XML 44 R25.htm IDEA: XBRL DOCUMENT v3.24.1
Concentration of Risk
12 Months Ended
Dec. 31, 2023
Concentration of Risk [Abstract]  
Concentration of Risk

Note 16 – Concentration of Risk

 

Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At December 31, 2023 and 2022, the Company had $4,458,402 and nil in excess of the FDIC insured limit, respectively.

 

As of December 31, 2023 and 2022, $211,222 and $215,880 were deposited with various financial institutions located in the PRC, respectively. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.