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Segment Information
 12 Months Ended
Dec. 31, 2023
Segment Information [Abstract]  
SEGMENT INFORMATION

NOTE 19 – SEGMENT INFORMATION

 

The Company currently has two operating segments, (i) Gujia, MM Future and HC Securities, which provide market data services and consulting services, and (ii) MM Global, which operates as an introducing broker that clears all transactions through a clearing broker dealer and earns commission income, placement agent services fee and other related income from customers. Unallocated amounts that do not relate to an operating segment have been allocated to “Unallocated.” Since most of the Company’s long-lived assets are located in the PRC, no geographical information on long-lived assets is presented. Refer to Note 3 for disaggregated revenue information by geographical region attributed on the basis of the location where the revenue is originated.

 

The following tables present summary information by segment:

 

   Market data
services and
consulting
services		   Introducing
broker
services		   Unallocated   Total 
Year Ended December 31, 2023                
REVENUE  $824,098   $45,837   $
-
   $869,935 
                     
GROSS PROFIT  $660,399   $36,588   $
-
   $696,987 
                     
NET LOSS FROM CONTINUING OPERATIONS  $(1,495,023)  $(402,500)  $(2,456,947)  $(4,391,980)
                     
DEPRECIATION AND AMORTIZATION  $45,782   $
-
   $
-
   $45,782 
CAPITAL EXPENDITURE  $970   $
-
   $
-
   $970 
                     
Year Ended December 31, 2022                    
REVENUE  $696,668   $376,683   $
-
   $1,073,351 
                     
GROSS PROFIT  $542,167   $300,100   $
-
   $842,267 
                     
NET LOSS FROM CONTINUING OPERATIONS  $(2,850,985)  $(623,782)  $(2,189,612)  $(5,664,379)
                     
DEPRECIATION AND AMORTIZATION  $66,428   $
-
   $
-
   $66,428 
CAPITAL EXPENDITURE  $3,792   $
-
   $
-
   $3,792 
                     
Year Ended December 31, 2021                    
REVENUE  $176,262   $392,358   $
-
   $568,620 
                     
GROSS PROFIT  $34,960   $392,358   $
-
   $427,318 
                     
NET LOSS FROM CONTINUING OPERATIONS  $(4,075,518)  $(451,204)  $(2,590,585)  $(7,117,307)
                     
DEPRECIATION AND AMORTIZATION  $40,130   $
-
   $
-
   $40,130 
CAPITAL EXPENDITURE  $37,068   $
-
   $
-
   $37,068 
                     
As of December 31, 2023                    
TOTAL ASSETS  $7,586,067   $325,115   $149,076,038   $156,987,220 
As of December 31, 2022                    
TOTAL ASSETS  $8,910,311   $719,651   $1,785,545   $11,415,507