Quarterly report [Sections 13 or 15(d)]

OTHER PAYABLES AND ACCRUED LIABILITIES

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OTHER PAYABLES AND ACCRUED LIABILITIES
 3 Months Ended
Mar. 31, 2026
Other Liabilities Disclosure [Abstract]  
OTHER PAYABLES AND ACCRUED LIABILITIES

NOTE 7 – OTHER PAYABLES AND ACCRUED LIABILITIES

 

Other payables and accrued liabilities consist of the following:

 

SCHDULE OF OTHER PAYABLES AND ACCRUED LIABILITIES

    March 31, 2026     December 31, 2025  
Accrued compensation   $ 189,584     $ 7,371  
Accrued royalties     1,650,000       1,650,000  
Deferred revenue     543,752       683,782  
Trade payable     847,120       914,085  
Goods received pending invoice     922,735       612,854  
Other accrued expenses     486,201       512,353  
Total   $ 4,639,392     $ 4,380,445  

 

These liabilities represent obligations incurred as of the reporting date but not yet paid; accrued compensation includes wages and bonuses earned by employees, and accrued royalties include royalty payments that are potentially owed but not yet paid. Deferred revenue is for amounts received but not yet earned, primarily related to gift card liabilities and loyalty rewards obligations, and trade payables consist of amounts owed to suppliers for goods or services purchased. Other accrued expenses primarily consist of operational costs incurred but not yet invoiced.