v3.26.3
Deposits, Prepayment, Other Receivables and Deferred Ipo Cost, Net
 6 Months Ended
Jun. 30, 2026
Deposits, Prepayment, Other Receivables and Deferred Ipo Cost, Net [Abstract]  
DEPOSITS, PREPAYMENT, OTHER RECEIVABLES AND DEFERRED IPO COST, NET

NOTE 5 — DEPOSITS, PREPAYMENT, OTHER RECEIVABLES AND DEFERRED OFFERING COST, NET

 

Deposits, prepayment, other receivables and deferred Offering cost, net consist of the following:

 

    June 30,
2026		     December 31,
2025		  
Current            
Other receivables   $ 831,363     $ 33,442  
Deposits     3,404,831       199,935  
Prepayment     171,436       120,542  
Loan receivable from a third party (a)     75,000       75,000  
Advanced payment to supplier     -       74,674  
Less: allowance for expected credit loss     (5 )     (5 )
    $ 4,482,625     $ 503,588  
                 
Deposit with a digital asset broker   $ 4,717     $ 34,987  
                 
Receivable from agents   $ 392,876     $ 794,116  
                 
Deferred Offering Costs, net     40,754       116,250  
                 
Deposit for land acquisition (b)   $ 4,714,749     $ 4,614,749  

 

(a) The loan is unsecured, interest free and is repayable on demand.

 

(b) No definitive agreement has been concluded to date regarding this deposit paid for the acquisition of land in Ras Al Khaimah, UAE.

 

The movement of allowances for expected credit loss is as follow:

 

    June 30,
2026		     December 31,
2025		  
Balance at beginning of the year   $ (5 )   $ (4 )
Reversal of provision (Provision)     -       (1 )
Ending balance   $ (5 )   $ (5 )