| SCHEDULE OF PREPAID EXPENSES AND DEPOSITS, NET |
SCHEDULE OF PREPAID EXPENSES AND DEPOSITS, NET
| | |
June
30, 2026 | | |
December
31, 2025 | |
| | |
As
of | |
| | |
June
30, 2026 | | |
December
31, 2025 | |
| | |
| | |
| |
| Prepaid expenses | |
$ | 520,810 | | |
$ | 560,662 | |
| Deposit for investment (1) | |
| 24,531,431 | | |
| 23,816,398 | |
| Deposits to suppliers | |
| 215,523 | | |
| 206,003 | |
| Subtotal | |
| 25,267,764 | | |
| 24,583,063 | |
| Less: Allowance for credit
loss – Prepaid expenses | |
| (509,994 | ) | |
| (510,310 | ) |
| Total | |
$ | 24,757,770 | | |
$ | 24,072,753 | |
| |
(1) |
The
Company entered into an entrusted investment agreement with Bi Cheng Investment Management Limited (“Bi Cheng”) on March
11, 2025, whereby Bi Cheng is responsible to identify and manage suitable investment opportunities on behalf of the Company. The
deposit is refundable upon mutual agreement between the Company and Bi Cheng. Upon such agreement, the refund is expected to be made
within two months. |
|
| SCHEDULE OF CHANGES IN ALLOWANCE FOR DOUBTFUL ACCOUNTS |
Movements
of allowance for credit loss are as follows:
SCHEDULE OF CHANGES IN ALLOWANCE FOR DOUBTFUL ACCOUNTS
| | |
June
30, 2026 | | |
December
31, 2025 | |
| | |
As
of | |
| | |
June
30, 2026 | | |
December
31, 2025 | |
| | |
| | |
| |
| Beginning balance | |
$ | 510,310 | | |
$ | 67,768 | |
| Addition | |
| - | | |
| 510,310 | |
| Write off | |
| - | | |
| (71,051 | ) |
| Exchange rate effect | |
| (316 | ) | |
| 3,283 | |
| Ending balance | |
$ | 509,994 | | |
$ | 510,310 | |
|