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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 1,759,786 $ 3,812,772
Accounts receivable, net 92,040 199,995
Loan receivable, net 634,576 4,620,824
Security deposits - Current 8,662 8,274
Prepaid expenses and other current assets 415,725 172,205
Deferred offering cost 112,748 112,748
Current assets of discontinued operations 108,393
Total current assets 3,023,537 9,035,211
NON-CURRENT ASSETS:    
Security deposits - Non-current 138,890 140,746
Property and equipment, net 129,072 184,423
Deposit for business acquisition 1,000,000
Notes receivable 153,050,301
Operating lease right-of-use asset 645,420 1,055,127
Total non-current assets 153,963,683 2,380,296
Total assets 156,987,220 11,415,507
CURRENT LIABILITIES:    
Salary payable 308,068 372,980
Loan payable 241,750
Accrued liabilities and other payables 1,070,270 370,697
Operating lease liabilities - Current 373,860 405,591
Current liabilities of discontinued operations 24,655
Total current liabilities 1,993,948 1,173,923
NON-CURRENT LIABILITIES:    
Accrued liabilities - Non-current 83,700 209,250
Operating lease liabilities - Non-current 266,763 647,983
Convertible promissory notes 32,278,403
Total non-current liabilities 32,628,866 857,233
Total liabilities 34,622,814 2,031,156
Commitments and Contingencies
SHAREHOLDERS’ EQUITY:    
Common shares ($0.01 par value, 5,000,000,000 shares authorized; 199,145,041 and 5,145,041 shares issued and outstanding at December 31, 2023 and December 31, 2022) * [1] 1,991,451 51,451
Shares to be issued 1,430,000
Additional paid-in capital 92,509,003 31,727,407
Accumulated profits (deficit) 26,705,053 (22,253,030)
Accumulated other comprehensive loss (271,101) (141,477)
Total shareholders’ equity attributable to MMTEC, INC. 122,364,406 9,384,351
Non-controlling interests
Total shareholders’ equity 122,364,406 9,384,351
Total liabilities and shareholders’ equity $ 156,987,220 $ 11,415,507
[1] After giving effect to the reverse stock split effected on July 13, 2022. Also see Note 15.