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DECONSOLIDATION (Tables)
 3 Months Ended
Mar. 31, 2024
Deconsolidation  
SCHEDULE OF CARRYING VALUE OF ASSETS AND LIABILITIES AND RESULTS OF OPERATIONS TO DISCONTINUED OPERATIONS

The following table summarizes the carrying value of the assets and liabilities of Shuya at December 31, 2023.

 

 SCHEDULE OF CARRYING VALUE OF ASSETS AND LIABILITIES AND RESULTS OF OPERATIONS TO DISCONTINUED OPERATIONS

      
Cash  $85,226 
Accounts receivable   164,744 
Advance to Supplier-Prepayment   317,557 
Advance to Supplier-Related Party   463,621 
Due from related party   752,066 
Inventory   308,481 
Total current assets   

2,091,695

 
Fixed assets, net   74,158 
Intangible assets, net   12,914 
Right of use asset   207,995 
Total non-current assets   

295,067 

 
Total assets   2,386,762 
      
Accounts payable  $41,503 
Accounts payable-related party   328,587 
Customer Deposits   45,074 
Accrued Expense   135,087 
Facility Lease liability-current   229,201 
Total current liabilities   

779,452

 
Facility Lease liability-long term   81,506 
      
Total liabilities   860,958 

  

 

The following table shows the results of operations relating to discontinued operations Shuya for the three months ended March 31, 2024 and 2023, respectively. 

 

 

   2024   2023 
   THREE MONTHS ENDED
MARCH 31,		 
   2024   2023 
         
Revenues  $-   $2,345,138 
Cost of goods sold   -    2,204,056 
           
Gross profit   -    141,082 
           
Operating expenses          
Selling   -    59,680 
General and administrative   -    5,624 
           
Total operating expenses   -    65,304 
           
Income from operations   -    75,778 
    -    - 
Other income   -    72 
           
Income before income tax   -    75,850 
           
Income tax   -    (1,295)
           
Income before noncontrolling interest   -    74,555 
           
Less: income attributable to noncontrolling interest   -    38,023 
           
Net gain to the Company  $-   $36,532