v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 4,147,216 $ 5,787,993
Accounts receivable, net 4,087,261 5,327,037
Inventories, net 23,937,558 26,007,553
Advance to suppliers 194,971 193,403
Prepaid and other current assets 540,558 2,531,257
Total current assets 32,907,564 39,847,243
NON-CURRENT ASSETS    
Property and equipment at cost, net 645,126 456,078
Right of use operating lease assets, net 6,964,143 7,388,313
Right of use financing lease assets, net 20,133 30,513
Crypto Assets 438,208 573,333
Other non-current assets 49,500 49,500
Deferred tax assets 3,260,973 3,087,831
Total non-current assets 11,378,083 11,585,568
TOTAL ASSETS 44,285,647 51,432,811
CURRENT LIABILITIES    
Accounts payable 2,330,776 7,726,558
Other payable, accrued expenses and other current liabilities 6,176,297 6,233,684
Return liabilities 11,438 12,166
Warranty liabilities 144,419 152,795
Contract liabilities 519,142 609,171
Current portion of obligations under operating leases 1,878,122 1,956,045
Current portion of obligations under financing leases 14,785 23,927
Income tax payable 3,543,727 3,539,447
Loan from a related party 2,000,089 2,000,089
Total current liabilities 16,618,795 22,253,882
NON-CURRENT LIABILITIES    
Obligations under operating leases, non-current 4,983,516 5,456,648
Obligations under financing leases, non-current 7,675 9,676
Total non-current liabilities 4,991,191 5,466,324
TOTAL LIABILITIES 21,609,986 27,720,206
Commitments and Contingencies  
EQUITY    
Common shares, $0.001 par value, 100,000,000 shares authorized, 41,640,950 and 41,640,950 issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 41,640 41,640
Additional paid-in-capital 7,084,356 7,113,750
Retained earnings 15,549,665 16,557,215
Total equity 22,675,661 23,712,605
TOTAL LIABILITIES AND EQUITY $ 44,285,647 $ 51,432,811