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Concentration of Credit Risk | 12 Months Ended
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Dec. 31, 2024
Concentration of Credit Risk [Abstract] |
Concentration of Credit Risk | Note 14 – Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits and loan receivable. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At December 31, 2024 and 2023, the Company had $nil and $4,458,402 in excess of the FDIC insured limit, respectively. As of December 31, 2024 and 2023, $3,267 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. As of December 31, 2024, the loan receivable was written off due to it was more likely than not uncollectible, and the company recognized credit loss on the consolidated statements of operations.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
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