RELATED PARTY TRANSACTIONS - USD ($)

3 Months Ended

Mar. 31, 2025

Dec. 31, 2024

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

RELATED PARTY TRANSACTIONS

(8) RELATED PARTY TRANSACTIONS

Rent expense charged by related party and amount due to related party:

The Company leased office space located at 848 Elm Street, Manchester, NH. The landlord was an affiliate entity owned by Mr. Jeremy Hitchcock, who was the Company’s former Chairman of the Board. On July 18, 2022, the lease agreement, which originated in August 2019, was amended to a month-to-month lease arrangement. The lease was not renewed in September 2024. The facility lease agreement provided for 2,656 square feet. For the three-months period ended March 31, 2025 and 2024, the rent expense was $0 and $14 thousand, respectively.

Amount due to Shareholder and related party:

	Three Months Ended March 31,
	2025		2024
Due to the shareholder – Cao Yu	$	53,000	$	-
Due to the shareholder – David Lazar		302,170		-
Total	$	355,170	$	-

$50,000 of the $53,000 due to Cao Yu for the period ended March 31, 2025 was made by Cao Yu on behalf of the Company to Beckles & Co for auditor services.

The Company and David Lazar (“Noteholder”) entered into an unsecured promissory note (the “Convertible Note”), under which, effective as of February 18, 2025 (the “Effective Date”),  the Company agreed to pay to the Noteholder a principal amount of $300,000, together with interest on the balance of the principal from time to time outstanding, at the rates and at the times described therein. The outstanding principal balance of the Convertible Note shall be paid in full on or prior to December 31, 2025.

Total

$ 355,170

Cao Yu [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Total

53,000

David Lazar [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Total

$ 302,170