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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current assets    
Cash $ 5,495,270 $ 1,203,160
Short-term investments 6,727,141 4,290,348
Accounts receivable, net 1,263,451 3,271,218
Advances to suppliers, net 342,737 481,769
Inventories, net 456,516 430,670
Deferred offering cost 917,446
Loans receivable 7,487,166 1,013,157
Prepaid expenses and other current assets 602,496 94,925
Total current assets 22,374,777 12,102,158
Non-current assets    
Non-current accounts receivable 5,165,528 4,209,546
Non-current advance to a third party 401,647 421,679
Non-current loan receivable 4,342,100
Property, equipment and software, net 235,395 122,967
Operating lease right-of-use assets 4,800 6,641
Long-term investments 5,000,000
Total non-current assets 10,807,370 9,102,933
Total Assets 33,182,147 21,205,091
Current liabilities    
Accounts payable 559,573 696,734
Advances from customers 70,538
Loan payable 2,550,423 506,578
Deferred revenue 503,757 977,054
Taxes payable 1,708,684 1,671,322
Accrued expenses and other current liabilities 310,772 348,167
Operating lease liabilities 3,162 3,242
Total current liabilities 5,708,023 4,203,695
Non-current Liabilities    
Loan payable, non-current 2,171,050
Deferred income tax liabilities, non-current 1,515,182 1,300,421
Operating lease liabilities, non-current 1,638 3,399
Total non-current liabilities 1,516,820 3,474,870
Total Liabilities 7,224,843 7,678,565
Commitments and Contingencies
Shareholders’ Equity    
Ordinary Shares, par value $0.0001 per share, 490,000,000 shares authorized; 14,392,364 shares and 10,987,679 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively. 1,439 1,099
Additional paid-in capital 16,721,551 2,628,356
Statutory reserve 836,215 836,215
Retained earnings 9,174,695 10,340,107
Accumulated other comprehensive loss (776,596) (279,251)
Total Shareholders’ Equity 25,957,304 13,526,526
Total Liabilities and Shareholders’ Equity 33,182,147 21,205,091
Related Party    
Current assets    
Accounts receivable, net 399,465
Current liabilities    
Due to related parties $ 1,114 $ 598