Note 4 – Accounts receivable, net
Accounts receivable consisted of the following:
| | |
December 31,
2025 | | |
December 31,
2024 | |
| | |
| | |
| |
| Trade accounts receivable from third-parties | |
$ | 826,830 | | |
$ | 2,482,858 | |
| Subtotal | |
| 826,830 | | |
| 2,482,858 | |
| Less: allowance for credit losses | |
| (748,576 | ) | |
| (438,864 | ) |
| Accounts receivable, net | |
$ | 78,254 | | |
$ | 2,043,994 | |
The movement of the allowance for credit losses
was as follows:
| | |
December 31,
2025 | | |
December 31,
2024 | |
| | |
| | |
| |
| Balance as of the beginning of year | |
$ | 438,864 | | |
$ | 559,382 | |
| Additions charged to bad debt expense | |
| 294,959 | | |
| 442,974 | |
| Reversals when collected | |
| - | | |
| (556,319 | ) |
| Translation adjustments | |
| 14,753 | | |
| (7,173 | ) |
| Balance as of the end of year | |
$ | 748,576 | | |
$ | 438,864 | |
|