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SEGMENT REPORTING (RESTATED) (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SCHEDULE OF KEY INFORMATION BY SEGMENTS

The summary of key information by segments for the years ended December 31, 2024 and 2023 was as follows:

SCHEDULE OF KEY INFORMATION BY SEGMENTS 

For year ended December 31, 2024

		Sales of UTVs, ATVs and e-bikes				Sales of Pontoon Boats				Total
Revenue from external customers		$	105,575,151			$	3,750,591			$	109,325,742
Cost of revenue		$	73,463,577			$	3,402,226			$	76,865,803
Gross profit		$	32,111,574			$	348,365			$	32,459,939
Depreciation & amortization		$	145,693			$	25,653			$	171,346
Income tax expense		$	654,758			$	-			$	654,758
Long-lived assets		$	9,950,148			$	1,315,925			$	11,266,073
Segment assets		$	47,769,759			$	7,119,759			$	54,889,518
Segment profit (loss)		$	3,892,813			$	(2,130,904	)		$	1,761,909

For year ended December 31, 2023

		Sales of UTVs, ATVs and e-bikes				Sales of Pontoon Boats				Total
Revenue from external customers		$	103,312,838			$	11,724,706			$	115,037,544
Cost of revenue		$	69,881,055			$	9,245,399			$	79,126,454
Gross profit		$	33,431,783			$	2,479,307			$	35,911,090
Depreciation & amortization		$	170,958			$	22,667			$	193,625
Income tax expense		$	2,129,804			$	-			$	2,129,804
Long-lived assets		$	2,615,404			$	968,067			$	3,583,471
Segment assets		$	34,762,856			$	7,180,623			$	41,943,479
Segment profit (loss)		$	10,230,476			$	184,749			$	10,415,225

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- Definition

Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.

+ References

No definition available.

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- References

No definition available.

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