| SCHEDULE OF CONSOLIDATED FINANCIAL STATEMENTS OF VARIABLE INTEREST ENTITY |
|
|
|
|
|
|
|
December 31,
2025 |
|
ASSETS |
|
|
|
Current assets |
|
|
|
Cash and cash equivalents |
|
$ |
4,238,149 |
|
Accounts receivable |
|
|
10,615 |
|
Prepaid expenses and other current assets |
|
|
10,831 |
|
Total Current Assets |
|
|
4,259,595 |
|
|
|
|
|
Loans receivables from subsidiaries of the Company |
|
|
3,077,945 |
|
Other assets |
|
|
2,276 |
|
Total Non-current Assets |
|
|
3,080,221 |
|
Total Assets |
|
$ |
7,339,816 |
|
|
|
|
|
LIABILITIES |
|
|
|
Current Liabilities |
|
|
|
Accounts payable |
|
$ |
19,327 |
|
Accrued liabilities and other current liabilities |
|
|
17,824 |
|
Due to related party |
|
|
2,733,324 |
|
Total Current Liabilities |
|
|
2,770,475 |
|
|
|
|
|
Loan payable to a subsidiary of the Company |
|
|
8,265,846 |
|
Total Non-current Liabilities |
|
|
8,265,846 |
|
Total Liabilities |
|
$ |
11,036,321 |
|
NOTE 3 — VARIABLE INTEREST ENTITY (cont.)
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months
Ended June 30, |
|
|
For the Six Months
Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Revenues |
|
$ |
— |
|
|
$ |
41,002 |
|
|
$ |
— |
|
|
$ |
81,472 |
|
Total operating expenses |
|
$ |
17,763 |
|
|
$ |
116,431 |
|
|
$ |
39,647 |
|
|
$ |
164,231 |
|
Net loss |
|
$ |
(18,059 |
) |
|
$ |
(75,430 |
) |
|
$ |
(34,143 |
) |
|
$ |
(57,759 |
) |
|
|
|
|
|
|
|
|
|
|
|
For the Six Months
Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
Net cash used in operating activities |
|
$ |
(34,143 |
) |
|
$ |
(75,467 |
) |
Net cash provided by investing activities |
|
$ |
— |
|
|
$ |
25,000 |
|
Net cash used in financing activities |
|
$ |
(118,237 |
) |
|
$ |
(27,942 |
) |
|