Equipment, net

3 Months Ended

Mar. 31, 2025

Equipment, net

Equipment, net

Note 4 – Equipment, net

As of March 31, 2025 and December 31, 2024, equipment consisted of the following:

	March 31,			December 31,
	2025			2024
Cost:
Equipment	$	9,366		$	9,366
Vehicles		361,216			120,155
		370,582			129,521
Less: accumulated depreciation		(30,703	)		(18,147	)
Equipment, net	$	339,879		$	111,374

During the three months ended March 31, 2025 and 2024, the Company recorded depreciation of $12,556 and $660, respectively.

During the three months ended March 31, 2025, the Company purchased a vehicle for $145,764, of which $118,776 was purchased with a financing loan and transferred vehicles from inventory of $95,297 due to a change of use.

Financing loan

The Company had a financing loan for the purchase of vehicle for the year ended December 31, 2024. The loan repayment is $1,898 per month for the first 36 months and then $2,590 per month for 30 months with an interest rate of $11.54%. For the three months ended March 31, 2025, the Company repaid $101,478, of which $4,629 is for interest. In March 2025, the Company fully paid this financing loan.

The Company had a financing loan for the purchase of vehicle in January 2025. A repayment of loan schedule was $1,977 per month for the 72 months with an interest rate of $10.84%. For the three months ended March 31, 2025, the Company repaid $104,732, of which $955 is for interest. In March 2025, the Company fully paid this financing loan.