Loan Payable to Other

3 Months Ended

Mar. 31, 2024

Loan Payable to Other [Abstract]

LOAN PAYABLE TO OTHER

5. LOAN PAYABLE TO OTHER

Loans payable to others consisted of the following:

As of	March 31, 2024			December 31, 2023
Loan agreement with principal amount of $300,000 with a monthly interest of $9,000. The loan payable matures in May 2024	$	300,000		$	300,000
Loan agreement with principal amount 309,027 with interest at 12%. The loan payable is due upon demand.		309,027			309,027
Loan agreement with principal amount of $100,000 with no interest. The loan payable matures in May 2024		100,000			-
Total loan payable		709,027			609,027
Less: current portion		(709,027	)		(609,027	)
Total loan payable, net of current	$	-		$	-

December 2023 – $300,000 from a private party

On December 27, 2023, the Company entered into a short-term borrowing agreement with a private party for a principal amount of $300,000 with a monthly interest of $9,000. The loan payable matures on May 30, 2024. 

December 2023 – $309,027 from Prime Capital

The Company time to time borrows from a lender, Prime Capital, as a short-term loan with interest at 12%. The loan is due upon demand.

December 2023 – $100,000 from a private party

On December 27, 2023, the Company entered into a short-term borrowing agreement with a private party for a principal amount of $100,000 with no interest. The loan payable matures on May 30, 2024.