v3.26.1
DISAGGREGATION OF REVENUES
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
DISAGGREGATION OF REVENUES

NOTE 16 — DISAGGREGATION OF REVENUES

Revenues generated from different revenue streams consist of the following:

 

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

SBC Core Segment

 

 

 

 

 

 

 

 

 

 

 

 

 Franchising revenue

 

$

9,515,061

 

 

$

10,007,581

 

 

$

18,606,801

 

 

$

25,726,863

 

 Procurement revenue

 

 

13,401,040

 

 

 

15,756,519

 

 

 

25,745,406

 

 

 

30,089,302

 

 Management services revenue

 

 

12,849,245

 

 

 

5,138,578

 

 

 

24,779,036

 

 

 

13,866,681

 

 Rental services revenue

 

 

3,875,860

 

 

 

6,851,176

 

 

 

7,311,782

 

 

 

12,491,690

 

 Others

 

 

5,032,354

 

 

 

5,604,993

 

 

 

11,291,097

 

 

 

8,513,012

 

Subtotal

 

 

44,673,560

 

 

 

43,358,847

 

 

 

87,734,122

 

 

 

90,687,548

 

Waqoo Segment

 

 

4,514,508

 

 

 

-

 

 

 

4,514,508

 

 

 

-

 

Total

 

$

49,188,068

 

 

$

43,358,847

 

 

$

92,248,630

 

 

$

90,687,548

 

 

During the six months ended June 30, 2026 and 2025, the Company recognized revenue of $1,413,371 and $843,755 from the opening balance of advances from customers, respectively; and recognized revenue of $2,036,931 and nil from the opening balance of advances from customers — related parties, respectively.

As of June 30, 2026 and December 31, 2025, and for the six months ended June 30, 2026 and 2025, substantially all of our long-lived assets and revenues generated were attributed to the Company’s operations in Japan. The remaining long-lived assets and revenues were primarily attributable to, or located in, Singapore.