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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and Cash Equivalents $ 2,352 $ 69,688
Short-term loans receivable 338 131,080
Non-trade receivables 297
Prepaid expenses and other receivable 748
Current assets, discontinued operations 20,219,410
Total current assets 2,987 20,420,926
PROPERTY PLANT AND EQUIPMENT, NET 2,656 124,030
INTANGIBLE ASSETS, NET 4,940,000
OPERATING LEASE RIGHT-OF-USE ASSET 1,458,780
Total Assets 6,404,423 20,544,956
CURRENT LIABILITIES:    
Short-term loans payable 20,436
Short-term loans payable from related parties 349,607
Non-trade accounts payable 290,917
Accrued expenses and other current liabilities 7,379
Current liabilities, discontinued operations 7,476,491
Total current liabilities 668,339 7,476,491
Total Liabilities 668,339 7,476,491
Commitments and contingencies (Note 16)
STOCKHOLDER’SDEFICIT:    
Common Stock, $0.02 par value Authorized 110,000,000 (common:100,000,000, preferred:10,000,000) shares; Issued and outstanding 2,640,429 common shares and 2,640,429 common shares as of December 31, 2024 and December 31, 2023* [1] 52,809 52,809
Additional paid-in capital [1] 44,251,046 51,415,476
Accumulated deficit (37,901,301) (38,893,762)
Accumulated other comprehensive income (666,470) 493,942
Equity attributable to equity holder of the Company 5,736,084 13,068,465
Total Stockholders’ Equity 5,736,084 13,068,465
Total Liabilities and Stockholders’ Equity $ 6,404,423 $ 20,544,956
[1] On January 27, 2025, the Company effected a 1-for-20 reverse stock split of its issued and outstanding common shares. As a result of the reverse stock split, every 20 shares of the Company’s issued and outstanding common stock were combined into one share, reducing the total number of issued shares from 52,808,589 to 2,640,429.