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Condensed Consolidated Statements of Loss and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
NET REVENUE        
Net revenue $ 2,242,365 $ 5,865,615 $ 5,932,596 $ 23,173,404
OPERATING INCOME (EXPENSE)        
Cost of net revenue (4,071,616) (6,373,902) (11,303,519) (20,464,418)
Sales and marketing expenses (13,484) (14,428) (31,608) (42,850)
Direct labor and factory overheads incurred during plant shutdown (1,736,345) (1,007,689) (7,185,537) (4,471,954)
General and administrative expenses (1,002,529) (762,884) (2,409,957) (2,266,260)
Other operating income (loss) 60,134
TOTAL OPERATING COSTS AND EXPENSE  (6,823,974) (8,158,903) (20,930,621) (27,185,348)
PROFIT (LOSS) FROM OPERATIONS (4,581,609) (2,293,288) (14,998,025) (4,011,944)
OTHER INCOME (EXPENSE)        
Interest expense (21,191) (23,791) (70,835) (81,322)
Interest income 6,220 57,758 77,071 201,127
Other expenses (income) 0 0 (29,173,011) 0
INCOME(LOSS) BEFORE TAXES (4,596,580) (2,259,321) (44,164,800) (3,892,139)
INCOME TAX BENEFIT (EXPENSE) 1,103,697 483,524 3,581,867 876,779
NET PROFIT (LOSS) (3,492,883) (1,775,797) (40,582,933) (3,015,360)
OTHER COMPREHENSIVE (LOSS) INCOME        
- Foreign currency translation adjustments 3,102,876 2,247,978 1,859,755 (7,879,513)
TOTAL COMPREHENSIVE  (LOSS) INCOME $ (390,007) $ 472,181 $ (38,723,178) $ (10,894,873)
BASIC AND DILUTED EARNINGS (LOSS) PER SHARE: $ (0.33) $ (0.17) $ (3.78) $ (0.29)
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES: 10,726,924 10,431,924 10,726,924 10,431,924