| Accounts receivable, net |
Note 6 – Accounts receivable, net
Accounts receivable, net consist of the following:
| | |
As of
December 31, | | |
As of
December 31, | |
| | |
2025 | | |
2024 | |
| Accounts receivable | |
$ | 3,538,587 | | |
$ | 3,674,437 | |
| Less: Allowance for credit losses | |
| (2,439,506 | ) | |
| (2,087,671 | ) |
| Accounts receivable, net | |
$ | 1,099,081 | | |
$ | 1,586,766 | |
Movements of allowance for credit losses are as
follows:
| | |
For the year
ended
December 31, | | |
For the year
ended
December 31, | | |
For the year
ended
December 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| Allowance for credit losses, beginning balance | |
$ | 2,087,671 | | |
$ | 2,075,280 | | |
$ | 3,523,458 | |
| Net provision for (reversal of) credit losses | |
| 261,522 | | |
| 76,953 | | |
| (304,112 | ) |
| Uncollectible accounts receivable written-off | |
| - | | |
| - | | |
| (981,152 | ) |
| Effects of foreign exchange rate | |
| 90,313 | | |
| (64,562 | ) | |
| (162,914 | ) |
| Allowance for credit losses, ending balance | |
$ | 2,439,506 | | |
$ | 2,087,671 | | |
$ | 2,075,280 | |
|