Loan Receivable, Net	12 Months Ended
Dec. 31, 2023
Loan Receivable, Net [Abstract]
LOAN RECEIVABLE, NET	NOTE 6 – LOAN RECEIVABLE, NET Pursuant to the investment agreement dated as of September 1, 2021, the Company agreed to invest $350,000 to acquire a 4.99% interest in HuaMei Trading Management Limited (“HuaMei Trading”), a Hong Kong corporation. HuaMei Trading acquired a wholly-owned subsidiary, Xiaosong Xiaoya (Chongqing) Technology Co., Ltd (“Xiaosong Xiaoya”) on January 25, 2021. Xiaosong Xiaoya was incorporated in People’s Republic of China (“PRC”) on January 25, 2021. HuaMei Trading is a financial technology company which provides data service. As the Company changed its investment strategy and considered operation risks, on December 5, 2021, HuaMei Trading agreed to return $350,000 in full before December 5, 2022. The balance of $350,000 was transferred into an interest-bearing loan. The term of the loan was December 5, 2021 to December 4, 2022, and the interest rate was 3.85% per annum. Pursuant to the loan agreement dated November 5, 2021, the Company agreed to loan $200,000 to HuaMei Trading. The term of the loan was from November 12, 2021, to November 11, 2022, and the interest rate was 3.85% per annum. Considering that the business conditions of HuaMei Trading were not as expected, the Company recorded an allowance for bad debts of $550,000 to fully reserve the loan to Huamei Trading during fiscal year ended December 31, 2021, which was included in “Other general and administrative expenses” on the accompanying consolidated statements of operations and comprehensive income/ (loss). During fiscal year ended December 31, 2023, the Company fully collected the loan and related interest from HuaMei Trading, and the written off of $550,000 is recovered. In December 2021, the Company extended a loan to Cacti Fintec Limited in an amount of $2.1 million. The loan had an interest rate of 3.78% per annum with maturity date in December, 2022. In December 2022, the loan was extended to December 2023 with a modified interest rate of 4.35% per annum subsequently. In November 2022 and December 2022, the Company extended additional two loans to Cacti Fintec Limited in the amount of $1.3 million and $250,000, respectively. The loans had an interest rate of 4.35% per annum with maturity dates in November 2023 and December 2023, respectively. In April 2023, the above loans to Cacti Fintec Limited were terminated and the Company transferred the creditor’s right to CapitoLabs Limited, which represented part of the consideration of the acquisition of Alpha Mind. As of December 31, 2023, the Company’s total loan to Cacti Fintec Limited was nil. In February 2022, the Company extended a loan to a third party company in an amount of $100,000. Considering the collection is not probable, the Company recorded an allowance for bad debts of $100,000 to fully reserve the loan to the third party company during fiscal year ended December 31, 2022, which was included in “Other general and administrative expenses” on the accompanying consolidated statements of operations and comprehensive income/ (loss). In July 2022, the Company extended a loan to Yifan Sun, a third party, in an amount of $120,000. The loan had an interest rate of 3.85% per annum with a maturity date in July 2023. Sun Yifan repaid $75,000 during fiscal year ended December 31, 2022, and repaid $45,000 during fiscal year ended December 31, 2023. As of December 31, 2023, the Company fully collected the loan and interest as of reporting date. In July 2022 and September 2022, the Company extended two loans to FLJ Group Limited (formerly known as “Q&K International Group Limited”) in the amount of $500,000 and $100,000, respectively. The loans had an interest rate of 3.85% per annum with a maturity date in July 2023. In July 2023, the Company extended the loan to FLJ in the amount of $600,000. As of December 31, 2023, the Company’s total loan to FLJ Group Limited amounted to $600,000. In September 2022, the Company agreed to extend a loan to Yong Zhang, a third party, in an amount of RMB 1,650,000 (approximately $237,000). The loan had an interest rate of 3.65% per annum with a maturity date in September 2023. During fiscal year ended December 31, 2023, the Company fully collected the loan and related interest from Yong Zhang.

Loan Receivable, Net

12 Months Ended

Dec. 31, 2023

NOTE 6 – LOAN RECEIVABLE, NET

Pursuant to the investment agreement dated as of September 1, 2021, the Company agreed to invest $350,000 to acquire a 4.99% interest in HuaMei Trading Management Limited (“HuaMei Trading”), a Hong Kong corporation. HuaMei Trading acquired a wholly-owned subsidiary, Xiaosong Xiaoya (Chongqing) Technology Co., Ltd (“Xiaosong Xiaoya”) on January 25, 2021. Xiaosong Xiaoya was incorporated in People’s Republic of China (“PRC”) on January 25, 2021. HuaMei Trading is a financial technology company which provides data service. As the Company changed its investment strategy and considered operation risks, on December 5, 2021, HuaMei Trading agreed to return $350,000 in full before December 5, 2022. The balance of $350,000 was transferred into an interest-bearing loan. The term of the loan was December 5, 2021 to December 4, 2022, and the interest rate was 3.85% per annum.

Pursuant to the loan agreement dated November 5, 2021, the Company agreed to loan $200,000 to HuaMei Trading. The term of the loan was from November 12, 2021, to November 11, 2022, and the interest rate was 3.85% per annum.

Considering that the business conditions of HuaMei Trading were not as expected, the Company recorded an allowance for bad debts of $550,000 to fully reserve the loan to Huamei Trading during fiscal year ended December 31, 2021, which was included in “Other general and administrative expenses” on the accompanying consolidated statements of operations and comprehensive income/ (loss). During fiscal year ended December 31, 2023, the Company fully collected the loan and related interest from HuaMei Trading, and the written off of $550,000 is recovered.

In December 2021, the Company extended a loan to Cacti Fintec Limited in an amount of $2.1 million. The loan had an interest rate of 3.78% per annum with maturity date in December, 2022. In December 2022, the loan was extended to December 2023 with a modified interest rate of 4.35% per annum subsequently. In November 2022 and December 2022, the Company extended additional two loans to Cacti Fintec Limited in the amount of $1.3 million and $250,000, respectively. The loans had an interest rate of 4.35% per annum with maturity dates in November 2023 and December 2023, respectively. In April 2023, the above loans to Cacti Fintec Limited were terminated and the Company transferred the creditor’s right to CapitoLabs Limited, which represented part of the consideration of the acquisition of Alpha Mind. As of December 31, 2023, the Company’s total loan to Cacti Fintec Limited was nil.

In February 2022, the Company extended a loan to a third party company in an amount of $100,000. Considering the collection is not probable, the Company recorded an allowance for bad debts of $100,000 to fully reserve the loan to the third party company during fiscal year ended December 31, 2022, which was included in “Other general and administrative expenses” on the accompanying consolidated statements of operations and comprehensive income/ (loss).

In July 2022, the Company extended a loan to Yifan Sun, a third party, in an amount of $120,000. The loan had an interest rate of 3.85% per annum with a maturity date in July 2023. Sun Yifan repaid $75,000 during fiscal year ended December 31, 2022, and repaid $45,000 during fiscal year ended December 31, 2023. As of December 31, 2023, the Company fully collected the loan and interest as of reporting date.

In July 2022 and September 2022, the Company extended two loans to FLJ Group Limited (formerly known as “Q&K International Group Limited”) in the amount of $500,000 and $100,000, respectively. The loans had an interest rate of 3.85% per annum with a maturity date in July 2023. In July 2023, the Company extended the loan to FLJ in the amount of $600,000. As of December 31, 2023, the Company’s total loan to FLJ Group Limited amounted to $600,000.

In September 2022, the Company agreed to extend a loan to Yong Zhang, a third party, in an amount of RMB 1,650,000 (approximately $237,000). The loan had an interest rate of 3.65% per annum with a maturity date in September 2023. During fiscal year ended December 31, 2023, the Company fully collected the loan and related interest from Yong Zhang.