XML 91 R68.htm IDEA: XBRL DOCUMENT v3.24.0.1
CBAK Energy Technology, Inc. (Parent Company) (Tables)
 12 Months Ended
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]  
Schedule of Statements of Operations
   Year ended
December 31,
2022		   Year ended
December 31,
2023		 
REVENUE, net  $
-
   $
-
 
           
OPERATING EXPENSES:          
Salaries and consulting expenses   227,588    1,386,099 
General and administrative   889,169    794,262 
           
Total operating expenses   (1,116,757)   (2,180,361)
           
LOSS FROM OPERATIONS   (1,116,757)   (2,180,361)
           
Changes in fair value of warrants liability   5,710,000    136,000 
           
INCOME (LOSS) ATTRIBUTABLE TO PARENT COMPANY   4,593,243    (2,044,361)
           
EQUITY IN LOSS OF SUBSIDIARIES   (14,041,689)   (609,897)
           
NET LOSS ATTRIBUTABLE TO SHAREHOLDERS  $(9,448,446)  $(2,654,258)

 
Schedule of Balance Sheets
   December 31,
2022		   December 31,
2023		 
ASSETS        
         
Interests in subsidiaries  $119,120,917   $114,257,553 
Cash and cash equivalents   118,559    26,922 
Total assets  $119,239,476   $114,284,475 
           
LIABILITIES AND SHAREHOLDERS’ EQUITY          
           
CURRENT LIABILITIES:          
Accrued expenses and other payables   1,608,102    1,586,745 
Warrants liability   136,000    - 
Total current liabilities   1,744,102    1,586,745 
           
SHAREHOLDERS’ EQUITY   117,495,374    112,697,730 
Total liabilities and shareholders’ equity  $119,239,476   $114,284,475 

 
Schedule of Statements of Cash Flows
   Year ended
December 31,
2022		   Year ended
December 31,
2023		 
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss  $(9,448,446)  $(2,449,057)
Adjustments to reconcile net loss to net cash used in operating activities:          
Equity in loss of subsidiaries   (14,041,689)   (815,098)
Share based compensation   64,193    1,225,747 
Changes in fair value of warrants liability   (5,710,000)   (136,000)
Change in operating assets and liabilities          
Accrued expenses and other payable   (2,127)   (21,357)
Net cash used in operating activities   (29,138,069)   (2,195,765)
           
CASH FLOWS FROM INVESTING ACTIVITIES:          
Increase in interest in subsidiaries   28,540,148    2,104,128 
Net cash used in investing activities   28,540,148    2,104,128 
           
CHANGE IN CASH AND CASH EQUIVALENTS   (597,921)   (91,637)
           
CASH AND CASH EQUIVALENTS, beginning of year   716,480    118,559 
           
CASH AND CASH EQUIVALENTS, end of year  $118,559   $26,922