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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 60,155 $ 85,265
Restricted cash 656,625 1,306,463
Accounts receivable, net 1,530 98,325
Short-term investments 79,312 75,797
Prepaid expense and other current assets 101,051 150,235
Total Current Assets 1,656,709 2,987,247
Property and equipment, net 7,969,278 573,978
Operating lease right-of-use assets 809,283 1,161,141
Long-term investments 2,527,740 842,070
Deferred tax assets, net 117,110
Prepaid expenses – non-current 78,789 135,135
Security deposits 62,442 58,838
Prepayment for long-term investments 1,274,842 2,838,578
Due from related parties – non-current, net 113,516 865,477
Total Assets 14,492,599 9,579,574
Current Liabilities    
Short-term bank loans 899,250 1,893,750
Accrued expenses and other current liabilities 3,696,380 2,909,587
Contract liabilities 79,500 10,985
Taxes payables 112,946  
Operating lease liabilities – current portion 401,826 369,314
Due to related parties 173,132 359,992
Convertible notes payable – third parties, net 569,456
Total Current Liabilities 5,932,490 5,543,628
Tenant security deposit 21,680 7,980
Operating lease liability – non-current portion 407,457 791,827
Total Liabilities 6,361,627 6,343,435
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, 7,940,298 and 3,286,190 shares issued and outstanding as of December 31, 2023 and 2022, respectively(1) [1] 7,940 3,286
Additional paid-in capital 82,636,966 67,937,050
Stock subscription receivable (451,480) (1,354,440)
Accumulated deficit (65,420,095) (54,904,439)
Accumulated other comprehensive income 516,387 517,128
Treasury stock (8,901,668) (9,100,000)
Total Stockholders’ equity 8,388,050 3,098,585
Noncontrolling interest (257,078) 137,554
Total Equity 8,130,972 3,236,139
Total Liabilities and Equity 14,492,599 9,579,574
Related Party    
Current Assets    
Accounts receivable – related parties, net 10,463 757,343
Due from related parties – current 747,573 513,819
Due from related parties – non-current, net 113,516 865,477
Current Liabilities    
Due to related parties $ 173,132 $ 359,992
[1] Prior period results have been adjusted to reflect the 1-for-10 reverse stock split effected on July 25, 2023.