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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (33,179,687) $ (34,015,899) [1]
Net income (loss) from discontinued operation 1,054,155 (1,188,496) [1]
Net loss from continuing operations (34,233,842) (32,827,403) [1]
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 209,254 201,363
Amortization 57,035 57,035
Provision (Recovery) of doubtful debts 27,350,439 (716,914)
Impairment of goodwill 14,148,298
Impairment of short term investment 9,315 12,633
Interest expenses related to convertible note 77,363
Share-based payments 670,980 3,468,000 [1]
Changes in operating assets and liabilities    
Accounts receivable 2,637,772 5,564,429
Other receivables (10,366,870) (7,312,243)
Advances to suppliers and other current assets (5,106,927) 1,219,839
Operating lease assets and liabilities (8,779) 11,757
Accounts payable (1,082,414) (4,407,094)
Accrued expenses (1,177,100) 6,946,335
Advances from customers (273,152) (929,882)
Net cash used in operating activities – continued operations (21,236,926) (14,563,847)
Net cash provided by (used in) operating activities – discontinued operations 10,093,999 (24,066)
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (34,056) (65,653)
Disposal of property and equipment 230,738 32,490
Additions to loan receivables (421,249) (9,966,830)
Repayment of loan receivable 280,833 14,107,063
Payment for Short term Investment 946,669
Increase of financial products (1,391)
Debt investment (1,530,243)
Acquisition of a subsidiary, net of cash 4,679,434
Disposal of a subsidiary, net of cash (1,101,201) (5,993)
Net cash (used in) provided by investing activities from continued operations (1,629,900) 8,780,511
Net cash used in investing activities from discontinued operations (2,064,479) (745,440)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of common stock, net of issurance costs 2,580,643
Notes payable (3,589,582)
Proceeds from amounts due from related parties, net 166,766 83,055
Repayment of amounts due to related parties, net (240,238)
Proceeds from secured convertible promissory note 1,100,723
Net cash provided by (used in) financing activities from continued operations 2,507,171 (2,405,804)
Net cash provided by financing activities from discontinued operations 0 582,056
Effect of change in exchange rate (239,989) (188,642)
NET DECREASE IN CASH AND CASH EQUIVALENTS (12,570,124) (8,565,232)
Cash and cash equivalents, from the continuing operations beginning of year 17,412,865 27,597,510
Cash and restricted cash at end of year 4,842,741 19,032,278
Less: Cash and cash equivalents from the discontinued operations, end of year (1,619,413)
Cash and cash equivalents, from the continuing operations end of year 4,842,741 17,412,865
SUPPLEMENTARY DISCLOSURE OF SIGNIFICANT NON-CASH TRANSACTION    
Conversion of debt 625,000
SUPPLEMENTAL CASH FLOW INFORMATION:    
Income taxes paid 510,838
Interest paid $ 108,454
[1] Reclassification- certain reclassifications have been made to the financial statements for the period ended December 31, 2023 to conform to the presentation for the period ended December 31, 2024, with no effect on previously reported net income (loss).