Loan Payable to Other

6 Months Ended

Jun. 30, 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	June 30, 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 392,775 with interest at 12%. The loan payable is due upon demand.		392,775			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		792,775			609,027
Less: current portion		(792,775	)		(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 is due upon demand.

December 2023 – $392,775 from Prime Capital

The Company, from 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 is due upon demand.