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Disposal of Subsidiaries and Discontinued Operations (Tables) | 12 Months Ended
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Dec. 31, 2024
Disposal of Subsidiaries and Discontinued Operations [Abstract] |
Schedule of Disposal of Subsidiaries and Discontinued Operations | The following table outlines the calculation of the gain on disposal related to the sale of the subsidiaries on November 5, 2024, and December 28, 2024.
|  | As of December 28, 2024 |
Consideration received (sale price) |  | $ | 3,300 |
The carrying amount of any noncontrolling interest |  |  | — |
Net liabilities |  |  | 11,502,964 |
foreign exchange difference |  |  | 894,109 |
Gain on disposal of subsidiaries |  | $ | 12,400,373 |
The financials of the three companies for the years ended December 31, 2024 and December 31, 2023 are as follows.
|  | December 31, 2024 |  |  | December 31, 2023 |
CURRENT ASSETS: |  | $ | 39,653,805 |  |  | $ | 17,415,555 |
Cash and Cash Equivalents |  |  | 1,408 |  |  |  | 5,358,142 |
Short-term loans |  |  | 26,550,250 |  |  |  | 3,658,820 |
Accounts receivable, net of allowance |  |  | 5,971,432 |  |  |  | 324,413 |
Non-trade receivables |  |  | 24,320 |  |  |  | 171,893 |
Prepaid expenses and other receivables |  |  | 7,106,395 |  |  |  | 7,902,287 |
PROPERTY PLANTAND EQUIPMENT, NET |  |  | 247,188 |  |  |  | 505,155 |
Operating lease right-of-use asset |  |  | — |  |  |  | 1,918,966 |
Other Asset |  |  | 216,258 |  |  |  | 379,735 |
Total Assets |  | $ | 40,117,251 |  |  | $ | 20,219,411 |
CURRENT LIABILITIES: |  | $ | 51,620,215 |  |  | $ | — |
Short-term borrowings |  |  | 40,248,754 |  |  |  | 1,589,887 |
Non-trade accounts payable |  |  | 8,211,344 |  |  |  | 2,312,669 |
Bonds with Warrants |  |  | 3,061,224 |  |  |  | 3,489,995 |
Accrued expenses and other current liabilities |  |  | 98,893 |  |  |  | 83,940 |
Total Liabilities |  | $ | 51,620,215 |  |  | $ | 7,476,491 |
Total Stockholder’s Equity (Deficiency) |  | $ | (11,502,964 | ) |  | $ | 12,742,920 |
|  | December 31, 2024 |  |  | December 31, 2023 |
Sales |  |  | 196 |  |  |  | 827,489 |
Cost of Revenue |  |  | — |  |  |  | 79,097 |
Gross profit (Loss) |  | $ | 196 |  |  | $ | 748,392 |
OPERATING EXPENSES: |  |  | 1,489,006 |  |  |  | 10,483,401 |
OPERATING LOSS |  |  | (1,488,810 | ) |  |  | (9,735,009 | )
OTHER INCOME(EXPENSE): |  |  | 100,492 |  |  |  | (2,178,706 | )
Net loss before taxes |  |  | (1,338,318 | ) |  |  | (7,556,303 | )
Income tax expense |  |  | — |  |  |  | — |
NET INCOME(LOSS) |  | $ | (1,338,318 | ) |  | $ | (7,556,303 | )

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