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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 85,265 $ 5,828,548
Restricted cash and cash equivalents 1,306,463 736,667
Accounts receivable, net 98,325 280,692
Accounts receivable – related parties, net 757,343 145,399
Due from related parties 513,819
Inventories, net 25,975
Short-term investments 75,797 108,147
Prepaid expense and other current assets 150,235 528,354
Total Current Assets 2,987,247 7,653,782
Property and equipment, net 573,978 525,881
Operating lease right-of-use assets 1,161,141 1,471,899
Long-term investments 842,070 932,755
Deferred tax assets, net 117,110 981,912
Prepaid expenses – noncurrent 135,135 119,309
Security deposits 58,838 41,157
Prepayment for long-term investments 2,838,578 1,153,155
Due from related parties – noncurrent 1,141,378 818,183
Total Assets 9,855,475 13,698,033
Current Liabilities    
Short-term bank loans 1,893,750 1,640,000
Accrued expenses and other current liabilities 2,909,587 1,300,803
Advance from customers 10,985 10,985
Operating lease liabilities – current portion 369,314 347,100
Due to related parties 635,893 393,424
Total Current Liabilities 5,819,529 3,692,312
Tenant security deposit 7,980 10,580
Operating lease liability – noncurrent portion 791,827 1,124,799
Total Liabilities 6,619,336 4,827,691
COMMITMENTS AND CONTINGENCIES
Equity    
Preferred stock, $0.001 par value, 20,000,000 authorized, nil shares issued and outstanding
Common stock, $0.001 par value, 100,000,000 authorized, 32,857,329 and 28,926,322 shares issued and outstanding as of December 31, 2022 and 2021, respectively 32,857 28,926
Additional paid-in capital 67,907,479 58,113,667
Stock subscription receivable (1,354,440) (2,257,400)
Accumulated deficit (54,904,439) (38,481,200)
Accumulated other comprehensive income 517,128 539,660
Treasury stock (9,100,000) (9,100,000)
Total Stockholders’ equity 3,098,585 8,843,653
Noncontrolling interest 137,554 26,689
Total Equity 3,236,139 8,870,342
Total Liabilities and Equity $ 9,855,475 $ 13,698,033