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v3.26.1

DISCONTINUED OPERATIONS (Tables) | 12 Months Ended
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Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
SCHEDULE OF ASSETS AND LIABILITIES FOR DISCONTINUED OPERATIONS OF THE DISPOSAL GROUP | The assets and liabilities for discontinued operations of the Disposal Group comprised the following items as of December 31, 2025 and 2024: SCHEDULE OF ASSETS AND LIABILITIES FOR DISCONTINUED OPERATIONS OF THE DISPOSAL GROUP
|  | As of December 31, |
|  | 2025 |  |  | 2024 |
Current assets held for sale associated with discontinued operation of ELPW |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 87 |  |  | $ | 389 |
Restricted cash |  |  | 128,866 |  |  |  | 171,487 |
Accounts receivable, net |  |  | - |  |  |  | 67,897 |
Inventories, net |  |  | - |  |  |  | 1,428,197 |
Prepaid expenses and other current assets |  |  | 1,111,798 |  |  |  | 1,340,507 |
Total current assets held for sale associated with discontinued operation of ELPW |  |  | 1,240,751 |  |  |  | 3,008,477 |
Non-current assets held for sale associated with discontinued operation of ELPW |  |  |  |  |  |  |  |
Long term accounts receivable, net |  |  | - |  |  |  | 8,569 |
Property, plant and equipment, net |  |  | - |  |  |  | 855,190 |
Intangible assets |  |  | - |  |  |  | 2,673 |
Right-of-use assets |  |  | 15,616,368 |  |  |  | 15,207,546 |
Finance lease right of use assets |  |  | 58,570 |  |  |  | 85,801 |
Total non-current assets held for sale associated with discontinued operation of ELPW |  |  | 15,674,938 |  |  |  | 16,159,779 |
Total assets held for sale associated with discontinued operation of ELPW |  | $ | 16,915,689 |  |  | $ | 19,168,256 |
Current liabilities held for sale associated with discontinued operation of ELPW |  |  |  |  |  |  |  |
Note Payable |  | $ | - |  |  | $ | 2,574,765 |
Short term loans |  |  | - |  |  |  | 1,807,324 |
Short-term loans– related parties |  |  | - |  |  |  | 561,698 |
Current portion of long-term loan payable |  |  | 500,493 |  |  |  | 479,498 |
Accounts and notes payable |  |  | 1,138,245 |  |  |  | 1,072,090 |
Amounts due to related parties |  |  | 76,295 |  |  |  | 59,395 |
Contract liabilities |  |  | 3,852,555 |  |  |  | 3,773,542 |
Accrued expenses and other current liabilities |  |  | 4,383,679 |  |  |  | 4,368,186 |
Product warranty provision-current |  |  | 1,485,175 |  |  |  | 1,368,031 |
Total current liabilities held for sale associated with discontinued operation of ELPW |  |  | 11,436,442 |  |  |  | 16,064,529 |
Non-current liabilities held for sale associated with discontinued operation of ELPW |  |  |  |  |  |  |  |
Product warranty provision-non current |  |  | 167,849 |  |  |  | 642,177 |
Lease liability-non current |  |  | 24,242,648 |  |  |  | 21,946,223 |
Finance liability-non current |  |  | 145,134 |  |  |  | 131,635 |
Total non-current liabilities held for sale associated with discontinued operation of ELPW |  |  | 24,555,631 |  |  |  | 22,720,035 |
Total liabilities held for sale associated with discontinued operation of ELPW |  | $ | 35,992,073 |  |  | $ | 38,784,564 |
Total net assets of the Disposal Group |  | $ | (19,076,384 | ) |  | $ | (19,616,308 | )
SCHEDULE OF CASH FLOWS OF DISPOSAL GROUP | The condensed cash flows of Disposal Group were as follows for the years ended December 31, 2025, 2024 and 2023: SCHEDULE OF CASH FLOWS OF DISPOSAL GROUP
|  | For the years ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Net cash generated from (used in) operating activities |  | $ | 984,591 |  |  | $ | (3,010,558 | ) |  | $ | (5,693,128 | )
Net cash used in investing activities |  |  | - |  |  |  | (145,650 | ) |  |  | (548,931 | )
Net cash generated from financing activities |  |  | 160,976 |  |  |  | 2,793,337 |  |  |  | 6,369,570 |
|  | 2025 |  |  | 2024 |  |  | 2023 |
|  | For the years ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Significant non-cash operating items: |  |  |  |  |  |  |  |  |  |  |  |
Reversal (provision) for losses on accounts receivable |  | $ | 425,124 |  |  | $ | 2,763,188 |  |  | $ | (301,002 | )
Provision for inventory |  |  | 277,780 |  |  |  | 483,992 |  |  |  | 184,713 |
Depreciation and amortization expense |  |  | 11,387 |  |  |  | 1,713,096 |  |  |  | 1,385,840 |
Impairment of property, plant and equipment |  |  | 526,793 |  |  |  | 10,350,589 |  |  |  | - |
Amortization of operating and finance right-of-use assets |  |  | 1,579,611 |  |  |  | 1,582,452 |  |  |  | 1,607,292 |
(Gain) loss on disposals of property, plant and equipment |  |  | (366,708 | ) |  |  | 52,220 |  |  |  | - |
(Reversal from) provision for warranty liability |  |  | (112,864 | ) |  |  | (674,122 | ) |  |  | 42,176 |
Significant investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Purchase of property, plant and equipment |  |  | - |  |  |  | - |  |  |  | (548,931 | )
Placement of long-term investments |  |  | - |  |  |  | (145,650 | ) |  |  | - |
Significant financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Repayment of bank borrowings |  |  | - |  |  |  | - |  |  |  | (706,108 | )
Capital injection from share capital shareholders |  |  | - |  |  |  | - |  |  |  | 4,236,649 |
Proceeds from borrowings from related parties |  |  | 117,076 |  |  |  | 13,897 |  |  |  | 564,887 |
Proceeds from borrowings from third parties |  |  | 43,900 |  |  |  | 3,549,343 |  |  |  | 2,010,327 |
Repayments of borrowings to third parties |  |  | - |  |  |  | (526,703 | ) |  |  | (475,632 | )
Proceed from loan payable with pledged assets |  |  | - |  |  |  | - |  |  |  | 985,929 |
Repayments of loan payable with pledged assets |  |  | - |  |  |  | (243,200 | ) |  |  | (246,482 | )
SCHEDULE OF RECONCILIATION OF DISCONTINUED OPERATIONS | Reconciliation of the major classes of losses from discontinued operations in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2025, 2024 and 2023 is as follow: SCHEDULE OF RECONCILIATION OF DISCONTINUED OPERATIONS
|  | For the years ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Major classes of line items constituting pre-tax profit of discontinued operations |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 304,284 |  |  | $ | 386,940 |  |  | $ | 3,162,739 |
Cost of revenues |  |  | (1,153,971 | ) |  |  | (575,868 | ) |  |  | (3,435,254 | )
Cost of revenue – idle capacity |  |  | (36,267 | ) |  |  | (572,862 | ) |  |  | (1,281,126 | )
Cost of revenue |  |  | (36,267 | ) |  |  | (572,862 | ) |  |  | (1,281,126 | )
Selling expenses |  |  | (2,333 | ) |  |  | (104,438 | ) |  |  | (216,146 | )
Reversal from (provision for) warranty liability |  |  | 112,864 |  |  |  | 674,122 |  |  |  | (42,176 | )
General and administrative expenses |  |  | (292,048 | ) |  |  | (1,371,078 | ) |  |  | (2,566,588 | )
Depreciation and amortization expense |  |  | (11,387 | ) |  |  | (1,713,096 | ) |  |  | (1,385,840 | )
Amortization of operating and finance right-of-use assets |  |  | (1,579,611 | ) |  |  | (1,582,452 | ) |  |  | (1,607,292 | )
(Provision for) reversal from credit loss |  |  | (425,124 | ) |  |  | (2,763,188 | ) |  |  | 301,002 |
Impairment of property, plant and equipment |  |  | (526,793 | ) |  |  | (10,350,589 | ) |  |  | - |
Research and development expenses |  |  | (18,266 | ) |  |  | (108,863 | ) |  |  | (873,968 | )
Interest expense |  |  | (59,549 | ) |  |  | (377,074 | ) |  |  | (82,474 | )
Charges of legal compensation and contract default penalty expense |  |  | (74,982 | ) |  |  | (436,809 | ) |  |  | (30,295 | )
Gain (loss) on disposals of property, plant, and equipment |  |  | 366,708 |  |  |  | (52,220 | ) |  |  | - |
Other income due to debt forgiven by a third party |  |  | 8,995 |  |  |  | 55,998 |  |  |  | 375,699 |
Government grant |  |  | - |  |  |  | - |  |  |  | 124,685 |
Others, net |  |  | (80,950 | ) |  |  | (398,450 | ) |  |  | 111,033 |
Loss from discontinued operations, before income tax |  |  | (3,468,430 | ) |  |  | (19,289,927 | ) |  |  | (7,446,001 | )
Income tax expense |  |  | - |  |  |  | - |  |  |  | - |
Net loss from discontinued operations |  | $ | (3,468,430 | ) |  | $ | (19,289,927 | ) |  | $ | (7,446,001 | )

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