Acquisition of Funverse (Tables)

3 Months Ended

Mar. 31, 2024

Acquisition of Funverse (Tables) [Line Items]

Schedule of Reconciliation of the Fair Value of Major Classes of Assets Acquired and Liabilities

The following is a reconciliation of the fair value of major classes of assets acquired and liabilities assumed which comprised of net tangible liabilities on January 7, 2024.

	January 7,
	2024
ASSETS
Cash and cash equivalents	$	118,300
Accounts receivable		323,500
Prepayments		25,200
Prepaid expenses and other assets		359,400
Content assets		165,300
Total assets	$	991,700
LIABILITIES
Accounts payable	$	43,400
Contract liabilities		395,000
Other current liabilities and accrued expenses		1,019,700
Total liabilities	$	1,458,100
Net tangible liabilities	$	(466,400	)

(2) The copyrights and software are both applied to produce short dramas. The useful lives of these content assets are 12 months.

Asset Acquisition [Member]

Acquisition of Funverse (Tables) [Line Items]

Schedule of Reconciliation of the Fair Value of Major Classes of Assets Acquired and Liabilities

The following table summarizes the estimated fair values of the identifiable assets acquired at the acquisition date, which represents the net purchase price allocation at the date of the acquisition of FunVerse based on a valuation performed by an independent valuation firm engaged by the Company.

	January 7,
	2024
ASSETS
Net tangible liabilities (1)	$	(466,400	)
Copyrights (2)		581,000
Software (2)		1,048,200
Goodwill		2,889,200
Deferred tax liabilities		(277,000	)
Non-controlling interest		(1,510,000	)
Total purchase consideration	$	2,265,000

(1) The following is a reconciliation of the fair value of major classes of assets acquired and liabilities assumed which comprised of net tangible liabilities on January 7, 2024.

(2) The copyrights and software are both applied to produce short dramas. The useful lives of these content assets are 12 months.