XML 155 R14.htm IDEA: XBRL DOCUMENT v3.24.3
Contract Liabilities
 6 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Contract Liabilities [Abstract]    
CONTRACT LIABILITIES

NOTE 8 — CONTRACT LIABILITIES

 

Contract liabilities consist of the following:

 

   June 30,   December 31, 
   2024   2023 
Balance at beginning of period  $7,937   $1,360,168 
Additions   37,592    112,006 
Recognized to revenue during the period   (7,937)   (122,662)
Refund to customers (Note 1)   
—
    (1,341,575)
Balance at end of period  $37,592   $7,937 

 

Note 1: Refund of the deposits received from customer for services not rendered during 2023. China-based clients who prepaid for surrogacy and ancillary caring services requested refund of fees so such clients can appoint their own surrogate mothers in countries in which the Company does not conduct business. The Company sent the funds to accounts dictated by the clients and terminated service contract with those clients.

NOTE 8 — CONTRACT LIABILITIES

 

Contract liabilities consist of the following:

 

   December 31, 
   2023   2022 
Balance at beginning of year  $1,360,168   $812,158 
Additions   112,006    1,360,168 
Recognized to revenue during the year   (122,662)   (812,158)
Refund to customers (Note 1)   (1,341,575)   - 
Balance at end of year  $7,937   $1,360,168 

 

Note 1:Refund of the deposits received from customer for services not rendered during 2023. China-based clients who prepaid for surrogacy and ancillary caring services requested refund of fees so such clients can appoint their own surrogate mothers in countries in which the Company does not conduct business. The Company sent the funds to accounts dictated by the clients and terminated service contract with those clients.