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Note 15 - Income taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2024
Tables/Schedules  
Schedule of Deferred Tax Assets and Liabilities

   

 

As of

December 31,

2024

 

 

As of

December 31,

2023

 

 

 

 

 

 

Deferred Tax Assets

 

 

 

 

 

 

 

Net operating loss carryforwards

 

$

 496,028 

 

 

$

 423,228 

Allowance for credit losses

 

 

 115,111 

 

 

 

 151,335 

Lease liabilities

 

 

 216,316 

 

 

 

 96,541 

Total deferred tax assets

 

 

 827,455 

 

 

 

 671,104 

Less: valuation allowance

 

 

 (560,338)

 

 

 

 (574,563)

Deferred tax assets, net of valuation allowance

 

$

 267,117 

 

 

$

 96,541 

Net off against deferred tax liabilities

 

 

 (267,117)

 

 

 

 (96,541)

Net deferred tax assets

 

$

 - 

 

 

$

 - 

  

 

As of

December 31,

2024

 

 

As of

December 31,

2023

 

 

 

 

 

 

Deferred Tax Liabilities

 

 

 

 

 

 

 

Right-of-use assets

 

$

267,117

 

 

$

96,541

Deferred tax liabilities

 

$

267,117

 

 

$

96,541

Net off against deferred tax assets

 

 

(267,117)

 

 

 

(96,541)

Net deferred tax liabilities

 

$

-

 

 

$

-

 

The roll-forward of valuation allowance of deferred tax assets were as follows:

 

 

 

For the Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of the year

 

$

574,563

 

 

$

89,763

 

 

$

154,941

 

Additions

 

 

111,410

 

 

 

488,670

 

 

 

-

 

Utilization

 

 

-

 

 

 

-

 

 

 

(62,982)

 

Reversal

 

 

(112,902)

 

 

 

-

 

 

 

-

 

Exchange rate effect

 

 

(12,733)

 

 

 

(3,870)

 

 

 

(2,196)

 

Total income before income taxes

 

$

560,338

 

 

$

574,563

 

 

$

89,763