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DEFERRED TAX ASSETS AND LIABILITIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes and other explanatory information [abstract] |
SUMMARY OF DEFERRED TAX ASSETS AND LIABILITIES | Deferred tax assets and (liabilities) as of December 31, 2023 and 2022 and the related activity for the years ended December 31, 2023 and 2022 are as follows: SUMMARY OF DEFERRED TAX ASSETS AND LIABILITIES
|  | Carrying amount as of December 31, 2022 |  |  | Recognized in equity |  |  | Recognized in Provision for Income Taxes |  |  | Carrying amount as of December 31, 2023 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intangible Assets |  | $ | (3,901,425 | ) |  | $ | - |  |  | $ | 597,954 |  |  | $ | (3,303,471 | )
Property and equipment |  |  | (87,695 | ) |  |  | 795,115 |  |  |  | (111,509 | ) |  |  | 595,911 |
Other |  |  | (2,240 | ) |  |  | — |  |  |  | 9,173 |  |  |  | 6,933 |
|  |  | (3,991,360 | ) |  |  | 795,115 |  |  |  | 495,618 |  |  |  | (2,700,627 | )
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prepaid expenses |  |  | — |  |  |  | — |  |  |  | 333,551 |  |  |  | 333,551 |
Other (Section 24C allowance) |  |  | 134,390 |  |  |  | — |  |  |  | 851,977 |  |  |  | 986,367 |
|  |  | 134,390 |  |  |  | — |  |  |  | 1,185,528 |  |  |  | 1,319,918 |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income in Advance |  |  | 365,377 |  |  |  | (33,663 | ) |  |  | 76,492 |  |  |  | 408,206 |
Tax Losses |  |  | 100,464 |  |  |  | (761,452 | ) |  |  | (646,832 | ) |  |  | (1,307,820 | )
Net deferred tax assets and (liabilities) |  | $ | (3,391,129 | ) |  | $ | - |  |  | $ | 1,110,806 |  |  | $ | (2,280,323 | )
|  | Carrying amount as of December 31, 2021 |  |  | Recognized in Business Combination |  |  | Recognized in Provision for Income Taxes |  |  | Carrying amount as of December 31, 2022 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intangible Assets |  | $ | - |  |  | $ | (4,425,990 | ) |  | $ | 524,565 |  |  | $ | (3,901,425 | )
Property and equipment |  |  | (883,075 | ) |  |  | (341,825 | ) |  |  | 1,137,205 |  |  |  | (87,695 | )
Other |  |  | - |  |  |  | — |  |  |  | (2,240 | ) |  |  | (2,240 | )
|  |  | (883,075 | ) |  |  | (4,767,815 | ) |  |  | 1,659,530 |  |  |  | (3,991,360 | )
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prepaid expenses |  |  | (17,195 | ) |  |  | — |  |  |  | 17,195 |  |  |  | — |
Other (Section 24C allowance) |  |  | 50,019 |  |  |  | 799,647 |  |  |  | (715,276 | ) |  |  | 134,390 |
|  |  | 32,824 |  |  |  | 799,647 |  |  |  | (698,081 | ) |  |  | 134,390 |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income in Advance |  |  | 127,129 |  |  |  | — |  |  |  | 238,248 |  |  |  | 365,377 |
Tax Losses |  |  | — |  |  |  | 15,995 |  |  |  | 84,469 |  |  |  | 100,464 |
Net deferred tax assets and (liabilities) |  | $ | (723,122 | ) |  | $ | (3,952,173 | ) |  | $ | 1,284,166 |  |  | $ | (3,391,129 | )
SUMMARY OF UNUSED TAX LOSSES FOR WHICH NO DEFERRED TAX ASSETS HAVE BEEN RECOGNIZED | Unused tax losses for which no deferred tax assets have been recognized as of December 31, 2023 and 2022 are as follows: SUMMARY OF UNUSED TAX LOSSES FOR WHICH NO DEFERRED TAX ASSETS HAVE BEEN RECOGNIZED
|  | 2023 |  |  | 2022 |
|  | As of December 31, |
|  | 2023 |  |  | 2022 |
Unused tax losses for which no deferred tax assets has been recognized |  | $ | (43,402,517 | ) |  | $ | (29,195,914 | )
Potential tax benefit of such unused tax losses at applicable statutory tax rates |  | $ | (7,722,631 | ) |  | $ | (6,338,526 | )
Unused tax losses |  | $ | (7,722,631 | ) |  | $ | (6,338,526 | )
SUMMARY OF JURISDICTIONS AND TAX YEARS | The following jurisdictions and tax years are open to audit: SUMMARY OF JURISDICTIONS AND TAX YEARS
Jurisdiction |  | Open Tax Years
Indonesia |  | 2019 - 2023
New Zealand |  | 2020 - 2023
Singapore |  | 2020 - 2023
South Africa |  | 2020 - 2023
United Kingdom |  | 2022
United States |  | 2021 - 2023

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