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RELATED PARTY TRANSACTIONS
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 4- RELATED PARTY TRANSACTIONS

 

Wellgistics Health and Tollo Health

 

On November 21, 2023, but effective September 14, 2023, the Company issued a promissory note (the “Wellgistics Note”) to Wellgistics Health, Inc. (f/k/a Danam Health Inc.) (“Wellgistics”) in the amount of $300,000. Wellgistics prepaid $250,000 prior to the execution date. The Wellgistics Note did not accrue interest. As of December 31, 2023, the balance of the Wellgistics Note was $50,000. The Wellgistics Note was fully paid off in February 2024.

 

As of March 31, 2025, other receivables include a $3,828,769 receivable from Wellgistics and $215,000 receivable from Tollo Health. The advances are unsecured, non-interest bearing and due on demand.

 

See Note 6 for detail on the note receivable from Wood Sage.

 

Both Wellgistics Health and Tollo Health have common ownership and management with the Company.

 

Scienture

 

In July 2024, the executives of Scienture issued a short-term loan to Scienture for an aggregate amount of $265,000. The loans are unsecured, non-interest bearing and due on demand. The loans were still outstanding as of March 31, 2025.

 

In November 2024, the executives of Scienture issued a short-term loan to Scienture for $150,000. The loans is unsecured, non-interest bearing and due on demand. The loan was outstanding as of March 31, 2025.

 

In February 2025, the executives of Scienture issued a short-term loan to Scienture for $100,000. The loan is unsecured, non-interest bearing and due on demand. The loan was outstanding as of March 31, 2025.