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Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 30,489 $ 60,155
Restricted cash 628,513 656,625
Accounts receivable, net 1,530 1,530
Short-term investments 75,916 79,312
Prepaid expense and other current assets 159,602 101,051
Total Current Assets 1,794,450 1,656,709
Property and equipment, net 7,949,150 7,969,278
Operating lease right-of-use assets 708,023 809,283
Long-term investments 2,474,514 2,527,740
Deferred tax assets, net
Prepaid expenses – non-current 75,416 78,789
Security deposits 60,644 62,442
Prepayment for long-term investments 1,274,842 1,274,842
Due from related parties – non-current, net 123,363 113,516
Total Assets 14,460,402 14,492,599
Current Liabilities    
Short-term bank loans 860,750 899,250
Accrued expenses and other current liabilities 4,050,845 3,696,380
Contract liabilities 79,500 79,500
Taxes payables 108,110 112,946
Operating lease liabilities – current portion 389,870 401,826
Convertible notes payable – third parties, net 842,567 569,456
Total Current Liabilities 6,633,614 5,932,490
Tenant security deposit 21,680 21,680
Operating lease liability – non-current portion 318,153 407,457
Total Liabilities 6,973,447 6,361,627
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, 10,698,315 and 7,940,298 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively(1) [1] 10,698 7,940
Additional paid-in capital 86,029,237 82,636,966
Stock subscription receivable (225,740) (451,480)
Accumulated deficit (69,353,071) (65,420,095)
Accumulated other comprehensive income 233,323 516,387
Treasury stock (8,902,371) (8,901,668)
Total Stockholders’ equity 7,792,076 8,388,050
Noncontrolling interest (305,121) (257,078)
Total Equity 7,486,955 8,130,972
Total Liabilities and Equity 14,460,402 14,492,599
Related Party    
Current Assets    
Accounts receivable – related parties, net 10,463 10,463
Due from related parties – current 887,937 747,573
Due from related parties – non-current, net 123,363 113,516
Current Liabilities    
Due to related parties $ 301,972 $ 173,132
[1] Prior period results have been adjusted to reflect the 1-for-10 reverse stock split effected on July 25, 2023.