| OTHER PAYABLES |
NOTE 6 – OTHER PAYABLES
Other Payables consisted of the following:
| |
|
June 30,
2026 |
|
|
December 31,
2025 |
|
| Compensation payable to officer and director (1) |
|
$ |
1,935,506 |
|
|
$ |
1,919,506 |
|
| Business taxes and other |
|
|
377,372 |
|
|
|
351,904 |
|
| Payable to Helpson’s Labor Union (2) |
|
|
154,165 |
|
|
|
149,385 |
|
| Payable to Chunming Dong (3) |
|
|
149,246 |
|
|
|
142,272 |
|
| Total Other Payables |
|
$ |
2,616,289 |
|
|
$ |
2,563,067 |
|
| (1) | Represents $44,000 of compensation payable to two members of the Company’s Board of Directors and executive compensation to Chairperson Li totaling $1,883,506 as of June 30, 2026 and $1,875,506 executive compensation to Chairperson Li as of December 31, 2025, respectively. |
| (2) | Represents non-interest borrowings from Helpson’s Labor Union otained in November 2024, with no specified repayment terms. |
| (3) | Represents an advance made to the Company in June 2025 from Chunming Dong, the husband of Chairperson Li. The advance was non-interest-bearing until December 31, 2025. Effective January 1, 2026, bears interest at 3.3% per annum. |
|