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Related Party Balances and Transactions
 3 Months Ended
Mar. 31, 2025
Related Party Balances and Transactions [Abstract]  
Related Party Balances and Transactions

Note 7 – Related Party Balances and Transactions

 

Other payables – related parties:

 

Name of related party  Relationship  Nature  March 31,
2025		   December 31,
2024		 
         (unaudited)     
Xiaojian Wang  Chief Executive Officer  Accrued compensations  $62,500   $50,000 
Xiaojian Wang  Chief Executive Officer  Interest-free loans to the Company*   199,485    349,485 
Xiaojian Wang  Chief Executive Officer  Operating related fees paid on behalf of the Company   50,000    50,000 
Zihao Zhao  Chief Finance Officer  Accrued compensations   58,333    50,833 
Zihao Zhao  Chief Finance Officer  Reimbursement   1,958    1,948 
Total        $372,276   $502,266 

 

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

 

As of March 31, 2025 and December 31, 2024, the balance of other payables - related parties were $372,276 and $502,266, respectively, mainly consisted of accrued compensation of the Company’s officers and interest- free loans received from the Company’s officers. Up to the date the unaudited interim condensed consolidated financial statements were issued, the interest-free loans received from the Company’s officers were fully repaid.

 

For the three months ended March 31, 2025 and 2024, the Company recorded compensation expenses to its officers amounted to $20,000 and $20,000, respectively, for their services provided to the Company.