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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES $ 3,888,893 $ 4,541,690 $ 8,484,424 $ 7,276,623
COST OF REVENUES 2,988,266 3,638,926 6,039,807 5,123,917
GROSS PROFIT 900,627 902,764 2,444,617 2,152,706
OPERATING EXPENSES        
Selling expenses 187,062 146,945 405,437 345,436
General and administrative expenses 1,461,225 384,199 1,946,262 739,326
Finance Cost 0 0 0  
Research and development expenses 419,588 210,104 932,185 510,315
Total operating expenses 2,067,875 741,248 3,283,884 1,595,077
INCOME FROM OPERATIONS (1,167,248) 161,516 (839,267) 557,629
OTHER INCOME (EXPENSE)        
Interest expense (77,696) (330,720) (345,644) (418,457)
Amortization of debt discounts 0 (522,288) 0 (645,576)
Extinguishment loss 0 0 0  
Other income 250,248 394 250,248 552
Other expenses 0 0 0 0
Exchange loss 0 (5,600) 0  
Total other income (expenses), net 172,552 (858,214) (95,396) (1,063,481)
LOSS BEFORE TAXES (994,696) (696,698) (934,663) (505,852)
Income tax expense (2,799) (389) (2,799) (5,769)
NET LOSS (997,495) (697,087) (937,462) (511,621)
Other comprehensive income :        
Foreign currency translation adjustment 92,549 10,455 162,251 384,191
Total comprehensive loss $ (904,946) $ (686,632) $ (775,211) $ (127,430)
Basic earnings per share $ (0.04) $ (0.03) $ (0.04) [1] $ (0.03) [1]
Diluted earnings per share $ (0.04) $ (0.03) $ (0.04) [1] $ (0.03) [1]
Weighted average number of shares of common stock outstanding – basic 22,912,667 20,000,000 22,142,099 [1] 20,000,000 [1]
Weighted average number of shares of common stock outstanding – diluted 22,912,667 20,000,000 22,142,099 [1] 20,000,000 [1]
[1] Retrospectively restated for the effect of 2-for-1 reverse stock split. (Note 18)