XML 84 R55.htm IDEA: XBRL DOCUMENT v3.25.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue $ 1,900,000    
Accounts payable 9,572,444 $ 10,334,208  
Cash FDIC insured amount 250,000    
Inventory provision 469,900 439,900
Impairment provision of inventories 30,000 439,900  
Impairment loss 772,780  
Impairment charge of long-lived assets 0 0  
Sales return liabilities 261,588 283,276 $ 556,538
Sales returns 1,061,694 3,355,112  
Products warranty 503,553 619,113  
Warranty expenses 1,274,037 1,924,203  
Advance from customers 449,999 1,835,411  
Contract liabilities, revenue recognized $ 1,158,440 $ 696,274  
Voluntary contribution matching percent 100.00%    
Matching contribution vesting percent 100.00%    
Federal income tax percent 21.00% 21.00%  
Weighted average number of common shares, unvested restricted stock 154,029    
Cash uninsured amount   $ 330,357  
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member]      
Concentration risk, percentage 65.00% 41.00%  
Revenue Benchmark [Member] | Supplier Concentration Risk [Member] | One Supplier [Member]      
Concentration risk, percentage 54.00% 48.00%  
Revenue Benchmark [Member] | Supplier Concentration Risk [Member] | Two Supplier [Member]      
Concentration risk, percentage 18.00% 19.00%  
Revenue Benchmark [Member] | Supplier Concentration Risk [Member] | Three Supplier [Member]      
Concentration risk, percentage   14.00%  
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member]      
Concentration risk, percentage 57.00% 86.00%  
Accounts Payable [Member] | Supplier Concentration Risk [Member] | One Supplier [Member]      
Concentration risk, percentage 33.00% 41.00%  
Accounts Payable [Member] | Supplier Concentration Risk [Member] | Two Supplier [Member]      
Concentration risk, percentage 18.00% 19.00%  
Massimo Motor Sports, LLC [Member]      
Cash uninsured amount $ 147,954 $ 9,457,067  
Restricted Stock Units (RSUs) [Member]      
Weighted average number of common shares, unvested restricted stock 101,000  
Cost of Sales [Member]      
Shipping and freight expense $ 11,385,278 $ 8,773,647  
Selling Expense [Member]      
Shipping and freight expense 6,282,588 4,933,810  
Advertising costs 569,757 768,671  
Maximum [Member]      
Cash FDIC insured amount $ 597,877 435,457  
Maximum contributions percent 4.00%    
Previously Reported [Member]      
Accounts payable   $ 2,343,869