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Other Income
12 Months Ended
Dec. 31, 2023
Other Income [Abstract]  
OTHER INCOME

NOTE 13 — OTHER INCOME

 

The Company entered into an agreement with a creditor of HBC to pay such creditor 3,000,000 KDC in exchange for the extinguishment of $232,207 in debt. The Company accounts for such non-cash consideration at the effective date of agreement in accordance with the non-cash consideration guidance included in FASB ASC Topic 470, Debt (“ASC 470”), and FASB ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). As a result, the Company recognized gain of settlement of debt of $232,207 for the year ended December 31, 2022.