NOTE 5 – ACCOUNTS RECEIVABLE, NET
Accounts receivable is net of allowance for expected credit losses.
| | |
As of | |
| | |
March 31,
2026 | | |
December 31,
2025 | |
| Accounts receivable | |
$ | 25,901,491 | | |
$ | 17,272,509 | |
| Less: allowance for expected credit losses | |
| (16,251 | ) | |
| (16,030 | ) |
| Accounts receivable, net | |
$ | 25,885,240 | | |
$ | 17,256,479 | |
Changes in the allowance for expected credit losses
are as follows:
| | |
For
the
three months ended
March 31,
2026 | | |
For
the
Year Ended December 31, 2025 | |
| | |
| | |
| |
| Beginning balance | |
$ | 16,030 | | |
$ | - | |
| Additional provision charged to expense | |
| - | | |
| 15,596 | |
| Effect of foreign exchange change | |
| 221 | | |
| 434 | |
| Ending balance | |
$ | 16,251 | | |
$ | 16,030 | |
|