the principal amount of $315,000, including the administrative agent fee of $15,000. The Company agreed to pay a weekly installment of $16,425 for 28 weeks. The effective interest rate of this agreement was 90.22%. The Company use this loan to pay off $195,806 previous loan with Agile Capital Funding, LLC and Agile Lending, LLC that dated on June 6, 2024. For the three and nine months ended September 30, 2024, the Company paid $0 and $0 principal of the loan. On November 21, 2024, the Merchants entered into another subordinated business loan and security agreement with Agile Capital Funding, LLC and Agile Lending, LLC for the principal amount of $575,000, including the administrative agent fee of $28,750. The Company agreed to pay a weekly installment of $29,982 for 28 weeks. The effective interest rate of this agreement was 90.80%. The Company use this loan to pay off $331,388 previous loan with Agile Capital Funding, LLC and Agile Lending, LLC dated on September 25, 2024. For the three and nine months ended September 30, 2025, the Company paid $16,880 and $93,656 principal of the loan.
[10] On December 1, 2024, Visiontech and ClassicPlan Premium Financing, Inc., entered into a premium financing agreement with a total gross policy premium and related fees of $15,465 and financed $10,559 of it. Visiontech needs to pay a monthly installment of $1,286 for nine months with the last installment due on August 1, 2025. The effective interest rate of this loan was 22.57%. During the three and nine months ended September 30, 2025, the Company paid $2,505 and $9,471 principal of the loan.
[11] On December 30, 2024, the Merchants entered into a business loan and security agreement (the “Agreement”) with Maximcash Solutions LLC (the “Maxim”). Under the Agreement, the Maxim loaned $311,000 to the Company, which includes an $11,000 origination fee deducted at the time of funding. This loan carries an interest rate of 51.64% and an annual percentage rate of 59.40%. The loan matures on January 14, 2026. The Company will repay the Loan in 26 biweekly payments of $15,430, with a total repayment amount of $401,190 over a 12-month term. The loan is secured by all present and after-acquired property of the Company. As security to the loan, the Company shall issue 311,000 shares of its common stock to Maximin in the event of a loan default. For the three and nine months ended September 30, 2025, the Company paid $47,617 and $175,752 principal of the loan. On July 8, 2025, Maxim filed a complaint against the Company in the Third Judicial Court of Utah pertaining to the loan agreement dated December 30, 2024 as a result of a failure to make the required repayment pursuant to the loan agreement. The claimed amount was $230,738 plus daily interest and attorney fees resulting in a $30,089 loss on debt settlement. On August 6, 2025, the Company entered into a Standstill Agreement with Maxim, which expired on October 6, 2025 to further negotiate the term of the loan. On August 7, the Company wired an interest payment of $61,720 to Maxim as agreed in the Standstill Agreement.