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Accrued Expenses and Other Payables | 6 Months Ended
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Jun. 30, 2024
Accrued Expenses and Other Payables [Abstract] |
ACCRUED EXPENSES AND OTHER PAYABLES | 15. ACCRUED EXPENSES AND OTHER PAYABLES The amount of accrued expenses and other payables consisted of the followings:
|  | June 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Legal fee and other professionals |  | $ | 54,411 |  |  | $ | 828,310 |
Wages and employee reimbursement |  |  | 310,894 |  |  |  | 290,487 |
Provision for legal case |  |  | 10,598,380 |  |  |  | 8,875,265 |
Suppliers |  |  | 625,557 |  |  |  | 731,521 |
Accruals |  |  | 1,202,972 |  |  |  | 1,049,127 |
Total |  | $ | 12,792,214 |  |  | $ | 11,774,710 |
In January 2021, FT Global Capital, Inc. (“FT Global”), a former placement agent of the Company filed a lawsuit against the Company in the Superior Court of Fulton County, Georgia (the “Court”). FT Global served the complaint upon the Company in January 2021. In the complaint, FT Global alleges claims, most of which attempt to hold the Company liable under legal theories that relate back to an alleged breach of an exclusive placement agent agreement between FT Global and the Company in July 2020 which had a term of three months. FT Global claims that the Company failed to compensate FT Global for securities purchase transactions between December 2020 and April 2021, pursuant to the terms of the expired exclusive placement agent agreement. On April 11, 2024, the jury returned a verdict in favor of FT Global and the Court entered a judgment awarding FT Global $8,875,265. On April 16, 2024, the Court issued an amended judgment, awarding FT Global $10,598,379.93, which includes $7,895,265.31 in damages, $1,723,114.62 in prejudgment interest, and $980,000.00 in attorney’s fees.

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- Definition The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 720 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483384/720-30-45-1 + Details
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