| Related Party Transactions |
Note 6. Related Party Transactions
Short-term debt
As of June 30, 2026 and December 31, 2025, the Company had short-term
debts to related parties of $3,555,801 and $3,359,729, respectively. The details of the loans are described as below.
At June 30, 2026:
| Schedule of debt | |
| |
| | | |
| |
| |
|
Name | |
Relationship to the Company | |
Amount | | |
Interest Rate | |
Start Date | |
Maturity |
| Shor-term debt | |
| |
| | | |
| |
| |
|
| Wei De Gang | |
CEO, Legal person and 30% owner of JXZD | |
$ | 2,517,606 | | |
15% | |
May 31, 2011 | |
May 31, 2014 |
| Zhao Yan Ling | |
Former office manager of JXZD, wife of Zhou Zhi Bin | |
| 15,477 | | |
15% | |
January 1, 2011 | |
December 31, 2013 |
| Zhou Zhi Bin | |
Former CEO & Legal person of JXZD | |
| 7,370 | | |
15% | |
January 1, 2011 | |
December 31, 2013 |
| Tang Yong Hong | |
Manager of JXZD | |
| 302,969 | | |
15% | |
February 28, 2015 | |
February 28, 2016 |
| Yan Chun Yan | |
Accountant of JXZD | |
| 947 | | |
15% | |
August 31, 2014 | |
August 31, 2015 |
| Victor Sun | |
Shareholder of ZDRI | |
| 365,132 | | |
15% | |
Various as of December 31, 2025 | |
On Demand |
| Victor Sun | |
Shareholder of ZDRI | |
| 16,500 | | |
15% | |
January 05, 2026 | |
January 05, 2027 |
| Victor Sun | |
Shareholder of ZDRI | |
| 16,500 | | |
15% | |
March 25, 2026 | |
March 25, 2027 |
| Victor Sun | |
Shareholder of ZDRI | |
| 18,500 | | |
15% | |
May 28, 2026 | |
May 27, 2027 |
| | |
| |
| | | |
| |
| |
|
| Current portion of long-term debt | |
| | | |
| |
| |
|
| Zhou Qiang | |
Office manager of JXZD | |
| 294,800 | | |
15% | |
December 18, 2012 | |
December 18,2015 |
| Total | |
| |
$ | 3,555,801 | | |
| |
| |
|
At December 31, 2025:
Name | |
Relationship to the Company | |
Amount | | |
Interest Rate | |
Start Date | |
Maturity |
| Shor-term debt | |
| |
| | | |
| |
| |
|
| Wei De Gang | |
CEO,
Legal person, and 30% owner of JXZD | |
$ | 2,442,454 | | |
15% | |
May 31, 2011 | |
May 31, 2014 |
| Zhao Yan Ling | |
Former office manager of JXZD, wife of Zhou Zhi Bin | |
| 15,015 | | |
15% | |
January 1, 2011 | |
December 31, 2013 |
| Zhou Zhi Bin | |
Former CEO & Legal person of JXZD | |
| 7,150 | | |
15% | |
January 1, 2011 | |
December 31, 2013 |
| Tang Yong Hong | |
Manager of JXZD | |
| 293,925 | | |
15% | |
February 28, 2015 | |
February 28, 2016 |
| Yan Chun Yan | |
Accountant of JXZD | |
| 335 | | |
15% | |
August 31, 2014 | |
August 31, 2015 |
| Victor Sun | |
Shareholder of ZDRI | |
| 232,350 | | |
15% | |
Various as of December 31, 2024 | |
On Demand |
| Victor Sun | |
Shareholder of ZDRI | |
| 12,500 | | |
15% | |
February 12, 2025 | |
February 12, 2026 |
| Victor Sun | |
Shareholder of ZDRI | |
| 10,000 | | |
15% | |
April 16, 2025 | |
March 15, 2026 |
| Victor Sun | |
Shareholder of ZDRI | |
| 18,000 | | |
15% | |
July 15, 2025 | |
July 15, 2026 |
| Victor Sun | |
Shareholder of ZDRI | |
| 15,000 | | |
15% | |
August 18, 2025 | |
August 17, 2026 |
| Victor Sun | |
Shareholder of ZDRI | |
| 13,500 | | |
15% | |
September 24, 2025 | |
September 24, 2025 |
| Victor Sun | |
Shareholder of ZDRI | |
| 13,500 | | |
15% | |
November 18,2025 | |
November 18, 2026 |
| | |
| |
| | | |
| |
| |
|
| Current portion of long-term debt | |
| |
| | | |
| |
| |
|
| Zhou Qiang | |
Office manager of JXZD | |
| 286,000 | | |
15% | |
December 18, 2012 | |
December 18,2015 |
| Total | |
| |
$ | 3,359,729 | | |
| |
| |
|
As of June 30, 2026 and December 31, 2025, the Company had accrued
interest payable to the related parties of $7,278,000 and $6,886,113, respectively. For the periods ended June 30, 2026 and 2025, the
Company recorded interest expense of $263,275 and $246,924, respectively. The Company has received no demands for repayment of matured
debt instruments.
|