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Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2024
Basis of Presentation and Summary of Significant Accounting Policies |
Schedule of restricted cash |
|  | March 31, 2024 |  |  | December 31, 2023 |
|  | (Unaudited) |  |  |  |
Deposit held by a US financial institution as collateral for ACH transactions and business credit cards – US Segment |  | $ | 356,510 |  |  | $ | 354,504 |
Less: current portion |  |  | - |  |  |  | - |
Noncurrent portion |  | $ | 356,510 |  |  | $ | 354,504 |
Schedule of estimated useful life of property and equipment |
Automobiles | 4-5 years
Furniture and equipment | 3-10 years
Leasehold improvements | Shorter of the asset’s useful life or lease term
Solar systems leased to customers | Lease term, 10-20 years
Schedule of fair value measurements of cash, loans and borrowings |
|  | Fair Value |  |  | Carrying |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Value |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 359,996 |  |  | $ | - |  |  | $ | - |  |  | $ | 359,996 |
Customer loans receivable |  |  | - |  |  |  | - |  |  |  | 6,237,101 |  |  |  | 5,840,006 |
Short- term investments |  |  | 7,000,000 |  |  |  |  |  |  |  |  |  |  |  | 7,000,000 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank and other loans |  |  | - |  |  |  | 2,000,000 |  |  |  | - |  |  |  | 2,000,000 |
Secured loans from related parties |  |  | - |  |  |  | - |  |  |  | 14,053,042 |  |  |  | 15,000,000 |
Secured convertible debt |  |  | - |  |  |  | - |  |  |  | 12,425,272 |  |  |  | 14,943,217 |
|  | Fair Value |  |  | Carrying |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Value |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 358,290 |  |  | $ | - |  |  | $ | - |  |  | $ | 358,290 |
Customer loans receivable |  |  | - |  |  |  | - |  |  |  | 6,847,185 |  |  |  | 6,535,516 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank and other loans |  |  | - |  |  |  | 2,000,000 |  |  |  | - |  |  |  | 2,000,000 |
Secured loans from related parties |  |  | - |  |  |  | - |  |  |  | 16,200,860 |  |  |  | 17,000,000 |
Secured convertible debt |  |  | - |  |  |  | - |  |  |  | 13,324,921 |  |  |  | 15,949,768 |
Schedule of company's revenue by business line |
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
|  | (Unaudited) |
Solar energy and battery storage systems |  |  |  |  |  |
Sales on non-installment basis |  | $ | 4,332,490 |  |  | $ | 12,027,898 |
Third party leasing arrangements |  |  | 289,178 |  |  |  | - |
Operating lease revenues |  |  | 18,820 |  |  |  | 22,417 |
Power purchase agreement revenues |  |  | 3,958 |  |  |  | - |
Total solar energy and battery storage systems |  |  | 4,644,446 |  |  |  | 12,050,315 |
LED projects |  |  | 1,018,010 |  |  |  | 666,744 |
Financing related |  |  | 101,618 |  |  |  | 151,419 |
Total revenues |  | $ | 5,764,074 |  |  | $ | 12,868,478 |

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