| Related Parties |
6. Related Parties
A. List of related parties
List of related parties that had transactions with the Company for the periods covered by the unaudited interim condensed financial statements as of June 30, 2026 and December 31, 2025 is as follows:
| Relationship |
|
Name of entity |
| Individual that has control over the Company (*1) |
|
EUN JONG CHOI |
| Other related party (*2) |
|
CUBEBIO Co., Ltd. |
|
(*1) |
The Company recognized “EUN JONG CHOI” as a related party as EUN JONG CHOI is a key management personnel member as the CEO of the Company, holding 100% of its equity share. |
|
(*2) |
The Company recognized “CUBEBIO Co., Ltd.” as a related party since EUN JONG CHOI, an individual who has control over the Company, was simultaneously the CEO of “CUBEBIO Co., Ltd.” through January 30, 2026. Effective January 30, 2026, JAEMYUNG KIM was appointed as the CEO of “CUBEBIO Co., Ltd.” |
B. Account balances with related parties
Details of receivables and payables account balances with related parties as of June 30, 2026 and December 31, 2025 are as follows:
| Schedule of receivables and payables account balances related parties |
|
|
|
|
|
|
| |
|
|
|
|
June 30,
2026 |
|
| Related party |
|
Name of entity |
|
|
Payables |
|
|
Receivables |
|
| |
|
|
|
|
(In U.S. Dollar) |
|
| Individual that has control over the Company |
|
EUN JONG CHOI |
|
|
$ |
- |
|
|
|
54,058 |
|
| Other related party |
|
CUBEBIO Co., Ltd. |
|
|
|
32,435 |
|
|
|
- |
|
| Total |
|
|
|
|
$ |
32,435 |
|
|
|
54,058 |
|
| |
|
|
|
|
December 31,
2025 |
|
| Related party |
|
Name of entity |
|
|
Payables |
|
|
Receivables |
|
| |
|
|
|
|
(In U.S. Dollar) |
|
| Individual that has control over the Company |
|
EUN JONG CHOI |
|
|
$ |
- |
|
|
|
52,918 |
|
| Other related party |
|
CUBEBIO Co., Ltd. |
|
|
|
31,751 |
|
|
|
- |
|
| Total |
|
|
|
|
$ |
31,751 |
|
|
|
52,918 |
|
C. Financing transactions with related parties
Details of significant financing transactions with related parties for the six-months ended June 30, 2026 and 2025:
| Schedule of significant financial transactions with related parties |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
2026 |
|
| Related party |
|
Name of entity |
|
Account Name |
|
|
January 1 |
|
|
Increase |
|
|
Decrease |
|
|
June 30 |
|
| |
|
|
|
|
|
|
(In U.S. Dollar) |
|
| Individual that has control over the Company |
|
EUN JONG CHOI |
|
Other receivables |
|
|
$ |
52,918 |
|
|
|
1,140 |
(*1) |
|
|
- |
|
|
|
54,058 |
|
| Other related party |
|
CUBEBIO Co., Ltd. |
|
Promissory note payables |
|
|
|
31,751 |
|
|
|
684 |
(*2) |
|
|
- |
|
|
|
32,435 |
|
| |
|
|
|
|
|
|
2025 |
|
| Related party |
|
Name of entity |
|
Account Name |
|
|
January 1 |
|
|
Increase |
|
|
Decrease |
|
|
June 30 |
|
| |
|
|
|
|
|
|
(In U.S. Dollar) |
|
| Individual that has control over the Company |
|
EUN JONG CHOI |
|
Other receivables |
|
|
$ |
50,618 |
|
|
|
1,140 |
(*3) |
|
|
- |
|
|
|
51,758 |
|
| Other related party |
|
CUBEBIO Co., Ltd. |
|
Promissory note payables |
|
|
|
30,371 |
|
|
|
684 |
(*4) |
|
|
- |
|
|
|
31,055 |
|
|
(*1) |
The Company recognized interest income accrued under an agreement to issue 50,000 shares of common share in consideration for gross proceeds of $50,000 during the six months ended June 30, 2026. |
|
(*2) |
The Company recognized interest expense accrued under a promissory note to pay $30,000 issued for common share issuing-related costs and organization costs paid by CubeBio Co., Ltd. on behalf of the Company during the six months ended June 30, 2026. |
|
(*3) |
The Company recognized interest income accrued under an agreement to issue 50,000 shares of common share in consideration for gross proceeds of $50,000 during the six months ended June 30, 2025. |
|
(*4) |
The Company recognized interest expense accrued under a promissory note to pay $30,000 issued for common share issuing-related costs and organization costs paid by CubeBio Co., Ltd. on behalf of the Company during the six months ended June 30, 2025. |
|
6. Related Parties
A. List of related parties
List of related parties that had transactions with the Company for the periods covered by the financial statements as of December 31, 2025 and 2024 is as follows:
| Relationship |
|
Name of entity |
| Individual that has control over the Company (*1) |
|
EUN JONG CHOI |
| Other related party (*2) |
|
CUBEBIO Co., Ltd. |
| (*1) |
The Company recognized “EUN JONG CHOI” as a related party as EUN JONG CHOI is a key management personnel member as the CEO of the Company, holding 100% of its equity share. |
| (*2) |
The Company recognized “CUBEBIO Co., Ltd.” as a related party as EUN JONG CHOI, an individual that has control over the Company, is simultaneously the CEO of “CUBEBIO Co., Ltd.” |
B. Account balances with related parties
Details of receivables and payables account balances with related parties as of December 31, 2025 and 2024 are as follows:
| Schedule of receivables and payables account balances related parties |
|
|
|
|
|
|
| |
|
|
|
|
December 31,
2025 |
|
| Related party |
|
Name of entity |
|
|
Payables |
|
|
Receivables |
|
| |
|
|
|
|
(In U.S. Dollar) |
|
| Individual that has control over the Company |
|
EUN JONG CHOI |
|
|
$ |
- |
|
|
|
52,918 |
|
| Other related party |
|
CUBEBIO Co., Ltd. |
|
|
|
31,751 |
|
|
|
- |
|
| Total |
|
|
|
$ |
31,751 |
|
|
|
52,918 |
|
| |
|
|
|
|
December 31,
2024 |
|
| Related party |
|
Name of entity |
|
|
Payables |
|
|
Receivables |
|
| |
|
|
|
|
(In U.S. Dollar) |
|
| Individual that has control over the Company |
|
EUN JONG CHOI |
|
|
$ |
- |
|
|
|
50,618 |
|
| Other related party |
|
CUBEBIO Co., Ltd. |
|
|
|
30,371 |
|
|
|
- |
|
| Total |
|
|
|
$ |
30,371 |
|
|
|
50,618 |
|
C. Financing transactions with related parties
Details of significant financing transactions with related parties for the years ended December 31, 2025 and 2024 are as follows:
| Schedule of significant financial transactions with related parties |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
2025 |
|
| Related party |
|
Name of entity |
|
Account Name |
|
|
January 1 |
|
|
Increase |
|
|
Decrease |
|
|
December 31 |
|
| |
|
|
|
|
|
|
(In U.S. Dollar) |
|
| Individual that has control over the Company |
|
EUN JONG CHOI |
|
Other receivables |
|
|
$ |
50,618 |
|
|
|
2,300 |
(*1) |
|
|
- |
|
|
|
52,918 |
|
| Other related party |
|
CUBEBIO Co., Ltd. |
|
Promissory note payables |
|
|
|
30,371 |
|
|
|
1,380 |
(*2) |
|
|
- |
|
|
|
31,751 |
|
| Total |
|
|
|
$ |
80,989 |
|
|
|
3,680 |
|
|
|
- |
|
|
|
84,669 |
|
| |
|
|
|
|
|
|
2024 |
|
| Related party |
|
Name of entity |
|
Account Name |
|
|
September 24
(Inception) |
|
|
Increase |
|
|
Decrease |
|
|
December 31 |
|
| |
|
|
|
|
|
|
(In U.S. Dollar) |
|
| Individual that has control over the Company |
|
EUN JONG CHOI |
|
Other receivables |
|
|
$ |
- |
|
|
|
50,618 |
(*3) |
|
|
- |
|
|
|
50,618 |
|
| Other related party |
|
CUBEBIO Co., Ltd. |
|
Promissory note payables |
|
|
|
- |
|
|
|
30,371 |
(*4) |
|
|
- |
|
|
|
30,371 |
|
| Total |
|
|
|
$ |
- |
|
|
|
80,989 |
|
|
|
- |
|
|
|
80,989 |
|
| (*1) |
The Company recognized interest income accrued under an agreement to issue 50,000 shares of common share in consideration for gross proceeds of $50,000 during the year ended December 31, 2025, which originally commenced in 2024 and was subsequently extended from 2025 to 2026. |
| (*2) |
The Company recognized interest expense accrued under a promissory note to pay $30,000 issued for common share issuing-related costs and organization costs paid by CubeBio Co., Ltd. on behalf of the Company during the year ended December 31, 2025, which originally commenced in 2024 and was subsequently extended from 2025 to 2026. |
| (*3) |
The Company recognized interest income accrued under an agreement to issue 50,000 shares of common share in consideration for gross proceeds of $50,000 during the period from September 24, 2024 (inception), through December 31, 2024. |
| (*4) |
The Company recognized interest expense accrued under a promissory note to pay $30,000 issued for common share issuing-related costs and organization costs paid by CubeBio Co., Ltd. on behalf of the Company during the period from September 24, 2024 (inception), through December 31, 2024. |
|