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NOTE 4– ACCOUNTS RECEIVABLE
Accounts receivable consisted of the following on June 30, 2026, and December 31, 2025:
| | | June 30, | | | December 31, | |
| | | 2026 | | | 2025 | |
| Trade accounts receivable | | $ | 5,397,075 | | | $ | 3,567,961 | |
| Allowance for current expected credit losses | | | (166,238 | ) | | | (137,969 | ) |
| Total accounts receivable, net | | $ | 5,230,837 | | | $ | 3,429,992 | |
The roll-forward of the current expected credit losses for the periods ended June 30, 2026 and December 31, 2025 is as follows:
| | | June 30, | | | December 31, | |
| | | 2026 | | | 2025 | |
| Allowance for current expected credit losses at the beginning of the period | | $ | 137,969 | | | $ | 637,556 | |
| Bad debt expense | | | 32,627 | | | | 29,439 | |
| Receivables written off during the period | | | - | | | | (608,331 | ) |
| Effect of exchange rate changes | | | (4,358 | ) | | | 79,305 | |
| Allowance for current expected credit losses at the end of the period | | $ | 166,238 | | | $ | 137,969 | |
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