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INCOME AND OTHER TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
INCOME AND OTHER TAXES |
Schedule of income tax expense |
|  | 2023 |  |  | 2022 |
Current income tax expense: |  |  |  |  |  |
Domestic |  | $ | - |  |  | $ | 16,073 |
Foreign |  |  | - |  |  |  | - |
Total current |  |  | - |  |  |  | 16,073 |
Deferred income tax expense: |  |  |  |  |  |  |  |
Domestic |  |  | - |  |  |  | - |
Foreign |  |  | - |  |  |  | - |
Total deferred |  |  | - |  |  |  | - |
Total income tax expense |  | $ | - |  |  | $ | 16,073 |
Schedule of Income before Income Tax, Domestic and Foreign |
|  | 2023 |  |  | 2022 |
Domestic |  | $ | (397,156 | ) |  | $ | 2,729,793 |
Foreign |  |  | (5,951,131 | ) |  |  | (2,285,059 | )
Income (loss) before income taxes |  | $ | (6,348,287 | ) |  | $ | 444,734 |
Schedule of U.S. federal income tax rate to pre-tax income (loss) |
|  | 2023 |  |  | 2022 |
U.S. federal statutory tax provision (benefit) |  | $ | (1,333,000 | ) |  | $ | 93,073 |
State income tax provision (benefit) net |  |  | (88,000 | ) |  |  | 67,000 |
Foreign taxes |  |  | (536,000 | ) |  |  | (136,000 | )
VAT refund reserve and other non-deductible items |  |  | 1,008,000 |  |  |  | 4,000 |
Adjustment for prior year tax estimate to actual-domestic |  |  | (7,000 | ) |  |  | 69,000 |
Adjustment for prior year tax estimate to actual-foreign |  |  | 136,000 |  |  |  | (32,000 | )
Impact on change in state tax rate |  |  | - |  |  |  | 7,000 |
Impact on change in foreign exchange rate |  |  | (275,000 | ) |  |  | (83,000 | )
Change in valuation allowance - Domestic |  |  | 170,000 |  |  |  | (358,000 | )
Change in valuation allowance - Foreign |  |  | 925,000 |  |  |  | 385,000 |
Total income tax expense |  | $ | - |  |  | $ | 16,073 |
Schedule of Deferred Tax Assets and Liabilities |
|  | 2023 |  |  | 2022 |
Deferred tax asset: |  |  |  |  |  |
Domestic net operating loss carry forward |  | $ | 646,000 |  |  | $ | 307,000 |
Foreign net operating loss carry forward |  |  | 2,883,000 |  |  |  | 1,958,000 |
Allowance for doubtful accounts |  |  | 64,000 |  |  |  | 7,000 |
Other |  |  | 5,000 |  |  |  | - |
Deferred tax asset |  | $ | 3,598,000 |  |  | $ | 2,272,000 |
Valuation allowance (domestic) |  |  | (228,000 | ) |  |  | (58,000 | )
Valuation allowance (foreign) |  |  | (2,883,000 | ) |  |  | (1,958,000 | )
Total deferred tax asset |  | $ | 487,000 |  |  | $ | 256,000 |
Deferred tax liability: |  |  |  |  |  |  |  |
Property, plant, and equipment |  |  | (487,000 | ) |  |  | (245,000 | )
Other |  |  | - |  |  |  | (11,000 | )
Total deferred tax liability |  | $ | (487,000 | ) |  | $ | (256,000 | )
Net deferred tax asset after valuation allowance |  | $ | - |  |  | $ | - |

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- Definition Tabular disclosure of the federal tax basis of investment holdings. This item captures the aggregate cost of securities, aggregate gross unrealized appreciation for all securities in which there is an excess of value over tax cost, aggregate gross unrealized depreciation for all securities in which there is an excess of tax cost over value, net unrealized appreciation (depreciation), and an explanation of the differences between tax and book. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-03(h)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3 + Details
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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
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