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v3.23.1

Property, Plant and Equipment, Net | 12 Months Ended
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Dec. 31, 2022
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, NET | Note 7 – PROPERTY, PLANT AND EQUIPMENT, NET As of December 31, 2022 and 2021, property, plant and equipment consisted of the following:
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Machinery equipment |  | $ | 7,524 |  |  | $ | 57,094 |
Electronic equipment |  |  | 17,784 |  |  |  | 19,724 |
Office equipment |  |  | 6,088 |  |  |  | 151 |
Buildings |  |  | 735,795 |  |  |  | 735,795 |
Total property, plant and equipment |  |  | 767,190 |  |  |  | 812,765 |
Less: accumulated depreciation |  |  | (62,547 | ) |  |  | (31,095 | )
Less: impairment loss |  |  | (6,599 | ) |  |  | - |
Translation adjustments |  |  | - |  |  |  | - |
Property, plant and equipment, net |  | $ | 698,044 |  |  | $ | 781,670 |
Depreciation expense for the years ended December 31, 2022, 2021 and 2020 was $62,547, $31,095 and $363,098, respectively. As of December 31, 2021 and 2020, certain property, plant and equipment with net book value of $55.25 and $6,174,867 were pledged as collateral under certain loan arrangements, respectively (also see Note 4). In connection with the discontinued operations of Tiandihui (see Note 4), such pledged assets were reclassified and included in the “non-current assets held for sales” as reflected in the consolidated balance sheets. As of December 31, 2021 and 2020, certain buildings with net book value of $552,529 and $5,890,975 were judicially seized by the court. In connection with the discontinued operations of Tiandihui (see Note 4), such pledged assets were reclassified and included in the “non-current assets held for sales” as reflected in the consolidated balance sheets.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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