| SCHEDULE OF RELATED PARTIES |
The
following is a list of related parties which the Company has transactions with:
SCHEDULE OF RELATED PARTIES
| No. |
|
Name
of Related Parties |
|
Relationship |
| 1 |
|
Ming-Chia
Huang |
|
Chief
Executive Officer, Chairman of the Board of Directors and shareholder of the Company |
| 2 |
|
Ming-Chao
Huang |
|
Director
and shareholder of the Company |
| 3 |
|
Cetus
Sponsor LLC |
|
|
| 4 |
|
AWinner
Limited |
|
Shareholder
of the Company since March 24, 2025 and Affiliates of Cetus Sponsor LLC |
| 5 |
|
Ms.
Ya-Hui |
|
Spouse
of Ming-Chia Huang |
| 6 |
|
Lu
Huang |
|
Shareholder
of the Company since July, 2025 |
Amounts
due from related parties consisted of the following for the periods indicated:
| | |
| |
As of | |
| | |
| |
December 31,2025 | | |
June 30,2026 | |
| | |
| |
| | |
(Unaudited) | |
| Related parties | |
Nature | |
| | |
| |
| Cetus Sponsor LLC | |
Loan to a related party | |
$ | | |
$ | |
| AWinner Limited | |
Loan to a related party | |
| 875,000 | | |
| 875,000 | |
| Total | |
| |
$ | 947,487 | | |
$ | 947,605 | |
Amount
due to related parties consisted of the following for the periods indicated:
| | |
| |
As of | |
| | |
| |
December 31,2025 | | |
June 30,2026 | |
| | |
| |
| | |
(Unaudited) | |
| Related parties | |
Nature | |
| | | |
| | |
| Ming-Chia Huang (1) | |
Loan from related parties | |
$ | 1,354,052 | | |
$ | 2,965,637 | |
| Cetus Sponsor LLC | |
Loan from related parties | |
| | |
| |
| AWinner Limited | |
Loan from related parties | |
| 737 | | |
| 737 | |
| Ming-Chao Huang (2) | |
Loan from related parties | |
| 504,182 | | |
| 669,672 | |
| Lu Huang(4) | |
Loan from related parties | |
| 154,816 | | |
| 159,457 | |
| Ming-Chia Huang | |
Expense paid on behalf the Company | |
| 9,311 | | |
| - | |
| Ming-Chao Huang | |
Expense paid on behalf the Company | |
| 4,651 | | |
| - | |
| Ms. Ya-Hui | |
Expense paid on behalf the Company | |
| 429 | | |
| 580 | |
| Total | |
| |
$ | 2,067,178 | | |
$ | 3,835,083 | |
| (1) | The
Company continuously entered into certain loan arrangements with Ming-Chia Huang and obtained
loans from him with annual interest rates ranging from 3.5% to 7.0%. During the six months
ended June 30, 2026, the Company obtained additional loans from Ming-Chia Huang in the aggregate
amount of approximately US$1,649,904, and repaid approximately US$38,319. The balance due
to Ming-Chia Huang increased by approximately US$1,611,585, from US$1,354,052 as of December
31, 2025 to US$2,965,637 as of June 30, 2026. |
| (2) | The
Company continuously entered into certain loan arrangements with Ming-Chao Huang and obtained
loans from him with an annual interest rate of 6.0%. During the six months ended June 30,
2026, the Company obtained additional loans from Ming-Chao Huang in the aggregate amount
of approximately US$206,216, and repaid approximately US$40,726. The balance due to Ming-Chao
Huang increased by approximately US$165,490, from US$504,182 as of December 31, 2025 to US$669,672
as of June 30, 2026. |
(d)
Related party transactions
| | |
For the six months ended June 30, | |
| | |
2025 | | |
2026 | |
| | |
(Unaudited) | |
| Interest expenses of loans from related parties | |
| | |
| |
| Ming-Chia Huang | |
$ | 7,480 | | |
$ | 36,096 | |
| Ming-Chao Huang | |
| - | | |
| 5,579 | |
| Lu Huang | |
| - | | |
| 2,976 | |
| Proceeds of loans from related parties | |
| | | |
| | |
| Ming-Chao Huang | |
| (395,287 | ) | |
| (179,511 | ) |
| Ming-Chia Huang | |
| (678,000 | ) | |
| (976,831 | ) |
| Debt to equity conversion | |
| | | |
| | |
| AWinner Limited | |
| 1,110,000 | | |
| - | |
| Ming-Chia Huang | |
| 823,100 | | |
| - | |
| Ms. Ya-Hui | |
| 550,000 | | |
| - | |
| Repay of loans from related parties | |
| | | |
| | |
| Ming-Chia Huang | |
| - | | |
| 38,319 | |
| Ming-Chao Huang | |
| - | | |
| 29,476 | |
| Repayment of the Convertible Note | |
| | | |
| | |
| Ming-Chia Huang | |
| - | | |
| 651,716 | |
| Repurchase of Pre-Delivery Shares of Convertible Note | |
| | | |
| | |
| Ming-Chia Huang | |
| - | | |
| 180 | |
|