| SCHEDULE OF INVENTORY NET |
As
of June 30, 2026 and December 31, 2025, inventories consisted of the following:
SCHEDULE OF INVENTORY NET
| | |
JUNE 30,
2026
(Unaudited) | | |
December 31,
2025 | |
| | |
| | |
| |
| Purchased goods | |
$ | 934,283 | | |
$ | 1,274,700 | |
| Freight-in costs | |
| 62,258 | | |
| 63,025 | |
| Inventory | |
| 996,541 | | |
| 1,337,725 | |
| Less: inventory impairment | |
| (225,058 | ) | |
| (268,260 | ) |
| Inventory, net | |
$ | 771,483 | | |
$ | 1,069,465 | |
|
As
of December 31, 2025 and 2024, the Company had inventory balances of $1,069,465 and $3,555,876, consisting of the following:
SCHEDULE
OF INVENTORY NET
| | |
December 31, | | |
December 31, | |
| | |
2025 | | |
2024 | |
| | |
| | |
| |
| Purchased goods | |
$ | 1,274,700 | | |
$ | 4,238,942 | |
| Freight-in costs | |
| 63,025 | | |
| 114,980 | |
| Inventory | |
| 1,337,725 | | |
| 4,353,922 | |
| Less: inventory impairment | |
| (268,260 | ) | |
| (798,046 | ) |
| Inventory, net | |
$ | 1,069,465 | | |
$ | 3,555,876 | |
|
| SCHEDULE OF INVENTORY IMPAIRMENT PROVISIONS |
The
activity in the inventory impairment reserve was as follows:
SCHEDULE OF INVENTORY IMPAIRMENT RESERVE
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
Three months ended | | |
Six months ended | |
| | |
June 30, | | |
June 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Balance at the beginning of the period | |
$ | 212,638 | | |
$ | 551,925 | | |
$ | 268,260 | | |
$ | 798,046 | |
| Addition | |
| 49,620 | | |
| 60,648 | | |
| 49,929 | | |
| 86,073 | |
| Deletion | |
| (37,200 | ) | |
| (234,841 | ) | |
| (93,131 | ) | |
| (506,387 | ) |
| Balance at the end of the period | |
$ | 225,058 | | |
$ | 377,732 | | |
$ | 225,058 | | |
$ | 377,732 | |
|
SCHEDULE
OF INVENTORY IMPAIRMENT PROVISIONS
| | |
| | | |
| | |
| | |
Years ended | |
| | |
December 31, | |
| | |
2025 | | |
2024 | |
| Balance at the beginning of the year | |
$ | 798,046 | | |
$ | - | |
| Addition | |
| 163,037 | | |
| 1,326,355 | |
| Deletion | |
| (692,823 | ) | |
| (528,309 | ) |
| Balance at the end of the year | |
$ | 268,260 | | |
$ | 798,046 | |
|