| DEPOSITS AND OTHER ASSETS, NET |
NOTE 7 — DEPOSITS AND OTHER ASSETS, NET Deposits and other assets, net consisted of the following: | | | | | | | | | As of December 31, | | | 2025 | | 2024 | Deposits | | $ | 293,545 | | $ | 185,282 | Other receivables | | | 282,025 | | | 341,288 | Subtotal | | $ | 575,570 | | $ | 526,570 | Less: allowance of credit loss | | | (93,817) | | | (109,311) | Subtotal, net | | $ | 481,753 | | $ | 417,259 | Less: Long term portion | | | (241,205) | | | (121,505) | Deposits and other assets- current portion | | $ | 240,548 | | $ | 295,754 |
The movement of the allowance of credit losses is as follows: | | | | | | | | | | | | For the years ended December 31, | | | 2025 | | 2024 | | 2023 | Balance at the beginning | | $ | (109,311) | | $ | (112,343) | | $ | — | Additions charged to allowance for expected credit losses | | | — | | | — | | | (112,663) | Recovery and write off of allowance for expected credit losses | | | 20,282 | | | — | | | — | Foreign currency translation adjustments | | | (4,788) | | | 3,032 | | | 320 | Balance at the end | | $ | (93,817) | | $ | (109,311) | | $ | (112,343) |
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