Related Party Balances and Transactions (Tables)

6 Months Ended

Jun. 30, 2026

Related Party Balances and Transactions [Abstract]

Schedule of Related Parties Transactions

The table below sets forth major related parties of the Company and their relationships with the Company.

Name		Relationship with the Company
Mr. Tsai Ming Hsing, Richard (“Mr. Tsai”)		Controlling stockholder of the Company
Mr. Ng Wing Fai (“Mr. Ng”)		Chief Executive Officer and Executive Director of the Company
Ms. Wong Suet Fai Almond		Chief Operating Officer of the Company
JFA Capital		Investment private funds controlled by Mr. Tsai
NSD Capital		Investment private funds controlled by Mr. Tsai
TAG Holdings Limited		Stockholder and immediate holding company of the Company
TAG Financial Holdings Limited		Company controlled by Mr. Tsai
Convoy Financial Services Limited		Company controlled by Mr. Tsai
Convoy Global Holdings Limited		Company controlled by Mr. Tsai
Giant Wisdom Ventures Limited		Company controlled by Mr. Tsai
Green Nature Limited		Company controlled by Mr. Tsai, former sole stockholder of Series B Preferred Stock
Total Formation Inc.		Stockholder of the Company and company controlled by Mr. Tsai
Capital Truth Holdings Ltd.		Stockholder of the Company
DeSilva 2000 Living Trust		Company controlled by director of subsidiaries of the Company
HCMPS Healthcare Holdings Limited		Company with common director – Mr. Ng

The following table provides the transactions with these parties for the periods as presented (for the portion of such period that they were considered related):

				For the three months ended June 30,								For the six months ended June 30,
				2026				2025				2026				2025
Nature of transactions
Office rental and operating fees		(e)		$	—			$	1,187			$	663			$	2,365
Interest expense		(f)		$	2,293			$	764			$	3,586			$	1,399

(e)

Pursuant to the service agreement, the Company agreed to pay the office and administrative expenses to the holding company for the use of office premises, including, among other things, building management fees, government rates and rent, office rent, and lease-related interest and depreciation that were actually incurred by the holding company.

(f)	The interest expense incurred for borrowings from four related parties (see Note 8(b)).

Schedule of Related Party Balances

Related party balances consisted of the following:

				As of
				June 30, 2026				December 31, 2025
Balance with related parties:
Long-term investment – Investment E		(a)		$	520			$	524
Loan interest payable		(b)		$	9,340			$	5,778
Borrowings		(c)		$	52,810			$	48,959
Convertible debts		(d)		$	59,722			$	59,722

(a)	The Company purchased 4% equity interest in Investment E from a related party in May 2021, based on historical cost. The Company has a common director with Investment E.

(b)	Loan interest payable due to related parties represented the interest payable accrued on the short-term borrowings from four related parties.

(c)	Borrowings consisted of short-term loans obtained from the Company’s senior management, major stockholder of ultimate holding company, a company controlled by director of subsidiaries and a stockholder. The amounts were secured, interest-bearing and repayable on demand (see Note 8(b)).

(d)

TFI Note obtained from the Company’s major stockholder of ultimate holding company. The amount was secured, interest-bearing, and repayable on demand. The Company issued an exchangeable note of approximately $5.4 million to Giant Wisdom Ventures Limited which bears interest at a fixed rate of 15% per annum and mature on January 16, 2025. The note is secured by a pledge of 5,000,000 shares of common stock of BKFC owned by the Company (see Note 9).