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Prepaid Expenses and Other Current Assets | 6 Months Ended
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Jun. 30, 2025
Prepaid Expenses and Other Current Assets [Abstract] |
PREPAID EXPENSES AND OTHER CURRENT ASSETS | NOTE 6 – PREPAID EXPENSES AND OTHER CURRENT ASSETS
|  |  |  | As of June 30, 2025 |  |  | As of December 31, 2024 |
Prepaid expenses |  |  |  |  | $ | 396,010 |  |  | $ | - |
Advance to supplier |  |  | (1) |  |  | 3,976,949 |  |  |  | 2,130,175 |
Prepayment for investment |  |  |  |  |  | - |  |  |  | 246,599 |
Other receivables |  |  |  |  |  | 1,891,737 |  |  |  | 772,252 |
Prepaid value added tax (“VAT”) |  |  | (2) |  |  | 1,243,189 |  |  |  | 1,061,675 |
Subtotal |  |  |  |  |  | 7,507,885 |  |  |  | 4,210,701 |
Less: allowance for prepaid expenses and other current assets |  |  |  |  |  | (139,595 | ) |  |  | (136,999 | )
Total |  |  |  |  | $ | 7,368,290 |  |  | $ | 4,073,702 |
(1) | The Company prepaid its vendors for electricity and graphite anode materials, including single granular coke, secondary granular coke, and mixed batches of single particle and secondary coke and etc.
(2) | The amount of VAT payable is determined by applying the applicable tax rate to the invoiced amount of services provided (output VAT) less VAT paid on purchases made with the relevant supporting invoices (input VAT). The Company’s input VAT exceeded output VAT as the Company purchased inventory and plant, property and equipment for manufacturing graphite anode materials as of June 30, 2025 and December 31, 2024.

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