v3.26.1
Accounts Payable and Accrued Expenses
 6 Months Ended
Jun. 30, 2026
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Expenses

Note 6 – Accounts Payable and Accrued Expenses

 

Accounts payable and accrued expenses at June 30, 2026 and December 31, 2025 consist of the following:

 

                 
    June 30, 2026   December 31, 2025
Accounts payable   $ 739,812     $ 897,008  
Accrued interest     716,738       576,284  
Total   $ 1,456,553     $ 1,473,292  

 

Accounts payable consisted of $490,044 aged outstanding balances due to three vendors over 2 years.

 

The increase in accrued liabilities was due to the accrued interest of convertible notes and loan from SBA.

 

                 
    June 30, 2026   December 31, 2025
Accounts payable – related parties   $ 1,146,164     $ 1,146,164  
Accrued interest - related parties     264,127       233,650  
Other payables - related parties     1,918,803       1,883,744  
Total   $ 3,329,094     $ 3,263,558  

 

Accounts payable – related parties consisted of approximately $880,000 aged outstanding balances due to three major related parties for business purpose over 2 years.

 

Accrued interest – related parties consisted of unpaid interest from related parties note payable as of June 30, 2026.

 

Other payables consisted of approximately $1,904,353 advanced payments from three of the related parties for business purposes.