LOANS FROM THIRD PARTIES |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Debt Disclosure [Abstract] | |
| LOANS FROM THIRD PARTIES | NOTE 7 – LOANS FROM THIRD PARTIES
During the three months ended March 31, 2023, the Company borrowed $87,705 (RMB 600,000) from a third-party individual. The loans are unsecured, bearing an interest rate of 0.5% per annum, and due in one year. On February 18, 2024, the Company entered into a debt settlement agreement with the third party. Pursuant to the agreement, the Company issued common stocks with total fair value of $83,847 to settlement the total loan principal and interest payable of $83,847 (RMB 603,000), which resulted in no gain or loss. The change in value as of transaction date was due to the fluctuation in foreign exchange rates. The interest expenses were not material for the year ended December 31, 2024.
During the three months ended June 30, 2024, the Company borrowed $30,495 (RMB 220,000) from three third-party individuals. The loans are unsecured, bearing an interest rate of 0.5% per annum, and due in one year. On October 23, 2024, the Company converted the above loans, including accrued interest with the three third-party individuals, to exchange issuance of shares of the common stock of the Company, at $ per share. There were no additional transactions related to these borrowings during the year ended December 31, 2025, and no outstanding balance remained as of December 31, 2025 and 2024.
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