v3.26.1
Cost Method Investment
 12 Months Ended
Dec. 31, 2025
Cost Method Investment [Abstract]  
Cost method investment

Note 8 — Cost method investment

 

Cost method investment consists of the following:

 

   As of
December 31,
2025		   As of
December 31,
2024		 
10% Investment of Iluminar  $
     -
   $1,000,000 
Total  $
-
   $1,000,000 

 

On April 11, 2023, one of the Company’s customers, Iluminar Lighting LLC (“Iluminar”) entered into Debt Conversion Agreement with the Company pursuant to which it will convert $1,000,000 of accounts receivable to 1,033,333 shares of Iluminar which is 10% of Iluminar’s outstanding shares. The shares were issued to the Company on March 31, 2023. The Company determined that the recoverability of the investment appears doubtful. The Company deemed the loss in investment value other than a temporary decline and thus recorded $1.0 million impairment loss. As of December 31, 2025 and 2024, the Company recorded impairment of $1,000,000 and nil respectively.