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Loans - Unrelated parties

12 Months Ended

Dec. 31, 2025

Note 11 - Loans - Unrelated parties

Short-term loans primarily consist of multiple term loan facilities obtained by AiChat, a subsidiary of the Company, carrying an average interest rate of approximately 8.9% as of December 31, 2025. These facilities were entered into to support AiChat’s operating and working capital requirements. In addition, short-term loans previously included a separate facility utilized by the Company to finance premiums related to directors’ and officers’ insurance coverage.

As of December 31, 2025, short-term loans to unrelated parties consisted of term loan facilities with an aggregate outstanding balance of $219,990, net of an interest reserve of $10,389, resulting in total short-term debt of $209,601. As of December 31, 2024, short-term loans to unrelated parties totaled $519,153, net of an interest reserve of $20,354.

Short-term loan balances as of December 31, 2025, and December 31, 2024, are summarized as follows

	Average Interest Rate as of December 31, 2025			December 31, 2025			December 31, 2024
Term Loan Facility		8.90	%	$	219,990		$	388,819
D&O Insurance					-			150,688
Less: Interest Reserve					(10,389	)		(20,354	)
Total Debt				$	209,601		$	519,153

b. Summary of Long-Term Loans - Unrelated Parties

AiChat has obtained multiple long-term loans from external lenders to support general operating needs. As of December 31, 2025, these loans bore an average interest rate of approximately 6.5% and had contractual maturities ranging from 2024 through 2028.

As of December 31, 2025, long-term loans to unrelated parties consisted of term loan facilities with an aggregate outstanding balance of $93,997, net of an interest reserve of $5,586, resulting in total long-term debt of $88,411. As of December 31, 2024, long-term loans to unrelated parties totaled $241,121, net of an interest reserve of $17,933, and included a vehicle loan with a maturity date of 2029, which was repaid during 2025. Long-term loan balances as of December 31, 2025, and December 31, 2024, are summarized as follows

	Maturity Year		Average Interest Rate as of December 31, 2025			December 31, 2025			December 31, 2024
Term Loan Facility		2024-2028		6.5	%	$	93,997		$	210,866
Vehicle Loan		2029		11	%		-			48,188
Less: Interest Reserve							(5,586	)		(17,933	)
						$	88,411		$	241,121