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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
SCHEDULE OF ESTIMATED USEFUL LIVES

 

Furniture and fixtures  3 to 5 years
SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES ACQUIRED

 

Fair value of non-controlling interests  $650,951 
Fair value of previously held equity investment   556,096 
Subtotal  $1,207,047 
Recognized value of 100% of identifiable net assets   (1,207,047)
Goodwill Recognized  $- 
Recognized amounts of identifiable assets acquired and liabilities assumed (preliminary):     
Inventories  $516,131 
Cash and cash equivalents   50,346 
Trade and other receivables   952,384 
Advanced deposit   672,597 
Net fixed assets   6,704 
Trade and other payables   (1,021,897)
Advanced payments   (5,317)
Salaries and wages payables   (4,692)
Other receivable   40,791 
Total identifiable net assets  $1,207,047 
SCHEDULE OF FINANCIAL DATA

Selected Financial Data:

 

   2024   2023 
   For the six months ended June 30, 
   2024   2023 
Net Sales          
Manufacturing and Engineering  $9341   $36,332 
Heat Recovery Solutions   120,874    28,338 
NG Trading   1,219,629    2,796,649 
Waste to Energy   359,307    412,682 
Discontinued operations   -    4,422,400 
Total Sales  $1,709,151   $7,696,401 
           
Segment income and reconciliation before tax          
Manufacturing and Engineering   7,806    18,355 
Heat Recovery Solutions   79,889    30 
LNG Trading   

9,853

    40,293 
Waste to Energy   331,487    385,404 
Total Segment income   429,035    444,082 
Less: operating expense   (2,221,990)   (1,498,702)
Less: other income and expenses   (458,323)   (813,543)
Net (loss) before income tax  $(2,251,278)  $(1,868,163)

 

 

   June 30, 2024   December 31, 2023 
Total Assets          
Manufacturing and Engineering  $2,801,567   $2,544,786 
Heat Recovery Solutions   3,222,939    3,099,223 
Waste to Energy   830,956    486,572 
LNG Trading   2,457,449    4,798,030 
Total Assets  $9,312,911   $10,928,611 

 

The following table represents revenue by geographic area based on the sales location of our products and solutions:

 

   2024   2023 
   For the six months ended June 30, 
   2024   2023 
United States   482,435    449,014 
China (include discontinued operation: $4,422,400)   1,219,629    7,219,049 
Other international   7,087    28,338 
Total Sales   1,709,151    7,696,401