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Consolidated Balance Sheets - USD ($)
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash $ 131,877,059 $ 25,341
VAT receivable 169,824 165,629
Advance to supplier 65,214,994
Short term loan receivables 55,660,132
Other receivables 88,267 49,747
Total current assets 132,135,150 121,115,843
NON-CURRENT ASSETS    
Right-of-use asset, net 74,626 115,068
Intangible Asset, net 763,693 3,875
Total non-current assets 838,319 118,943
TOTAL ASSETS 132,973,469 121,234,786
CURRENT LIABILITIES    
Accounts payable 120,078 68,003
Contract liabilities 105,352
Taxes payable 7,631,151 4,276,597
Accrued interest on notes 2,658 69,103
Notes payable, net of unamortized OID of $0 and $31,250, respectively 3,031,656 4,705,696
Accrued liabilities and other payables 3,004,829 3,166,486
Lease liability 60,533 58,529
Payable for purchase of 10% equity interest of Zhonghong 421,408 410,998
Interest payable on entrusted loans 347,591 341,129
Total current liabilities 14,725,256 13,096,541
NONCURRENT LIABILITIES    
Income tax payable 3,350,625
Lease liability 29,490 56,539
Total noncurrent liabilities 29,490 3,407,164
Total liabilities 14,754,746 16,503,705
CONTINGENCIES AND COMMITMENTS
STOCKHOLDERS’ EQUITY    
Common stock, $0.001 par value; 100,000,000 shares authorized, 24,491,069 and 7,391,996 shares issued and outstanding 35,081 9,161
Additional paid in capital 178,825,164 165,959,857
Statutory reserve 15,191,645 15,191,645
Accumulated other comprehensive loss (11,347,134) (14,373,199)
Accumulated deficit (64,486,033) (62,056,383)
Total stockholders’ equity 118,218,723 104,731,081
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 132,973,469 $ 121,234,786