Related Party Transactions |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions | 11. Related Party Transactions
As of June 30, 2026 and December 31, 2025, amounts due from related parties were $ and $6,385, respectively. The balance as of December 31, 2025 consisted of a nontrade receivable from Mr. Yong Yang, a member of management of Fast Approach. The balance was unsecured, non-interest bearing and due on demand.
As of June 30, 2026 and December 31, 2025, the outstanding balance due to related parties was $3,434,031 and $2,948,824, respectively. During the six months ended June 30, 2026, the Company received advances of $449,134 from related parties for working capital purposes. Such advances are included in the balance due to related parties as of June 30, 2026. The balances represent advances for working capital needs of the Company, and are non-interest bearing and unsecured unless otherwise disclosed herein. Outstanding balances of significant parties are stated below:
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