NOTE 15 – COMMITMENTS AND CONTINGENCIES

Since September 2023, unauthorized individuals including Zheng Dai and Pijun Liu have repeatedly attempted to illegally interfere with the Company’s operations through the submission of false documents and initiation of multiple lawsuits. In response, the Chancery Court of Wyoming issued a preliminary injunction on January 5, 2024, explicitly prohibiting these individuals from acting on behalf of the Company, including contacting regulatory authorities and service providers, or issuing shares of the Company. The Company’s board of directors and management remain stable, and operations continue unaffected.

Although the related parties subsequently filed additional lawsuits (including claims for corporate records inspection, alleged loan guarantee and loan contract disputes, and a shareholder derivative action), the Company has actively taken legal measures to defend against them. Notable developments: (i) September 2024 WY District Court corporate records inspection action – on April 9, 2025, the court denied the plaintiff’s motion for preliminary injunction to enjoin future share issuances and, on December 1, 2025, granted the Company’s motion for summary judgment and denied the plaintiffs’ cross-motion, finding that the plaintiffs lacked statutory standing; (ii) May 2024 NY Court loan guarantee action – on January 6, 2026, the court denied the Company’s motion to dismiss, and the Company’s appeal remains pending; (iii) June 2025 Wyoming Chancery Court loan contract action – on October 8, 2025, the court denied the Company’s motion to dismiss, and on February 6, 2026, the court granted in part and denied in part the plaintiffs’ motion to dismiss the Company’s counterclaims, dismissing only the abuse of process counterclaim, and the matter is in the discovery phase; and (iv) August 2026 shareholder derivative action in the United States District Court for the Southern District of New York against Hechun Wei and Biming Guo, with the Company named as a nominal defendant – the action is in its preliminary stages. The Company firmly believes that the claims made by the opposing party are without factual or legal basis and will continue to take all necessary measures to protect the Company’s and shareholders’ rights and interests.

Other than the foregoing, the Company did not have any significant capital or other commitments, guarantees or contingencies as of September 30, 2026 and December 31, 2025.