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RELATED PARTY TRANSACTIONS
 9 Months Ended
Sep. 30, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 10– RELATED PARTY TRANSACTIONS

 

On September 25, 2012, the Company purchased five floors of a commercial building in the PRC, through SYCI, from Shandong Shouguang Vegetable Seed Industry Group Co., Ltd. (the “Seller”) at a cost of approximately $5.7 million in cash, of which Mr. Ming Yang, the former chairman of the board of directors of the Company, had a 99% equity interest in the Seller. During the first quarter of 2018, the Company entered into an agreement with the Seller, a related party, to provide property management services for an annual amount of approximately $86,911 for five years from January 1, 2023 to December 31, 2027. The expense associated with this agreement for the three and nine months ended September 30, 2025 was approximately $21,877 and $65,300. The expense associated with this agreement for the three and nine months ended September 30, 2024 was approximately $22,258 and $66,125.

 

NOTE 10 – RELATED PARTY TRANSACTIONS – Continued

 

  a) Related parties

 

Name of related parties Position
Yang Ming Former Chairman Of the Board
Liu Xiaobin Chief Executive Officer and Chairman of the Board
Li Min Chief Financial Officer
Miao Naihui Chief Operating Officer,Director
Chengdu Dianjinshi Culture media Co., LTD Affiliated with company officers

 

b)

 

   September 30,  December 31,
   2025  2024
Amount due to related parties:          
Yang Ming  $415,158   $410,350 
Liu Xiaobin   887,214    887,214 
Li Min   655,240    636,264 
Miao Naihui   640,351    650,980 
Total  $2,597,963   $2,584,808 

 

c)

 

   September 30,
2025		  December 31,
2024
Due from related party:          
Chengdu Dianjinshi Culture media Co., LTD  $25,333   $25,040 
Total  $25,333   $25,040