v3.26.1
Short-Term Borrowings
6 Months Ended
Jun. 30, 2026
Short-Term Borrowings [Abstract]  
Short-term borrowings
(16)Short-term borrowings

 

The Group has loan agreements with BCM Europe AG and as of June 30, 2026, the outstanding balances were $860,000 (3.00% interest rate at June 30, 2026), which matures in March 2027 and $49,464 (0% interest rate at June 30, 2026), which matures in June 2028.

 

The Group has multiple loan agreements with an individual and as of June 30, 2026, the outstanding balance was $1,276,030 (0% interest rate at June 30, 2026), which mature various dates in 2026.

 

The Group has a loan agreement with Duksung Co., Ltd and as of June 30, 2026, the outstanding balance was $650,000 (7.00% interest rate at June 30, 2026), which matures in October 2026.

 

The Group has a loan agreement with BGLSI and as of June 30, 2026, the outstanding balance was $1,158,000 (0% interest rate at June 30, 2026), which matures in December 2026.

 

The Group has a loan agreement with Korea Technology Finance Corporation and as of June 30, 2026, the outstanding balance was $60,876 (3.73% interest rate at June 30, 2026), which matured in April 2026 and the Group is currently in negotiations with the lender to extend the maturity date.

 

The Group has loan agreements with Industrial Bank of Korea and as of June 30, 2026, the aggregate outstanding balance was $64,872 (2.60% interest rate at June 30, 2026), which mature between February 2027 and March 2027.

 

The Group has a loan agreement with KB Kookmin Bank and as of June 30, 2026, the outstanding balance was $60,759 (9.50% interest rate at June 30, 2026), which matures in August 2026.

 

The Group has a loan agreement with Korea SMEs and Startups Agency and as of June 30, 2026, the outstanding balance was $24,262 (3.73% interest rate at June 30, 2026), which matures in March 2027.

 

The Group has a loan agreement with BCM Europe AG and as of June 30, 2026, the outstanding balance was $25,500 (0% interest rate at June 30, 2026), which matures in 2026.

 

The Group has a convertible note agreement with White Lion Capital and as of June 30, 2026, the outstanding balance was $927,495 (5.00% interest rate at June 30, 2026), which mature various dates in 2027.

 

The Group has a loan agreement with BCM Europe AG and as of December 31, 2025, the outstanding balance was $1,062,091 (3.00% interest rate at December 31, 2025), which matures in 2026.

 

The Group has multiple loan agreements with an individual and as of December 31, 2025, the outstanding balance was $1,261,380 (0% interest rate at December 31, 2025), which mature various dates in 2026.

 

The Group has a loan agreement with Duksung Co., Ltd and as of December 31, 2025, the outstanding balance was $650,000 (7.00% interest rate at December 31, 2025), which matures in October 2026.

 

The Group has a loan agreement with BGLSI and as of December 31, 2025, the outstanding balance was $1,218,000 (0% interest rate at December 31, 2025), which matures in 2026.

 

The Group has multiple loan agreements with an individual and as of December 31, 2025, the outstanding balance was $105,000 (0% interest rate at December 31, 2025), which mature various dates in 2026.

 

The Group has a convertible note agreement with White Lion Capital and as of December 31, 2025, the outstanding balance was $46,804 (5.00% interest rate at December 31, 2025), which mature various dates in 2026.

Details of convertible note agreement with White Lion Capital issued on April 7, 2026 and outstanding as of June 30, 2026 are as follows:

 

Classification Details
Par value USD 1,055,556
     
Stated interest rate 5%
     
Guaranteed yield upon conversion -
     
Exercise price adjustments Issuance of new shares for consideration (paid-in capital increase), stock dividends and capitalization of reserves, mergers, capital reduction, stock split and consolidation, reduction of capital and stock consolidation, etc.
     
Conversion condition (a) Fixed Conversion Price
Rate: $1.00 per share of Common Stock.
Application: The Holder may utilize this fixed price for conversions at any time and from time to time.
(b) Alternative Conversion Price
Trigger Condition: Activated if the Company fails to cure its Nasdaq non-compliance deficiency by August 31, 2026, or if it cures the deficiency through a reverse stock split (defined as a “Deficiency Default”).
Rate: Equal to 90% of the Market Price (representing a 10% discount).
Market Price Definition: The lowest daily volume-weighted average price (VWAP) during the 15 Trading Day period ending on the latest complete Trading Day prior to the Conversion Date