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Gain on Disposal of Subsidiaries | 12 Months Ended
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Dec. 31, 2024
Gain on Disposal of Subsidiaries [Abstract] |
GAIN ON DISPOSAL OF SUBSIDIARIES | 8. GAIN ON DISPOSAL OF SUBSIDIARIES On November 1, 2022, pursuant to the disposition agreement, Takung Art Co., Ltd., Hong Kong Takung Art Company Limited (“Hong Kong Takung”) and Hong Kong MQ Group Limited (“Hong Kong MQ”, together with Hong Kong Takung, the “Targets”), the Company’s wholly owned subsidiaries, and Fecundity Capital Investment Co., Ltd. (the “Purchaser”), entered into a certain share purchase agreement (the “Disposition SPA”). Pursuant to the Disposition SPA, the Purchaser agreed to purchase the Targets in exchange for cash consideration of $1,500,000 (the “Purchase Price”). Upon the closing of the transaction (the “Disposition”) contemplated by the Disposition SPA, the legacy business is no longer with the Company after June 30, 2023. Net assets of the entities disposed and loss on disposal was as follows
|  | Hong Kong Takung |  |  | Hong Kong MQ |  |  | Total |
Total assets |  | $ | 3,593,849 |  |  | $ | - |  |  | $ | 3,593,849 |
Total liabilities |  |  | 8,662,466 |  |  |  | 623,596 |  |  |  | 9,286,062 |
Total net liabilities |  |  | (5,068,617 | ) |  |  | (623,596 | ) |  |  | (5,692,213 | )
Total accumulated other comprehensive income |  |  | 166,210 |  |  |  | 73,553 |  |  |  | 239,763 |
Loss from discontinued operations |  |  | 6,555 |  |  |  | 15,391 |  |  |  | 21,946 |
Subtotal |  |  | (4,895,852 | ) |  |  | (534,652 | ) |  |  | (5,430,504 | )
Total consideration |  |  |  |  |  |  |  |  |  |  | 1,500,000 |
Total gain on disposal of subsidiaries |  |  |  |  |  |  |  |  |  | $ | 6,930,504 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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- References No definition available. + Details
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