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Discontinued operations | 12 Months Ended
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Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued operations | Note 5 — Discontinued operations On August 11, 2023, the Company discontinued its SaaS services in the Mainland of China. On August 11, 2023, Infobird Co., Ltd, a Cayman Island exempted company (the “Company”), entered into an equity transfer agreement (the “Agreement”) with CRservices Limited (“CRservices”), a Mahé Island limited company and a shareholder of the Company, pursuant to which, the Company agreed to sell all the issued shares of Infobird HK, a limited company incorporated under the laws of Hong Kong and a wholly owned subsidiary of the Company, for a consideration of HK$10,000. On the same day, the Company discontinued its SaaS services in the Mainland of China. As a result, the result of operations for the Company’s Mainland SaaS services business are reported as discontinued operations under the guidance of ASC 205. Reconciliation of the amounts of major classes of income and losses from discontinued operations in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2024, 2023 and 2022.
Schedule of income and losses from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Year Ended
|  | December 31, |  | December 31, |  | December 31,
|  | 2024 |  | 2023 |  | 2022
REVENUES |  | $ | — |  |  | $ | 2,589,823 |  |  | $ | 5,505,734 |
COST OF REVENUES |  |  | — |  |  |  | 1,603,887 |  |  |  | 3,527,402 |
GROSS PROFIT |  |  | — |  |  |  | 985,936 |  |  |  | 1,978,332 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |
Selling |  |  | — |  |  |  | 607,424 |  |  |  | 3,368,714 |
General and administrative |  |  | — |  |  |  | 954,576 |  |  |  | 6,142,730 |
Research and development |  |  | — |  |  |  | 922,343 |  |  |  | 3,323,361 |
Long-live assets impairment |  |  | — |  |  |  | 2,602,589 |  |  |  | 2,631,019 |
Total operating expenses |  |  | — |  |  |  | 5,086,932 |  |  |  | 15,465,824 |
LOSS FROM OPERATIONS |  |  | — |  |  |  | (4,100,996 | ) |  |  | (13,487,492 | )
OTHER INCOME (EXPENSE) |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | — |  |  |  | 1,296 |  |  |  | 2,994 |
Interest expense |  |  | — |  |  |  | (33,682 | ) |  |  | (1,450,707 | )
Other (expense) income, net |  |  | — |  |  |  | (154,275 | ) |  |  | 1,206,793 |
Total other income (expense), net |  |  | — |  |  |  | (186,661 | ) |  |  | (240,920 | )
LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES |  |  | — |  |  |  | (4,287,657 | ) |  |  | (13,728,412 | )
GAIN ON THE SALE OF DISCONTINUED OPERATIONS BEFORE INCOME TAXES |  |  | — |  |  |  | 22,858,286 |  |  |  | — |
TOTAL INCOME(LOSS) FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES |  |  | — |  |  |  | 18,570,629 |  |  |  | (13,728,412 | )
INCOME TAX EXPENSE(BENEFIT) |  |  | — |  |  |  | — |  |  |  | (77,649 | )
INCOME(LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX |  |  | — |  |  |  | 18,570,629 |  |  |  | (13,650,763 | )

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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