Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Taxes Payable

Taxes recoverable (payable) consisted of the following at December 31, 2023 and 2022:

	2023			2022
Income tax receivable – current	$	-		$	-
Income tax payable - current		(1,150,105	)		(629	)
Income tax payable – noncurrent	$	(643,112	)	$	(1,157,603	)

Schedule of Components of Income Tax Expense (Benefit)

The (benefit) provision for income taxes on loss from continuing operations consisted of the following:

	2023		2022
Current:
Federal	$	-	$	-
State		2,400		2,400
Hong Kong		-		-
Malaysia		728,692		-
		731,092		2,400
Deferred:
Federal		-		-
State		-		-
Total provision (benefit) for income taxes	$	731,092	$	2,400

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the difference between the actual (benefit) provision for income taxes and the (benefit) provision computed by applying the federal statutory rate on income before income taxes from continuing operations:

	2023			2022
Tax at federal statutory rate	$	(1,468,355	)	$	(3,585,770	)
Foreign rate differential		607,758			(525,735	)
ASC 740-10 uncertain tax position		-			-
Tax exemption		-			-
Global Intangible Low-Taxed Income		-			-
Stock based compensation		66,045			90,645
Non-deductible Expenses		3,767,680
Others		(204,526	)		(85,279	)
Valuation allowance		(2,037,510	)		4,108,539
Total provision (benefit) for income taxes	$	731,092		$	2,400

Schedule of Aggregate Dollar Effects of the Company’s Tax Exemption

The following presents the aggregate dollar effects of the Company’s tax exemption from its continuing operations:

		2023		2022
Aggregate dollar effect of tax holiday	$	-	$	-

Schedule of Deferred Tax Assets And Liabilities

Deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred taxes are comprised of the following:

	2023			2022
Non-Current Deferred Tax Assets:
Accrued liabilities	$	15,898		$	28,130
Fed & CA amortization		9,832			13,511
Stock compensation		160,522			155,111
ASC 842 – lease liability		522,840			685,136
Inventory		-			6,898,892
U.S. NOL		4,213,883			4,323,465
Capital loss		734,766			733,461
Charitable Contribution		1,748			1,332
R&D Capitalization		3,658			2,063
Interest		3,587			5,058
Non-Current Deferred Tax Liabilities:
Prepaid expenses		(423	)		-
Fed & CA depreciation		(7,744	)		(3,405	)
ASC 842- ROU Asset		(506,280	)		(673,292	)
Net Non-Current Deferred Tax Assets before Valuation Allowance		5,152,289			12,169,462
Less: Valuation Allowance		(5,152,289	)		(12,169,462	)
Non-Current Deferred Tax Assets, Net:		-			-
Total Deferred Assets, Net:	$	-		$	-