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DEFERRED TAX ASSETS AND LIABILITIES (Tables) | 12 Months Ended
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Dec. 31, 2024
Notes and other explanatory information [abstract] |
SUMMARY OF DEFERRED TAX ASSETS AND LIABILITIES | Deferred tax assets and (liabilities) as of December 31, 2024 and 2023 and the related activity for the years ended December 31, 2024 and 2023 are as follows: SUMMARY OF DEFERRED TAX ASSETS AND LIABILITIES
|  | Balance as of December 31, 2023 |  |  | Recognized in equity |  |  | Recognized in Provision for Income Taxes |  |  | Balance as of December 31, 2024 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intangible Assets |  | $ | (3,303,471 | ) |  | $ | - |  |  | $ | 3,303,471 |  |  | $ | - |
Property, plant, and equipment |  |  | 595,911 |  |  |  | (795,115 | ) |  |  | 199,092 |  |  |  | (112 | )
Other |  |  | 6,933 |  |  |  | — |  |  |  | (6,933 | ) |  |  | - |
|  |  | (2,700,627 | ) |  |  | (795,115 | ) |  |  | 3,495,630 |  |  |  | (112 | )
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Receivables |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Prepaid expenses |  |  | 333,551 |  |  |  | — |  |  |  | (332,107 | ) |  |  | 1,444 |
Other (Section 24C allowance) |  |  | 986,367 |  |  |  | — |  |  |  | (986,367 | ) |  |  | — |
|  |  | 1,319,918 |  |  |  | — |  |  |  | (1,318,474 | ) |  |  | 1,444 |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Income in Advance |  |  | 408,206 |  |  |  | 33,663 |  |  |  | (441,869 | ) |  |  | - |
Tax Losses |  |  | (1,307,820 | ) |  |  | 761,452 |  |  |  | 546,368 |  |  |  | - |
Net deferred tax assets and (liabilities) |  | $ | (2,280,323 | ) |  | $ | - |  |  | $ | 2,281,655 |  |  | $ | 1,332 |
|  | Balance as of December 31, 2022 |  |  | Recognized in Equity |  |  | Recognized in Provision for Income Taxes |  |  | Balance as of December 31, 2023 |
Non-current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intangible Assets |  | $ | (3,901,425 | ) |  | $ |  | - |  | $ | 597,954 |  |  | $ | (3,303,471 | )
Property, plant, 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Receivables |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
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 | )
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, 2024 and 2023 are as follows: SUMMARY OF UNUSED TAX LOSSES FOR WHICH NO DEFERRED TAX ASSETS HAVE BEEN RECOGNIZED
|  | 2024 |  |  | 2023 |
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Unused tax losses for which no deferred tax assets has been recognized |  | $ | (56,417,466 | ) |  | $ | (43,402,517 | )
Potential tax benefit of such unused tax losses at applicable statutory tax rates |  | $ | (11,501,499 | ) |  | $ | (7,722,631 | )
Unused tax losses |  | $ | (11,501,499 | ) |  | $ | (7,722,631 | )
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 |  | 2020 - 2024
New Zealand |  | 2021 - 2024
Singapore |  | 2021 - 2024
South Africa |  | 2021 - 2024
United Kingdom |  | 2023
United States |  | 2022 – 2024

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