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Condensed Financial Information of the Parent Company (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information of the Parent Company[Abstract] |
Schedule of Statements of Financial Position | The parent Company did not have significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2023 and 2022.
|  | As of December 31, |
|  | 2023 |  |  | 2022 |
|  | (Unaudited) |  |  | (Unaudited) |
Assets |  |  |  |  |  |
Cash and cash equivalents |  | $ | 15,751,630 |  |  | $ | 332,617 |
Other receivables |  |  | 108,215 |  |  |  | 9,000 |
Amount due from related parties |  |  | 3,311,266 |  |  |  | 7,020,000 |
Goodwill |  |  | 411,862 |  |  |  | 2,679,445 |
Investment in subsidiaries |  |  | 10,158,381 |  |  |  | 14,915,920 |
Total assets |  | $ | 29,741,354 |  |  | $ | 24,956,982 |
Liabilities and equity |  |  |  |  |  |  |  |
Other payables and liabilities |  | $ | 1,209,317 |  |  | $ | - |
Convertible note payable |  |  | - |  |  |  | 1,730,267 |
Borrowings from related parties |  |  | 3,300,212 |  |  |  | 4,033,084 |
Total liabilities |  |  | 4,509,529 |  |  |  | 5,763,351 |
Equity |  |  |  |  |  |  |  |
Ordinary shares – par value $0.12 authorized 300,000,000 shares, issued and outstanding 9,830,373 shares at December 31, 2023; par value $0.12* authorized 7,500,000 shares, issued and outstanding 1,618,977* shares at December 31, 2022 |  |  | 1,179,680 |  |  |  | 194,313 |
Subscription receivable |  |  | (50,000 | ) |  |  | (50,000 | )
Additional paid in capital |  |  | 80,983,164 |  |  |  | 46,231,302 |
Legal reserve |  |  | 223,500 |  |  |  | 223,500 |
Warrants reserve |  |  | 251,036 |  |  |  | 251,036 |
Accumulated deficit |  |  | (58,340,675 | ) |  |  | (28,769,014 | )
Accumulated other comprehensive income |  |  | 985,120 |  |  |  | 1,112,494 |
Capital & reserves attributable to equity holders of the Company |  |  | 25,231,825 |  |  |  | 19,193,631 |
Total liabilities and equity |  | $ | 29,741,354 |  |  | $ | 24,956,982 |
| * | Giving retroactive effect to the 2023 share consolidation on January 31, 2023.
Schedule of Statements of Profit and Loss and Comprehensive Loss |
|  | For the years ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (Unaudited) |  |  | (Unaudited) |  |  | (Unaudited) |
Revenue |  | $ | - |  |  | $ | - |  |  | $ | - |
Cost of sales |  |  | - |  |  |  | - |  |  |  | - |
Gross margin |  |  | - |  |  |  | - |  |  |  | - |
Impairment of goodwill |  |  | (2,267,583 | ) |  |  | - |  |  |  | - |
Stock-based compensation expense |  |  | (1,101,800 | ) |  |  | - |  |  |  | - |
Administrative expenses |  |  | (2,931,064 | ) |  |  | (4,042,981 | ) |  |  | (1,861,520 | )
Loss from operations |  |  | (6,300,447 | ) |  |  | (4,042,981 | ) |  |  | (1,861,520 | )
Other income, net |  |  | 380,759 |  |  |  | 56,642 |  |  |  | 227,205 |
Finance cost |  |  | 8,420 |  |  |  | (315,750 | ) |  |  | (99,470 | )
Equity loss of subsidiaries |  |  | (23,660,393 | ) |  |  | (14,262,705 | ) |  |  | (3,748,142 | )
Net loss attributable to equity holders of the Company |  | $ | (29,571,661 | ) |  | $ | (18,564,794 | ) |  | $ | (5,481,927 | )
Schedule of Statements of Cash Flows |
|  | For the years ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (Unaudited) |  |  | (Unaudited) |  |  | (Unaudited) |
Operating activities |  |  |  |  |  |  |  |  |
Net loss |  | $ | (29,571,661 | ) |  | $ | (18,564,794 | ) |  | $ | (5,481,927 | )
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation expense |  |  | 1,101,800 |  |  |  | 252,095 |  |  |  | - |
Finance costs |  |  | 62,371 |  |  |  | 230,267 |  |  |  | - |
Impairment of goodwill |  |  | 2,267,583 |  |  |  | - |  |  |  | - |
Equity loss from equity investments |  |  | 14,262,703 |  |  |  | 14,262,705 |  |  |  | 3,748,142 |
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Other receivables, net |  |  | (99,215 | ) |  |  | (3,167 | ) |  |  | (5,833 | )
Other payables and liabilities |  |  | 6,625,255 |  |  |  | (25,834,800 | ) |  |  | (7,405,803 | )
Net cash used in operating activities |  |  | (5,351,164 | ) |  |  | (29,657,694 | ) |  |  | (9,145,421 | )
Financing activities |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issue of shares |  |  | 20,867,386 |  |  |  | 20,346,353 |  |  |  | 13,244,329 |
Proceeds from exercise of warrants |  |  | 506,693 |  |  |  | 3,014,710 |  |  |  | - |
Proceeds from a convertible note |  |  | - |  |  |  | 1,500,000 |  |  |  | - |
Cash repayment for a convertible note |  |  | (554,238 | ) |  |  | - |  |  |  | - |
Cash paid for the cancellation of fractional shares |  |  | (49,664 | ) |  |  | - |  |  |  | - |
Net cash provided by financing activities |  |  | 20,770,177 |  |  |  | 24,860,063 |  |  |  | 13,244,329 |
Net increase (decrease) in cash and cash equivalents, and restricted cash |  |  | 15,419,013 |  |  |  | (4,796,631 | ) |  |  | 4,098,908 |
Cash and cash equivalents at beginning of year |  |  | 332,617 |  |  |  | 5,129,248 |  |  |  | 1,030,340 |
Cash and cash equivalents at end of year |  | $ | 15,751,630 |  |  | $ | 332,617 |  |  | $ | 5,129,248 |

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