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CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

SCHEDULE - CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

 

The Company performed a test of its restricted net assets of the consolidated subsidiaries in accordance with the Securities and Exchange Commission’s Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial information of the parent company.

 

The subsidiaries did not pay any dividends to the Company for the periods presented. For the purpose of presenting parent-only financial information, the Company records its investment in its subsidiaries under the equity method of accounting. Such investment is presented on the separate condensed statement of financial position of the Company as “Investment in subsidiaries”.

 

ILA became the parent company of the Company as a result of the execution of the Share Exchange Agreement in April 2020. ILA is a holding company with no bank account, did not have any significant capital and other commitments, and did not have any long-term obligations, or guarantees as of December 31, 2025. ILA did not have any business activities during the year ended December 31, 2025.

 

The following is the parent company balance sheets:

 

   2025   2024 
   As of December 31, 
   2025   2024 
   USD   USD 
   (Unaudited)   (Unaudited) 
ASSETS          
NON-CURRENT ASSETS          
Investment in subsidiaries  $4,856,622   $12,638,066 
TOTAL ASSETS  $4,856,622   $12,638,066 
           
LIABILITIES AND SHAREHOLDERS’ EQUITY          
LIABILITIES  $—   $— 
           
SHAREHOLDERS’ EQUITY          
Ordinary shares, $0.001 par value; 450,000,000 shares authorized; 2,076,974 and 1,806,000 shares issued and outstanding as of December 31, 2025 and 2024 *   2,077    1,806 

Preferred shares, 50,000,000  shares authorized:

        
Preferred shares, Series A, $0.001 par value, 200,000 shares authorized, 200,000 and nil issued and outstanding as of December 31, 2025 and 2024     200       —  
Preferred shares, Series B, $0.001 par value, 1,000,000 shares authorized, 1,000,000 and nil issued and outstanding as of December 31, 2025 and 2024     1,000       —  
Additional paid-in capital   30,157,602    19,586,674 
Warrants   16,769    — 
Accumulated deficit   (25,073,495)   (6,615,820)
Accumulated other comprehensive loss   (229,562)   (334,594)
TOTAL SHAREHOLDERS’ EQUITY   4,856,622    12,638,066 
           
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY  $4,856,622   $12,638,066 

 

The following is the parent company statements of operations and comprehensive loss:

 

   2025   2024   2023 
   For the Years Ended 
   December 31, 
   2025   2024   2023 
   USD   USD   USD 
   (Unaudited)   (Unaudited)   (Unaudited) 
EQUITY LOSS  $(13,969,798)  $(2,076,775)  $(1,658,203)
                
NET LOSS  $(13,969,798)  $(2,076,775)  $(1,658,203)
                
COMPREHENSIVE LOSS               
Net loss  $(13,969,798)  $(2,076,775)  $(1,658,203)
Foreign currency translation adjustments   105,032    (74,040)   (214,916)
                
COMPREHENSIVE LOSS  $(13,864,766)  $(2,150,815)  $(1,873,119)