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Other receivables, net
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Other receivables, net

Note 7 – Other receivables, net

 

Other receivables, net consist of the following:

 

          
   December 31, 2024  December 31, 2023
       
Receivables from sales of short-term investment  $1,888,662   $6,788,662 
Others   147,952    323,235 
Total other receivables  $2,036,614   $7,111,897 
Allowance for expected credit losses   (1,888,662)   (1,888,662)
Total other receivables, net  $147,952   $5,223,235 

 

The Company does not require collateral for other receivables. The Company maintains an allowance for its doubtful accounts receivable due to estimated credit losses, and all the allowance for credit losses are accrued directly to the receivables from sales of short-term investment in the year ended December 31, 2023. The Company records the allowance for expected credit loss through the consolidated statements of operations and comprehensive income (loss), included in allowance for credit losses, up to the amount of receivables recognized to date. Receivables are written off and charged against the recorded allowance when the Company has exhausted collection efforts without success.