| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets consist
of the following:
| | |
March 31,
2026 | | |
December 31,
2025 | |
| | |
(Unaudited) | | |
| |
| Advance to suppliers | |
$ | 24,040 | | |
$ | 3,638 | |
| | |
| | | |
| | |
| Security deposit (i) | |
| 56,973 | | |
| 56,198 | |
| Prepaid market research fees (ii) | |
| 955,000 | | |
| 955,000 | |
| Interest receivable (ii) | |
| 68,693 | | |
| 60,570 | |
| Tax receivable (iii) | |
| - | | |
| 105,370 | |
| Others receivable (iv) | |
| 11,705 | | |
| 8,840 | |
| Prepaid expenses and other current assets | |
$ | 1,116,411 | | |
$ | 1,189,616 | |
| (i) | On July 28, 2021, Sichuan Vtouch made a security deposit of RMB393,000 (equivalent to $56,973) to Chengdu Cross-Strait Science and Technology Industry Development Park Management Committee to obtain a construction license for its new facility. This deposit will be refunded upon the completion of the new facility. | | | | | (ii) | On February 29, 2024, the Company advanced market research fees $70,000 and $855,000, respectively, to two unrelated individuals, Mr. Chien Hui Chueh and Mr. Cheung Ming Lin, in relation to the Company’s market research service overseas. The two individuals signed borrowing contracts with a principal amount of $70,000 and $855,000, respectively, on February 29, 2024. Those contracts were issued to the Company to evidence the advances, bearing 3.45% interest per annum, and payable on February 28, 2025, and later extended till August 29, 2026. | | | | | (iii) | Tax receivable mainly includes prepaid corporate income tax and value-added tax (VAT) refundable. | | | | | (iv) | Other receivables are mainly employee advances and prepaid expenses. |
|