Equipment, net

6 Months Ended

Jun. 30, 2025

Equipment, net

Equipment, net

Note 4 – Equipment, net

As of June 30, 2025 and December 31, 2024, equipment consisted of the following:

	June 30,			December 31,
	2025			2024
Cost:
Equipment	$	17,186		$	9,366
Vehicles		494,152			120,155
		511,338			129,521
Less: accumulated depreciation		(45,827	)		(18,147	)
Equipment, net	$	465,511		$	111,374

During the six months ended June 30, 2025, the Company purchased vehicles for $381,817, of which $118,776 was purchased with a financing loan and transferred vehicles from inventory of $95,297 due to a change of use.

For the three and six months ended June 30, 2025 and 2024, depreciation consists of:

	Three Months Ended				Six months ended
	June 30,				June 30,
	2025		2024		2025		2024
Depreciation	$	15,124	$	274	$	27,680	$	934

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 six months ended June 30, 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 six months ended June 30, 2025, the Company repaid $104,732, of which $955 is for interest. In March 2025, the Company fully paid this financing loan.