0001952853 2026-01-01 2026-03-31 0001952853 2026-05-15 0001952853 2026-03-31 0001952853 2025-12-31 0001952853 2025-01-01 2025-03-31 0001952853 us-gaap:CommonStockMember 2024-12-31 0001952853 MAMO:SubscriptionReceivableMember 2024-12-31 0001952853 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001952853 us-gaap:RetainedEarningsMember 2024-12-31 0001952853 2024-12-31 0001952853 us-gaap:CommonStockMember 2025-12-31 0001952853 MAMO:SubscriptionReceivableMember 2025-12-31 0001952853 us-gaap:AdditionalPaidInCapitalMember 2025-12-31 0001952853 us-gaap:RetainedEarningsMember 2025-12-31 0001952853 us-gaap:CommonStockMember 2025-01-01 2025-03-31 0001952853 MAMO:SubscriptionReceivableMember 2025-01-01 2025-03-31 0001952853 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-03-31 0001952853 us-gaap:RetainedEarningsMember 2025-01-01 2025-03-31 0001952853 us-gaap:CommonStockMember 2026-01-01 2026-03-31 0001952853 MAMO:SubscriptionReceivableMember 2026-01-01 2026-03-31 0001952853 us-gaap:AdditionalPaidInCapitalMember 2026-01-01 2026-03-31 0001952853 us-gaap:RetainedEarningsMember 2026-01-01 2026-03-31 0001952853 us-gaap:CommonStockMember 2025-03-31 0001952853 MAMO:SubscriptionReceivableMember 2025-03-31 0001952853 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0001952853 us-gaap:RetainedEarningsMember 2025-03-31 0001952853 2025-03-31 0001952853 us-gaap:CommonStockMember 2026-03-31 0001952853 MAMO:SubscriptionReceivableMember 2026-03-31 0001952853 us-gaap:AdditionalPaidInCapitalMember 2026-03-31 0001952853 us-gaap:RetainedEarningsMember 2026-03-31 0001952853 us-gaap:IPOMember 2024-04-04 2024-04-04 0001952853 us-gaap:IPOMember 2024-04-04 0001952853 MAMO:MassimoGroupMember 2026-03-31 0001952853 MAMO:MassimoMotorSportsLLCMember 2023-06-01 0001952853 MAMO:MassimoMarineLLCMember 2023-06-01 0001952853 MAMO:MassimoMotorSportsAndMassimoMarineMember 2023-06-01 0001952853 MAMO:MassimoMotorSportsLLCMember MAMO:AsianInternationalSecuritiesExchangeCoLtdMember 2023-06-01 0001952853 MAMO:MassimoMarineLLCMember MAMO:AsianInternationalSecuritiesExchangeCoLtdMember 2023-06-01 0001952853 MAMO:MassimoMotorMarineMember MAMO:AsianInternationalSecuritiesExchangeCoLtdMember 2023-06-01 0001952853 MAMO:MassimoGroupMember MAMO:AsianInternationalSecuritiesExchangeCoLtdMember 2023-06-01 0001952853 MAMO:MassimoGroupMember 2026-01-01 2026-03-31 0001952853 MAMO:MassimoMotorSportsLLCMember 2026-01-01 2026-03-31 0001952853 MAMO:MassimoMotorSportsLLCMember 2026-03-31 0001952853 MAMO:MassimoMarineLLCMember 2026-01-01 2026-03-31 0001952853 MAMO:MassimoMarineLLCMember 2026-03-31 0001952853 2024-01-01 2024-03-31 0001952853

us-gaap:CostOfRevenue

2026-01-01 2026-03-31 0001952853

us-gaap:CostOfRevenue

2025-01-01 2025-03-31 0001952853

us-gaap:SellingExpense

2026-01-01 2026-03-31 0001952853

us-gaap:SellingExpense

2025-01-01 2025-03-31 0001952853 srt:MaximumMember 2026-01-01 2026-03-31 0001952853 MAMO:CathayBankMember MAMO:MassimoMotorSportsLLCMember 2025-03-31 0001952853 MAMO:CathayBankMember MAMO:MassimoMotorSportsLLCMember 2025-12-31 0001952853 MAMO:MidFirstBankMember MAMO:MassimoMotorSportsLLCMember 2025-12-31 0001952853 MAMO:OneCustomerMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2026-01-01 2026-03-31 0001952853 MAMO:OneCustomerMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-03-31 0001952853 MAMO:OneCustomerMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2026-01-01 2026-03-31 0001952853 MAMO:TwoCustomerMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2026-01-01 2026-03-31 0001952853 MAMO:OneCustomerMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-12-31 0001952853 us-gaap:SalesRevenueNetMember us-gaap:SupplierConcentrationRiskMember MAMO:OneSupplierMember 2026-01-01 2026-03-31 0001952853 us-gaap:SalesRevenueNetMember us-gaap:SupplierConcentrationRiskMember MAMO:TwoSupplierMember 2026-01-01 2026-03-31 0001952853 us-gaap:SalesRevenueNetMember us-gaap:SupplierConcentrationRiskMember MAMO:ThreeSupplierMember 2026-01-01 2026-03-31 0001952853 us-gaap:SalesRevenueNetMember us-gaap:SupplierConcentrationRiskMember MAMO:OneSupplierMember 2025-01-01 2025-03-31 0001952853 us-gaap:SalesRevenueNetMember us-gaap:SupplierConcentrationRiskMember MAMO:TwoSupplierMember 2025-01-01 2025-03-31 0001952853 us-gaap:SalesRevenueNetMember us-gaap:SupplierConcentrationRiskMember MAMO:ThreeSupplierMember 2025-01-01 2025-03-31 0001952853 us-gaap:AccountsPayableMember us-gaap:SupplierConcentrationRiskMember MAMO:OneSupplierMember 2026-01-01 2026-03-31 0001952853 us-gaap:AccountsPayableMember us-gaap:SupplierConcentrationRiskMember MAMO:TwoSupplierMember 2026-01-01 2026-03-31 0001952853 us-gaap:AccountsPayableMember us-gaap:SupplierConcentrationRiskMember MAMO:ThreeSupplierMember 2026-01-01 2026-03-31 0001952853 us-gaap:AccountsPayableMember us-gaap:SupplierConcentrationRiskMember MAMO:OneSupplierMember 2025-01-01 2025-12-31 0001952853 us-gaap:AccountsPayableMember us-gaap:SupplierConcentrationRiskMember MAMO:TwoSupplierMember 2025-01-01 2025-12-31 0001952853 srt:MinimumMember us-gaap:FurnitureAndFixturesMember 2026-03-31 0001952853 srt:MaximumMember us-gaap:FurnitureAndFixturesMember 2026-03-31 0001952853 srt:MinimumMember us-gaap:MachineryAndEquipmentMember 2026-03-31 0001952853 srt:MaximumMember us-gaap:MachineryAndEquipmentMember 2026-03-31 0001952853 MAMO:ElectronicEquipmentMember 2026-03-31 0001952853 us-gaap:TransportationEquipmentMember 2026-03-31 0001952853 us-gaap:LeaseholdImprovementsMember 2026-03-31 0001952853 srt:MinimumMember us-gaap:LeaseholdImprovementsMember 2026-03-31 0001952853 srt:MaximumMember us-gaap:LeaseholdImprovementsMember 2026-03-31 0001952853 MAMO:UTVsAndATVsElectricBikesMember 2026-01-01 2026-03-31 0001952853 MAMO:UTVsAndATVsElectricBikesMember 2025-01-01 2025-03-31 0001952853 MAMO:PontoonBoatsMember 2026-01-01 2026-03-31 0001952853 MAMO:PontoonBoatsMember 2025-01-01 2025-03-31 0001952853 MAMO:PontoonBoatsRepurchaseCreditMember 2026-01-01 2026-03-31 0001952853 MAMO:PontoonBoatsRepurchaseCreditMember 2025-01-01 2025-03-31 0001952853 2025-01-01 2025-12-31 0001952853 us-gaap:FurnitureAndFixturesMember 2026-03-31 0001952853 us-gaap:FurnitureAndFixturesMember 2025-12-31 0001952853 us-gaap:MachineryAndEquipmentMember 2026-03-31 0001952853 us-gaap:MachineryAndEquipmentMember 2025-12-31 0001952853 us-gaap:VehiclesMember 2026-03-31 0001952853 us-gaap:VehiclesMember 2025-12-31 0001952853 MAMO:ElectronicEquipmentMember 2025-12-31 0001952853 us-gaap:LeaseholdImprovementsMember 2025-12-31 0001952853 MAMO:MrDavidShanMember MAMO:MillerCreekHoldingLLCMember 2018-08-01 0001952853 MAMO:MrDavidShanMember MAMO:MillerCreekHoldingLLCMember 2018-08-01 2018-08-01 0001952853 MAMO:MrDavidShanMember MAMO:AnotherThreeYearsMember MAMO:MillerCreekHoldingLLCMember 2018-08-01 0001952853 MAMO:MrDavidShanMember MAMO:AnotherThreeYearsMember MAMO:MillerCreekHoldingLLCMember 2018-08-01 2018-08-01 0001952853 MAMO:MrDavidShanMember MAMO:MillerCreekHoldingLLCMember 2024-08-01 0001952853 MAMO:MrDavidShanMember MAMO:MillerCreekHoldingLLCMember 2024-08-01 2024-08-01 0001952853 MAMO:MrDavidShanMember MAMO:MillerCreekHoldingLLCMember 2023-04-29 0001952853 MAMO:MrDavidShanMember MAMO:MillerCreekHoldingLLCMember 2023-04-29 2023-04-29 0001952853 MAMO:MrDavidShanMember srt:WarehouseMember MAMO:MillerCreekHoldingLLCMember MAMO:TwoLeaseAgreementsMember 2024-05-01 0001952853 MAMO:MrDavidShanMember MAMO:OfficeSpaceMember MAMO:MillerCreekHoldingLLCMember MAMO:TwoLeaseAgreementsMember 2024-05-01 0001952853 MAMO:MrDavidShanMember srt:WarehouseMember MAMO:MillerCreekHoldingLLCMember MAMO:TwoLeaseAgreementsMember 2024-05-01 2024-05-01 0001952853 MAMO:MrDavidShanMember MAMO:OfficeSpaceMember MAMO:MillerCreekHoldingLLCMember MAMO:TwoLeaseAgreementsMember 2024-05-01 2024-05-01 0001952853 MAMO:MrDavidShanMember MAMO:MillerCreekHoldingLLCMember MAMO:TwoLeaseAgreementsMember 2024-05-01 2024-05-01 0001952853 MAMO:MrDavidShanMember 2026-01-01 2026-03-31 0001952853 MAMO:MillerCreekHoldingsLLCMember 2026-01-01 2026-03-31 0001952853 MAMO:VesselTechnologyIncMember 2026-01-01 2026-03-31 0001952853 MAMO:MrDavidShanMember 2025-12-31 0001952853 MAMO:MrDavidShanMember 2024-12-31 0001952853 MAMO:MrDavidShanMember 2025-01-01 2025-12-31 0001952853 MAMO:MrDavidShanMember 2026-03-31 0001952853 2023-06-01 0001952853 us-gaap:OverAllotmentOptionMember 2024-04-04 2024-04-04 0001952853 MAMO:TJCMAssetManagementLLCMember 2024-06-18 2024-06-18 0001952853 MAMO:TJCMAssetManagementLLCMember 2024-06-21 2024-06-21 0001952853 MAMO:TJCMAssetManagementLLCMember 2024-11-29 2024-11-29 0001952853 MAMO:TJCMAssetManagementLLCMember 2026-01-01 2026-03-31 0001952853 MAMO:TJCMAssetManagementLLCMember 2025-01-01 2025-03-31 0001952853 MAMO:RepresentativesWarrantMember 2026-03-31 0001952853 MAMO:RepresentativesWarrantMember 2026-01-01 2026-03-31 0001952853 us-gaap:MeasurementInputRiskFreeInterestRateMember MAMO:RepresentativesWarrantMember 2026-03-31 0001952853 us-gaap:MeasurementInputExpectedTermMember MAMO:RepresentativesWarrantMember 2026-03-31 0001952853 us-gaap:MeasurementInputExercisePriceMember MAMO:RepresentativesWarrantMember 2026-03-31 0001952853 us-gaap:MeasurementInputOptionVolatilityMember MAMO:RepresentativesWarrantMember 2026-03-31 0001952853 us-gaap:MeasurementInputExpectedDividendRateMember MAMO:RepresentativesWarrantMember 2026-03-31 0001952853 us-gaap:RestrictedStockUnitsRSUMember 2026-01-01 2026-03-31 0001952853 us-gaap:RestrictedStockUnitsRSUMember 2025-01-01 2025-03-31 0001952853 MAMO:IncentiveStockOptionPlanMember 2024-05-22 2024-05-22 0001952853 MAMO:IncentiveStockOptionPlanMember 2024-05-22 0001952853 MAMO:NonQualifiedStockOptionPlanMember 2024-05-22 2024-05-22 0001952853 MAMO:NonQualifiedStockOptionPlanMember 2024-05-22 0001952853 MAMO:IncentiveStockOptionAndNonQualifiedStockOptionPlanMember 2024-05-22 2024-05-22 0001952853 MAMO:IncentiveStockOptionAndNonQualifiedStockOptionPlanMember 2024-05-22 0001952853 2024-07-08 2024-07-08 0001952853 MAMO:ZhejiangQunyinhVehicleCoLtdMember 2023-09-05 2023-09-05 0001952853 MAMO:SalesOfUTVsAndATVsElectricBikesMember 2025-01-01 2025-03-31 0001952853 MAMO:SalesOfPontoonBoatsMember 2025-01-01 2025-03-31 iso4217:USD shares iso4217:USD shares pure utr:sqft false --12-31 Q1 0001952853

http://fasb.org/us-gaap/2026#UsefulLifeTermOfLeaseMember

10-Q true 2026-03-31 2026 false 001-41994 Massimo Group NV 92-0790263 3101 W Miller Road Garland TX 75041 (877) 881-6376 Common stock, $0.001 par value MAMO NASDAQ Yes Yes Non-accelerated Filer true true false false 41640950

4147216

5787993

4087261

5327037

23937558

26007553

194971 193403

540558

2531257

32907564

39847243

645126

456078

6964143

7388313

20133

30513

438208

573333

49500

3260973

3087831

11378083

11585568

44285647

51432811

2330776

7726558

6176297

6233684

11438

12166

144419

152795

519142

609171

1878122

1956045

14785

23927

3543727

3539447

2000089

16618795

22253882

4983516

5456648

7675

9676

4991191

5466324

21609986

27720206

0.001

100000000

41640950

41640

7084356

7113750

15549665

16557215

22675661

23712605

44285647

51432811

12714996

14901722

7639415

10677072

5075581

4224650

1264305

1869964

4220839

4219600

628762

841196

6113906

6930760

-1038325

-2706110

2781

78698

135125

5742

1090

-138086

77608

-1176411

-2628502

-168861

-539795

-1007550

-2088707

-0.02

-0.05

41603838

41542800

-0.02

-0.05

41603838

41542800

41539950

41539

6614907

15047874

21704320

6750

-7

90480

195940

-2088707

41546700

41546

6901320

12959167

19902033

41640950

41640

7113750

16557215

23712605

29394

-1007550

41640950

41640

7084356

15549655

22675661

-1007550

-2088707

39062

33502

424608 512277

10380

10149

-25995

50009

135125

-24346

-29395

90480

195940

-173142

-544075

-1265771

816318

-2069995

-2872393

94328

-1989131

-153213

4113

-5395782

-3842996

-57383

814071

4280

-8376 -116755

-728

-161983

-90030

108184

-551055

-514697

-1376738

-3339474

10000

262457

3000000

-252457

-3000000

11582

10686

3016300

-11582

-3026986

-1640777

-9366460

5787993

10210084

4147216

843624

895

<p id="xdx_80C_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zbQ88qK8lGN" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">NOTE 1 — ORGANIZATION AND BUSINESS DESCRIPTION Massimo Group (the “Company”) is a holding company established on October 10, 2022 under the laws of the State of Nevada. The Company, through its subsidiaries, is primarily engaged in the manufacturing and sales of a wide selection of farm and ranch tested utility terrain vehicles (“UTVs”), recreational all-terrain vehicles (“ATVs”), and pontoon and tritoon boats (“Pontoon Boats”). On April 4, 2024, the Company completed its initial public offering (“IPO”) of <span id="xdx_90B_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240404__20240404__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zJXkgDyRjjde" title="Sale of stock, number of shares issued in transaction">1,300,000 shares of its common stock at an IPO price of $4.50 per share for aggregate gross proceeds of approximately $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn4n6_c20240404__20240404__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zDueqGMd4F87" title="Proceeds from issuance initial public offering">5.85 million from the offering (Note 15). In connection with the IPO, the Company’s common shares began trading on the Nasdaq Capital Market under the trading symbol “MAMO.” Mr. David Shan, the Company’s executive chairman of the Board and then Chief Executive Officer, is the controlling shareholder (the “controlling shareholder”) of the Company, owning <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoGroupMember_zyYk1Zu2Pshc" title="Equity ownership interest rate percentage">77.6% equity interest of Massimo Group as of March 31, 2026. Reorganization Prior to the IPO, on June 1, 2023, the Company’s two shareholders transferred <span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20230601__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorSportsLLCMember_zCLIkzYng357" title="Equity ownership interest rate percentage">100% of their equity interest in Massimo Motor Sports, LLC (“Massimo Motor Sports”) and <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20230601__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMarineLLCMember_z1s66AYdqoTc" title="Equity ownership interest rate percentage">100% of their equity interest in Massimo Marine, LLC (“Massimo Marine”) to Massimo Group (the “Reorganization”). After this Reorganization, Massimo Group ultimately owns <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20230601__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorSportsAndMassimoMarineMember_zT9NUPeVIYx9" title="Equity ownership interest rate percentage">100% equity interests of Massimo Motor Sports and Massimo Marine. Before and after the Reorganization, the Company, together with its subsidiaries, is effectively controlled by the same controlling shareholders, and therefore the Reorganization is considered as a recapitalization of entities under common control in accordance with Accounting Standards Codification (“ASC”) 805-50-25. The consolidation of the Company and its subsidiaries have been accounted for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the first period presented in the accompanying unaudited condensed consolidated financial statements in accordance with ASC 805-50-45-5. <p id="xdx_89A_eus-gaap--ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTextBlock_z26ET8t3uoNc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Details of the Company and its subsidiaries are set out below upon the Reorganization: SCHEDULE OF SUBSIDIARIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Subsidiaries</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Date of Incorporation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Jurisdiction of Formation</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Percentage of direct/indirect Economic Ownership</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Principal Activities</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Massimo Group</td><td> </td> <td style="text-align: center"><span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoGroupMember_zKk0xMVYx81f" title="Date of Incorporation">October 10, 2022</td><td> </td> <td style="text-align: center"><span id="xdx_908_edei--EntityIncorporationStateCountryCode_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoGroupMember_zcLPbWOGkCzg" title="Jurisdiction of Formation">Nevada</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_907_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoGroupMember_z9flbLPeXqQ9" title="Principal Activities">Holding company</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 20%; text-align: left">Massimo Motor Sports, LLC</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center"><span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorSportsLLCMember_zxBN0sZgZe18" title="Date of Incorporation">June 30, 2009</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center"><span id="xdx_901_edei--EntityIncorporationStateCountryCode_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorSportsLLCMember_zeoDkOpgYD0f" title="Jurisdiction of Formation">Texas</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorSportsLLCMember_zqRtOSYLNyt8" title="Percentage of direct/indirect Economic Ownership">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 22%; text-align: center"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorSportsLLCMember_zErK8F60xVe9" title="Principal Activities">Manufacture of UTVs and ATVs</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Massimo Marine, LLC</td><td> </td> <td style="text-align: center"><span id="xdx_904_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMarineLLCMember_zvBcUEx6cZwj" title="Date of Incorporation">January 6, 2020</td><td> </td> <td style="text-align: center"><span id="xdx_900_edei--EntityIncorporationStateCountryCode_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMarineLLCMember_zNMGcBkjytW7" title="Jurisdiction of Formation">Texas</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMarineLLCMember_z9AcFl64IfKj" title="Percentage of direct/indirect Economic Ownership">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_903_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMarineLLCMember_zj4XVW3p55fb" title="Principal Activities">Manufacture of Pontoon Boats</td></tr> </table> On June 1, 2023, the Company entered into two agreements with Asian International Securities Exchange Co., Ltd. (“AISE”) and AISE agreed to invest $<span id="xdx_900_eus-gaap--EquityMethodInvestments_iI_pn6n6_c20230601__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorSportsLLCMember__dei--LegalEntityAxis__custom--AsianInternationalSecuritiesExchangeCoLtdMember_zFZa3vHD6Pi6" title="Investments">1 million in Massimo Motor Sports and $<span id="xdx_907_eus-gaap--EquityMethodInvestments_iI_pn6n6_c20230601__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMarineLLCMember__dei--LegalEntityAxis__custom--AsianInternationalSecuritiesExchangeCoLtdMember_z2HBx62s0h96" title="Investments">1 million in Massimo Marine in exchange for <span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20230601__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMarineLLCMember__dei--LegalEntityAxis__custom--AsianInternationalSecuritiesExchangeCoLtdMember_z9Wim5Cj6cOl" title="Equity interest ownership percentage">15% of equity interests in each entity respectively. After the Reorganization, the <span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20230601__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorMarineMember__dei--LegalEntityAxis__custom--AsianInternationalSecuritiesExchangeCoLtdMember_zIVlzxVWa0Jh" title="Equity interest ownership percentage">15% of equity interest in Massimo Motor Marine and Massimo Marine owned by AISE have been exchanged to <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20230601__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoGroupMember__dei--LegalEntityAxis__custom--AsianInternationalSecuritiesExchangeCoLtdMember_zOj4rmLziIe" title="Equity interest ownership percentage">15% of equity interest in Massimo Group. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

1300000

4.50

5850000

0.776

<p id="xdx_89A_eus-gaap--ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTextBlock_z26ET8t3uoNc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Details of the Company and its subsidiaries are set out below upon the Reorganization: SCHEDULE OF SUBSIDIARIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Subsidiaries</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Date of Incorporation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Jurisdiction of Formation</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Percentage of direct/indirect Economic Ownership</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Principal Activities</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Massimo Group</td><td> </td> <td style="text-align: center"><span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoGroupMember_zKk0xMVYx81f" title="Date of Incorporation">October 10, 2022</td><td> </td> <td style="text-align: center"><span id="xdx_908_edei--EntityIncorporationStateCountryCode_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoGroupMember_zcLPbWOGkCzg" title="Jurisdiction of Formation">Nevada</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_907_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoGroupMember_z9flbLPeXqQ9" title="Principal Activities">Holding company</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 20%; text-align: left">Massimo Motor Sports, LLC</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center"><span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorSportsLLCMember_zxBN0sZgZe18" title="Date of Incorporation">June 30, 2009</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center"><span id="xdx_901_edei--EntityIncorporationStateCountryCode_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorSportsLLCMember_zeoDkOpgYD0f" title="Jurisdiction of Formation">Texas</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorSportsLLCMember_zqRtOSYLNyt8" title="Percentage of direct/indirect Economic Ownership">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 22%; text-align: center"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMotorSportsLLCMember_zErK8F60xVe9" title="Principal Activities">Manufacture of UTVs and ATVs</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Massimo Marine, LLC</td><td> </td> <td style="text-align: center"><span id="xdx_904_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMarineLLCMember_zvBcUEx6cZwj" title="Date of Incorporation">January 6, 2020</td><td> </td> <td style="text-align: center"><span id="xdx_900_edei--EntityIncorporationStateCountryCode_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMarineLLCMember_zNMGcBkjytW7" title="Jurisdiction of Formation">Texas</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMarineLLCMember_z9AcFl64IfKj" title="Percentage of direct/indirect Economic Ownership">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_903_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MassimoMarineLLCMember_zj4XVW3p55fb" title="Principal Activities">Manufacture of Pontoon Boats</td></tr> </table>

Massimo Group 2022-10-10 NV

Holding company

Massimo Motor Sports, LLC 2009-06-30 TX

Manufacture of UTVs and ATVs

Massimo Marine, LLC 2020-01-06 TX

Manufacture of Pontoon Boats

1000000

0.15

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements, which include the accounts of Massimo Group and its wholly owned subsidiaries, have been prepared in conformity with generally accepted accounting principles in the United States of America (GAAP). All intercompany balances and transactions have been eliminated in consolidation. Uses of estimates and assumptions In preparing the consolidated financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Significant accounting estimates required to be made by management include allowance for inventories, allowance for credit losses, sales return liabilities, warranty costs and the assessment and the disclosure of contingent liabilities. The Company evaluates its estimates and assumptions on an ongoing basis and its estimates on historical experience, current and expected future conditions and various other assumptions that management believes are reasonable under the circumstances based on the information available to management at the time these estimates and assumptions are made. Actual results and outcomes may differ significantly from these estimates and assumptions. Cash and cash equivalents Cash and cash equivalents consist of cash on hand, the balances with banks and the liquid investments with maturities of three months or less. Accounts receivable, net Accounts receivable represents trade receivable and are recognized initially at fair value and subsequently adjusted for any allowance for expected credit loss. The Company grants credit to customers, without collateral, under normal payment terms. The Company uses a loss rate method to estimate the allowance for credit losses. The Company evaluates the expected credit loss of accounts receivable based on customer financial condition and historical collection information adjusted for current market economic conditions and forecasts of future economic performance when appropriate. Loss-rate approach is based on the historical loss rates and expectations of future conditions. The Company writes off potentially uncollectible accounts receivable against the allowance for credit losses if it is determined that the amounts will not be collected. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Inventories, net Inventories are stated at the lower of cost or net realizable value, using the first-in, first out (FIFO) method. Costs include the cost of raw materials, freight and duty. Any excess of the cost over the net realizable value of each item of inventories is recognized as a provision for diminution in the value of inventories. Net realizable value is estimated using selling price in the normal course of business less any costs to complete and sell products. As of March 31, 2026 and December 31, 2025, the Company had inventory provision of $469,900 and $469,900, included in inventories, net in the condensed consolidated balance sheet. Impairment provision of inventories were nil and nil for the three months ended March 31, 2026 and 2025, respectively, included in cost of revenues in the condensed consolidated statement of operations and comprehensive income (loss). Advance to suppliers Advance to suppliers consists of balances paid to suppliers for purchasing products, parts and accessories that have not been provided or received. Advances to suppliers are short-term in nature and are reviewed periodically to determine whether their carrying value has become impaired. The Company evaluated the carrying value of individual advances based on specifics facts and circumstances for any impairment at each reporting date. For the three months ended March 31, 2026 and 2025, the Company recorded the impairment loss of nil and nil, respectively. Property and equipment <p id="xdx_891_ecustom--ScheduleOfPropertyAndEquipmentUsefulLifeTableTextBlock_zHqg0gpwkjci" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Property and equipment are recorded at cost. Depreciation is provided in amounts sufficient to amortize the cost of the related assets over their useful lives using the straight-line method, as follows: SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: center">Useful life</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Furniture and fixtures</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zSypqIb9lwr7" title="Property and equipment, estimated useful lives">5-<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zo6zymnez4Gk" title="Property and equipment, estimated useful lives">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Machinery equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zmzyAzCAiIZj" title="Property and equipment, estimated useful lives">5-<span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zneQBytXcb68" title="Property and equipment, estimated useful lives">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Electronic equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zXsLX0nCXiEe" title="Property and equipment, estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Transportation equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--TransportationEquipmentMember_zcianQi71iR4" title="Property and equipment, estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Leasehold improvement</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zTAePfbPI3T5" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23UsefulLifeTermOfLeaseMember">Over the shorter of the lease term or estimated useful lives (<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MinimumMember_zFM3ERiGQ8E5" title="Property and equipment, estimated useful lives">3-<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MaximumMember_zuHg35O9jIwk" title="Property and equipment, estimated useful lives">5 years)</td></tr> </table> Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gains or losses on disposals are determined by comparing proceeds with carrying amount and are recognized within “other income (expense)” in the condensed consolidated statements of operations and comprehensive income. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Leases The Company adopted Accounting Standards Update (“ASU”) No. 2016-02—Leases (Topic 842) since January 1, 2020, using a modified retrospective transition method permitted under ASU No. 2018-11. This transition approach provides a method for recording existing leases only at the date of adoption and does not require previously reported balances to be adjusted. The Company evaluates the contracts it enters into to determine whether such contracts contain leases. A contract contains a lease if the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. At commencement, contracts containing a lease are further evaluated for classification as an operating or finance lease where the Company is a lessee. Operating Leases For operating leases, the Company measures its lease liabilities based on the present value of the total lease payments not yet paid discounted based on the more readily determinable of the rate implicit in the lease or its incremental borrowing rate, which is the estimated rate the Company would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The Company measures right-of-use (“ROU”) assets based on the corresponding lease liability adjusted for payments made to the lessor at or before the commencement date, and initial direct costs it incurs under the lease. The Company begins recognizing lease expense when the lessor makes the underlying asset available to the Company. Lease cost for operating leases includes the amortization of the ROU asset and interest expense related to the operating lease liability. For leases with lease term less than one year (short-term leases), the Company records operating lease expense in its condensed consolidated statements of operations on a straight-line basis over the lease term and record variable lease payments as incurred. Finance Leases Lease cost for finance leases where the Company is the lessee includes the amortization of the ROU asset, which is amortized on a straight-line basis and recorded to “Depreciation of right-of-use finance asset” and interest expense on the finance lease liability, which is calculated using the interest method and recorded to “Interest expense, net.” Finance lease ROU assets are amortized over the shorter of their estimated useful lives or the terms of the respective leases, including periods covered by renewal options that the Company is reasonably certain of exercising. Impairment of long-lived assets Long-lived assets, primarily consisting of property and equipment, are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount may not be fully recoverable or that the useful life is shorter than the Company had originally estimated. When these events occur, the Company evaluates the impairment by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Company recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. No impairment charge was recognized for the three months ended March 31, 2025 and 2024, respectively. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Fair value of financial instruments ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market data.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3 — inputs to the valuation methodology are unobservable.</td></tr> </table> Unless otherwise disclosed, the fair value of the Company’s financial instruments, including cash and cash equivalents, accounts receivables, other receivable included in other current assets, loan from a related party, accounts payable, other payable, accrued expense and other liabilities, contract liabilities, approximates their recorded values due to their short-term maturities. The Company determined that the carrying value of the lease liabilities approximated their fair value as the interest rates used to discount the contracts approximate market rates. The Company noted no transfers between levels during any of the periods presented. The Company did not have any instruments that were measured at fair value on a recurring nor non-recurring basis as of March 31, 2025 and December 31, 2024. Revenue recognition The Company adopted ASC Topic 606, “Revenue from Contracts with Customers.” The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, the Company applies the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation The Company’s revenue is generated primarily by sales of UTVs, ATVs, electric bikes (“e-bikes”), and Pontoon Boats. Revenue represented the amount of consideration to which the Company expects to be entitled in exchange for promised goods. Revenue is recorded when performance obligations are considered to be satisfied when control is transferred to our customers. For sales made through our e-commerce platform, revenue is recorded upon delivery and customer acceptance. For direct sales and consignment sales, revenue is recognized when goods leave the warehouse and when customers pick up goods in stores, respectively. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Sales returns The Company provides a refund policy to accept returns from end customers, which varies and depends on different products and sales channels. The estimated sales returns are determined based upon an analysis of historical sales returns. Return allowances are recorded as a reduction in sales with corresponding sales return liabilities which are included in “accrued return liabilities.” The estimated cost of returned inventory is recorded as a reduction to cost of sales and an increase of right of return assets which is included in “inventories.” The factors affecting the Company’s sales return liabilities include the number of products currently within the return period, historical and anticipated rates of sales returns claimed on those products, and the estimated amount of returns that may be claimed within this period. If actual results differ from the estimates, the Company revises its estimated sales returns liability accordingly. At each period end, the Company reviews and reassesses the adequacy of its recorded sales returns liabilities and adjusts the amounts as necessary. As of March 31, 2026 and December 31, 2025, $11,438 and $12,166 of sales return liabilities associated with estimated product returns were recorded in the condensed consolidated balance sheet, respectively. During the three months ended March 31, 2026 and 2025, the Company recorded sales returns of $106,929 and $1,213,347, respectively. Products warranty The Company generally provides a one-year limited warranty against defects in materials related to the sale of products. The Company considers the warranty as an assurance type warranty since the warranty provides the customers the assurance that the product complies with agreed-upon specifications. Estimated future warranty obligations are included in the cost of product sales in the period in which the related revenue is recognized. The factors affecting the Company’s warranty include the number of products currently under warranty, historical and anticipated rates of warranty claim on those products, and the estimates of repair and replacement costs to satisfy the Company’s warranty obligation. The anticipated rate of warranty claims is the primary estimate used in determining the warranty liability and is relatively predictable using historical experience of failure rates. The average remaining aggregate warranty period of the products sold is calculated, repair parts are generally already in stock or available at pre-determined prices, and labor rates are generally arranged at pre-established amount with service providers. If actual results differ from the estimates, the Company revises its estimated warranty liability. Each quarter, the Company reevaluates its estimates and assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. As of March 31, 2026 and December 31, 2025, $144,419 and $152,795 of product warranty were recorded in the condensed consolidated balance sheet, respectively. During the three months ended March 31, 2026 and 2025, the Company recorded warranty expenses of $41,064 and $119,732, respectively. Contract liabilities The contract liabilities of the Company are primarily related to advances received from customers. The contract liabilities are reported in a net position on a customer-by-customer basis at the end of each reporting period. Contract liabilities are recognized when the Company receives prepayment from customers resulting from purchase order. Contract liabilities will be recognized as revenue when the products are delivered. As of March 31, 2026 and December 31, 2025, the Company recorded contract liabilities of $519,142 and $609,171, respectively, which will be recognized as revenue upon delivery of the products sold. For the three months ended March 31, 2026 and 2025, the amounts transferred from contract liabilities to revenue at the beginning of the fiscal period were $152,795 and $121,172, respectively. Disaggregation of revenues The Company disaggregates its revenue from contracts by products, as the Company believes it best depicts how the nature, amount, timing and uncertainty of the revenue and cash flows are affected by economic factors. The Company’s disaggregation of revenues by product categories for the three months ended March 31, 2026 and 2025 is disclosed as below: SCHEDULE OF DISAGGREGATION OF REVENUES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260101__20260331_zacxzrkx0Ui1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20250331_zaUz4uO23jVe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three months ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--UTVsAndATVsElectricBikesMember_zjkN4STRQ4z2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">UTVs, ATVs and e-bikes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">12,345,833</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,424,435</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--PontoonBoatsMember_zIkhTIj8WOEh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Pontoon Boats</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">369,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">514,194</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--PontoonBoatsRepurchaseCreditMember_z8Plw0cxwmX" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Pontoon Boats – repurchase credit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,036,907</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zw3tecSP6oa3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,714,996</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14,901,722</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Cost of revenues Cost of revenues includes all of the costs and expenses directly related to the production of goods and services included in revenues. Cost of revenues primarily consists of cost of products, freight and duty allocated and warehouse related overhead, such as salaries and benefits, rent, warehouse supplies and depreciation expenses. The freight and duty costs incurred when shipping raw materials from suppliers to the Company are included in cost of revenues, amounting to $1,211,671 and $1,893,537 for the three months ended March 31, 2026 and 2025, respectively. Shipping and handling costs Shipping and handling costs, which include costs related to the selection of products and their delivery to customers, are presented in selling expenses. The shipping and handling costs incurred upon goods delivery to customers are $1,212,675 and $1,250,786 for the three months ended March 31, 2026 and 2025, respectively. Advertising costs The Company expenses all advertising costs as incurred. Advertising costs presented in selling expenses were $178,235 and $257,071 for the three months ended March 31, 2026 and 2025, respectively. 401(k) benefit plan The 401(k) benefit plan covers substantially all employees and allows voluntary employee contributions up to the annually adjusted Internal Revenue Service dollar limit. These voluntary contributions are matched equal to 100% of the employee’s compensation contributed and not to exceed <span id="xdx_903_eus-gaap--DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_pid_dp_c20260101__20260331__srt--RangeAxis__srt--MaximumMember_z7Oh9aHeodN8" title="Maximum contributions percent">4% of the total eligible compensation. The employees’ voluntary contributions and the Company’s matching contributions are 100% vested immediately. The Company adopted the 401(k) benefit plan from March 2022. Income taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Income taxes (continued) The Company accounts for uncertain tax positions in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic No. 740, “Accounting for Uncertainty in Income Taxes.” A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Significant judgment is also required in evaluating the Company’s uncertain income tax positions and provisions for income taxes. Liabilities for uncertain income tax positions are recognized based on a two-step approach. The first step is to evaluate whether an income tax position has met the recognition threshold by determining if the weight of available evidence indicates that it is more likely than not to be sustained upon examination. The second step is to measure the income tax position that has met the recognition threshold as the largest amount that is more than 50% likely of being realized upon settlement. The Company continually assesses the likelihood and amount of potential adjustments and adjusts the income tax provisions, income taxes payable and deferred income taxes in the period in which the facts that give rise to a revision become known. The Company recognizes interest and penalties related to uncertain income tax positions as interest expense. Earnings per share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common shares outstanding for the period. Diluted presents the dilutive effect on a per share basis of potential common shares (e.g., Restricted Stock Units (“RSU”), options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. For the three months ended March 31, 2026 and 2025, a total of nil and nil unvested RSU were included in the computation of weighted average number of common shares for the calculation of diluted EPS. Stock-based compensation The Company follows the provisions of ASC 718, “Compensation - Stock Compensation” (“ASC 260”), which establishes the accounting for employee share-based awards. For employee share-based awards, stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense with graded vesting on a straight-line basis over the requisite service period for the entire award. Segment reporting The Company follows ASC 280, “Segment Reporting.” The Company’s Chief Executive Officer or chief operating decision-maker reviews the condensed consolidated financial results when making decisions about allocating resources and assessing the performance of the Company based on the product type. As a result, the Company has identified two reportable segments, which reflect the way the business is managed and operated. The Company operates and manages its business as two segments. As the Company’s long-lived assets are all located in the United States and substantially all the Company’s revenues are derived from within the United States, no geographical segments are presented. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Concentration and risks a. Concentration of credit risk Assets that potentially subject the Company to a significant concentration of credit risk primarily consist of cash and cash equivalents, accounts receivable and other receivable included in other current assets. The maximum exposure of such assets to credit risk is their carrying amounts at the balance sheet dates. The Company maintains all the bank accounts at financial institutions in the United States, where there is $250,000 standard deposit insurance coverage limit per depositor, per FDIC-insured bank and per ownership category. As of March 31, 2026, the balance of one bank in Massimo Motor Sports exceeded the insured limits by $<span id="xdx_90F_eus-gaap--CashUninsuredAmount_iI_c20250331__dei--LegalEntityAxis__custom--MassimoMotorSportsLLCMember__us-gaap--DebtInstrumentAxis__custom--CathayBankMember_zCMtDcDz3CUg" title="Uninsured amount">3,512,237. As of December 31, 2025, balances of two banks in Massimo Motor Sports exceeded the insured limits by $<span id="xdx_903_eus-gaap--CashUninsuredAmount_iI_c20251231__dei--LegalEntityAxis__custom--MassimoMotorSportsLLCMember__us-gaap--DebtInstrumentAxis__custom--CathayBankMember_zrbAbti92Mg9" title="Uninsured amount">1,874,095 and $<span id="xdx_902_eus-gaap--CashUninsuredAmount_iI_c20251231__dei--LegalEntityAxis__custom--MassimoMotorSportsLLCMember__us-gaap--DebtInstrumentAxis__custom--MidFirstBankMember_zNDqrQlpHsP5" title="Uninsured amount">3,119,315, respectively. To limit the exposure to credit risk relating to deposits, the Company primarily places cash deposits with large financial institutions in the United States. The Company conducts credit evaluations of its customers and generally does not require collateral or other security from them. The Company establishes an accounting policy to provide for current expected credit losses based on the individual customer’s financial condition, credit history, and the current economic conditions. b. Foreign Exchange Risk Most of our raw materials are imported from China. The value of the Chinese Yuan against the U.S. dollar is affected by the changes in China and United States economic conditions. We do not believe that we currently have any significant direct foreign exchange risk as most of our sales agreements are specified in U.S. dollars and have not used any derivative financial instruments to hedge exposure to such risk. c. Interest Rate Risk Interest rate risk is the risk that future cash flows will fluctuate as a result of changes in market interest rates. Our exposure to interest rate risk primarily relates to the interest rates from our lessors and our borrowings with banks. The related party loan bears no interest. Our leasing obligations’ interest rates are fixed at the commencement date of the leases. We have not been exposed to material risks due to the fact that our borrowing from the bank is not significant. And we have not used any derivative financial instruments to manage our interest risk exposure. However, we cannot provide assurance that we will not be exposed to material risks due to changes in market interest rate in the future. d. Liquidity Risk Liquidity risk arises through the excess of financial obligations over available financial assets due at any point in time. Our objective in mitigating liquidity risk is to maintain sufficient readily available reserves in order to meet our liquidity requirements at any point in time. We achieve this by maintaining adequate cash reserves and available banking facilities. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Concentration and risks (continued) e. Significant customers For the three months ended March 31, 2026 and 2025, one and one customer accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zkeEay1drTM6" title="Concentration risk, percentage">64% and <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_ztvS9tXLFrPe" title="Concentration risk, percentage">64% of the Company’s total revenues, respectively. As of March 31, 2026, two customers individually accounted for <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zHzyruHAxLqe" title="Concentration risk, percentage">52% and <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomerMember_z0mkXhqXB08b" title="Concentration risk, percentage">20% of the Company’s total accounts receivable. As of December 31, 2025, one customer accounted for <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zdBwGM222hA9" title="Concentration risk, percentage">84% of the Company’s total accounts receivable. f. Significant suppliers For the three months ended March 31, 2026, three suppliers individually accounted for <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--OneSupplierMember_zVflwFnmLaI8" title="Concentration risk, percentage">47%, <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoSupplierMember_zDZKuDppLcT" title="Concentration risk, percentage">12% and <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--ThreeSupplierMember_z1Jn7WWda5X8" title="Concentration risk, percentage">10% of the Company’s total purchases, respectively. For the three months ended March 31, 2025, three suppliers individually accounted for <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--OneSupplierMember_zQJyP58mP9hb" title="Concentration risk, percentage">47%, <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoSupplierMember_z3bkwd5gpir2" title="Concentration risk, percentage">12% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--ThreeSupplierMember_zFvYAFSJ5Byk" title="Concentration risk, percentage">10% of the Company’s total purchases, respectively. As of March 31, 2026, three suppliers individually accounted for <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--OneSupplierMember_zwlz0YsS2zna" title="Concentration risk, percentage">27%, <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoSupplierMember_z5eYHj7ofBqf" title="Concentration risk, percentage">12% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--ThreeSupplierMember_zcSOBuLZ2lej" title="Concentration risk, percentage">11% of the Company’s total accounts payable, respectively. As of December 31, 2025, two suppliers individually accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--OneSupplierMember_zQMvf07MrFb4">31% and <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoSupplierMember_z6cb79foxGX3">21% of the Company’s total accounts payable, respectively. Recent accounting pronouncements The Company considers the applicability and impact of all ASUs. Management periodically reviews new accounting standards that are issued. The Jumpstart Our Business Startups Act provides that an emerging growth company (“EGC”) as defined therein can take advantage of an extended transition period for complying with new or revised accounting standards. This allows an EGC to delay adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has adopted the extended transition period. In December 2023, the FASB issued ASU No. 2023-09, “Improvements to Income Tax Disclosures” (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income tax paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2025. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. This ASU will likely result in the required additional disclosures being included in the Company’s condensed consolidated financial statements, once adopted. In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures, which requires disaggregated disclosure of certain costs and expenses, including purchases of inventory, employee compensation, depreciation, amortization, and depletion, within relevant income statement captions. The guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating this ASU to determine the impact of adoption on its condensed consolidated financial statements and related disclosures. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated balance sheets, statements of income and comprehensive income and statements of cash flows. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements, which include the accounts of Massimo Group and its wholly owned subsidiaries, have been prepared in conformity with generally accepted accounting principles in the United States of America (GAAP). All intercompany balances and transactions have been eliminated in consolidation.

Uses of estimates and assumptions In preparing the consolidated financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Significant accounting estimates required to be made by management include allowance for inventories, allowance for credit losses, sales return liabilities, warranty costs and the assessment and the disclosure of contingent liabilities. The Company evaluates its estimates and assumptions on an ongoing basis and its estimates on historical experience, current and expected future conditions and various other assumptions that management believes are reasonable under the circumstances based on the information available to management at the time these estimates and assumptions are made. Actual results and outcomes may differ significantly from these estimates and assumptions.

Cash and cash equivalents Cash and cash equivalents consist of cash on hand, the balances with banks and the liquid investments with maturities of three months or less.

Accounts receivable, net Accounts receivable represents trade receivable and are recognized initially at fair value and subsequently adjusted for any allowance for expected credit loss. The Company grants credit to customers, without collateral, under normal payment terms. The Company uses a loss rate method to estimate the allowance for credit losses. The Company evaluates the expected credit loss of accounts receivable based on customer financial condition and historical collection information adjusted for current market economic conditions and forecasts of future economic performance when appropriate. Loss-rate approach is based on the historical loss rates and expectations of future conditions. The Company writes off potentially uncollectible accounts receivable against the allowance for credit losses if it is determined that the amounts will not be collected. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Inventories, net Inventories are stated at the lower of cost or net realizable value, using the first-in, first out (FIFO) method. Costs include the cost of raw materials, freight and duty. Any excess of the cost over the net realizable value of each item of inventories is recognized as a provision for diminution in the value of inventories. Net realizable value is estimated using selling price in the normal course of business less any costs to complete and sell products. As of March 31, 2026 and December 31, 2025, the Company had inventory provision of $469,900 and $469,900, included in inventories, net in the condensed consolidated balance sheet. Impairment provision of inventories were nil and nil for the three months ended March 31, 2026 and 2025, respectively, included in cost of revenues in the condensed consolidated statement of operations and comprehensive income (loss).

469900

Advance to suppliers Advance to suppliers consists of balances paid to suppliers for purchasing products, parts and accessories that have not been provided or received. Advances to suppliers are short-term in nature and are reviewed periodically to determine whether their carrying value has become impaired. The Company evaluated the carrying value of individual advances based on specifics facts and circumstances for any impairment at each reporting date. For the three months ended March 31, 2026 and 2025, the Company recorded the impairment loss of nil and nil, respectively.

Property and equipment <p id="xdx_891_ecustom--ScheduleOfPropertyAndEquipmentUsefulLifeTableTextBlock_zHqg0gpwkjci" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Property and equipment are recorded at cost. Depreciation is provided in amounts sufficient to amortize the cost of the related assets over their useful lives using the straight-line method, as follows: SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: center">Useful life</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Furniture and fixtures</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zSypqIb9lwr7" title="Property and equipment, estimated useful lives">5-<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zo6zymnez4Gk" title="Property and equipment, estimated useful lives">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Machinery equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zmzyAzCAiIZj" title="Property and equipment, estimated useful lives">5-<span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zneQBytXcb68" title="Property and equipment, estimated useful lives">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Electronic equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zXsLX0nCXiEe" title="Property and equipment, estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Transportation equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--TransportationEquipmentMember_zcianQi71iR4" title="Property and equipment, estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Leasehold improvement</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zTAePfbPI3T5" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23UsefulLifeTermOfLeaseMember">Over the shorter of the lease term or estimated useful lives (<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MinimumMember_zFM3ERiGQ8E5" title="Property and equipment, estimated useful lives">3-<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MaximumMember_zuHg35O9jIwk" title="Property and equipment, estimated useful lives">5 years)</td></tr> </table> Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gains or losses on disposals are determined by comparing proceeds with carrying amount and are recognized within “other income (expense)” in the condensed consolidated statements of operations and comprehensive income. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

<p id="xdx_891_ecustom--ScheduleOfPropertyAndEquipmentUsefulLifeTableTextBlock_zHqg0gpwkjci" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Property and equipment are recorded at cost. Depreciation is provided in amounts sufficient to amortize the cost of the related assets over their useful lives using the straight-line method, as follows: SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; width: 49%; padding-bottom: 1pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: center">Useful life</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Furniture and fixtures</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zSypqIb9lwr7" title="Property and equipment, estimated useful lives">5-<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zo6zymnez4Gk" title="Property and equipment, estimated useful lives">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Machinery equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zmzyAzCAiIZj" title="Property and equipment, estimated useful lives">5-<span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zneQBytXcb68" title="Property and equipment, estimated useful lives">7 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Electronic equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zXsLX0nCXiEe" title="Property and equipment, estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Transportation equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--TransportationEquipmentMember_zcianQi71iR4" title="Property and equipment, estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Leasehold improvement</td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zTAePfbPI3T5" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23UsefulLifeTermOfLeaseMember">Over the shorter of the lease term or estimated useful lives (<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MinimumMember_zFM3ERiGQ8E5" title="Property and equipment, estimated useful lives">3-<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MaximumMember_zuHg35O9jIwk" title="Property and equipment, estimated useful lives">5 years)</td></tr> </table>

P5Y

P7Y

P5Y

P7Y

P5Y

P3Y

P5Y

Leases The Company adopted Accounting Standards Update (“ASU”) No. 2016-02—Leases (Topic 842) since January 1, 2020, using a modified retrospective transition method permitted under ASU No. 2018-11. This transition approach provides a method for recording existing leases only at the date of adoption and does not require previously reported balances to be adjusted. The Company evaluates the contracts it enters into to determine whether such contracts contain leases. A contract contains a lease if the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. At commencement, contracts containing a lease are further evaluated for classification as an operating or finance lease where the Company is a lessee. Operating Leases For operating leases, the Company measures its lease liabilities based on the present value of the total lease payments not yet paid discounted based on the more readily determinable of the rate implicit in the lease or its incremental borrowing rate, which is the estimated rate the Company would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The Company measures right-of-use (“ROU”) assets based on the corresponding lease liability adjusted for payments made to the lessor at or before the commencement date, and initial direct costs it incurs under the lease. The Company begins recognizing lease expense when the lessor makes the underlying asset available to the Company. Lease cost for operating leases includes the amortization of the ROU asset and interest expense related to the operating lease liability. For leases with lease term less than one year (short-term leases), the Company records operating lease expense in its condensed consolidated statements of operations on a straight-line basis over the lease term and record variable lease payments as incurred. Finance Leases Lease cost for finance leases where the Company is the lessee includes the amortization of the ROU asset, which is amortized on a straight-line basis and recorded to “Depreciation of right-of-use finance asset” and interest expense on the finance lease liability, which is calculated using the interest method and recorded to “Interest expense, net.” Finance lease ROU assets are amortized over the shorter of their estimated useful lives or the terms of the respective leases, including periods covered by renewal options that the Company is reasonably certain of exercising.

Impairment of long-lived assets Long-lived assets, primarily consisting of property and equipment, are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount may not be fully recoverable or that the useful life is shorter than the Company had originally estimated. When these events occur, the Company evaluates the impairment by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Company recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. No impairment charge was recognized for the three months ended March 31, 2025 and 2024, respectively. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Fair value of financial instruments ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market data.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3 — inputs to the valuation methodology are unobservable.</td></tr> </table> Unless otherwise disclosed, the fair value of the Company’s financial instruments, including cash and cash equivalents, accounts receivables, other receivable included in other current assets, loan from a related party, accounts payable, other payable, accrued expense and other liabilities, contract liabilities, approximates their recorded values due to their short-term maturities. The Company determined that the carrying value of the lease liabilities approximated their fair value as the interest rates used to discount the contracts approximate market rates. The Company noted no transfers between levels during any of the periods presented. The Company did not have any instruments that were measured at fair value on a recurring nor non-recurring basis as of March 31, 2025 and December 31, 2024.

Revenue recognition The Company adopted ASC Topic 606, “Revenue from Contracts with Customers.” The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, the Company applies the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation The Company’s revenue is generated primarily by sales of UTVs, ATVs, electric bikes (“e-bikes”), and Pontoon Boats. Revenue represented the amount of consideration to which the Company expects to be entitled in exchange for promised goods. Revenue is recorded when performance obligations are considered to be satisfied when control is transferred to our customers. For sales made through our e-commerce platform, revenue is recorded upon delivery and customer acceptance. For direct sales and consignment sales, revenue is recognized when goods leave the warehouse and when customers pick up goods in stores, respectively. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Sales returns The Company provides a refund policy to accept returns from end customers, which varies and depends on different products and sales channels. The estimated sales returns are determined based upon an analysis of historical sales returns. Return allowances are recorded as a reduction in sales with corresponding sales return liabilities which are included in “accrued return liabilities.” The estimated cost of returned inventory is recorded as a reduction to cost of sales and an increase of right of return assets which is included in “inventories.” The factors affecting the Company’s sales return liabilities include the number of products currently within the return period, historical and anticipated rates of sales returns claimed on those products, and the estimated amount of returns that may be claimed within this period. If actual results differ from the estimates, the Company revises its estimated sales returns liability accordingly. At each period end, the Company reviews and reassesses the adequacy of its recorded sales returns liabilities and adjusts the amounts as necessary. As of March 31, 2026 and December 31, 2025, $11,438 and $12,166 of sales return liabilities associated with estimated product returns were recorded in the condensed consolidated balance sheet, respectively. During the three months ended March 31, 2026 and 2025, the Company recorded sales returns of $106,929 and $1,213,347, respectively. Products warranty The Company generally provides a one-year limited warranty against defects in materials related to the sale of products. The Company considers the warranty as an assurance type warranty since the warranty provides the customers the assurance that the product complies with agreed-upon specifications. Estimated future warranty obligations are included in the cost of product sales in the period in which the related revenue is recognized. The factors affecting the Company’s warranty include the number of products currently under warranty, historical and anticipated rates of warranty claim on those products, and the estimates of repair and replacement costs to satisfy the Company’s warranty obligation. The anticipated rate of warranty claims is the primary estimate used in determining the warranty liability and is relatively predictable using historical experience of failure rates. The average remaining aggregate warranty period of the products sold is calculated, repair parts are generally already in stock or available at pre-determined prices, and labor rates are generally arranged at pre-established amount with service providers. If actual results differ from the estimates, the Company revises its estimated warranty liability. Each quarter, the Company reevaluates its estimates and assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. As of March 31, 2026 and December 31, 2025, $144,419 and $152,795 of product warranty were recorded in the condensed consolidated balance sheet, respectively. During the three months ended March 31, 2026 and 2025, the Company recorded warranty expenses of $41,064 and $119,732, respectively. Contract liabilities The contract liabilities of the Company are primarily related to advances received from customers. The contract liabilities are reported in a net position on a customer-by-customer basis at the end of each reporting period. Contract liabilities are recognized when the Company receives prepayment from customers resulting from purchase order. Contract liabilities will be recognized as revenue when the products are delivered. As of March 31, 2026 and December 31, 2025, the Company recorded contract liabilities of $519,142 and $609,171, respectively, which will be recognized as revenue upon delivery of the products sold. For the three months ended March 31, 2026 and 2025, the amounts transferred from contract liabilities to revenue at the beginning of the fiscal period were $152,795 and $121,172, respectively. Disaggregation of revenues The Company disaggregates its revenue from contracts by products, as the Company believes it best depicts how the nature, amount, timing and uncertainty of the revenue and cash flows are affected by economic factors. The Company’s disaggregation of revenues by product categories for the three months ended March 31, 2026 and 2025 is disclosed as below: SCHEDULE OF DISAGGREGATION OF REVENUES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260101__20260331_zacxzrkx0Ui1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20250331_zaUz4uO23jVe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three months ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--UTVsAndATVsElectricBikesMember_zjkN4STRQ4z2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">UTVs, ATVs and e-bikes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">12,345,833</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,424,435</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--PontoonBoatsMember_zIkhTIj8WOEh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Pontoon Boats</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">369,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">514,194</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--PontoonBoatsRepurchaseCreditMember_z8Plw0cxwmX" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Pontoon Boats – repurchase credit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,036,907</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zw3tecSP6oa3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,714,996</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14,901,722</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

11438

12166

106929 1213347

144419

152795

41064

119732

519142

609171

152795

121172

The Company’s disaggregation of revenues by product categories for the three months ended March 31, 2026 and 2025 is disclosed as below: SCHEDULE OF DISAGGREGATION OF REVENUES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260101__20260331_zacxzrkx0Ui1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20250331_zaUz4uO23jVe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three months ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--UTVsAndATVsElectricBikesMember_zjkN4STRQ4z2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">UTVs, ATVs and e-bikes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">12,345,833</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,424,435</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--PontoonBoatsMember_zIkhTIj8WOEh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Pontoon Boats</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">369,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">514,194</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--PontoonBoatsRepurchaseCreditMember_z8Plw0cxwmX" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Pontoon Boats – repurchase credit</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,036,907</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zw3tecSP6oa3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,714,996</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">14,901,722</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

12345833

15424435

369163

514194

-1036907

12714996

14901722

Cost of revenues Cost of revenues includes all of the costs and expenses directly related to the production of goods and services included in revenues. Cost of revenues primarily consists of cost of products, freight and duty allocated and warehouse related overhead, such as salaries and benefits, rent, warehouse supplies and depreciation expenses. The freight and duty costs incurred when shipping raw materials from suppliers to the Company are included in cost of revenues, amounting to $1,211,671 and $1,893,537 for the three months ended March 31, 2026 and 2025, respectively.

1211671 1893537 Shipping and handling costs Shipping and handling costs, which include costs related to the selection of products and their delivery to customers, are presented in selling expenses. The shipping and handling costs incurred upon goods delivery to customers are $1,212,675 and $1,250,786 for the three months ended March 31, 2026 and 2025, respectively. 1212675 1250786

Advertising costs The Company expenses all advertising costs as incurred. Advertising costs presented in selling expenses were $178,235 and $257,071 for the three months ended March 31, 2026 and 2025, respectively.

178235

257071

401(k) benefit plan The 401(k) benefit plan covers substantially all employees and allows voluntary employee contributions up to the annually adjusted Internal Revenue Service dollar limit. These voluntary contributions are matched equal to 100% of the employee’s compensation contributed and not to exceed <span id="xdx_903_eus-gaap--DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_pid_dp_c20260101__20260331__srt--RangeAxis__srt--MaximumMember_z7Oh9aHeodN8" title="Maximum contributions percent">4% of the total eligible compensation. The employees’ voluntary contributions and the Company’s matching contributions are 100% vested immediately. The Company adopted the 401(k) benefit plan from March 2022.

0.04

Income taxes Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Income taxes (continued) The Company accounts for uncertain tax positions in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic No. 740, “Accounting for Uncertainty in Income Taxes.” A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Significant judgment is also required in evaluating the Company’s uncertain income tax positions and provisions for income taxes. Liabilities for uncertain income tax positions are recognized based on a two-step approach. The first step is to evaluate whether an income tax position has met the recognition threshold by determining if the weight of available evidence indicates that it is more likely than not to be sustained upon examination. The second step is to measure the income tax position that has met the recognition threshold as the largest amount that is more than 50% likely of being realized upon settlement. The Company continually assesses the likelihood and amount of potential adjustments and adjusts the income tax provisions, income taxes payable and deferred income taxes in the period in which the facts that give rise to a revision become known. The Company recognizes interest and penalties related to uncertain income tax positions as interest expense.

Earnings per share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common shares outstanding for the period. Diluted presents the dilutive effect on a per share basis of potential common shares (e.g., Restricted Stock Units (“RSU”), options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. For the three months ended March 31, 2026 and 2025, a total of nil and nil unvested RSU were included in the computation of weighted average number of common shares for the calculation of diluted EPS.

Stock-based compensation The Company follows the provisions of ASC 718, “Compensation - Stock Compensation” (“ASC 260”), which establishes the accounting for employee share-based awards. For employee share-based awards, stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense with graded vesting on a straight-line basis over the requisite service period for the entire award.

Segment reporting The Company follows ASC 280, “Segment Reporting.” The Company’s Chief Executive Officer or chief operating decision-maker reviews the condensed consolidated financial results when making decisions about allocating resources and assessing the performance of the Company based on the product type. As a result, the Company has identified two reportable segments, which reflect the way the business is managed and operated. The Company operates and manages its business as two segments. As the Company’s long-lived assets are all located in the United States and substantially all the Company’s revenues are derived from within the United States, no geographical segments are presented. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Concentration and risks a. Concentration of credit risk Assets that potentially subject the Company to a significant concentration of credit risk primarily consist of cash and cash equivalents, accounts receivable and other receivable included in other current assets. The maximum exposure of such assets to credit risk is their carrying amounts at the balance sheet dates. The Company maintains all the bank accounts at financial institutions in the United States, where there is $250,000 standard deposit insurance coverage limit per depositor, per FDIC-insured bank and per ownership category. As of March 31, 2026, the balance of one bank in Massimo Motor Sports exceeded the insured limits by $<span id="xdx_90F_eus-gaap--CashUninsuredAmount_iI_c20250331__dei--LegalEntityAxis__custom--MassimoMotorSportsLLCMember__us-gaap--DebtInstrumentAxis__custom--CathayBankMember_zCMtDcDz3CUg" title="Uninsured amount">3,512,237. As of December 31, 2025, balances of two banks in Massimo Motor Sports exceeded the insured limits by $<span id="xdx_903_eus-gaap--CashUninsuredAmount_iI_c20251231__dei--LegalEntityAxis__custom--MassimoMotorSportsLLCMember__us-gaap--DebtInstrumentAxis__custom--CathayBankMember_zrbAbti92Mg9" title="Uninsured amount">1,874,095 and $<span id="xdx_902_eus-gaap--CashUninsuredAmount_iI_c20251231__dei--LegalEntityAxis__custom--MassimoMotorSportsLLCMember__us-gaap--DebtInstrumentAxis__custom--MidFirstBankMember_zNDqrQlpHsP5" title="Uninsured amount">3,119,315, respectively. To limit the exposure to credit risk relating to deposits, the Company primarily places cash deposits with large financial institutions in the United States. The Company conducts credit evaluations of its customers and generally does not require collateral or other security from them. The Company establishes an accounting policy to provide for current expected credit losses based on the individual customer’s financial condition, credit history, and the current economic conditions. b. Foreign Exchange Risk Most of our raw materials are imported from China. The value of the Chinese Yuan against the U.S. dollar is affected by the changes in China and United States economic conditions. We do not believe that we currently have any significant direct foreign exchange risk as most of our sales agreements are specified in U.S. dollars and have not used any derivative financial instruments to hedge exposure to such risk. c. Interest Rate Risk Interest rate risk is the risk that future cash flows will fluctuate as a result of changes in market interest rates. Our exposure to interest rate risk primarily relates to the interest rates from our lessors and our borrowings with banks. The related party loan bears no interest. Our leasing obligations’ interest rates are fixed at the commencement date of the leases. We have not been exposed to material risks due to the fact that our borrowing from the bank is not significant. And we have not used any derivative financial instruments to manage our interest risk exposure. However, we cannot provide assurance that we will not be exposed to material risks due to changes in market interest rate in the future. d. Liquidity Risk Liquidity risk arises through the excess of financial obligations over available financial assets due at any point in time. Our objective in mitigating liquidity risk is to maintain sufficient readily available reserves in order to meet our liquidity requirements at any point in time. We achieve this by maintaining adequate cash reserves and available banking facilities. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Concentration and risks (continued) e. Significant customers For the three months ended March 31, 2026 and 2025, one and one customer accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zkeEay1drTM6" title="Concentration risk, percentage">64% and <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_ztvS9tXLFrPe" title="Concentration risk, percentage">64% of the Company’s total revenues, respectively. As of March 31, 2026, two customers individually accounted for <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zHzyruHAxLqe" title="Concentration risk, percentage">52% and <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomerMember_z0mkXhqXB08b" title="Concentration risk, percentage">20% of the Company’s total accounts receivable. As of December 31, 2025, one customer accounted for <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zdBwGM222hA9" title="Concentration risk, percentage">84% of the Company’s total accounts receivable. f. Significant suppliers For the three months ended March 31, 2026, three suppliers individually accounted for <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--OneSupplierMember_zVflwFnmLaI8" title="Concentration risk, percentage">47%, <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoSupplierMember_zDZKuDppLcT" title="Concentration risk, percentage">12% and <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--ThreeSupplierMember_z1Jn7WWda5X8" title="Concentration risk, percentage">10% of the Company’s total purchases, respectively. For the three months ended March 31, 2025, three suppliers individually accounted for <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--OneSupplierMember_zQJyP58mP9hb" title="Concentration risk, percentage">47%, <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoSupplierMember_z3bkwd5gpir2" title="Concentration risk, percentage">12% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--ThreeSupplierMember_zFvYAFSJ5Byk" title="Concentration risk, percentage">10% of the Company’s total purchases, respectively. As of March 31, 2026, three suppliers individually accounted for <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--OneSupplierMember_zwlz0YsS2zna" title="Concentration risk, percentage">27%, <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoSupplierMember_z5eYHj7ofBqf" title="Concentration risk, percentage">12% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--ThreeSupplierMember_zcSOBuLZ2lej" title="Concentration risk, percentage">11% of the Company’s total accounts payable, respectively. As of December 31, 2025, two suppliers individually accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--OneSupplierMember_zQMvf07MrFb4">31% and <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoSupplierMember_z6cb79foxGX3">21% of the Company’s total accounts payable, respectively.

250000

3512237

1874095

3119315

0.64

0.52

0.20

0.84

0.47

0.12

0.10

0.47

0.12

0.10

0.27

0.12

0.11

0.31

0.21

Recent accounting pronouncements The Company considers the applicability and impact of all ASUs. Management periodically reviews new accounting standards that are issued. The Jumpstart Our Business Startups Act provides that an emerging growth company (“EGC”) as defined therein can take advantage of an extended transition period for complying with new or revised accounting standards. This allows an EGC to delay adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has adopted the extended transition period. In December 2023, the FASB issued ASU No. 2023-09, “Improvements to Income Tax Disclosures” (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income tax paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2025. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. This ASU will likely result in the required additional disclosures being included in the Company’s condensed consolidated financial statements, once adopted. In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures, which requires disaggregated disclosure of certain costs and expenses, including purchases of inventory, employee compensation, depreciation, amortization, and depletion, within relevant income statement captions. The guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating this ASU to determine the impact of adoption on its condensed consolidated financial statements and related disclosures. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated balance sheets, statements of income and comprehensive income and statements of cash flows.

NOTE 3 — ACCOUNTS RECEIVABLE, NET <p id="xdx_89D_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zGb2miOBx9Uk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The Company’s accounts receivable as of March 31, 2026 and December 31, 2025 consists of the following: SCHEDULE OF ACCOUNTS RECEIVABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260331_zVzBf55y3T64" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231_zHUJxSdL0y11" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsReceivableGrossCurrent_iI_maARNCzzWS_z2ihzwkeYjq7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,555,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,820,911</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_msARNCzzWS_zVE2TJQpe3Ce" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: allowance for credit loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(467,879</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(493,874</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableNetCurrent_iTI_mtARNCzzWS_zeyjJurIUFbg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,087,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,327,037</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company recorded a reverse of allowance for credit loss of $109,682 and an addition of allowance for credit loss of $50,009 for the three months ended March 31, 2026 and 2025, respectively. <p id="xdx_898_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zBANSbSip805" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The movement of allowance for credit loss are as follows: SCHEDULE OF MOVEMENT OF ALLOWANCE FOR CREDIT LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260331_zXT6T94K7SU2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20251231_zpSQl3pYLFy7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_z8n7FHH8AW39" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">493,874</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">384,192</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AdditionReversalOfProvision_zXwtwicHZfEj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Addition (reversal) of provision</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(25,995</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">109,682</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_zj2OesUnYNZ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">467,879</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">493,874</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company’s accounts receivable balances as of March 31, 2026 and December 31, 2025 are pledged for its line of credit facility at Cathay Bank.

<p id="xdx_89D_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zGb2miOBx9Uk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The Company’s accounts receivable as of March 31, 2026 and December 31, 2025 consists of the following: SCHEDULE OF ACCOUNTS RECEIVABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260331_zVzBf55y3T64" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231_zHUJxSdL0y11" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsReceivableGrossCurrent_iI_maARNCzzWS_z2ihzwkeYjq7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,555,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,820,911</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_msARNCzzWS_zVE2TJQpe3Ce" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: allowance for credit loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(467,879</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(493,874</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableNetCurrent_iTI_mtARNCzzWS_zeyjJurIUFbg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,087,261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,327,037</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4555140

5820911

467879

493874

4087261

5327037

109682

50009

<p id="xdx_898_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zBANSbSip805" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The movement of allowance for credit loss are as follows: SCHEDULE OF MOVEMENT OF ALLOWANCE FOR CREDIT LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260331_zXT6T94K7SU2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20251231_zpSQl3pYLFy7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_z8n7FHH8AW39" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">493,874</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">384,192</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AdditionReversalOfProvision_zXwtwicHZfEj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Addition (reversal) of provision</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(25,995</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">109,682</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_zj2OesUnYNZ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">467,879</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">493,874</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

493874

384192

-25995 109682

467879

493874

NOTE 4 — INVENTORIES, NET Inventories, net as of March 31, 2026 and December 31, 2025 consist of the following: SCHEDULE OF INVENTORIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260331_zBTic7LQHYtc" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231_zMoTdvlHjKDg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--InventoryFinishedGoods_iI_maIGzTbU_z4EmryQyC60a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Products and accessories</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,892,009</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,991,092</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InventoryRawMaterials_iI_maIGzTbU_zRIRQcVeiWWk" style="vertical-align: bottom; background-color: White"> <td>Parts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,617,385</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,181,292</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherInventoryInTransit_iI_maIGzTbU_zkF891JFd9Ba" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inventories in transit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,014,472</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,664,403</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--InventoryFreightAndDuty_iI_maIGzTbU_z9uMywpTa1Y2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Freight and duty</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,883,592</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,640,666</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryGross_iTI_mtIGzTbU_maINz19h_zOkjiYmxG4hk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Inventory, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,407,458</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,477,453</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InventoryAdjustments_iNI_di_msINz19h_zjA4pHTxlPT8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: inventory allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(469,900</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(469,900</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--InventoryNet_iTI_mtINz19h_zKmHH8zwgXvi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Inventories, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">23,937,558</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">26,007,553</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 4 — INVENTORIES (continued) The inventory allowance movement is as follows: SCHEDULE OF INVENTORY ALLOWANCE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260101__20260331_zPYLLTMJqaP" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231_znYCzxhJKF9e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--InventoryAdjustments_iS_z8haDIf8d4ll" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">469,900</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">469,900</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ProductionRelatedImpairmentsOrCharges_zURpyMgbKpHh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Addition of provision</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--InventoryAdjustments_iE_z5LPKWoUJSx4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">469,900</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">469,900</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Impairment provision of inventories recorded for lower of cost or net realizable value adjustments were nil and nil for the three months ended March 31, 2026 and 2025, respectively. Partial inventories of $19,150,046 and $20,806,042 as of March 31, 2026 and December 31, 2025, respectively were pledged for the Company’s line of credit facility at Cathay Bank.

Inventories, net as of March 31, 2026 and December 31, 2025 consist of the following: SCHEDULE OF INVENTORIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260331_zBTic7LQHYtc" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231_zMoTdvlHjKDg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--InventoryFinishedGoods_iI_maIGzTbU_z4EmryQyC60a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Products and accessories</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,892,009</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,991,092</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InventoryRawMaterials_iI_maIGzTbU_zRIRQcVeiWWk" style="vertical-align: bottom; background-color: White"> <td>Parts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,617,385</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,181,292</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherInventoryInTransit_iI_maIGzTbU_zkF891JFd9Ba" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inventories in transit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,014,472</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,664,403</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--InventoryFreightAndDuty_iI_maIGzTbU_z9uMywpTa1Y2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Freight and duty</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,883,592</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,640,666</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryGross_iTI_mtIGzTbU_maINz19h_zOkjiYmxG4hk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Inventory, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,407,458</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,477,453</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InventoryAdjustments_iNI_di_msINz19h_zjA4pHTxlPT8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: inventory allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(469,900</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(469,900</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--InventoryNet_iTI_mtINz19h_zKmHH8zwgXvi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Inventories, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">23,937,558</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">26,007,553</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

15892009

15991092

2617385

2181292

1014472

3664403

4883592 4640666

24407458

26477453

469900

23937558

26007553

The inventory allowance movement is as follows: SCHEDULE OF INVENTORY ALLOWANCE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260101__20260331_zPYLLTMJqaP" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20251231_znYCzxhJKF9e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--InventoryAdjustments_iS_z8haDIf8d4ll" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">469,900</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">469,900</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ProductionRelatedImpairmentsOrCharges_zURpyMgbKpHh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Addition of provision</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--InventoryAdjustments_iE_z5LPKWoUJSx4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">469,900</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">469,900</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

469900

19150046 20806042 NOTE 5 — ADVANCE TO SUPPLIERS Advance to suppliers consists of the following: SCHEDULE OF ADVANCE TO SUPPLIERS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260331_zs8xoAMtk7d8" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231_z6h1rXcGkV4c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--AdvanceToSuppliersGrossCurrent_iI_maATSNCzdvb_zzcxlmGZN631" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Advance to suppliers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">194,971</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">193,403</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ImpairmentOfAdvanceToSuppliers_iNI_di_msATSNCzdvb_zVuUND0bPuY8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: impairment of advance to suppliers</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AdvanceToSuppliersNetCurrent_iTI_mtATSNCzdvb_zjmlT3rOGPOj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Advance to suppliers, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">194,971</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">193,403</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> An impairment of advance to suppliers of nil and nil was recorded during the three months ended March 31, 2026 and 2025. Advance to suppliers consists of the following: SCHEDULE OF ADVANCE TO SUPPLIERS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260331_zs8xoAMtk7d8" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20251231_z6h1rXcGkV4c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--AdvanceToSuppliersGrossCurrent_iI_maATSNCzdvb_zzcxlmGZN631" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Advance to suppliers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">194,971</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">193,403</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ImpairmentOfAdvanceToSuppliers_iNI_di_msATSNCzdvb_zVuUND0bPuY8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: impairment of advance to suppliers</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--AdvanceToSuppliersNetCurrent_iTI_mtATSNCzdvb_zjmlT3rOGPOj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Advance to suppliers, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">194,971</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">193,403</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 194971 193403 194971 193403 NOTE 6 — PREPAID AND OTHER CURRENT ASSETS <p id="xdx_897_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zpwv2VXiUJwk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Prepaid and other current assets consist of the following: SCHEDULE OF PREPAID AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260331_zfhsxiEbsDgc" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20251231_zyEvrA7IeVt2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--PrepaidExpenseCurrent_iI_maOAz6Fr_maPEAOAzLnf_zKGrCIZKeUZ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Prepayment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">307,548</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,264,128</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherReceivables_iI_maOAz6Fr_maPEAOAzLnf_zHPLF7gyn09k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other receivables</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">233,010</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">267,129</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAzLnf_zcHGObn15Yye" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">540,558</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,531,257</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

<p id="xdx_897_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zpwv2VXiUJwk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Prepaid and other current assets consist of the following: SCHEDULE OF PREPAID AND OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260331_zfhsxiEbsDgc" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20251231_zyEvrA7IeVt2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--PrepaidExpenseCurrent_iI_maOAz6Fr_maPEAOAzLnf_zKGrCIZKeUZ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Prepayment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">307,548</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,264,128</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherReceivables_iI_maOAz6Fr_maPEAOAzLnf_zHPLF7gyn09k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other receivables</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">233,010</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">267,129</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAzLnf_zcHGObn15Yye" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">540,558</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,531,257</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

307548

2264128

233010

267129

540558

2531257

NOTE 7 — PROPERTY AND EQUIPMENT, NET Property and equipment, net, consist of the following: SCHEDULE OF PROPERTY AND EQUIPMENT, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260331_zNQ3C4rwReQ7" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20251231_zlAARPWxFG6d" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zGGhq2Egxigd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Furniture and Fixtures</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">125,977</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">125,977</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zp7kUit0unXb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Machinery equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">360,868</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">360,868</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zlT7Qqw06jle" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vehicles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">737,086</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">539,028</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zEdlXr8Q8EC8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,303</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,303</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zrS9t6SyApI9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Leasehold improvement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">90,974</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">90,974</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzjgl_zXOt07eKQ7Pi" style="vertical-align: bottom; background-color: White"> <td>Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,350,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,152,150</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzjgl_zLSEqOTNyUe5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(705,082</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(696,072</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzjgl_zfEZyridyOx4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">645,126</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">456,078</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company recorded depreciation expense of $39,062 and $33,502 for the three months ended March 31, 2026 and 2025, respectively. No impairment loss was recorded for the three months ended March 31, 2026 and 2025.

Property and equipment, net, consist of the following: SCHEDULE OF PROPERTY AND EQUIPMENT, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260331_zNQ3C4rwReQ7" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20251231_zlAARPWxFG6d" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zGGhq2Egxigd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Furniture and Fixtures</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">125,977</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">125,977</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zp7kUit0unXb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Machinery equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">360,868</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">360,868</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zlT7Qqw06jle" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vehicles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">737,086</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">539,028</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ElectronicEquipmentMember_zEdlXr8Q8EC8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,303</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,303</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zrS9t6SyApI9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Leasehold improvement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">90,974</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">90,974</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzjgl_zXOt07eKQ7Pi" style="vertical-align: bottom; background-color: White"> <td>Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,350,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,152,150</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzjgl_zLSEqOTNyUe5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(705,082</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(696,072</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzjgl_zfEZyridyOx4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">645,126</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">456,078</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

125977

360868

737086

539028

35303

90974

1350208

1152150

705082

696072

645126

456078

39062

33502

NOTE 8 — LEASES On August 1, 2018, the Company signed a lease agreement with Miller Creek Holding LLC, a related party owned by the controlling shareholder, to lease the warehouse and office space of total <span id="xdx_907_eus-gaap--AreaOfLand_iI_uSqft_c20180801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember_zxK0AIEFLir1" title="Warehouse and office space, rent">220,000 square feet for Massimo Motor with monthly rent of $<span id="xdx_903_eus-gaap--PaymentsForRent_c20180801__20180801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember_z7mXPSQFh1Sl" title="Payments for monthly rent">40,000 used for its operation. The lease expired on <span id="xdx_908_eus-gaap--LeaseExpirationDate1_dd_c20180801__20180801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember_zAs1H7EySlCb" title="Lease expired">July 31, 2021 and was further renewed for another <span id="xdx_904_eus-gaap--LesseeOperatingLeaseRenewalTerm_iI_dc_c20180801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember__us-gaap--LeaseContractualTermAxis__custom--AnotherThreeYearsMember_zz6ZO42TPf2" title="Lease renewal term">three years and expired on <span id="xdx_904_eus-gaap--LeaseExpirationDate1_dd_c20180801__20180801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember__us-gaap--LeaseContractualTermAxis__custom--AnotherThreeYearsMember_zZPDT1HvLn0c" title="Lease expired">July 31, 2024 with monthly rent of $<span id="xdx_903_eus-gaap--PaymentsForRent_c20180801__20180801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember__us-gaap--LeaseContractualTermAxis__custom--AnotherThreeYearsMember_zs32C8U8PNsf" title="Payments for monthly rent">60,000. On August 1, 2024, the lease was further renewed for another <span id="xdx_90D_eus-gaap--LesseeOperatingLeaseRenewalTerm_iI_dc_c20240801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember_zNjLjyulaNng" title="Lease renewal term">five years and will expire on <span id="xdx_90D_eus-gaap--LeaseExpirationDate1_dd_c20240801__20240801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember_zoDxOaIjNnbi" title="Lease expired">July 31, 2029 with monthly rent of $<span id="xdx_90F_eus-gaap--PaymentsForRent_c20240801__20240801__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember_zhkRsr7mQBY6" title="Payments for monthly rent">145,750. On April 29, 2023, the Company signed another lease agreement with Miller Creek Holding LLC, to rent the warehouse and office space of total <span id="xdx_90C_eus-gaap--AreaOfLand_iI_uSqft_c20230429__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember_zzYYCVXoEH06" title="Warehouse and office space, rent">66,000 square feet for Massimo Marine with monthly rent of $<span id="xdx_909_eus-gaap--PaymentsForRent_c20230429__20230429__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember_zRYwl0r0Nbof" title="Monthly rent">35,000 used for its operation. The lease will expire on <span id="xdx_902_eus-gaap--LeaseExpirationDate1_c20230429__20230429__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember_z1VC7w5PhSqc" title="Lease expiration date">April 30, 2026. On May 1, 2024, the Company signed another two lease agreements with Miller Creek Holding LLC, to rent additional warehouse and office space of <span id="xdx_909_eus-gaap--AreaOfLand_iI_uSqft_c20240501__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__us-gaap--TypeOfArrangementAxis__custom--TwoLeaseAgreementsMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__srt--WarehouseMember_zRhy44TXnUEd" title="Area of land">60,000 square feet and <span id="xdx_900_eus-gaap--AreaOfLand_iI_uSqft_c20240501__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__us-gaap--TypeOfArrangementAxis__custom--TwoLeaseAgreementsMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeSpaceMember_zbmE9X00FOD4" title="Area of land">30,000 square feet for monthly rent of $<span id="xdx_900_eus-gaap--PaymentsForRent_c20240501__20240501__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__us-gaap--TypeOfArrangementAxis__custom--TwoLeaseAgreementsMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__srt--WarehouseMember_zCELsxqd2go4" title="Payments for monthly rent">33,000 and $<span id="xdx_908_eus-gaap--PaymentsForRent_c20240501__20240501__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__us-gaap--TypeOfArrangementAxis__custom--TwoLeaseAgreementsMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeSpaceMember_zL51H7aPnRZ6" title="Payments for monthly rent">16,500 used for Massimo Motor and Massimo Marine’s operations, respectively. The leases will expire on <span id="xdx_90E_eus-gaap--LeaseExpirationDate1_dd_c20240501__20240501__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingLLCMember__us-gaap--TypeOfArrangementAxis__custom--TwoLeaseAgreementsMember__srt--TitleOfIndividualAxis__custom--MrDavidShanMember_z1AScm2youyg" title="Lease expiration date">August 31, 2029. The Company also had multiple lease agreements for machinery, office equipment and vehicles with other companies. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Total operating lease expense for the three months ended March 31, 2026 and 2025 amounted to $717,143 and $716,942, respectively. Amortization of operating lease right-of-use assets amounted to $551,505 and $512,277 for the three months ended March 31, 2026 and 2025, respectively. Total accretion of finance lease liabilities for the three months ended March 31, 2026 and 2025 amounted to $438 and $895, respectively. Amortization of finance lease right-of-use assets amounted to $10,380 and $10,149 for the three months ended March 31, 2026 and 2025, respectively. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 8 — LEASES (continued) Supplemental balance sheet information related to operating and financing leases was as follows: SCHEDULE OF SUPPLEMENTAL BALANCE INFORMATION Operating leases <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260331_z6M8yj8kZHl9" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20251231_zxRv2ExDB1l9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityCurrent_iI_maOLLziXT_zwQwTtEQZXZb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease liabilities – current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,878,122</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,956,045</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_maOLLziXT_zXiGRU6ZE264" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Operating lease liabilities - non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,983,516</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,456,648</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_iTI_mtOLLziXT_zKdK9LQ80c46" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,861,638</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,412,693</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Financing leases <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260331_zgWm3uTd7Vig" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20251231_zL0DbsYLSAS2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--FinanceLeaseLiabilityCurrent_iI_maFLLzxiq_zPrDhULNJD61" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Finance lease liabilities – current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,785</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">23,927</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_maFLLzxiq_zd04XcTWuCga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Finance lease liabilities - non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,675</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,676</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiability_iTI_mtFLLzxiq_zZjt4zpOHaR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">22,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">33,603</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_893_eus-gaap--ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_zwHzzB2jD5pg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following table includes supplemental cash flow and non-cash information related to leases: SCHEDULE OF SUPPLEMENTAL CASH FLOW AND NON-CASH INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_497_20260101__20260331_zkONRbZMhqXa" style="font-weight: bold; text-align: center">Three months ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20250101__20250331_zsPlTv9TsHFg" style="font-weight: bold; text-align: center">Three months ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid of amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeasePayments_zHwuSFATNhDf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Operating cash flows used in operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">551,055</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">716,942</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinanceLeaseInterestPaymentOnLiability_zEnxk1wsRotg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating cash flows used in finance leases</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">895</td><td style="text-align: left"></td></tr> <tr id="xdx_403_eus-gaap--PaymentsOfFinancingCosts_zrLp0QYh5l3j" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Financing cash flows used in finance leases</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">11,582</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">10,686</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets obtained in exchange for lease obligations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability_zBTWF4p5VnP" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Finance lease liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_zN9u68cZADYd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating lease liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">424,170</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_897_ecustom--ScheduleOfWeightedAverageRemainingLeaseTermsAndDiscountRatesOperatingAndFinanceLeasesTableTextBlock_zToi7Q8djXC1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The weighted average remaining lease terms and discount rates for all of operating lease and finance leases were as follows: SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERMS AND DISCOUNT RATES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted-average remaining lease term (years):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Finance lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.15 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.31 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.18 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.53 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average discount rate:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Finance leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5.80</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5.69</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.50</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.55</td><td style="text-align: left">%</td></tr> </table> MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 8 — LEASES (continued) <p id="xdx_89D_ecustom--ScheduleOfMaturitiesOfOperatingAndFinanceLeaseLiabilitiesTableTextBlock_zVNNSmsTEEY" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following is a schedule of maturities of operating and finance lease liabilities as of March 31, 2025: SCHEDULE OF MATURITIES OF OPERATING AND FINANCE LEASE LIABILITIES Operating leases <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Twelve months ending March 31,</td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20260331_zazJuP8ke5Vj" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_iB_z2ahEkkYAJU7" style="vertical-align: bottom; background-color: White"> <td>Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_maLOLLPzM91_ziIVtFqeao0d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,387,799</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_maLOLLPzM91_zeblNwQtkj18" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,343,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_maLOLLPzM91_z1IF4hqwxfAg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,343,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_i01I_maLOLLPzM91_zQM3df1DSPC8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">830,500</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_i01I_maLOLLPzM91_zCC6uCBpKWK7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">2030</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_i01TI_mtLOLLPzM91_zL4RRXRO6lV6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,904,299</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_i01NI_di_zaDK6sGw4f6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,042,661</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiability_i01I_zrCWbjQjLvo3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,861,638</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Finance leases <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Twelve months ending March 31,</td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20260331_zMWydbbM4tqk" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_iB_zMebfnKmyMqk" style="vertical-align: bottom; background-color: White"> <td>Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_maFLLPDzgHy_zGplz3dX3dy2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,353</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_i01I_maFLLPDzgHy_zIpkB2I0nHbe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,976</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_i01I_maFLLPDzgHy_zKqJuuUjQk2d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityPaymentsDue_i01TI_mtFLLPDzgHy_zTTg4xqG1jE2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,329</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_i01NI_di_zZ62r0kwZvA5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(869</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseLiability_i01I_zwHh7eqaTWtd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of finance lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">22,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

220000

40000

2021-07-31

P3Y

2024-07-31

60000

P5Y

2029-07-31

145750

66000

35000

2026-04-30

60000

30000

33000

16500

2029-08-31

717143

716942

551505

512277

438

895

10380

10149

Supplemental balance sheet information related to operating and financing leases was as follows: SCHEDULE OF SUPPLEMENTAL BALANCE INFORMATION Operating leases <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260331_z6M8yj8kZHl9" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20251231_zxRv2ExDB1l9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityCurrent_iI_maOLLziXT_zwQwTtEQZXZb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease liabilities – current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,878,122</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,956,045</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_maOLLziXT_zXiGRU6ZE264" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Operating lease liabilities - non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,983,516</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,456,648</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_iTI_mtOLLziXT_zKdK9LQ80c46" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,861,638</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,412,693</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Financing leases <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260331_zgWm3uTd7Vig" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20251231_zL0DbsYLSAS2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--FinanceLeaseLiabilityCurrent_iI_maFLLzxiq_zPrDhULNJD61" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Finance lease liabilities – current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,785</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">23,927</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_maFLLzxiq_zd04XcTWuCga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Finance lease liabilities - non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,675</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,676</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiability_iTI_mtFLLzxiq_zZjt4zpOHaR4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">22,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">33,603</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1878122

1956045

4983516

5456648

6861638

7412693

14785

23927

7675

9676

22460

33603

<p id="xdx_893_eus-gaap--ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock_zwHzzB2jD5pg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following table includes supplemental cash flow and non-cash information related to leases: SCHEDULE OF SUPPLEMENTAL CASH FLOW AND NON-CASH INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_497_20260101__20260331_zkONRbZMhqXa" style="font-weight: bold; text-align: center">Three months ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20250101__20250331_zsPlTv9TsHFg" style="font-weight: bold; text-align: center">Three months ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid of amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeasePayments_zHwuSFATNhDf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Operating cash flows used in operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">551,055</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">716,942</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinanceLeaseInterestPaymentOnLiability_zEnxk1wsRotg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating cash flows used in finance leases</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">895</td><td style="text-align: left"></td></tr> <tr id="xdx_403_eus-gaap--PaymentsOfFinancingCosts_zrLp0QYh5l3j" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Financing cash flows used in finance leases</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">11,582</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">10,686</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets obtained in exchange for lease obligations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability_zBTWF4p5VnP" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Finance lease liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_zN9u68cZADYd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating lease liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">424,170</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

551055

716942

895

11582

10686

424170

<p id="xdx_897_ecustom--ScheduleOfWeightedAverageRemainingLeaseTermsAndDiscountRatesOperatingAndFinanceLeasesTableTextBlock_zToi7Q8djXC1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The weighted average remaining lease terms and discount rates for all of operating lease and finance leases were as follows: SCHEDULE OF WEIGHTED AVERAGE REMAINING LEASE TERMS AND DISCOUNT RATES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted-average remaining lease term (years):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Finance lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.15 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.31 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.18 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.53 years</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average discount rate:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-left: 10pt">Finance leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5.80</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5.69</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.50</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.55</td><td style="text-align: left">%</td></tr> </table>

P1Y1M24D

P1Y3M21D

P4Y2M4D

P3Y6M10D

0.0580

0.0569

0.0850

0.0855

<p id="xdx_89D_ecustom--ScheduleOfMaturitiesOfOperatingAndFinanceLeaseLiabilitiesTableTextBlock_zVNNSmsTEEY" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following is a schedule of maturities of operating and finance lease liabilities as of March 31, 2025: SCHEDULE OF MATURITIES OF OPERATING AND FINANCE LEASE LIABILITIES Operating leases <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Twelve months ending March 31,</td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20260331_zazJuP8ke5Vj" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilitiesPaymentsDueAbstract_iB_z2ahEkkYAJU7" style="vertical-align: bottom; background-color: White"> <td>Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_maLOLLPzM91_ziIVtFqeao0d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,387,799</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_maLOLLPzM91_zeblNwQtkj18" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,343,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_maLOLLPzM91_z1IF4hqwxfAg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,343,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_i01I_maLOLLPzM91_zQM3df1DSPC8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">830,500</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_i01I_maLOLLPzM91_zCC6uCBpKWK7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">2030</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_i01TI_mtLOLLPzM91_zL4RRXRO6lV6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,904,299</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_i01NI_di_zaDK6sGw4f6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,042,661</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiability_i01I_zrCWbjQjLvo3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,861,638</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Finance leases <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Twelve months ending March 31,</td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20260331_zMWydbbM4tqk" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiabilitiesPaymentsDueAbstract_iB_zMebfnKmyMqk" style="vertical-align: bottom; background-color: White"> <td>Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_maFLLPDzgHy_zGplz3dX3dy2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">15,353</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_i01I_maFLLPDzgHy_zIpkB2I0nHbe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,976</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_i01I_maFLLPDzgHy_zKqJuuUjQk2d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityPaymentsDue_i01TI_mtFLLPDzgHy_zTTg4xqG1jE2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,329</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_i01NI_di_zZ62r0kwZvA5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(869</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseLiability_i01I_zwHh7eqaTWtd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of finance lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">22,460</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2387799

2343000

830500

7904299

1042661

6861638

15353

7976

23329

869

22460

NOTE 9 — RETURN LIABILITIES The following table shows changes in the Company’s return liabilities: SCHEDULE OF ACCRUED RETURN LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20260101__20260331_z63e1lcw62kg" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20251231_zsghKh543sf4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AccruedLiabilitiesCurrent_iS_zRzpkwYf47xi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">12,166</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">261,588</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ActualRecognizedProductsReturn_iN_di_zxh5ofzg99Wl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Actual recognized products return</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(84,053</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(542,978</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_ecustom--AccrualsForProductReturnLiabilities_zmdytOTfTg6e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accruals for product return liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">83,325</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">293,556</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedLiabilitiesCurrent_iE_zjXTw71rKzZ" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,438</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,166</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

The following table shows changes in the Company’s return liabilities: SCHEDULE OF ACCRUED RETURN LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20260101__20260331_z63e1lcw62kg" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250101__20251231_zsghKh543sf4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AccruedLiabilitiesCurrent_iS_zRzpkwYf47xi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">12,166</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">261,588</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--ActualRecognizedProductsReturn_iN_di_zxh5ofzg99Wl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Actual recognized products return</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(84,053</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(542,978</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_ecustom--AccrualsForProductReturnLiabilities_zmdytOTfTg6e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accruals for product return liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">83,325</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">293,556</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedLiabilitiesCurrent_iE_zjXTw71rKzZ" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,438</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,166</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

12166

261588

84053 542978 83325 293556

11438

12166

NOTE 10 — WARRANTY LIABILITIES The following table shows changes in the Company’s warranty liabilities and related costs: SCHEDULE OF ACCRUED WARRANTIES AND RELATED COSTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260101__20260331_zBJnY0abszfa" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20251231_ze44ptR1OGY9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--ProductWarrantyAccrual_iS_zRPjwqhwsl9a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">152,795</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">503,553</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProductWarrantyAccrualPayments_iN_di_zw2er5ultbB3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cost of warranty claims</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(49,440</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,160,155</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--ProductWarrantyAccrualAdditionsFromBusinessAcquisition_zDNgoMTSeX71" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accruals for product warranty</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">41,064</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">809,397</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ProductWarrantyAccrual_iE_zWQ1IhDcxe4b" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">144,419</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">152,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The following table shows changes in the Company’s warranty liabilities and related costs: SCHEDULE OF ACCRUED WARRANTIES AND RELATED COSTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260101__20260331_zBJnY0abszfa" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20251231_ze44ptR1OGY9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--ProductWarrantyAccrual_iS_zRPjwqhwsl9a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">152,795</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">503,553</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProductWarrantyAccrualPayments_iN_di_zw2er5ultbB3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cost of warranty claims</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(49,440</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,160,155</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--ProductWarrantyAccrualAdditionsFromBusinessAcquisition_zDNgoMTSeX71" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accruals for product warranty</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">41,064</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">809,397</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ProductWarrantyAccrual_iE_zWQ1IhDcxe4b" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">144,419</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">152,795</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

152795

503553

49440

1160155

41064

809397

144419

152795

<p id="xdx_802_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_z8afH7KNYPbf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">NOTE 11 — OTHER PAYABLE, ACCRUED EXPENSE AND OTHER CURRENT LIABILITY <p id="xdx_89E_ecustom--OtherPayableAccruedExpenseAndOtherCurrentLiabilitiesTableTextBlock_zMivURIzFdLc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following table shows the breakdown of the Company’s other payable, accrued expense and other current liabilities: SCHEDULE OF OTHER PAYABLE ACCRUED EXPENSE AND OTHER CURRENT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260331_z9UFYPqDDSUc" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231_z90LkcvnYQZ6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_ecustom--CreditCardLiabilities_iI_maAPAOAzZiZ_znY5QuXLlz2b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Credit card liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,126</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">17,699</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_maAPAOAzZiZ_zcmxdvnBPJY5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sales Tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,951</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherLiabilities_iI_maAPAOAzZiZ_zogKI24Dbr1b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62,300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66,606</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maAPAOAzZiZ_zzuVjpsRJA1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Payroll liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,910</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150,467</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AccrualOnLitigation_iI_maAPAOAzZiZ_zjpVKQcrB0Ia" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accrual on litigation (a)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,988,961</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,988,961</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iTI_mtAPAOAzZiZ_zxHhB2horcKa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,176,297</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,233,684</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Note (a): Balance mainly represented $5,988,961 accrual of litigation in connection with Nebula (see Note 17). MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

<p id="xdx_89E_ecustom--OtherPayableAccruedExpenseAndOtherCurrentLiabilitiesTableTextBlock_zMivURIzFdLc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following table shows the breakdown of the Company’s other payable, accrued expense and other current liabilities: SCHEDULE OF OTHER PAYABLE ACCRUED EXPENSE AND OTHER CURRENT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260331_z9UFYPqDDSUc" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231_z90LkcvnYQZ6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_ecustom--CreditCardLiabilities_iI_maAPAOAzZiZ_znY5QuXLlz2b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Credit card liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,126</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">17,699</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_maAPAOAzZiZ_zcmxdvnBPJY5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sales Tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,951</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherLiabilities_iI_maAPAOAzZiZ_zogKI24Dbr1b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62,300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66,606</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maAPAOAzZiZ_zzuVjpsRJA1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Payroll liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,910</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150,467</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AccrualOnLitigation_iI_maAPAOAzZiZ_zjpVKQcrB0Ia" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accrual on litigation (a)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,988,961</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,988,961</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iTI_mtAPAOAzZiZ_zxHhB2horcKa" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,176,297</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,233,684</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 4126 17699

9951

62300

66606

120910

150467

5988961 5988961

6176297

6233684

5988961

NOTE 12 — RELATED PARTY TRANSACTIONS The relationship of related parties is summarized as follows: SCHEDULE OF RELATIONSHIP OF RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">Name of Related Party</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: center">Relationship to the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">David Shan</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90A_eus-gaap--NatureOfCommonOwnershipOrManagementControlRelationships_c20260101__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zPdDNkSjVA04" title="Relationship to the Company">Controlling shareholder of the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Miller Creek Holdings LLC</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_900_eus-gaap--NatureOfCommonOwnershipOrManagementControlRelationships_c20260101__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingsLLCMember_zF95PaeHYNei" title="Relationship to the Company">Controlled by David Shan</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Vessel Technology Inc.</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90A_eus-gaap--NatureOfCommonOwnershipOrManagementControlRelationships_c20260101__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VesselTechnologyIncMember_zA0rr0hYG32e" title="Relationship to the Company">Controlled by David Shan</td></tr> </table> (a) Loan from a related party <p id="xdx_89B_ecustom--ScheduleOfDueToShareholderTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zFdKVBhvWIPl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Loan from a related party consists of the following: SCHEDULE OF DUE TO SHAREHOLDER <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260101__20260331_zc94Oi7Y5EV7" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20251231_zWhWcJSdEMo8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--OtherLiabilities_iS_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zgJjVGj4ZjUk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Loan from David Shan, opening balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,000,089</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,546,548</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--RepaymentOfShareholderAdvanceNet_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_z6QOEHQ3JCIg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Repayment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,546,459</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--OtherLiabilities_iE_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zMUlXVW5S8sb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loan from David Shan, ending balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000,089</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000,089</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--OtherLiabilitiesNoncurrent_iNI_di_c20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zJMKzCKVv0ee" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherLiabilitiesNoncurrent_iNI_di_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_z6CR1UKv9VT8" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Current</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--OtherLiabilitiesCurrent_iI_c20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zo8pL87TLnNb" style="border-bottom: Black 2.5pt double; text-align: right" title="Current">2,000,089</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--OtherLiabilitiesCurrent_iI_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zY2hqHuYomW" style="border-bottom: Black 2.5pt double; text-align: right" title="Current">2,000,089</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> On January 3, 2024, the Company entered into an unsecured loan agreement with Mr. David Shan, the executive chairman of the Board and then CEO, in order to change the payment term from due on demand to due on January 3, 2029. This unsecured loan was required by MidFirst Bank when the Company renewed the line of credit on January 3, 2024. On May 13, 2024, the line of credit with MidFirst Bank was closed and the Company obtained a new line of credit with Cathay Bank, which did not include such a requirement. Consequently, the outstanding balance has been reclassified from non-current liabilities to current liabilities as of December 31, 2025. The Company made repayments totaling $nil and $3,546,459 towards this loan during the three months ended March 31, 2026 and the year ended December 31, 2025. The Company intends to continue the repayments of the loan due to Mr. Shan over the next twelve months. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

The relationship of related parties is summarized as follows: SCHEDULE OF RELATIONSHIP OF RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">Name of Related Party</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%; text-align: center">Relationship to the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">David Shan</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90A_eus-gaap--NatureOfCommonOwnershipOrManagementControlRelationships_c20260101__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zPdDNkSjVA04" title="Relationship to the Company">Controlling shareholder of the Company</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Miller Creek Holdings LLC</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_900_eus-gaap--NatureOfCommonOwnershipOrManagementControlRelationships_c20260101__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MillerCreekHoldingsLLCMember_zF95PaeHYNei" title="Relationship to the Company">Controlled by David Shan</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Vessel Technology Inc.</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90A_eus-gaap--NatureOfCommonOwnershipOrManagementControlRelationships_c20260101__20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--VesselTechnologyIncMember_zA0rr0hYG32e" title="Relationship to the Company">Controlled by David Shan</td></tr> </table>

Controlling shareholder of the Company

Controlled by David Shan

<p id="xdx_89B_ecustom--ScheduleOfDueToShareholderTableTextBlock_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zFdKVBhvWIPl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">Loan from a related party consists of the following: SCHEDULE OF DUE TO SHAREHOLDER <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260101__20260331_zc94Oi7Y5EV7" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250101__20251231_zWhWcJSdEMo8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--OtherLiabilities_iS_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zgJjVGj4ZjUk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Loan from David Shan, opening balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,000,089</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,546,548</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--RepaymentOfShareholderAdvanceNet_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_z6QOEHQ3JCIg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Repayment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,546,459</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--OtherLiabilities_iE_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zMUlXVW5S8sb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loan from David Shan, ending balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000,089</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000,089</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--OtherLiabilitiesNoncurrent_iNI_di_c20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zJMKzCKVv0ee" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherLiabilitiesNoncurrent_iNI_di_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_z6CR1UKv9VT8" style="border-bottom: Black 1pt solid; text-align: right" title="Non-current">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Current</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--OtherLiabilitiesCurrent_iI_c20260331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zo8pL87TLnNb" style="border-bottom: Black 2.5pt double; text-align: right" title="Current">2,000,089</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--OtherLiabilitiesCurrent_iI_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrDavidShanMember_zY2hqHuYomW" style="border-bottom: Black 2.5pt double; text-align: right" title="Current">2,000,089</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2000089

5546548

-3546459

2000089

3546459

NOTE 13 — TAXES Corporate Income Taxes Massimo Motor and Massimo Marine were incorporated in the United States and are subject to a statutory income tax rate at 21%. As of March 31, 2026 and December 31, 2025, the Company did not have any accrued liability for uncertain tax positions and does not anticipate recognition of any significant liabilities for uncertain tax positions during the next 12 months. For the three months ended March 31, 2026 and 2025, no amounts were incurred for income tax uncertainties or interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company’s tax years since its formation remain subject to possible income tax examination by its major taxing authorities for all periods. The Company’s effective tax rate for the three months ended March 31, 2026 and 2025 are 14.35% and 20.50%, respectively. <p id="xdx_89F_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zD0iLWk443O7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The provision for income tax consists of the following: SCHEDULE OF INCOME TAX PROVISION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260101__20260331_zG6SPgkmqWB6" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20250331_zm5XuqnuD3I7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three months ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--CurrentIncomeTaxExpenseBenefit_maITEBz3Bp_zvkEKwHnbCVl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left; padding-left: 10pt">Income tax provision – current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,280</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,280</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DeferredIncomeTaxRecovery_maITEBz3Bp_zSOxFeMlACAl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Income tax recovery - deferred</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(173,141</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(544,075</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBz3Bp_zXYIkjEFeXMe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax (recovery) provision</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(168,861</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(539,795</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_891_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zw09kU67yghd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following table reconciles the statutory tax rate to the Company’s effective tax: SCHEDULE OF RECONCILIATION OF INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260101__20260331_zlV4rJSFe042" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250331_zmMIvYk2Xqrl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three months ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_z3xipVmD6C74" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left; padding-left: 10pt">Net (loss) income before income taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(1,176,411</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(2,628,502</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_zOI7MuFoEBui" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Income tax at the federal statutory rate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzXOA_zV5zj75uUyof" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Statutory U.S. federal income tax (recovery) provision</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(247,046</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(551,985</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maITEBzXOA_zD91puEtjBJh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">State margin tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,280</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,280</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBzXOA_zz0C8uL0UQLi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Non-deductible expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">73,905</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,910</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzXOA_zBhIOaExmqii" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(168,861</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(539,795</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 13 — TAXES (continued) Corporate Income Taxes (continued) <p id="xdx_892_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_z0dUi1c1RTVb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The Company’s deferred tax assets and liabilities consist of the following: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260331_zDcjzJ2B4eQa" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231_zf9KFmXkcb95" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zc504bm3WVb6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_i01I_maDTANzjyv_zFxKA3WzAS5d" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Allowance for credit loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">98,248</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">126,955</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsPropertyPlantAndEquipment_i01I_maDTANzjyv_zezq74BgpoR8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,480</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DeferredTaxAssetsOperatingLeaseLiabilities_i01I_maDTANzjyv_z2VpOQDcTcx5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease liability – operating</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,440,944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,556,666</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsFinancingLeaseLiabilities_i01I_maDTANzjyv_zo0siPIz2yDg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability – financing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,717</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,057</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsOtherTemporaryDifference_i01I_maDTANzjyv_z7U4T7aKAKk7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other temporary difference</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,183,762</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,938,627</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsNet_i01TI_mtDTANzjyv_maDTALNzKIi_zPh9Dm25Dpg3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,727,671</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,645,785</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxLiabilitiesNetAbstract_iB_zOmXWFB9oL54" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"></td><td style="text-align: left"></td></tr> <tr id="xdx_405_ecustom--DeferredTaxLiabilitiesOperatingRightOfUseAssets_i01NI_di_maDTLzrTO_zR7gK63Xx7Uj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right of use assets – operating</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,462,470</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,551,546</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--DeferredTaxLiabilitiesFinancingRightOfUseAssets_i01NI_di_maDTLzrTO_zPfg6EtRNvxi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Right of use assets – financing</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,228</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,408</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxLiabilities_i01NTI_di_mtDTLzrTO_msDTALNzKIi_z9Vq1D5cglK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,466,698</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,557,954</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNzKIi_zXU9gvvvsQk1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Deferred tax assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,260,973</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,087,831</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

0.21

0.1435

0.2050

<p id="xdx_89F_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zD0iLWk443O7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The provision for income tax consists of the following: SCHEDULE OF INCOME TAX PROVISION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260101__20260331_zG6SPgkmqWB6" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250101__20250331_zm5XuqnuD3I7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Three months ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--CurrentIncomeTaxExpenseBenefit_maITEBz3Bp_zvkEKwHnbCVl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left; padding-left: 10pt">Income tax provision – current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,280</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,280</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--DeferredIncomeTaxRecovery_maITEBz3Bp_zSOxFeMlACAl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Income tax recovery - deferred</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(173,141</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(544,075</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBz3Bp_zXYIkjEFeXMe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax (recovery) provision</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(168,861</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(539,795</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

4280

-173141 -544075

-168861

-539795

<p id="xdx_891_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zw09kU67yghd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following table reconciles the statutory tax rate to the Company’s effective tax: SCHEDULE OF RECONCILIATION OF INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260101__20260331_zlV4rJSFe042" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250331_zmMIvYk2Xqrl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three months ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_z3xipVmD6C74" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left; padding-left: 10pt">Net (loss) income before income taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(1,176,411</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(2,628,502</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_zOI7MuFoEBui" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Income tax at the federal statutory rate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzXOA_zV5zj75uUyof" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Statutory U.S. federal income tax (recovery) provision</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(247,046</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(551,985</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maITEBzXOA_zD91puEtjBJh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">State margin tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,280</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,280</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBzXOA_zz0C8uL0UQLi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Non-deductible expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">73,905</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,910</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzXOA_zBhIOaExmqii" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(168,861</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(539,795</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-1176411

-2628502

0.21

-247046

-551985

4280

73905

7910

-168861

-539795

<p id="xdx_892_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_z0dUi1c1RTVb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The Company’s deferred tax assets and liabilities consist of the following: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260331_zDcjzJ2B4eQa" style="border-bottom: Black 1pt solid; text-align: center">March 31, 2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20251231_zf9KFmXkcb95" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zc504bm3WVb6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_i01I_maDTANzjyv_zFxKA3WzAS5d" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Allowance for credit loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">98,248</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">126,955</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsPropertyPlantAndEquipment_i01I_maDTANzjyv_zezq74BgpoR8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,480</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DeferredTaxAssetsOperatingLeaseLiabilities_i01I_maDTANzjyv_z2VpOQDcTcx5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease liability – operating</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,440,944</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,556,666</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsFinancingLeaseLiabilities_i01I_maDTANzjyv_zo0siPIz2yDg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lease liability – financing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,717</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,057</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsOtherTemporaryDifference_i01I_maDTANzjyv_z7U4T7aKAKk7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other temporary difference</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,183,762</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,938,627</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsNet_i01TI_mtDTANzjyv_maDTALNzKIi_zPh9Dm25Dpg3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,727,671</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,645,785</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxLiabilitiesNetAbstract_iB_zOmXWFB9oL54" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"></td><td style="text-align: left"></td></tr> <tr id="xdx_405_ecustom--DeferredTaxLiabilitiesOperatingRightOfUseAssets_i01NI_di_maDTLzrTO_zR7gK63Xx7Uj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right of use assets – operating</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,462,470</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,551,546</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--DeferredTaxLiabilitiesFinancingRightOfUseAssets_i01NI_di_maDTLzrTO_zPfg6EtRNvxi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Right of use assets – financing</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,228</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,408</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxLiabilities_i01NTI_di_mtDTLzrTO_msDTALNzKIi_z9Vq1D5cglK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,466,698</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,557,954</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNzKIi_zXU9gvvvsQk1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Deferred tax assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,260,973</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,087,831</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

98248

126955

16480

1440944 1556666 4717 7057 3183762 2938627

4727671

4645785

1462470 1551546 4228 6408

1466698

1557954

3260973

3087831

NOTE 14 — SHAREHOLDERS’ EQUITY Common Shares Based on the Company’s Articles of Incorporation, the authorized number of common stock was 100,000,000 shares of common stock with par value of $0.001, of which 40,000,000 common shares were issued on June 1, 2023. The authorized number of preferred stock was 5,000,000 shares of preferred stock with par value of $0.01, and no preferred shares were issued. All share information included in these condensed consolidated financial statements have been retroactively adjusted for the Reorganization as if par value and common shares issuance occurred on the first day of the first period presented. As of March 31, 2026 and December 31, 2025, 41,640,950 and 41,640,950 common shares were issued and outstanding, respectively. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 14 — SHAREHOLDERS’ EQUITY (continued) Initial Public Offering On April 4, 2024, the Company closed its IPO of <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240404__20240404__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zee6qPph5Crd" title="Sale of stock number of shares issued in transaction">1,300,000 shares of its common stock at an IPO price of $4.50 per share for aggregate gross proceeds of approximately $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn4n6_c20240404__20240404__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zvqKpVC5pPQj" title="Proceeds from issuance initial public offering">5.85 million. The total net proceeds to the Company from the IPO, after deducting discounts, expense allowance, and expenses, were approximately $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20240404__20240404__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zTJTICvo4b54" title="Proceeds from issuance or sale of equity">5.0 million. Pursuant to the terms and conditions of the underwriting agreement, dated as of April 1, 2024, by and between Craft Capital Management LLC (the “Representative”) and the Company (the “Underwriting Agreement”), the underwriters had an overallotment option, exercisable for 45 days or until May 19, 2024, to purchase up to an additional <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240404__20240404__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zmo30ZJHth68" title="Stock issued during period shares new issues">195,000 shares from the Company at the offering price less of $4.50 the underwriting discount and commissions to cover over-allotments. As of the reporting date, all representative options have expired without exercise. Common Shares Issued for Service On June 18, 2024, the Company signed a consulting agreement (the “Consulting Agreement”) with TJCM Asset Management LLC (“TJCM”) to provide strategic consulting and financial advisory services to the Company for twelve months commencing on June 18, 2024. As partial consideration for the services, TJCM is entitled to receive shares of the Company’s common stock equivalent to a value of $160,000 calculated by the valuation price defined as average closing price of the Company’s shares of common stock for the five consecutive trading days immediately preceding the effective date of the Consulting Agreement. On June 21, 2024, the Company issued 22,485 shares of common stock to TJCM as the prepayment of $<span id="xdx_906_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20240621__20240621__dei--LegalEntityAxis__custom--TJCMAssetManagementLLCMember_zCZJUEyCM59k" title="Number of shares for service, value">80,000 on the services to be provided. On November 29, 2024, the agreement was terminated under mutual agreement, and the Company cancelled <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationForfeited_c20241129__20241129__dei--LegalEntityAxis__custom--TJCMAssetManagementLLCMember_zG9P7ufwYPu4" title="Stock issued during period cancelled">8,869 shares out of the 22,485 shares of common stock previously issued to TJCM. The Company recorded expenses of nil and nil in connection with service for the three months ended March 31, 2026 and 2025, respectively. Representative’s Warrants Pursuant to the Underwriting Agreement, the Company issued to the Representative and its designee warrants (the “Representative’s Warrants”) to purchase <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20260331__us-gaap--StatementEquityComponentsAxis__custom--RepresentativesWarrantMember_z4vdTxm87Xwe" title="Number of warrants issued">87,100 shares of common stock. The Representative’s Warrants are exercisable at a per share exercise price equal to $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260331__us-gaap--StatementEquityComponentsAxis__custom--RepresentativesWarrantMember_zaRpRwGq70Z3" title="Exercise price">5.63 and are exercisable at any time and from time to time, in whole or in part, during the period commencing on October 4, 2024 and terminating on April 4, 2029. Neither the Representative’s Warrants nor any of the shares issued upon exercise of the Representative’s Warrants may be sold, transferred, assigned, pledged or hypothecated, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities by any person, for a period of six months immediately following the commencement of sales of the offering. Management determined that these warrants meet the requirements for equity classification under ASC 815-40 because they are indexed to their own shares and meet the requirements for equity classification. The warrants were recorded at fair value on the date of grant as a component of shareholders’ equity. The fair value of these warrants was $220,000, which was considered a direct cost of IPO and included in additional paid-in capital. The fair value has been estimated using the Black-Scholes pricing model with the following weighted-average assumptions: market value of underlying share of $<span id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uUSDPShares_c20260331__us-gaap--StatementEquityComponentsAxis__custom--RepresentativesWarrantMember_zZmCNFKZ0GA8" title="Warrants measurement input">4.02, risk free rate of <span id="xdx_90B_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--StatementEquityComponentsAxis__custom--RepresentativesWarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zB6v3qM5vqhb" title="Warrants measurement input">4.3%, expected term of <span id="xdx_905_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20260331__us-gaap--StatementEquityComponentsAxis__custom--RepresentativesWarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zQZvmUXaV74h" title="Warrants expected term">five years; exercise price of the warrants of $<span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uUSDPShares_c20260331__us-gaap--StatementEquityComponentsAxis__custom--RepresentativesWarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExercisePriceMember_zqSM0A6jam6g" title="Warrants measurement input">5.63, volatility of <span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--StatementEquityComponentsAxis__custom--RepresentativesWarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zUL2WvSSaWE3" title="Warrants measurement input">89%; and expected future dividends of <span id="xdx_904_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_dxL_uPure_c20260331__us-gaap--StatementEquityComponentsAxis__custom--RepresentativesWarrantMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zTtnBNFkw2u4" title="Warrants measurement input::XDX::-">nil. As of March 31, 2026, 87,100 warrants in connection with IPO funding was outstanding, with an exercise price of $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260331__us-gaap--StatementEquityComponentsAxis__custom--RepresentativesWarrantMember_zmXTn5xa5Tlg" title="Exercise price of warrants">5.63 and remaining life of 3.51 years. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

100000000

0.001

40000000

5000000

0.01

41640950

1300000

4.50

5850000

5000000.0

195000

4.50

160000

22485

80000

8869

22485

87100

5.63

2029-04-04

220000

4.02

4.3

P5Y

5.63

87100

5.63

P3Y6M3D

NOTE 15 — (LOSS) EARNINGS PER SHARE For the three months ended March 31, 2026 and March 31, 2025, the Company incurred a net loss. Accordingly, the effect of potential common shares from unexercised stock options, unexercised warrants, and unvested Restricted Stock Units (“RSUs”) was excluded from the computation of diluted net loss per share, as their inclusion would have been anti-dilutive. The following table presents a reconciliation of basic and diluted net income per share: SCHEDULE OF EARNINGS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260331_zqi2RzpP37sf" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250331_zNV5LuEoF4R6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three months ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLoss_zsEHvOa6AXNb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left; padding-bottom: 2.5pt">Net (loss) income attributable to the Company</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(1,007,550</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(2,088,707</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_zXJ5SueI7JF4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Weighted average number of common shares outstanding – basic</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">41,603,838</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">41,542,800</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_zCXu0M7mwMic" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Dilutive securities – unvested RSU</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_zIW3yo2Us3G6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average number of common shares outstanding – diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">41,603,838</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">41,542,800</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareBasic_znCUSrzkckX1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">(Loss) earnings per share – basic</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.02</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.05</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--EarningsPerShareDiluted_zTWBqLNQKBid" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">(Loss) earnings per share – diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.02</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.05</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

The following table presents a reconciliation of basic and diluted net income per share: SCHEDULE OF EARNINGS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260331_zqi2RzpP37sf" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250331_zNV5LuEoF4R6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three months ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026 (unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--NetIncomeLoss_zsEHvOa6AXNb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left; padding-bottom: 2.5pt">Net (loss) income attributable to the Company</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(1,007,550</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 12%; text-align: right">(2,088,707</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_zXJ5SueI7JF4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Weighted average number of common shares outstanding – basic</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">41,603,838</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">41,542,800</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--WeightedAverageNumberOfSharesRestrictedStock_zCXu0M7mwMic" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Dilutive securities – unvested RSU</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_zIW3yo2Us3G6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Weighted average number of common shares outstanding – diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">41,603,838</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">41,542,800</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareBasic_znCUSrzkckX1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">(Loss) earnings per share – basic</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.02</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.05</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--EarningsPerShareDiluted_zTWBqLNQKBid" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">(Loss) earnings per share – diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.02</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.05</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-1007550

-2088707

41603838

41542800

41603838

41542800

-0.02

-0.05

-0.02

-0.05

NOTE 16 — EMPLOYEE STOCK PLANS Equity Incentive Plans On May 22, 2024, the Company’s Board approved the 2024 Equity Inventive Plan (“2024 Plan”) and Restricted Stock Units (“RSUs”) Agreements. The 2024 Plan and RSUs Agreement authorized the award of stock options, RSUs to employees and directors. The Company recorded $<span id="xdx_907_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_dxL_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zvFltP9qljxl" title="Share based compensation::XDX::-">nil and $195,940 stock-based compensation expense in connection with RSUs for three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, all previously granted restricted stock units (“RSUs”) had vested and there were no outstanding RSUs under the Company’s equity incentive plan. MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 16 — EMPLOYEE STOCK PLANS (continued) Options On May 22, 2024, the Company signed a stock option agreement with Mr. David Shan, the then Chief Executive Officer and two other executives of the Company, in connection with the 2024 Plan. As part of the compensation, the Company agrees to grant Mr. Shan options to purchase up to <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionPlanMember_zccnEJvMEAO2" title="Shares granted">46,860 common shares under Incentive Stock Option (“ISO”) plan, at an exercise price of $<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionPlanMember_z5PFloDO4tWg" title="Shares granted exercise price">4.268 per share. <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionPlanMember_zxmEnVosqL1g" title="Shares granted description">The options were granted on May 22, 2024, and the options vest at a rate of 23,430 per year for two years, effective on May 22, 2024. The aggregate fair value of the options granted to Mr. Shan was $<span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionPlanMember_zrE24IQiA7lc" title="Aggregate fair value">73,000. The fair value has been estimated using the Black-Scholes pricing model with the following weighted-average assumptions: market value of underlying common shares at time of grant of $3.88; risk free rate of <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionPlanMember_zdRqGDqJAEid" title="Risk-free interest rate maximum">5.0% and <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionPlanMember_zenCLDUQKPOe" title="Risk-free interest rate minimum">4.65%; expected term of <span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionPlanMember_zo1cwoJu6ejh" title="Expected term">5 years; exercise price of the options of $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionPlanMember_zWkfWsPHePB9" title="Exercise price">4.268; volatility of <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionPlanMember_zgj8zaYqnbY1" title="Volatility rate">88.8%; and expected future dividends of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dpxL_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionPlanMember_zfiPyPlgHZ5b" title="Dividend rate::XDX::-">nil. These options will expire on <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionPlanMember_z8l7DPr8Ma64" title="Expiration date">May 21, 2029. The Company also granted Mr. Shan options to purchase up to <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240522__20240522__us-gaap--PlanNameAxis__custom--NonQualifiedStockOptionPlanMember_z4CtRKCTYjvf" title="Shares granted">103,140 common shares, at an exercise price of $<span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240522__20240522__us-gaap--PlanNameAxis__custom--NonQualifiedStockOptionPlanMember_zDqHaCbAicmg" title="Shares granted exercise price">4.0 per share under a nonqualified stock option (“NSO”) plan. The options were granted on May 22, 2024, and vest at a rate of <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription_c20240522__20240522__us-gaap--PlanNameAxis__custom--NonQualifiedStockOptionPlanMember_zzlX3KBN5L6h" title="Shares granted description">51,570 shares per year for two years, effective on May 22, 2024. The aggregate fair value of the options granted to Mr. Shan was $<span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20240522__20240522__us-gaap--PlanNameAxis__custom--NonQualifiedStockOptionPlanMember_zirBeCplLp" title="Aggregate fair value">160,000. The fair value has been estimated using the Black-Scholes pricing model with the following weighted-average assumptions: market value of underlying common shares at time of grant of $3.88; risk free rate of <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--NonQualifiedStockOptionPlanMember_zGfP6LDj7VVc" title="Risk-free interest rate maximum">5.0% and <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--NonQualifiedStockOptionPlanMember_zqTnv8apVCSa" title="Risk-free interest rate minimum">4.65%; expected term of <span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240522__20240522__us-gaap--PlanNameAxis__custom--NonQualifiedStockOptionPlanMember_zPnlXbi0Zhh4" title="Expected term">10 years; exercise price of the options of $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20240522__us-gaap--PlanNameAxis__custom--NonQualifiedStockOptionPlanMember_zm1V1CG8AiPj" title="Exercise price">4.0; volatility of <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--NonQualifiedStockOptionPlanMember_zmzugNW5cVz5" title="Volatility rate">88.8%; and expected future dividends of <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dpxL_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--NonQualifiedStockOptionPlanMember_zay9Lok9Itha" title="Dividend rate::XDX::-">nil. These options will expire on <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_c20240522__20240522__us-gaap--PlanNameAxis__custom--NonQualifiedStockOptionPlanMember_zTctH6PsuFE3" title="Expiration date">May 21, 2034. The Company also granted two executives options to purchase up to <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionAndNonQualifiedStockOptionPlanMember_zSAtzk7SJfxg" title="Shares granted">200,000 common shares, at an exercise price of $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionAndNonQualifiedStockOptionPlanMember_zi63z8aRCwF7" title="Shares granted exercise price">4.0 per share under ISO and NSO plans. <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionAndNonQualifiedStockOptionPlanMember_zrf00eALbm8" title="Shares granted description">The options were granted on May 22, 2024, and vest at a rate of 100,000 shares per year for two years, effective on May 22, 2024. The aggregate fair value of the options granted to these two executives was $<span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionAndNonQualifiedStockOptionPlanMember_z9THFbCgVgy3" title="Aggregate fair value">272,000. The fair value has been estimated using the Black-Scholes pricing model with the following weighted-average assumptions: market value of underlying common shares of $3.88; risk free rate of <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum_pid_dp_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionAndNonQualifiedStockOptionPlanMember_zNw8GOLiE5S6" title="Risk-free interest rate maximum">5.0% and <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_pid_dp_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionAndNonQualifiedStockOptionPlanMember_zgfw1xzKQls6" title="Risk-free interest rate minimum">4.65%; expected term of <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionAndNonQualifiedStockOptionPlanMember_zSB9EVYbfbri" title="Expected term">10 years; exercise price of the options of $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice_iI_pid_c20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionAndNonQualifiedStockOptionPlanMember_zKcV13oxiaoe" title="Exercise price">4.0; volatility of <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionAndNonQualifiedStockOptionPlanMember_z9L7QdO5Br9e" title="Volatility rate">88.8%; and expected future dividends of <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dpxL_uPure_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionAndNonQualifiedStockOptionPlanMember_zbaWyjp0w9ea" title="Dividend rate::XDX::-">nil. These options will expire on <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_c20240522__20240522__us-gaap--PlanNameAxis__custom--IncentiveStockOptionAndNonQualifiedStockOptionPlanMember_zQzY9izVTMwf" title="Expiration date">May 21, 2034. As of March 31, 2026, intrinsic value of the options is nil. The Company reversed and recorded $29,395 and $90,480 stock-based compensation expense in connection with options for the periods ended March 31, 2026 and 2025, respectively. <p id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_z1pLF40ro544" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following table summarizes the Company’s share option activity: SCHEDULE OF SHARE OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of Options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Life in Years</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; padding-bottom: 2.5pt">Unvested balance, December 31, 2025</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260331_z5AFtCFqW427" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Number of options, Beginning">175,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260331_zOnLKQunupnl" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Weighted average exercise price, beginning balance">4.04</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zQsGGYWVyZ8h" title="Weighted average remaining life years">8.06</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable, December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iS_c20260101__20260331_zhjiLNRgM6Ha" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, beginning exercisable">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iS_c20260101__20260331_z6lM0TtlVWb8" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Exercisable beginning balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260331_zSnH9dg0eaa" style="text-align: right" title="Number of options, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331_zvZL7kRKVdkh" style="text-align: right" title="Weighted average exercise price, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cancelled</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_pid_c20260101__20260331_zM8rqF20bPn" style="text-align: right" title="Number of options, Cancelled">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331_zI2oP0XQK3ni" style="text-align: right" title="Weighted average exercise price, Cancelled">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriod_pid_c20260101__20260331_zBS6qZo98zo9" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Vested">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsVestedInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331_zONJN3IYJzY9" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Vested">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Unvested balance, March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260331_zjaAKwr1FpBh" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, Ending">175,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260331_zSvZ82T7L1Hc" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, ending balance">4.04</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331_zdnwAhtWitpb" title="Weighted average remaining life years">7.81</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable, March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20260101__20260331_zwoHQu5ZzN2g" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, ending exercisable">175,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20260101__20260331_zqZnVxXAZCOh" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Exercisable ending balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

195940

46860

4.268

The options were granted on May 22, 2024, and the options vest at a rate of 23,430 per year for two years, effective on May 22, 2024.

73000

3.88

0.050

0.0465

P5Y

4.268

0.888

2029-05-21

103140

4.0

51,570

160000

3.88

0.050

0.0465

P10Y

4.0

0.888

2034-05-21

200000

4.0

The options were granted on May 22, 2024, and vest at a rate of 100,000 shares per year for two years, effective on May 22, 2024.

272000

3.88

0.050

0.0465

P10Y

4.0

0.888

2034-05-21

29395

90480

<p id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_z1pLF40ro544" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The following table summarizes the Company’s share option activity: SCHEDULE OF SHARE OPTION ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of Options</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Life in Years</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; padding-bottom: 2.5pt">Unvested balance, December 31, 2025</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260331_z5AFtCFqW427" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Number of options, Beginning">175,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260331_zOnLKQunupnl" style="border-bottom: Black 2.5pt double; width: 14%; text-align: right" title="Weighted average exercise price, beginning balance">4.04</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_zQsGGYWVyZ8h" title="Weighted average remaining life years">8.06</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable, December 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iS_c20260101__20260331_zhjiLNRgM6Ha" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, beginning exercisable">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iS_c20260101__20260331_z6lM0TtlVWb8" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Exercisable beginning balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260331_zSnH9dg0eaa" style="text-align: right" title="Number of options, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331_zvZL7kRKVdkh" style="text-align: right" title="Weighted average exercise price, Granted">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cancelled</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_pid_c20260101__20260331_zM8rqF20bPn" style="text-align: right" title="Number of options, Cancelled">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331_zI2oP0XQK3ni" style="text-align: right" title="Weighted average exercise price, Cancelled">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriod_pid_c20260101__20260331_zBS6qZo98zo9" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options, Vested">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsVestedInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331_zONJN3IYJzY9" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Vested">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Unvested balance, March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260331_zjaAKwr1FpBh" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, Ending">175,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260331_zSvZ82T7L1Hc" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, ending balance">4.04</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331_zdnwAhtWitpb" title="Weighted average remaining life years">7.81</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable, March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20260101__20260331_zwoHQu5ZzN2g" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, ending exercisable">175,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20260101__20260331_zqZnVxXAZCOh" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Exercisable ending balance">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

175000

4.04

P8Y21D

175000

4.04

P7Y9M21D

175000

NOTE 17 — COMMITMENTS AND CONTINGENCIES Contingencies The Company may be involved in certain legal proceedings, claims and disputes arising from the commercial operations, which, in general, are subject to uncertainties and in which the outcomes are not predictable. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. Although the Company can give no assurances about the resolution of pending claims, litigation or other disputes and the effect such outcomes may have on the Company, the Company believes that any ultimate liability resulting from the outcome of such proceedings, to the extent not otherwise provided or covered by insurance, will not have a material adverse effect on the Company’s condensed consolidated balance sheets or results of operations or liquidity as at March 31, 2026 and December 31, 2025, except the two discussed below. Litigation Taizhou Nebula Power Co. Ltd. v. Massimo Motor Sports, LLC On July 8, 2024, the Company received a final judgment from the trial court in the lawsuit that was filed by Taizhou Nebula Power Co, Ltd. (“Nebula”) on September 15, 2020. The final judgment awarded Nebula $3,334,542 in damages, $1,436,809 in attorneys’ fees and other court costs, and $1,217,610 in interest on balances from September 15, 2020. In connection with this judgment, the Company recorded an additional accrual of $3,645,092 as of December 31, 2024, bringing the total accrual related to this lawsuit to $5,988,961 and $5,988,961 as of March 31, 2026 and December 31, 2025, respectively. The Company commenced an appeal in August 2024 and filed its appellant’s brief in January 2025. As of the date of this Report, there have been no further updates regarding this legal proceeding. Zhejiang Qunying Vehicle Co., Ltd. v. Cho International, Inc On September 5, 2023, Zhejiang Qunyinh Vehicle Co., Ltd. (“Zhejiang”) filed suit against the Company and ten other corporate entities in the Superior Court of the State of California for Orange County. Zhejiang alleges claims of approximately $6,000,000 in damages for products that were allegedly shipped to the United States but not paid for. Despite being one of the ten entities that plaintiff has sued, the Company has had minimal interactions with Zhejiang. The Company has not purchased any products from Zheijang. In February 2024, Zhejiang filed a Second Amended Complaint. The Company filed a demurrer seeking to dismiss the Second Amended Complaint due to Zhejiang’s failure to state a valid claim in March 2024. In August 2024, the Court denied in part and granted in part the Company’s demurrer. As a result, Zhejiang still has valid claims against the Company. The trial is scheduled for March 2026. Based on the current assessment, the outcome of the legal proceeding is considered remote. Therefore, no accrual has been proposed in the financial statements. As of the date of this Report, there are no further updates regarding this legal proceeding.

3334542

1436809

1217610

3645092

5988961

6000000

NOTE 18 — SEGMENT REPORTING An operating segment is a component of the Company that engages in business activities from which it may earn revenues and incur expenses, and is identified on the basis of the internal financial reports that are provided to and regularly reviewed by the Company’s chief operating decision maker in order to allocate resources and assess performance of the segment. The Company is primarily engaged in the business of manufacturing and sales of a wide selection of farm and ranch tested UTVs, recreational ATVs, and Pontoon Boats. The Company has identified that the Company engages in two distinct business activities, generating revenues from different products, and individually holds assets exceeding 10% of the Company’s consolidated total. Hence, the Company concludes that it has two reporting. <p id="xdx_897_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zKcUwl32Gc22" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The summary of key information by segments for the three months ended March 31, 2026 and 2025 was as follows: SCHEDULE OF KEY INFORMATION BY SEGMENTS For the three months ended March 31, 2026 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260101__20260331__srt--ProductOrServiceAxis__custom--UTVsAndATVsElectricBikesMember_zxshM9v8SmT1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Sales of UTVs, ATVs and e-bikes</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260101__20260331__srt--ProductOrServiceAxis__custom--PontoonBoatsMember_zpKjGPf5X597" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Sales of Pontoon Boats</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260101__20260331_zd9MPrEPkwZf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zZrddGmZZOZ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Revenue from external customers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,345,833</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">369,163</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,714,996</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostOfGoodsAndServicesSold_zoCnQsWbvwfc" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,382,341</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">257,074</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,639,415</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--GrossProfit_z9rA1YgMz3B9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gross profit (loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,963,492</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">112,089</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,075,581</td><td style="text-align: left"> </td></tr> </table> For the three months ended March 31, 2025 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250331__srt--ProductOrServiceAxis__custom--SalesOfUTVsAndATVsElectricBikesMember_zTE83Zu1XAy3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Sales of UTVs, ATVs and e-bikes</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250331__srt--ProductOrServiceAxis__custom--SalesOfPontoonBoatsMember_zHWBgSIkjLFf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Sales of Pontoon Boats</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250101__20250331_zARfUzpkPMgh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zkEsmEmRkGu5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Revenue from external customers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">15,424,435</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(522,713</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,901,722</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--CostOfGoodsAndServicesSold_c20250101__20250331__srt--ProductOrServiceAxis__custom--SalesOfUTVsAndATVsElectricBikesMember_z0ZMyuaIYE51" style="text-align: right">10,982,604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--CostOfGoodsAndServicesSold_di_c20250101__20250331__srt--ProductOrServiceAxis__custom--SalesOfPontoonBoatsMember_ztHqrMfCZd19" style="text-align: right">(305,532</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--CostOfGoodsAndServicesSold_c20250101__20250331_zCDDtdaurZzl" style="text-align: right">10,677,072</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--GrossProfit_z7pvhyNqmPKh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gross profit (loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,441,831</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(217,181</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,224,650</td><td style="text-align: left"> </td></tr> </table>

<p id="xdx_897_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zKcUwl32Gc22" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in">The summary of key information by segments for the three months ended March 31, 2026 and 2025 was as follows: SCHEDULE OF KEY INFORMATION BY SEGMENTS For the three months ended March 31, 2026 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260101__20260331__srt--ProductOrServiceAxis__custom--UTVsAndATVsElectricBikesMember_zxshM9v8SmT1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Sales of UTVs, ATVs and e-bikes</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260101__20260331__srt--ProductOrServiceAxis__custom--PontoonBoatsMember_zpKjGPf5X597" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Sales of Pontoon Boats</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260101__20260331_zd9MPrEPkwZf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zZrddGmZZOZ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Revenue from external customers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,345,833</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">369,163</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,714,996</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostOfGoodsAndServicesSold_zoCnQsWbvwfc" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,382,341</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">257,074</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,639,415</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--GrossProfit_z9rA1YgMz3B9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gross profit (loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,963,492</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">112,089</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,075,581</td><td style="text-align: left"> </td></tr> </table> For the three months ended March 31, 2025 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250331__srt--ProductOrServiceAxis__custom--SalesOfUTVsAndATVsElectricBikesMember_zTE83Zu1XAy3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Sales of UTVs, ATVs and e-bikes</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250331__srt--ProductOrServiceAxis__custom--SalesOfPontoonBoatsMember_zHWBgSIkjLFf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Sales of Pontoon Boats</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250101__20250331_zARfUzpkPMgh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zkEsmEmRkGu5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Revenue from external customers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">15,424,435</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(522,713</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,901,722</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--CostOfGoodsAndServicesSold_c20250101__20250331__srt--ProductOrServiceAxis__custom--SalesOfUTVsAndATVsElectricBikesMember_z0ZMyuaIYE51" style="text-align: right">10,982,604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_984_eus-gaap--CostOfGoodsAndServicesSold_di_c20250101__20250331__srt--ProductOrServiceAxis__custom--SalesOfPontoonBoatsMember_ztHqrMfCZd19" style="text-align: right">(305,532</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--CostOfGoodsAndServicesSold_c20250101__20250331_zCDDtdaurZzl" style="text-align: right">10,677,072</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--GrossProfit_z7pvhyNqmPKh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Gross profit (loss)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,441,831</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(217,181</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,224,650</td><td style="text-align: left"> </td></tr> </table>

12345833

369163

12714996

7382341

257074

7639415

4963492

112089

5075581

15424435

-522713

14901722

10982604

305532

10677072

4441831

-217181

4224650

NOTE 19 — SUBSEQUENT EVENTS The Company evaluated all events and transactions that occurred after March 31, 2026, up through the date the Company issued these condensed consolidated financial statements, and unless disclosed below, there are not any material subsequent events that require disclosure in these condensed consolidated financial statements.

false false false false