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Equity
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Equity

14. Equity

 

On May 31, 2024, every ten shares of the Common Stock issued and outstanding or held as treasury stock will be automatically converted into one new share of Common Stock. The total number of shares of Common Stock authorized for issuance will then be reduced by a corresponding proportion The par value per share of the Common Stock will remain unchanged at $0.001 per share.

 

On August 29, 2025, the stockholders of the Company approved the 2025 Equity Incentive Plan (the “2025 Plan”), up to 7,000,000 shares of common stock, par value $0.001 per share may be issued pursuant to future grants of equity-based awards under the 2025 Plan. On September 16, 2025, the Board resolved to issue an aggregate of 1,450,000 shares of common stock to two employees under the 2025 Plan for a fair value of $2,798,500.

 

As of September 30, 2025, the number of common shares remained unchanged at 7,282,714 with no new issuances recorded during the year, consistent with the figure reported as of December 31, 2024.