Operating Segments

12 Months Ended

Dec. 31, 2022

Operating Segments [Abstract]

OPERATING SEGMENTS

10. OPERATING SEGMENTS

ASC 280, “Segment Reporting,” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the chief operating decision maker, reviews operation results by the revenue of different services.

For the year ended December 31, 2022, the Company had three business segments which were comprised of 1) the newly launched ETH staking business, 2) the newly launched GameFi business, and 3) the leasing of regional aircraft to foreign and domestic regional airlines. For the year ended December 31, 2021, the Company had one business segment which was the leasing of regional aircraft to foreign and domestic regional airlines.

The following tables present summary information of operations by segment for the year ended December 31, 2022.

	For the Year Ended December 31, 2022 (Successor)
	Staking			GameFi			Leasing
	Business			Business			Business			Total
Revenue and other income	$	1,800		$	326,800		$	1,598,800		$	1,927,400
Gross profit	$	(219,700	)	$	(234,300	)	$	1,598,800		$	1,144,800
Total operating expenses	$	(1,455,600	)	$	(2,407,100	)	$	(1,940,600	)	$	(5,803,300	)
Loss before income tax provision	$	(1,675,300	)	$	(2,641,400	)	$	(5,030,400	)	$	(9,347,100	)
Net loss	$	(1,675,700	)	$	(2,642,600	)	$	(4,979,900	)	$	(9,298,200	)

The following tables present total assets by segment as of December 31, 2022 and 2021:

	December 31,		December 31,
	2022		2021
ETH Staking Business	$	11,130,300	$	-
GameFi Business		-		6,788,900
Lease Business		1,431,700		3,472,100
Unallocated		-		4,688,600
	$	12,562,000	$	14,949,600