RELATED PARTY BALANCES AND TRANSACTIONS |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RELATED PARTY BALANCES AND TRANSACTIONS | NOTE 6. RELATED PARTY BALANCES AND TRANSACTIONS
Related Party Balances
(i) Amounts due to related parties:
Shuhua Liu and Chiu Kin Wong are major shareholders of the Company. Zenox Enterprises Inc. is owned by Chao Long Huang, the Chief Executive Officer and director of the Company.
In July 2025, an officer of the Company obtained financing from a third-party lender and subsequently advanced the proceeds to the Company. The loan matured on July 1, 2026. During the six months ended June 30, 2026, the Chief Executive Officer provided new advances to the Company totaling $242,046 (C$340,278), including advances provided under a new financing arrangement entered into on June 16, 2026. Under the terms of the agreement between the officer and the Company, the Company is responsible only for the actual third-party interest costs attributable to funds advanced to or for the benefit of the Company. The applicable interest is determined based on the relevant third-party financing agreement and the actual interest charged. The officer does not charge the Company any additional interest, margin, premium, markup, financing profit, or other personal economic benefit.
In January 2026, the Company repaid USD $20,000 to Zenox Enterprises Inc.
The amounts due to Shuhua Liu, Chiu Kin Wong and Zenox Enterprises Inc. are unsecured and have no specific repayment terms. Included in the $550,102 advanced from Chao Long Huang, $97,552 bears interest of 5.7% per annum and has no specific repayment date. The remaining $ 452,550 (C$ 629,419) bears interest rate at the greater of 6.24% per annum or CIBC Prime + 1.79% per annum, and is repayable on July 1, 2027. Accordingly, the Company recorded interest expense of $ 13,606 for the six months ended June 30, 2026.
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