v3.26.3
Unaudited Condensed Consolidated Balance Sheets
Jun. 30, 2026
USD ($)
Dec. 31, 2025
USD ($)
CURRENT ASSETS    
Cash $ 83,513 $ 55,285
Inventories, net 949,136 969,039
Prepaid expenses 188,973 226,714
Other receivable 408,124 458,824
Deferred merger transaction costs 614,880 614,880
Other current assets 95,622 99,796
Total Current Assets 4,610,811 6,548,618
NON-CURRENT ASSETS    
Long-term investment, net 21,938,990 1,926,414
Property and equipment,net 4,061,109 1,314,590
Intangible asset, net 9,004,043 9,625,746
Construction in progress 3,665,923
Prepayment for land 40,354,232 40,424,276
Right of use assets, net 279,478 404,637
Prepayment for equipment and intangible assets – customer projects – related parties [1] 736,027 736,027
Prepayment for equipment and intangible assets – customer projects 279,710 279,710
Restricted cash 17,294 17,294
Deposits 208,938 451,225
Goodwill 4,573,819 4,573,819
Total Non-Current Assets 81,453,640 63,419,661
Total Assets 86,064,451 69,968,279
CURRENT LIABILITIES    
Short-term loans 7,627,143 8,084,409
Convertible long-term note payable - current 23,173,200 23,173,200
SAFE liabilities 10,130,000 10,020,000
Accounts payable 1,875,930 1,876,004
Accrued expenses 14,857,397 12,847,788
Other payable 15,552,230 13,393,328
Contract liability - current 762,000 762,000
Lease liabilities - current 120,537 176,873
Total Current Liabilities 90,261,283 77,088,086
NON-CURRENT LIABILITIES    
Lease liabilities - non-current 158,941 227,765
Total Non-Current Liabilities 158,941 227,765
Total Liabilities 90,420,224 77,315,851
STOCKHOLDERS’ DEFICIT    
Preferred Stock, $0.001 par value, 50,000,000 shares authorized, 0 shares issued and outstanding as of June 30, 2026 and December 31, 2025
Common Stock, $0.001 par value, 90,000,000 shares authorized, 19,653,886 shares issued and outstanding as of June 30, 2026 and December 31, 2025 19,653 19,653
Additional paid-in capital 117,750,008 117,527,066
Accumulated deficit (122,587,365) (124,949,228)
Accumulated other comprehensive income 461,931 54,937
Total Stockholders’ Deficit (4,355,773) (7,347,572)
Total Liabilities and Stockholders’ Deficit 86,064,451 69,968,279
Related Parties    
CURRENT ASSETS    
Other receivable - related parties 2,270,563 4,124,080
CURRENT LIABILITIES    
Other payable - related parties 11,488,106 1,302,278
Prepayment from customer - related party $ 4,674,740 $ 5,452,206
[1] These prepayments for equipment and intangible assets are related to ongoing projects.