NOTE
3 — SHORT-TERM LOAN RECEIVABLES
The
following table summarizes information with regard to short-term loan receivables outstanding as of December 31, 2025 and December 31,
2024, and the interest income from short-term loan receivables is $0 and $0 for the year ended December 31, 2025 and December 31, 2024.
SCHEDULE
OF SHORT TERM LOAN RECEIVABLES
| | |
Interest Rate | |
December 31, 2025 ($) | | |
December 31, 2024 ($) | |
| LA PRIMERA CAPITAL INVESTMENT | |
0% | |
| - | | |
| 30.000 | |
| AMERIDGE CORPORATION | |
0.1% | |
| - | | |
| 11,000 | |
| HANRYU BANK CO. LTD | |
0% | |
| 349 | | |
| 14,721,563 | |
| FNS CO. LTD | |
0% | |
| - | | |
| 250,332 | |
| (-) Allowances for credit losses | |
| |
| (349 | ) | |
| (16,179,832 | ) |
| Total short-term loan | |
| |
| - | | |
| 338 | |
| ● |
For the fiscal year ended December 31, 2025, the Company wrote off short-term loan receivables in the amount of $349 compared to $16,179,823
for the year ended December 31, 2024. |
| ● |
Allowance for credit losses related to short-term loan receivables
denominated in foreign currencies was recognized. The bad debt expense presented in the statement of operations was translated using the
average exchange rate, while the allowance balance in the balance sheet was translated using the closing exchange rate. The difference
between these amounts arises from exchange rate fluctuations and does not represent an actual change in the amount of credit loss or additional
provision. |
GLOBAL
INTERACTIVE TECHNOLOGIES, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
|