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ORGANIZATION AND BUSINESS DESCRIPTION (Tables)
 9 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
SCHEDULE OF SUBSIDIARIES

Details of the Company and its subsidiaries are set out below upon the Reorganization:

  

Subsidiaries  

Date of

Incorporation

  

Jurisdiction of

Formation

  

Percentage of

direct/indirect

Economic

Ownership

    

Principal

Activities

Massimo Group   October 10, 2022   Nevada           Holding company
Massimo Motor Sports, LLC   June 30, 2009   Texas     100 %   Manufacture of UTVs and ATVs
Massimo Marine, LLC   January 6, 2020   Texas     100 %   Manufacture of Pontoon Boats

 

On June 1, 2023, the Company entered into two agreements with Asian International Securities Exchange Co., Ltd. (“AISE”) and AISE agreed to invest $1 million to Massimo Motor Sports and $1 million to Massimo Marine to exchange their 15% of equity interest respectively. After Reorganization, the 15% of equity interest in Massimo Motor Marine and Massimo Marine owned by AISE have been exchanged to 15% of equity interest in Massimo Group.

 

 

MASSIMO GROUP AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)