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v3.25.3

Related parties | 6 Months Ended
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Jun. 30, 2025
Related parties |
Related parties | Note 9. Related parties As of June 30, 2025 and December 31, 2024, The Company has related party transactions with the following affiliates and affiliated entities:
Related Party Name |  | Relationship
Hui Luo |  | Majority owner of the Company
Liu Yi |  | Spouse of Hui Luo
Genius Kid Class LLC |  | An entity controlled by Yi Liu
Dream Legal Group, Inc |  | An entity controlled by Hui Luo
Ideal Force LLC |  | An entity controlled by Yi Liu
Dreamgo Inc. |  | An entity controlled by Hui Luo
Due from related parties
|  | June 30, 2025 |  |  | December 31, 2024 |
Dream Legal Group, Inc. |  |  | 3,805 |  |  |  | 8,251 |
Total due from related parties |  | $ | 1,830 |  |  | $ | 8,251 |
Due to related parties
|  | June 30, 2025 |  |  | December 31, 2024 |
Luo Hui-accrued interest on promissory note |  |  | 4,427 |  |  |  | 2,166 |
Luo Hui – promissory note, due on August 15, 2025; at a rate of 4% per annum |  |  | 130,000 |  |  |  | 130,000 |
Luo Hui – promissory note, due on June 30, 2026; at a rate of 4% per annum |  |  | 40,000 |  |  |  | — |
Yi Liu – promissory note, due on March 17, 2026; at a rate of 4% per annum |  |  | 100,000 |  |  |  | — |
Dream Legal Group, Inc-rent income received in advance |  |  | 7,450 |  |  |  | — |
Due to Dream Go Inc. |  |  | — |  |  |  | 117,379 |
Total due to related parties - current |  | $ | 181,877 |  |  | $ | 249,545 |
The following table represents related party transactions for the six months ended June 30, 2025 and 2024:
|  |  |  | Three Months Ended |  |  | Six Months Ended |
Name |  | Business Purpose of Transaction |  | June 30, 2025 |  |  | June 30, 2024 |  |  | June 30, 2025 |  |  | June 30, 2024 |
Dream Legal Group, Inc |  | Sublease income |  | $ | 24,325 |  |  | $ | 10,000 |  |  | $ | 49,920 |  |  | $ | 25,000 |
Dreamgo Inc. |  | Rent expense |  |  | 90,253 |  |  |  | 90,253 |  |  |  | 180,506 |  |  |  | 180,506 |
Genius Kid Class LLC |  | Consulting revenue |  |  | — |  |  |  | 100,000 |  |  |  | — |  |  |  | 200,000 |
Yi Liu |  | Interest expense |  |  | 661 |  |  |  | — |  |  |  | 822 |  |  |  | — |
Luo Hui |  | Interest expense |  |  | 960 |  |  |  | — |  |  |  | 1,300 |  |  |  | — |
Totals |  |  |  | $ | 116,199 |  |  | $ | 200,253 |  |  | $ | 232,548 |  |  | $ | 405,506 |
Sublease income has been reflected as a reduction of general and administrative expenses in the accompanying consolidated statements of operations. As of June 30, 2025 and December 31, 2024, the Company has the following ROU assets and operating lease liabilities recognized from related party under ASC 842 (Note 4):
|  |  |  | June 30, 2025 |  |  | December 31, 2024 |
Dreamgo Inc. | ROU assets |  |  | $ | 1,401,041 |  |  | $ | 1,552,242 |
Dreamgo Inc. | Short term obligation under operating leases |  |  | $ | (187,882 | ) |  | $ | (314,685 | )
Dreamgo Inc. | Long term obligation under operating leases |  |  | $ | (1,213,413 | ) |  | $ | (1,241,495 | )

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