v3.26.1
Note 14 - Income taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2025
Tables/Schedules  
Schedule of Deferred Tax Assets and Liabilities

 

 

 

As of

 

As of

 

As of

 

 

December 31,

 

December 31,

 

December 31,

 

2025

 

2024

 

2023

 

 

 

 

 

 

 

 

Deferred tax assets

 

 

 

 

 

 

 

 

 

Net operating loss carry forwards

 

$

881,855  

 

$

653,290  

 

$

247,451  

Bad debt allowance

 

 

147,403  

 

 

135,590  

 

 

113,139  

Inventory provision

 

 

49,834  

 

 

49,002  

 

 

30,109  

Unpaid accrued bonus

 

 

16,165  

 

 

15,487  

 

 

30,628  

Lease liabilities

 

 

143,646  

 

 

216,315  

 

 

81,436  

Total deferred tax assets

 

 

1,238,903  

 

 

1,069,684  

 

 

502,763  

Less: Valuation allowance

 

 

(1,038,550) 

 

 

(767,542) 

 

 

(392,393) 

Net deferred tax assets

 

$

200,353  

 

$

302,142  

 

$

110,370  

  

 

 

As of

 

As of

 

As of

 

 

December 31,

 

December 31,

 

December 31,

 

2025

 

2024

 

2023

 

 

 

 

 

 

 

 

 

 

Deferred tax liabilities

 

 

 

 

 

 

 

 

 

Property and equipment

 

 

(26,893) 

 

 

(19,134) 

 

 

(25,621) 

Right-of-use assets

 

 

(173,460) 

 

 

(283,008) 

 

 

(84,749) 

Total deferred tax liabilities

 

 

(200,353) 

 

 

(302,142) 

 

 

(110,370) 

Total deferred tax assets, net

 

 

 

 

 

 

 

 

 

 

The roll-forward of valuation allowance of deferred tax assets were as follows:

 

 

 

For the Years Ended December 31,

 

 

2025

 

2024

 

 

2023

 

 

 

 

 

 

 

 

 

 

Balance at beginning of the year

 

$

767,542 

 

$

392,393 

 

 

$

317,954 

Additions

 

 

835,257 

 

 

410,306 

 

 

 

168,581 

Utilization

 

 

(620,410)

 

 

(18,884)

 

 

 

Reversal

 

 

 

 

 

 

 

(86,177)

Exchange rate effect

 

 

56,161 

 

 

(16,273)

 

 

 

(7,965)

Balance at end of the year

 

$

1,038,550 

 

$

767,542 

 

 

$

392,393