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Operating Expenses
12 Months Ended
Dec. 31, 2024
Operating Expenses [Abstract]  
OPERATING EXPENSES

NOTE 20 — OPERATING EXPENSES

 

Personnel and Benefit Expense

 

Personnel and benefit expense mainly consisted of salaries and bonus paid and payable to the employees, a portion of which was settled by the issuance of common stock of the Company.

 

During the years ended December 31, 2024 and 2023, the Company recorded approximately $84.9 million and $27.2 million personnel and benefit expense, of which approximately $67.7 million and $3.3 million was stock-based related, respectively.

 

Other General and Administrative Expenses

 

The Company incurred different types of expenditures under other general and administrative expenses. They primarily consist of depreciation and amortization, allowance for expected credit losses, legal and professional fees, and management fee expenses which are allocated for certain corporate office expenses.

 

During the years ended December 31, 2024 and 2023, the Company recorded approximately $36.5 million and $24.5 million other general and administrative expenses, respectively.