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SEGMENT REPORTING | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
SEGMENT REPORTING | NOTE 16 – SEGMENT REPORTING By assessing the qualitative and quantitative criteria established by ASC Topic 280, “Segment Reporting”, the Company considers itself to be operating in two reportable segments which comprise of marketing services and social commerce. The Company defines its segments as those operations whose results the CODM regularly reviews to analyze performance and allocate resources. The marketing services operating segment reflects the Company’s business of marketing services from clients and social media platforms. The social commerce operating segment reflects the Company’s business of social commerce from customers. The following tables present the results of operations and the financial position of the Company’s operating segments as of and during the years ended December 31, 2024 and 2023: Results of Operations For the year ended December 31, 2024 SCHEDULE OF SEGMENT REPORTING
|  | Marketing services |  |  | Social commerce |  |  | Corporate and others |  |  | Total |
Revenue |  |  | 8,114,980 |  |  |  | 133,128 |  |  |  | — |  |  |  | 8,248,108 |
Cost of revenues |  |  | (5,997,406 | ) |  |  | (557,519 | ) |  |  | — |  |  |  | (6,554,925 | )
Marketing expenses |  |  | (118,779 | ) |  |  | — |  |  |  | (369,737 | ) |  |  | (488,516 | )
Share-based compensation |  |  | — |  |  |  | — |  |  |  | (946,444 | ) |  |  | (946,444 | )
General and administrative expenses |  |  | (2,724,736 | ) |  |  | — |  |  |  | (4,438,218 | ) |  |  | (7,162,954 | )
Other expenses, net |  |  | (289,490 | ) |  |  | — |  |  |  | (98,701 | ) |  |  | (388,191 | )
Loss before income taxes |  |  | (1,015,431 | ) |  |  | (424,391 | ) |  |  | (5,853,100 | ) |  |  | (7,292,922 | )
Provision for income taxes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net loss |  |  | (1,015,431 | ) |  |  | (424,391 | ) |  |  | (5,853,100 | ) |  |  | (7,292,922 | )
Financial Position As of December 31, 2024
|  | Marketing services |  |  | Social commerce |  |  | Corporate and others |  |  | Total |
Current assets |  |  | 2,531,282 |  |  |  | — |  |  |  | 2,233,261 |  |  |  | 4,764,543 |
Non-current assets |  |  | 2,300,609 |  |  |  | — |  |  |  | 117,506 |  |  |  | 2,418,115 |
Total assets |  |  | 4,831,891 |  |  |  | — |  |  |  | 2,350,767 |  |  |  | 7,182,658 |
Current liabilities |  |  | (3,367,033 | ) |  |  | — |  |  |  | (2,330,757 | ) |  |  | (5,697,790 | )
Non-current liabilities |  |  | (204,950 | ) |  |  | — |  |  |  | — |  |  |  | (204,950 | )
Total liabilities |  |  | (3,571,983 | ) |  |  | — |  |  |  | (2,330,757 | ) |  |  | (5,902,740 | )
Net assets |  |  | 1,259,908 |  |  |  | — |  |  |  | 20,010 |  |  |  | 1,279,918 |
VS MEDIA HOLDINGS LIMITED AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023 (Stated in US Dollars, except for number of shares) Results of Operations For the year ended December 31, 2023
|  | Marketing services |  |  | Social commerce |  |  | Corporate and others |  |  | Total |
Revenue |  |  | 7,991,103 |  |  |  | — |  |  |  | — |  |  |  | 7,991,103 |
Cost of revenues |  |  | (6,338,434 | ) |  |  | (12,960 | ) |  |  | — |  |  |  | (6,351,394 | )
Marketing expenses |  |  | (206,117 | ) |  |  | — |  |  |  | (12,778 | ) |  |  | (218,895 | )
Share-based compensation |  |  | — |  |  |  | — |  |  |  | (861,551 | ) |  |  | (861,551 | )
General and administrative expenses |  |  | (3,048,041 | ) |  |  | (383,602 | ) |  |  | (3,541,883 | ) |  |  | (6,973,526 | )
Other (expense) income, net |  |  | (185,962 | ) |  |  | 72,561 |  |  |  | (66,778 | ) |  |  | (180,179 | )
Loss before income taxes |  |  | (1,787,451 | ) |  |  | (324,001 | ) |  |  | (4,482,990 | ) |  |  | (6,594,442 | )
Provision for income taxes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net loss |  |  | (1,787,451 | ) |  |  | (324,001 | ) |  |  | (4,482,990 | ) |  |  | (6,594,442 | )
Financial Position As of December 31, 2023
|  | Marketing services |  |  | Social commerce |  |  | Corporate and others |  |  | Total |
Current assets |  |  | 3,557,743 |  |  |  | — |  |  |  | 6,433,919 |  |  |  | 9,991,662 |
Non-current assets |  |  | 53,752 |  |  |  | — |  |  |  | 37,333 |  |  |  | 91,085 |
Total assets |  |  | 3,611,495 |  |  |  | — |  |  |  | 6,471,252 |  |  |  | 10,082,747 |
Current liabilities |  |  | (3,451,510 | ) |  |  | — |  |  |  | (2,230,098 | ) |  |  | (5,681,608 | )
Non-current liabilities |  |  | (208,116 | ) |  |  | — |  |  |  | — |  |  |  | (208,116 | )
Total liabilities |  |  | (3,659,626 | ) |  |  | — |  |  |  | (2,230,098 | ) |  |  | (5,889,724 | )
Net (liabilities) assets |  |  | (48,131 | ) |  |  | — |  |  |  | 4,241,154 |  |  |  | 4,193,023 |
VS MEDIA HOLDINGS LIMITED AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023 (Stated in US Dollars, except for number of shares) Geographical information SCHEDULE OF REVENUE FROM EXTERNAL CUSTOMERS
|  | For the years ended December 31, |
Revenue from external customers: |  | 2024 |  |  | 2023 |
HK SAR |  | $ | 5,134,573 |  |  | $ | 5,441,765 |
Taiwan |  |  | 3,113,535 |  |  |  | 2,549,338 |
Revenue from external customers |  | $ | 8,248,108 |  |  | $ | 7,991,103 |
The revenue information above is based on the locations where the revenue originated. All the Company’s long-lived assets, which consist of plant and equipment, net and operating leases right-of-use assets, are located in Taiwan. Hence, no analysis by geographical area of long-lived asset information is provided.

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- Definition The entire disclosure for reporting segments including data and tables. 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