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Segment Reporting | 6 Months Ended
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Jun. 30, 2022
Segment Reporting [Abstract] |
SEGMENT REPORTING | NOTE 18 – SEGMENT REPORTING ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the chief operating decision maker, reviews operation results by the revenue of different products or services. Based on management’s assessment, the Company has determined that it has four operating segments as defined by ASC 280, including machinery and equipment, construction material, municipal construction projects, and other services. Construction material segment manufactures and sells eco-friendly construction material. Machinery and equipment segment manufactures and sells machinery and equipment used to manufacture construction material. Construction service segment generates revenue from contracting municipal construction projects. Other services segment generates revenue from providing roadside assistance services and software development services to customers. The following table presents summary information by segments for the Company’s continuing operations for the six months ended June 30, 2022 and 2021, respectively:
|  | Machinery and Equipment sales |  |  | Construction materials sales |  |  | Municipal construction projects |  |  | Other services |  |  | Total |
Revenue |  | $ | 2,027,806 |  |  |  | 320,779 |  |  |  | 111,014 |  |  |  | 430,180 |  |  |  | 2,889,779 |
Cost of goods sold |  |  | 1,792,470 |  |  |  | 461,857 |  |  |  | 45,286 |  |  |  | 215,361 |  |  |  | 2,514,974 |
Gross profit (loss) |  |  | 235,336 |  |  |  | (141,078 | ) |  |  | 65,728 |  |  |  | 214,819 |  |  |  | 374,805 |
Interest expense and charges |  |  | 102,531 |  |  |  | 35,580 |  |  |  | 4,417 |  |  |  | 47,227 |  |  |  | 189,755 |
Interest income |  |  | 1,899 |  |  |  | 43 |  |  |  | 44 |  |  |  | 307 |  |  |  | 2,293 |
Depreciation and amortization |  |  | 70,724 |  |  |  | 373,873 |  |  |  | 1,257 |  |  |  | 88,311 |  |  |  | 534,165 |
Capital expenditures |  |  | (6,696 | ) |  |  | 0 |  |  |  | - |  |  |  | 173,535 |  |  |  | 166,839 |
Income tax expenses |  |  | - |  |  |  | - |  |  |  | 10,013.00 |  |  |  | 18,754.00 |  |  |  | 28,767.00 |
Segment loss |  |  | (3,692,157 | ) |  |  | (821,405 | ) |  |  | (30,046 | ) |  |  | (1,225,237 | ) |  |  | (5,768,846 | )
Segment assets as of June 30, 2022 |  | $ | 14,785,402 |  |  |  | 13,177,842 |  |  |  | 79,016 |  |  |  | 5,855,663 |  |  |  | 33,897,923 |
|  | Machinery and Equipment sales |  |  | Construction materials sales |  |  | Municipal construction projects |  |  | Other services |  |  | Total |
Revenue |  | $ | 1,146,818 |  |  |  | 608,014 |  |  |  | - |  |  |  | - |  |  |  | 1,754,832 |
Cost of goods sold |  |  | 933,205 |  |  |  | 703,494 |  |  |  | - |  |  |  | - |  |  |  | 1,636,699 |
Gross profit |  |  | 213,612 |  |  |  | (95,479 | ) |  |  | - |  |  |  | - |  |  |  | 118,133 |
Interest expense and charges |  |  | 157,695 |  |  |  | 18,322 |  |  |  | 119,528 |  |  |  | - |  |  |  | 295,545 |
Interest income |  |  | 1,410 |  |  |  | 23 |  |  |  | 33 |  |  |  | - |  |  |  | 1,466 |
Depreciation and amortization |  |  | 76,429 |  |  |  | 300,555 |  |  |  | 440 |  |  |  | - |  |  |  | 377,424 |
Capital expenditures |  |  | 39,887 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 39,887 |
Income tax expenses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 0 |
Segment loss |  |  | (4,868,167 | ) |  |  | (1,547,591 | ) |  |  | (900,161 | ) |  |  | - |  |  |  | (7,315,919 | )
Segment assets as of June 30, 2021 |  | $ | 9,162,607 |  |  |  | 44,730,680 |  |  |  | 99,358 |  |  |  | 1,251 |  |  |  | 53,993,896 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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