| Schedule of Related Parties Transactions |
The related parties of the company with whom transactions
are reported in these financial statements are as follows:
| Name of entity or Individual | | Relationship with the Company and its subsidiaries | | ABVC BioPharma, Inc. (“ABVC”) | | Sole shareholder of BioKey Cayman | | BioLite Inc. (“BioLite”) | | A majority owned subsidiary of ABVC | | AiBtloPharma Inc. (“AiBtl”) | | A majority owned subsidiary of ABVC | | Rgene Corporation (the “Rgene”) | | The Chairman of Rgene is Mr. Tsung-Shann Jiang | | The Jiangs | | Mr. Tsung-Shann Jiang, the controlling beneficiary shareholder of Rgene, the Chief Scientific Officer (CSO) of ABVC, the Chairman and CEO of BioLite Holding Inc. and BioLite Inc. and the President and a member of board of directors of BioFirst Ms. Shu-Ling Jiang, a member of board of directors of ABVC and BioLite Inc. | During the six months ended June 30, 2026 and 2025, the Company
incurred interest expenses due to loans from ABVC. The interest expense recognized is as follows:
| | |
Three Months Ended | | |
Six Months Ended | |
| | |
June 30 | | |
June 30 | | |
June 30 | | |
June 30 | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| ABVC | |
$ | 42,270 | | |
$ | 36,264 | | |
$ | 83,766 | | |
$ | 77,392 | |
During the six months ended June 30, 2026 and
2025, the Company subleased certain facility and office spaces to ABVC and AiBtl. The sublease income recognized is as follows:
| | |
Three Months Ended | | |
Six Months Ended | |
| | |
June 30 | | |
June 30 | | |
June 30 | | |
June 30 | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| ABVC | |
$ | 3,000 | | |
$ | 2,400 | | |
$ | 6,000 | | |
$ | 4,800 | |
| AiBtl | |
| 3,000 | | |
| 3,000 | | |
| 6,000 | | |
| 6,000 | |
| Total | |
$ | 6,000 | | |
$ | 5,400 | | |
$ | 12,000 | | |
$ | 10,800 | |
Due from related parties
| | |
June 30,
2026
(Unaudited) | | |
December 31,
2025 | |
| AiBtl | |
$ | 12,558 | | |
$ | 24,558 | |
Amount due to related parties consisted of the
following as of the periods indicated:
| | |
June 30,
2026
(Unaudited) | | |
December 31,
2025 | |
| ABVC (1) | |
$ | 4,363,201 | | |
$ | 4,089,971 | |
| BioLite (2) | |
| 211,068 | | |
| 208,798 | |
| AiBtl | |
| 18,000 | | |
| - | |
| Management(3) | |
| 38,000 | | |
| - | |
| Total | |
$ | 4,630,269 | | |
$ | 4,298,769 | |
| Accrued interest payable to ABVC (1) | |
$ | 667,613 | | |
$ | 583,847 | |
| (1) | Since 2020, the Company has been relying on ABVC’s recurring loans to support the Company’s operation. These loans bore an interest rate of 1.5% to 6.5% per annum. As of June 30, 2026 and December 31, 2025, the loan principal amounted to $2,665,911 and $2,629,911, respectively. The remaining balances are accrued interest and operating expenses paid by ABVC on behalf of the Company. This amount is due and payable upon demand by ABVC. | | | | | (2) | Mainly payables to clinical development services, offsetting by certain payments made by the Company on behalf of BioLite. The advances bear no interest. | | | | | (3) | In June 2026, management of Biokey advanced $38,000 to Biokey for working
capital purposes. The advances bear an interest rate of 3.75% per annum, starting from June 3, 2026 for 6 months. |
|