As of June 30, 2026 and December 31, 2025, long-term investments, net consist of the following:


	June 30, 2026			December 31, 2025
Investments in private entities or organizations that do not report NAV per share:
Entities or organizations without observable price changes	$	1,660,566		$	1,721,351
Investment in a public entity with readily determinable fair value		858,732			854,927
Less: accumulated impairment		(1,231,821	)		(1,276,912	)
Long-term investments, net	$	1,287,477		$	1,299,366

The Company recognized an unrealized gain on long-term investment in a public entity with readily determinable fair value of $115,206 and an unrealized loss of $63,320 for the three months ended June 30, 2026 and 2025, respectively, and an unrealized gain of $34,905 and an unrealized loss of $43,955 for the six months ended June 30, 2026 and 2025, respectively.

The Company recognized an unrealized loss of $180,622 and $340,568 on its long-term investment in Waqoo, Inc. (“Waqoo”), a public entity with readily determinable fair value, for the three months and six months ended June 30, 2025, respectively. Prior to the Company’s acquisition of Waqoo on December 19, 2025, Waqoo was a related party because the Company’s CEO was its principal shareholder.