DUE TO/FROM RELATED PARTIES	6 Months Ended
Jun. 30, 2026
Due Tofrom Related Parties
DUE TO/FROM RELATED PARTIES	NOTE 7 — DUE TO/FROM RELATED PARTIES *Due to Alset Inc.* Alset Inc. (“AEI”) is our ultimate holding company that is incorporated in the United States of America. The amount due to AEI represents short-term working capital advances to the Company for its daily operations. There is no written, executed agreement and the amount due to AEI is non-interest bearing. Since the amount due to AEI is due upon request, it is classified as a current liability. The amounts due to AEI at June 30, 2026 and December 31, 2025 are $574,086 and $569,614 respectively. *Due to Alset International Limited.* Alset International Limited (“AIL”) is incorporated in Singapore and is a fellow subsidiary of the common parent company, Alset Inc. The amount due to AIL represents short-term working capital advances to the Company for its daily operations. There is no written, executed agreement and the amount due to AIL is non-interest bearing. Since the amount due to AIL is due upon request, it is classified as a current liability. The amounts due to AIL at June 30, 2026 and December 31, 2025 are $4,694,762 and $4,653,037, respectively. This balance is subject to a right of offset against other related party balances under common control and is presented on a net basis as “Due to related parties, net” on the condensed consolidated balance sheet. *Due from Alset Business Development Pte. Limited.* Alset Business Development Pte. Limited (“ABD”) is incorporated in Singapore and is a fellow subsidiary of Alset Inc. The amount due from ABD represents amount lent by ABD to Hapi Cafe Inc. for the investment in Ketomei Pte. Ltd in March 2022, and $5,000,000 lent from HWHPL to ABD in November 2024, with partial repayment of $707,000 received by the Company in December 2024. There is no written, executed agreement and the amount due from ABD is non-interest bearing. Since the amount due from ABD is due upon request, it is classified as a current asset. The amount due from ABD at June 30, 2026 and December 31, 2025 is $4,083,643 and $4,232,313, respectively. This balance is subject to a right of offset against other related party balances under common control and is presented on a net basis as “Due to related parties, net” on the condensed consolidated balance sheet. *Due from Hapi Metaverse Inc.* Hapi Metaverse Inc. (“HMI”) is incorporated in the United States of America and is a fellow subsidiary of Alset Inc. The amount due from represents short-term working capital advances for the Company to finance its daily operations, $5,000 from HMI and $121,510 from HotApp International Limited, a subsidiary of HMI, during the six months ended June 30, 2026. There is no written, executed agreement and the amount due from HMI is non-interest bearing. Since the amount due from HMI is due upon request, it is classified as a current asset. The amount due from HMI and its subsidiaries at June 30, 2026 and December 31, 2025 is $0 and $381,461, respectively. The decrease is mainly due to $509,067 forgiveness of liabilities provided by HWH and its subsidiaries, and the related cost is included in general and administrative expenses. This balance is subject to a right of offset against other related party balances under common control and is presented on a net basis as “Due to related parties, net” on the condensed consolidated balance sheet.

DUE TO/FROM RELATED PARTIES

6 Months Ended

Jun. 30, 2026

NOTE 7 — DUE TO/FROM RELATED PARTIES

Due to Alset Inc.

Alset Inc. (“AEI”) is our ultimate holding company that is incorporated in the United States of America. The amount due to AEI represents short-term working capital advances to the Company for its daily operations. There is no written, executed agreement and the amount due to AEI is non-interest bearing. Since the amount due to AEI is due upon request, it is classified as a current liability. The amounts due to AEI at June 30, 2026 and December 31, 2025 are $574,086 and $569,614 respectively.

Due to Alset International Limited.

Alset International Limited (“AIL”) is incorporated in Singapore and is a fellow subsidiary of the common parent company, Alset Inc. The amount due to AIL represents short-term working capital advances to the Company for its daily operations. There is no written, executed agreement and the amount due to AIL is non-interest bearing. Since the amount due to AIL is due upon request, it is classified as a current liability. The amounts due to AIL at June 30, 2026 and December 31, 2025 are $4,694,762 and $4,653,037, respectively. This balance is subject to a right of offset against other related party balances under common control and is presented on a net basis as “Due to related parties, net” on the condensed consolidated balance sheet.

Due from Alset Business Development Pte. Limited.

Alset Business Development Pte. Limited (“ABD”) is incorporated in Singapore and is a fellow subsidiary of Alset Inc. The amount due from ABD represents amount lent by ABD to Hapi Cafe Inc. for the investment in Ketomei Pte. Ltd in March 2022, and $5,000,000 lent from HWHPL to ABD in November 2024, with partial repayment of $707,000 received by the Company in December 2024. There is no written, executed agreement and the amount due from ABD is non-interest bearing. Since the amount due from ABD is due upon request, it is classified as a current asset. The amount due from ABD at June 30, 2026 and December 31, 2025 is $4,083,643 and $4,232,313, respectively. This balance is subject to a right of offset against other related party balances under common control and is presented on a net basis as “Due to related parties, net” on the condensed consolidated balance sheet.

Due from Hapi Metaverse Inc.

Hapi Metaverse Inc. (“HMI”) is incorporated in the United States of America and is a fellow subsidiary of Alset Inc. The amount due from represents short-term working capital advances for the Company to finance its daily operations, $5,000 from HMI and $121,510 from HotApp International Limited, a subsidiary of HMI, during the six months ended June 30, 2026. There is no written, executed agreement and the amount due from HMI is non-interest bearing. Since the amount due from HMI is due upon request, it is classified as a current asset. The amount due from HMI and its subsidiaries at June 30, 2026 and December 31, 2025 is $0 and $381,461, respectively. The decrease is mainly due to $509,067 forgiveness of liabilities provided by HWH and its subsidiaries, and the related cost is included in general and administrative expenses. This balance is subject to a right of offset against other related party balances under common control and is presented on a net basis as “Due to related parties, net” on the condensed consolidated balance sheet.