XML 35 R24.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Concentration of Risk
6 Months Ended
Jun. 30, 2024
Concentration of Risk [Abstract]  
Concentration of Risk

Note 15 – 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 June 30, 2024 and December 31, 2023, the Company had $nil and $4,458,402 in excess of the FDIC insured limit, respectively.

 

As of June 30, 2024 and December 31, 2023, $31,933 and $211,222 were deposited with a financial institution located in the PRC, respectively. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.