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CONSOLIDATED SEGMENT DATA (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
SCHEDULE OF SEGMENT REPORTING | Selected information by segment is presented in the following tables for the year ended December 31, 2024, 2023, and 2022. SCHEDULE OF SEGMENT REPORTING
|  | 2024 |  |  | 2023 |  |  | 2022 |
Revenues(1) |  |  |  |  |  |  |  |  |  |  |  |
TIT Segment |  | $ | 85,145 |  |  | $ | 214,980 |  |  | $ | 235,128 |
CBT Segment |  |  | 36,587,367 |  |  |  | 38,420,655 |  |  |  | 23,998,335 |
|  | $ | 36,672,512 |  |  | $ | 38,635,635 |  |  | $ | 24,233,463 |
| (1) | Revenues by operating segments exclude intercompany transactions.
|  | 2024 |  |  | 2023 |  |  | 2022 |
(Loss) income from operations |  |  |  |  |  |  |  |  |  |  |  |
TIT Segment |  | $ | (87,794 | ) |  | $ | (110,113 | ) |  | $ | (617,180 | )
CBT Segment |  |  | 453,726 |  |  |  | 2,838,305 |  |  |  | (181,454 | )
Corporate and others(2) |  |  | (1,974,494 | ) |  |  | (2,925,890 | ) |  |  | (2,367,003 | )
(Loss) income from operations |  |  | (1,974,494 | ) |  |  | (2,925,890 | ) |  |  | (2,367,003 | )
(Loss) from operations |  |  | (1,608,562 | ) |  |  | (197,698 | ) |  |  | (3,165,637 | )
Corporate other income (loss), net |  |  | 261,621 |  |  |  | 552,058 |  |  |  | 3,201,613 |
Corporate interest income |  |  | 2,241 |  |  |  | 2,100 |  |  |  | 7,956 |
Corporate interest expense |  |  | (460,544 | ) |  |  | (580,630 | ) |  |  | (556,434 | )
(Loss) from operations |  |  | (460,544 | ) |  |  | (580,630 | ) |  |  | (556,434 | )
(Loss) before income taxes |  |  | (1,805,244 | ) |  |  | (224,170 | ) |  |  | (512,502 | )
Income tax (expense) benefit |  |  | (14,143 | ) |  |  | (7,980 | ) |  |  | (69,869 | )
Net (loss) from continuing operations |  |  | (1,819,387 | ) |  |  | (232,150 | ) |  |  | (582,371 | )
Net (loss) income from discontinued operations |  |  | - |  |  |  | (465,791 | ) |  |  | (6,499,276 | )
Net (loss) |  |  | (1,819,387 | ) |  |  | (697,941 | ) |  |  | (7,081,647 | )
Less: Loss (income) attributable to the non-controlling interest |  |  | - |  |  |  | - |  |  |  | - |
Net (loss) attributable to the Company |  | $ | (1,819,387 | ) |  | $ | (697,941 | ) |  | $ | (7,081,647 | )
| (2) | Includes non-cash compensation, professional fees and consultancy fees for the Company.
Non-cash compensation by segment for the year ended December 31, 2024, 2023, and 2022 are as follows:
|  | 2024 |  |  | 2023 |  |  | 2022 |
Non-cash compensation: |  |  |  |  |  |  |  |  |  |  |  |
Corporate and others |  |  | 956,400 |  |  |  | 1,564,000 |  |  |  | 23,100 |
Non-cash compensation |  | $ | 956,400 |  |  | $ | 1,564,000 |  |  | $ | 23,100 |
Depreciation and amortization by segment for the year ended December 31, 2024, 2023, and 2022 are as follows:
|  | 2024 |  |  | 2023 |  |  | 2022 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
TIT Segment |  | $ | 13,085 |  |  | $ | 43,832 |  |  | $ | 44,678 |
CBT Segment |  |  | 1,993,911 |  |  |  | 2,472,741 |  |  |  | 3,499,253 |
|  | $ | 2,006,996 |  |  | $ | 2,516,573 |  |  | $ | 3,543,931 |
TAOPING INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
|  | 2024 |  |  | 2023 |  |  | 2022 |
Provisions for allowance for credit losses on accounts receivable, other receivable and advances to suppliers: |  |  |  |  |  |  |  |  |  |  |  |
TIT Segment |  | $ | 3,996 |  |  | $ | 6,097 |  |  | $ | (43,741 | )
CBT Segment |  |  | 4,061,703 |  |  |  | 1,407,119 |  |  |  | 689,234 |
Corporate and others |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 4,065,699 |  |  | $ | 1,413,216 |  |  | $ | 645,493 |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Inventory obsolescence (reversal) provision: |  |  |  |  |  |  |  |  |  |  |  |
TIT Segment |  | $ | 913 |  |  | $ | 2,753 |  |  | $ | - |
CBT Segment |  |  | (15,223 | ) |  |  | (56,067 | ) |  |  | 63,716 |
|  | $ | (14,310 | ) |  | $ | (53,314 | ) |  | $ | 63,716 |
Total assets by segment as at December 31, 2024 and 2023 are as follows:
|  | 2024 |  |  | 2023 |
Total assets |  |  |  |  |  |  |  |
TIT Segment |  | $ | 84,501 |  |  | $ | 131,137 |
CBT Segment |  |  | 34,261,293 |  |  |  | 31,384,549 |
Corporate and others |  |  | 782,951 |  |  |  | 1,310,628 |
|  | $ | 35,128,745 |  |  | $ | 32,826,314 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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