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v3.25.1

Note 11 - Accrued expenses and other payables | 12 Months Ended
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Dec. 31, 2024
Notes |
Note 11 - Accrued expenses and other payables | Note 11 – Accrued expenses and other payables
|  | As of December 31, 202 4 |  |  | As of December 31, 202 3 |
Accrued expenses (i) |  | $ | 279,394 |  |  | $ | 80,018 |
Accrued payroll |  |  | 1,032,493 |  |  |  | 948,371 |
Estimated warranty liabilities (ii) |  |  | 40,396 |  |  |  | 65,073 |
Intercourse funds payable (iii) |  |  | 97,722 |  |  |  | 196,479 |
Total accrued expenses and other payables |  | $ | 1,450,005 |  |  | $ | 1,289,941 |
(i) | Accrued expenses
The balance of accrued expenses represented amount due to third parties service providers which include marketing consulting service, IT related professional service, legal, audit and accounting fees, and other miscellaneous office related expenses.
(ii) | Estimated warranty liabilities
The assurance-type warranties are accounted for as warranty obligations and are accrued in accordance with ASC 460-10, which details the accounting for guarantees. The warranty liability estimate is based on the average historical defect and replacement rate of each major product category, and multiplied by the total sale amount of the category for each year.
(iii) | Intercourse funds payable
The intercourse funds payable are those nontrade payables arising from transactions between the Company and certain third parties, such as advances made by the third party on behalf of the Company. Intercourse funds payable are due on demand.

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