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Related Party Balances and Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Balances and Transactions [Abstract]  
Related Party Balances and Transactions

Note 10 – Related Party Balances and Transactions

 

Other payables – related parties:

 

Name of related party  Relationship  Nature  December 31, 2024   December 31,
2023		 
               
Xiaojian Wang  Chief Executive Officer  Accrued compensations  $50,000   $
                     -
 
Xiaojian Wang  Chief Executive Officer  Interest-free loans to the Company*   349,485    
-
 
Xiaojian Wang  Chief Executive Officer  Invoices paid on behalf of the Company   50,000    
-
 
Zihao Zhao  Chief Finance Officer  Accrued compensations   50,833    20,833 
Zihao Zhao  Chief Finance Officer  Reimbursement   1,948    
-
 
Total        $502,266   $20,833 

 

*The terms of these loans are disclosed in Note 1- Liquidity.

 

As of December 31, 2024 and 2023, the balance of other payables - related parties were $502,266 and $20,833, respectively, mainly consisted of accrued compensations of the Company’s officers and interest- free loans received from the Company’s officers.

 

For the years ended December 31, 2024 and 2023, the Company recorded compensation expenses to its officers amounted to $80,000 and $120,833, respectively, for their services provided to the Company.