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LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Leases  
SCHEDULE OF OPERATING LEASE ASSETS AND LIABILITIES

The following table presents the operating lease related assets and liabilities recorded on the Group’s consolidated balance sheet.

 

   December 31, 2024   December 31, 2023 
   US$   US$ 
Right-of-use assets   238,330    556,104 
Impairment of right-of-use assets   —    — 
Right-of-use assets, net   238,330    556,104 
           
Operating lease liabilities - current   282,279    352,178 
Operating lease liabilities – non-current   —    282,279 
Total operating lease liabilities   282,279    634,457 
SCHEDULE OF OFFICE LEASE EXPENSE

The following table presents the components of the Company’s office lease expense in the year ended December 31, 2022, 2023 and 2024, which are included in general administrative on the consolidated statements of operations:

 

   2024   2023   2022 
   For the year ended December 31, 
   2024   2023   2022 
   US$   US$   US$ 
Operating lease cost   341,535    358,044    60,578 
Variable lease cost   —    —    — 
Operating lease expense   341,535    358,044    60,578 
Short-term lease rent expense   38,236    57,621    31,301 
Total lease expense   379,771    415,665    91,879 
SCHEDULE OF MATURITY OPERATING LEASE LIABILITIES

The following table summarizes the maturity of operating lease liabilities as of December 31, 2024:

 

   US$ 
2025   288,594 
Total   288,594 
Less: imputed interest   (6,315)
Present value of lease liabilities   282,279