|
Other current assets consisted
of the following:
| |
|
June 30,
2026 |
|
|
December 31,
2025 |
|
| Payments made on behalf of
a third party(a) |
|
$ |
315,000 |
|
|
$ |
315,000 |
|
| Prepaid expenses |
|
|
19,680 |
|
|
|
28,712 |
|
| Less: Allowance for credit losses |
|
|
(315,000 |
) |
|
|
(315,000 |
) |
| |
|
$ |
19,680 |
|
|
$ |
28,712 |
|
|
(a) |
Before entering into a Merger Agreement with FLFV, TP Holdings entered into a letter of intent with
Aetherium Acquisition Corp. (“GMFI”) to explore a potential business combination. TP Holdings paid extension loans in an amount
of $300,000
and working capital loans in an amount of $15,000
on behalf of GMFI. In March 2024, the letter of intent with GMFI was terminated. As of June 30, 2026 and December 31, 2025, the Company
provided full allowance for credit losses against the balance due to remote collection from GMFI. |
|