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Related Party Balances and Transactions
 9 Months Ended
Sep. 30, 2025
Related Party Balances and Transactions [Abstract]  
Related Party Balances and Transactions

Note 8 – Related Party Balances and Transactions

 

Other payables – related parties:

 

Name of related party  Relationship  Nature  September 30,
2025		   December 31,
2024		 
         (unaudited)     
Xiaojian Wang  Chief Executive Officer  Accrued compensations  $87,500   $50,000 
Xiaojian Wang  Chief Executive Officer  Interest-free loans to the Company*   
-
    349,485 
Xiaojian Wang  Chief Executive Officer  Operating related fees paid on behalf of the Company   41,635    50,000 
Zihao Zhao  Chief Finance Officer  Accrued compensations   60,833    50,833 
Zihao Zhao  Chief Finance Officer  Reimbursement   1,997    1,948 
Total        $191,965   $502,266 

 

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

 

Related Party Transaction

 

As disclosed in Note 1, the Company purchased 100% equity interest of Pallas from the Sellers, on September 29, 2025. Two shareholders of the Company, who beneficially own 11.4%, in the aggregate, of the outstanding shares of common stock of the Company, immediately before the execution of the Transaction, also serve as the directors and share voting and dispositive power over the shares issued by the Target. Accordingly, the Pallas Transaction constitutes a related party transaction for the Company pursuant to Item 404 of Regulation S-K.

As of September 30, 2025 and December 31, 2024, the balance of other payables - related parties were $191,965 and $502,266, respectively, mainly consisted of accrued compensation of the Company’s officers, interest - free loans received from the Company’s officers and operating related fees paid by the Company’s officer on behalf of the Company. As of September 30, 2025, the interest-free loans received from the Company’s officers were fully repaid.

 

For the three months ended September 30, 2025 and 2024, the Company recorded compensation expenses to its officers amounted to $37,500 and $20,000, respectively, for their services provided to the Company.

 

For the nine months ended September 30, 2025 and 2024, the Company recorded compensation expenses to its officers amounted to $89,536 and $60,000, respectively, for their services provided to the Company.