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DECONSOLIDATION OF SUBSIDIARY (Tables)
 12 Months Ended
Dec. 31, 2024
Deconsolidation Of Subsidiary  
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.

 

      
Cash  $85,226 
Accounts receivable   164,744 
Advance to supplier-prepayment   317,557 
Advance to supplier-related party   466,914 
Due from related party   752,066 
Inventory   308,481 
Total current assets   2,094,988 
Fixed assets, net   74,158 
Intangible assets, net   12,914 
Right of use assets   207,995 
Total non-current assets   295,067 
Total assets   2,390,055 
      
Accounts payable  $41,503 
Accounts payable-related party   315,361 
Tax payable   13,225 
Due to related party-existing companies   103,939 
Customer deposits   45,074 
Accrued expense   135,087 
Facility lease liability-current   229,201 
Total current liabilities   883,390 
Facility lease liability-long term   81,506 
      
Total liabilities   964,896 

 

 

The following table shows the results of operations relating to discontinued operations Shuya for the years ended December 31, 2023, respectively.

 

   2023 
  

TWELVE MONTHS ENDED

DECEMBER 31,

No discontinued operations included

 
   2023 
     
Revenues  $8,419,619 
Cost of goods sold   7,790,200 
      
Gross profit   629,419 
      
Operating expenses     
Selling   352,954 
General and administrative   5,889 
      
Total operating expenses   358,843 
      
Income from operations   270,576 
      
Other income   2,501 
      
Income before income tax   273,077 
      
Income tax   22,173 
      
Income before noncontrolling interest   250,904 
      
Less: income attributable to noncontrolling interest   127,961 
      
Net gain to the Company  $122,943