| Schedule of Short-Term Loans — Related Parties |
Short-term loans — related
parties
| | |
As of
December 31,
2025 | | |
As of
December 31,
2024 | |
| Zhiyi Zhang (1) | |
$ | 60,000 | | |
$ | 60,000 | |
| Tie Li (2) | |
| 85,000 | | |
| 185,000 | |
| NMCayman (3) | |
| - | | |
| 35,755 | |
| Big Lake(4) | |
| 49,000 | | |
| - | |
| Total short-term loans – related parties | |
$ | 194,000 | | |
$ | 280,755 | |
| (1) | On November 29, 2022, Visiontech signed a loan with Zhiyi (Jonathan)
Zhang, one of the stockholders of the Company, for the principal amount of $100,000 with 8% interest rate. This loan is originally required
to be paid in full before May 29, 2023, the Company initially extended it to November 15, 2023, further extended to February 15,
2024, subsequently further extended to August 15, 2024, April 15, 2025 and October 16, 2025 and finally extended to December 1, 2025.
During the year ended December 31, 2023, the Company paid $40,000 to Zhiyi Zhang. The loan balance as of December 31, 2025 and 2024 was
$60,000 and $60,000. As of December 31, 2025 and 2024, the accrued interest of this loan was $17,053 and $12,079, respectively. As of
the submission date, this loan has not been extended. Mr. Zhang recently resigned as President and Director and has not finalized a repayment
plan with the Company. |
| (2) | In December 2022, the Company signed two loans with Tie (James) Li, the Company’s CEO, for the total principal amount of $610,000 with 8% interest rate. This loan is originally required to be paid in full before June 1, 2023, the Company initially extended it to November 15, 2023. The Company made $500,000 payments towards the loan on June 16, 2023 and paid $50,000 on July 29, 2024. The $110,000 loan was further extended to February 15, 2024, subsequently extended to August 15, 2024 and April 15, 2025, and finally extended to October 16, 2025. The loan balance as of December 31, 2025 and 2024 was $0 and $60,000, respectively. The accrued interest of this loan as of December 31, 2025 and 2024 was $1,012 and $547, respectively. |
On July 11, 2023, Lakeshore signed
one loan with Tie (James) Li for a principal amount of $125,000 with 8% interest rate. This loan was required to be paid in full before
November 11, 2023. On December 8, 2023, Lakeshore entered into a side letter to this loan agreement to extend the repayment to March 11,
2024 and agree to waive any and all interest and penalties that may have accrued commencing on November 11, 2023. This loan was subsequently
extended to September 15, 2024 and April 15, 2025, and finally extended to October 16, 2025. The loan balance as of December 31, 2025
and 2024 was $0 and $125,000, respectively. As of December 31, 2025 and 2024, accrued interest of this loan was $3,512 and $2,521.
In December 18, 2025, the Company signed one loan with Tie (James)
Li for the principal amount of $70,000 with 5% interest rate. This loan is required to be paid in full before May 16, 2026. The loan balance
as of December 31, 2025 was $70,000. The accrued interest of this loan as of December 31, 2025 was $134.
In December 30, 2025, the Company signed one loan with Tie (James)
Li for the total principal amount of $15,000 with 5% interest rate. This loan is required to be paid in full before April 1, 2026, and
then extended to May 16, 2026. The loan balance as of December 31, 2025 was $15,000. The accrued interest of this loan as of December
31, 2025 was $0. | (3) | On January 17, 2023, the Company and NMCayman entered into a loan agreement for the principal amount of $318,270 with 8% interest rate. This loan is originally required to be paid in full before July 17, 2023, the Company initially extended it to November 15, 2023, further extended to February 15, 2024, subsequently extended to August 15, 2024, and finally extended to April 15, 2025. On November 19, 2024, the Company entered into a debt-to-equity conversion agreement with NMCayman, under which $299,714 balance of this debt and $277,786 balance of another debt (see below) will be converted into 218,750 shares of common stock for James at a conversion price of $2.64 per share. On July 31, 2025, the Company paid off remaining balance. As of December 31, 2025 and 2024, the loan balance was $0 and $18,556, respectively. As of December 31, 2025 and 2024, accrued interest of this loan was $47,042 and $46,180, respectively. |
On January 17, 2023, the Company
and NMCayman entered into a loan agreement for the principal amount of $294,985 with 8% interest rate. This loan is originally required
to be paid in full before July 17, 2023, the Company initially extended it to November 15, 2023, further extended to February 15, 2024,
subsequently extended to August 15, 2024, and finally extended to April 15, 2025. On November 19, 2024, the Company entered into a debt-to-equity
conversion agreement with NMCayman, under which $277,786 balance of this debt and $299,714 balance of another debt will be converted into
218,750 shares of common stock for James at a conversion price of $2.64 per share. On July 31, 2025, the Company paid off remaining balance.
As of December 31, 2025 and 2024, the loan balance was $0 and $17,199, respectively. As of December 31, 2025 and 2024, the accrued interest
of this loan was $43,249 and $42,449, respectively.
| (4) | In December 22, 2025, the Company signed a loan agreement with Big Lake Capital, LLC for a total principal amount of $49,000 with a 10% interest rate. The loan is unsecured and accrues interest from December 22, 2025. The Company is required to repay the loan in full by June 22, 2026. All payments are applied first to accrued interest and then to principal. In the event of default, the outstanding principal and accrued interest may be accelerated and become immediately due at the lender’s option. Additionally, the loan includes a debt forgiveness provision, whereby the loan may be forgiven in full if the Company invests an amount equal to or greater than the loan proceeds into the Company. The loan balance as of December 31, 2025 was $49,000, and the accrued interest as of December 31, 2025 was 121. |
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