v3.26.1
Accounts Payable and Accrued Expenses
 3 Months Ended
Mar. 31, 2026
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Expenses

Note 6 – Accounts Payable and Accrued Expenses

 

Accounts payable and accrued expenses at March 31, 2026 and December 31, 2025 consist of the following:

 

           
   March 31, 2026  December 31, 2025
Accounts payable  $749,893   $897,008 
Accrued interest   628,906    576,284 
Total  $1,378,799   $1,473,292 

 

Accounts payable consisted of $490,044 aged outstanding balances due to three vendors over 2 years.

 

The increase in accrued liabilities was due to the accrued interest of convertible notes and loan from SBA.

  

            
   March 31, 2026  December 31, 2025
Accounts payable – related parties  $1,146,164   $1,146,164 
Accrued interest - related parties   2,139,905    233,650 
Other payables - related parties   1,891,101    1,883,744 
Total  $3,286,070   $3,263,558 

 

Accounts payable – related parties consisted of approximately $880,000 aged outstanding balances due to three major related parties for business purpose over 2 years.

 

Accrued interest – related parties consisted of unpaid interest from related parties note payable as of March 31, 2026.  

 

Other payables consisted of approximately $1,891,101 advanced payments from three of the related parties for business purposes.