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Property and Equipment, Net | 12 Months Ended
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Dec. 31, 2023
Property and Equipment, Net [Abstract] |
Property and equipment, net | Note 8 — Property and equipment, net Property and equipment, net, consist of the following:
|  | As of December 31, |
|  | 2023 |  |  | 2022 |
Computer equipment |  | $ | 414,230 |  |  | $ | 380,055 |
Office equipment, fixtures and furniture |  |  | 1,997,452 |  |  |  | 2,033,617 |
Automobiles |  |  | 184,308 |  |  |  | 189,325 |
Buildings |  |  | 4,580,571 |  |  |  | 4,715,189 |
Construction in Progress |  |  | 618,661 |  |  |  | - |
Subtotal |  |  | 7,795,222 |  |  |  | 7,318,186 |
Less: accumulated depreciation |  |  | (1,892,273 | ) |  |  | (1,484,268 | )
Property and equipment, net |  | $ | 5,902,949 |  |  | $ | 5,833,918 |
Depreciation expense for the years ended December 31, 2023, 2022 and 2021 amounted to $453,628, $359,344 and $324,367, respectively. As of December 31, 2023, buildings with net book value amounted to $3,932,666 were pledged for obtaining various of loans (See Note 11). The Company capitalized development costs related to its core supporting modules of the global trade applications and solutions incurred during the application development stage.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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