v3.26.1
Property and Equipment, Net
12 Months Ended
Dec. 31, 2025
Property and Equipment, Net [Abstract]  
Property and equipment, net

Note 7 – Property and equipment, net

 

Property and equipment, net consist of the following:

 

   December 31,
2025
   December 31,
2024
 
Property and equipment        
Computer and office equipment  $12,276   $106,518 
Software   1,000,000    
-
 
Revenue equipment   7,496,830    5,417,435 
Subtotal   8,509,106    5,523,953 
Less: accumulated depreciation   (4,157,756)   (4,988,918)
Property and equipment, net  $4,351,350   $535,035 

 

The net balance of computer and office equipment was $1,612 and $40,117 as of December 31, 2025 and 2024, respectively. The net balance of revenue equipment was $3,468,487 and $494,918 as of December 31, 2025 and 2024, respectively. The net balance of software was $881,250 and $nil as of December 31, 2025 and 2024, respectively.

 

Depreciation expenses for the years ended December 31, 2025, 2024 and 2023 was $307,523, $390,341 and $551,062, respectively.

 

For the years ended December 31, 2025, 2024 and 2023, the Company disposed property and equipment with original costs of $450,471, $788,848 and $793,687 with accumulated depreciation amounted to $409,696, $714,102 and $701,556, respectively. The dispositions generated proceeds of $28,579, $31,113 and $39,405 and resulted in disposal losses of $12,196, $43,633 and $52,726, respectively.

Disaggregated information of vehicles generating of revenue (categorized in revenue equipment) by types and arrangements as of December 31, 2025 and 2024 are as follows:

 

   December 31, 2025 
   Number of
revenue
equipment
owned
with no
obligations
   Number of
revenue
equipment
owned and
pledged for
borrowings
   Total   Book value
of revenue
equipment
owned
with no
obligations
   Book value
of revenue
equipment
owned and
pledged for
borrowings
   Total 
Tractors   55    15    70   $152,334   $38,645   $190,979 
Trailers   97    
-
    97    147,334    
-
    147,334 
Vans   22    9    31    1,439,152    778,819    2,217,971 
Total   174    24    198   $1,738,820   $817,464   $2,556,284 

 

   December 31, 2024 
   Number of
revenue
equipment
owned
with no
obligations
   Number of
revenue
equipment
owned and
pledged for
borrowings
   Total   Book value
of revenue
equipment
owned
with no
obligations
   Book value
of revenue
equipment
owned and
pledged for
borrowings
   Total 
Tractors   40    44    84   $250,114   $103,636   $353,750 
Trailers   87    1    88    63,669    16,303    79,972 
Vans   50    
-
    50    61,196    
-
    61,196 
Total   177    45    222   $374,979   $119,939   $494,918