XML 19 R2.htm IDEA: XBRL DOCUMENT v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 443,591 $ 146,125
Short term investment 7,165,232 7,028,594
Accounts receivable 889,533
Prepaid expenses and other current assets 2,066,487 219,612
Current assets held for sale associated with discontinued operation of ELPW 1,240,751 3,008,477
TOTAL CURRENT ASSETS 11,877,093 10,471,308
Property, plant and equipment, net 117,453
Right-of-use asset 71,751
Non-current assets held for sale associated with discontinued operation of ELPW 15,674,938 16,159,779
TOTAL NON CURRENT ASSETS 15,864,142 16,159,779
TOTAL ASSETS 27,741,235 26,631,087
CURRENT LIABILITIES    
Accounts payable 875,063
Amounts due to related parties 79,773 55,918
Contract liabilities 2,038,433 104,660
Accrued expenses and other current liabilities 1,812,778 1,957,623
Product warranty provision 83,784
Lease liability 32,074
Current liabilities held for sale associated with discontinued operation of ELPW 11,436,442 16,064,529
TOTAL CURRENT LIABILITIES 25,887,182 20,361,777
Product warranty provision 638
Lease liability 41,644
Non-current liabilities held for sale associated with discontinued operation of ELPW 24,555,631 22,720,035
TOTAL NON CURRENT LIABILITIES 24,597,913 22,720,035
TOTAL LIABILITIES 50,485,095 43,081,812
SHAREHOLDERS’ DEFICIT    
Treasury shares (80)
Additional paid in capital [1] 51,070,354 51,070,184
Statutory reserve 708,470 708,470
Accumulated deficit (74,474,141) (68,903,695)
Accumulated other comprehensive (loss) income (48,964) 673,725
TOTAL SHAREHOLDERS’ DEFICIT (22,743,860) (16,450,725)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT 27,741,235 26,631,087
Common Class A [Member]    
SHAREHOLDERS’ DEFICIT    
Common stock value 443 533
Common Class B [Member]    
SHAREHOLDERS’ DEFICIT    
Common stock value [2] 58 58
Related Party [Member]    
CURRENT ASSETS    
Amounts due from related parties 71,499 68,500
CURRENT LIABILITIES    
Short term loans 2,030,366
Nonrelated Party [Member]    
CURRENT LIABILITIES    
Short term loans $ 7,498,469 $ 2,179,047
[1] Including 13,282 shares issued but not outstanding, consisting of 7,032 forfeited Earnout Shares pending cancellation and 6,250 shares held as treasury stock reserved for future issuance, as discussed in Note 16.
[2] Par value of ordinary shares, and share data have been retrospectively restated to give effect to the reorganization, the 1-for-16 reverse stock split and the subsequent 1-for-80 reverse stock split that is discussed in Note 1.