Note 8 – Other payables and accrued
liabilities
Other payables and accrued liabilities consist
of the following:
| | |
December 31,
2025 | | |
December 31,
2024 | |
| Other payables and accrued liabilities | |
| | |
| |
| Loan
form Guarantor1 | |
$ | - | | |
$ | 253,080 | |
| Borrowings – non-interest-bearing2 | |
| 128,860 | | |
| 240,133 | |
| Receipt in advance | |
| 300,485 | | |
| 200,084 | |
| Salary payables | |
| 43,950 | | |
| 62,574 | |
| Others3 | |
| 124,387 | | |
| 120,817 | |
| Total other payables and accrued liabilities | |
$ | 597,682 | | |
$ | 876,688 | |
| 1. | In May 2023, the Company received a short-term borrowing from
Industrial and Commercial Bank of China of $325,357 with an annual interest rate of 3.55% to be due in May 2024. The company defaulted
on the principal borrowed in May 2024. In August 2024, Shenzhen Hi-Tech Investment Small Micro Financing Guarantee Co., Ltd. has repaid
$247,914 on behalf of the Company, with interest payments of $5,165 as of December 31, 2024. |
| 2. | Borrowing mainly involves interest-free borrowing from third
parties. |
| 3. | Others mainly involve the Company’s security reserves
and the withholding of employees’ social insurance premiums. Additionally, it includes litigation compensation to be executed. |
|