RELATED PARTY TRANSACTIONS |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 7 – RELATED PARTY TRANSACTIONS
From time to time, the Company borrows from the President of the Company and his wife for its normal business operations. The borrowing bear is unsecured, non-interest-bearing and due on demand. As of March 31 2026 and December 31, 2025, the total loans payable to these related parties were $10,977 and $8,465, respectively. During the three months ended March 31, 2026 and 2025, the advances from these two related parties were $7,168 and $22,413, respectively. The total repayments to these two related parties were $5,865 and $9,080, respectively, for the three months ended March 31, 2026 and 2025.
During the three months ended March 31, 2026 and 2025, the Company recognized employee compensation expenses of $13,171 and$12,538, respectively, to the related parties including the President, his wife and daughter. As of March 31, 2026 and December 31, 2025, the compensation payable to these related parties totaled $54,207 and $40,432, respectively, which was included in accounts payable and accrued liabilities on the consolidated balance sheet.
During the year ended December 31, 2025, the Company had offline product sales from related parties totaling $24,627. As of December 31, 2025, the accounts receivable from related parties was $28,597. As of March 31, 2026, the amount was paid in full.
WENYUAN GROUP CORP. AND SUBSIDIARIES
NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
|