The
following table summarizes information regarding short-term loan payables from related parties as of June 30, 2026 and December 31, 2025.
Jaeman Lee is a family member of an independent director of the Company and Hangmuk Shin is the largest shareholder of Global Interactive
Technologies, Inc.
SCHEDULE OF SHORT TERM LOAN PAYABLES AND RELATED PARTY OUTSTANDING
| | |
Interest
Rate | | |
June
30, 2026
($) | | |
December
31, 2025
($) | |
| Taehoon Kim | |
| 0 | % | (3) |
| 569 | | |
| 583 | |
| Jaeman Lee | |
| 4.6 | % | (1),
(3) |
| 79,619 | | |
| 84,733 | |
| Hangmuk Shin | |
| 4.6 | % | (2) |
| 8,075 | | |
| 6,969 | |
| PixelArc
LLC | |
| 0 | % | (3) |
| 1,500 | | |
| 963 | |
| Total | |
| | | |
| 89,763 | | |
| 93,248 | |
| (1) |
The
interest rate applicable to Faning Korea, LLC is 4.6% per annum, whereas the interest rate applicable to Global Interactive Technologies,
Inc. is 0%. |
| (2) |
The
interest rate under the loan agreements executed through 2025 was 4.6% per annum, while the interest rate under the loan agreements executed
in 2026 was 0%. |
| (3) |
Certain
loans from Jaeman Lee and Taehoon Kim matured between January and May 2026 and remained outstanding at June 30, 2026. The applicable
loans from Jaeman Lee continued to accrue interest at 4.6% per annum, while the loan from Taehoon Kim was non-interest-bearing. No default
interest or penalties applied to these loans. Subsequent to June 30, 2026, the Company repaid the outstanding principal and accrued interest
in full, including repayment to Taehoon Kim and PixelArc LLC on July 2, 2026 and repayment to Jaeman Lee (on certain loans that matured
between January and May 2026) on July 8, 2026. |
|