v3.26.1
Significant Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Significant Related Party Transactions [Abstract]  
Significant Related Party Transactions

NOTE 22 - Significant Related Party Transactions

 

In addition to the information disclosed in other notes, the Company has significant related party transactions as follows:

 

A.Name of related parties and relationships with the Company:

 

Related Party   Relationship
Well Thrive Limited (“WTL”)   Major stockholder
Ejectt Inc. (“Ejectt”)   Stockholder; Albert Hsu, a Director of Aerkomm, is the Chairman
STAR JEC INC. (“StarJec”)   Stockholder; Albert Hsu, a Director of Aerkomm, is the Chairman
AA Twin Associates Ltd. (“AATWIN”)   Georges Caldironi, COO of Aerkomm, is sole owner
EESquare Japan (“EESquare JP”)   Yih Lieh (Giretsu) Shih, President of Aircom Japan, is the Director
Yih Lieh (Giretsu) Shih   President of Aircom Japan
Louis Giordimaina   Chief Executive Officer, Interim Chief Financial Officer and Director of the Company
B.Significant related party transactions:

 

The Company has extensive transactions with its related parties. It is possible that the terms of these transactions are different from those which would result from transactions among wholly unrelated parties.

 

a.As of December 31, 2025 and 2024:

 

   December 31,
2025		   December 31,
2024		 
         
Other receivable from:        
- Loan:        
EESquare JP 1  $62,500   $196,988 
WTL4   4,002,727    3,879,683 
- Others:          
EESquare JP 1   -    19,063 
Ejectt3   520    518 
Kevin Wong6   -    37,288 
Others7   58,333    21,971 
Total  $4,124,080   $4,155,511 
           
Prepaid expenses to Ejectt3  $736,027   $2,146,807 
           
Prepayment from Ejectt3  $5,452,206    5,323,044 
           
Other payable to:          
AATWIN5  $19,047   $19,047 
Interest payable to WTL4   57,611    55,116 
Ejectt3   486,563    353,004 
StarJec2   100,389    100,025 
Kevin Wong6   -    172,675 
Others7   638,668    468,730 
Total  $1,302,278   $1,168,597 

 

1.Aircom Japan entered into a sublease agreement with EESquare JP for the period between March 5, 2019 and March 4, 2023 and extended another 2 years to March 4, 2025. Pursuant to the terms of this lease agreement, EESquare JP pays Aircom Japan a rental fee of approximately $662 per month as of December 31, 2025. $62,500 represents other receivable loans from EESquare JP as of December 31, 2025. These loans are interest free and have no maturity dates.

 

2.Aircom Japan entered into a housing service order on December 14, 2021 and a satellite service order on January 22, 2022 for one year period till January 21, 2023. On June 20, 2022, Aircom Japan also entered a teleport service order with StarJec for a half year period from June 1, 2022 to January 14, 2023. The amount represents receivable from StarJec for monthly service provided due to the service agreements. The monthly service charge is approximately ￥6,820,000 (approximately $51,800 as of December 31, 2022). Other payable represents deposits should be returned to Ejectt after service contracts ended as of December 31, 2025.

 

3.Represents prepayment paid by Ejectt to order 6 sets of antennas from Aircom Telecom with prepayment of $2,146,807 as of December 31, 2024 and $736,027 as of December 31, 2025. As of June 17, 2023, Aerkomm Taiwan entered into an agreement with Ejectt to appoints Ejectt as its exclusive sales agent in Taiwan with NTD 20,000,000 security deposit (approximately $609,942 as of December 31, 2024 and $637,552 as of December 31, 2025). In 4th quarter of 2023, Ejectt also entered into 3 orders with Aerkomm Japan to purchase 5 sets of equipment with approximately $4,330,592 as of December 31, 2023 and $3,877,912 as of December 31, 2024. Besides, 6 months service ordered in October 2023 for NTD 5,333,333 (approximately $174,178 as of December 31, 2023 and $168,510 as of December 31, 2024) with the Company. The number also includes the equipment purchased with Aerkomm for about $133,722 in October, 2023. The prepaid expenses of $2,076,138 as of December 31, 2023 and $2,146,807 as of December 31, 2024 which represents 3 new agreements signed with AKOM different entities for AirCinema Cube orders in year 2023.
4.The Company had loans from Well Thrive Limited (“WTL”) and paid off during 2023. The Company has interest payable balance of $48,310 as of December 31, 2025 and $55,116 as of December 31, 2024 (approximately NTD 1,807,000) from the past loans. The Company has other receivable of $4,002,727 and $3,879,683 from WTL due to operational needs as of December 31, 2025 and 2024, respectively. These other receivable loans do not have any stated interest rates or maturity dates.

 

5.Represents payable to AATWIN due to consulting agreement on January 1, 2019. The monthly consulting fee is €15,120 (approximately $17,000) and expired on December 31, 2021.

 

6.Represents long-term loan that Mixnet borrowed from its stockholder for business operating needs for $172,675 (approximately NTD 5,322,000) as of December 31, 2024. Kevin Wong was no longer a related party as of December 31, 2025.

 

7.Represents receivable/payable from/to management levels as a result of regular operating activities.

 

b.For the years ended December 31, 2025 and 2024

 

   Years Ended
December 31,		 
   2025   2024 
         
Cost of goods sold from Ejectt1   -    16,500 
Revenue Income from Ejectt2   -    1,294,202 
Rental income charged from EESquare JP3   9,040    7,923 

 

1.Represents 2 sets of antennas sold to Ejectt on January 30, 2023 and service income and handling fee charged to Ejectt for consultant service provided in 2023 per the exclusive agent agreement signed as of June 17, 2023.

 

2.Represent sales of hardware and technical service perform to Eject for the year ended December 31, 2024.

 

3.Aircom Japan entered into a sublease agreement with EESquare JP for the period between March 5, 2019 and March 4, 2023 and it has been renewed to March 4, 2025. Pursuant to the terms of this lease agreement, EESquare JP pays Aircom Japan a rental fee of approximately $710 (JPY 100,000) per month.