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Subsequent Events | 9 Months Ended
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Sep. 30, 2024
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | 16. SUBSEQUENT EVENTS In October 2024, the Company entered into an agreement with its landlord in California, pursuant that the Company will issue 64,147 shares of common stock for the rent payable for October 2024, at the average VWAP (Volume Weighted Average Price) of last five trading days of October 2024 in total of $32,074. These shares are restricted for six months from the issuance but no later than April 30, 2025. The November 2024 rent of $32,074 will also be paid in the form of the Company’s common stock, at the average of last five trading days of November 2024. These shares are restricted for six months from the issuance but no later than May 31, 2025. On October 18, 2024, the Company issued Lind 200,000 shares of the Company’s common stock as a repayment of $200,000 principal of 2nd Lind Note. According to the amended agreement pursuant to Nasdaq requirements, the conversion price is subject to $1.00 floor price if the conversion price was below such floor. Based on the conversion price of $0.4229, the Company made an additional $147,892 cash repayment in addition to the issuance of 200,000 shares. In November 2024, the Company and Lind entered into a letter agreement, pursuant to which Lind will exercise, for cash, 500,000 of its Pre-Existing Warrant, to purchase shares of Common Stock at a reduced exercise price of $0.42 per share. In October 2024, the title transfer process of the land acquired by AiBtl was completed, and AiBtl now possesses the land through a fully owned Taiwan-based subsidiary. In October 2024, AiBtl entered an agreement with an investor that AiBtl will issue a convertible note for $30,000. The note has a 1-year term, bears no interest, and can be converted to AiBtl’s common shares at $5 per share any time prior to maturity. AiBtl can repay the note at any time prior to the maturity date without penalty. Except as disclosed above, the Company has evaluated subsequent events and transactions that occurred after September 30, 2024 up through the date the Company issued these unaudited consolidated financial statements on November 14, 2024. All subsequent events requiring recognition as of September 30, 2024 have been incorporated into these unaudited consolidated financial statements and there are no other subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.”

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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