BUSINESS ACQUISITION (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

SCHEDULE OF BUSINESS ACQUISITION ASSETS ACQUIRED, AND LIABILITIES ASSUMED

The following table summarizes the purchase price allocation for TNM, and the amounts of the assets acquired, and liabilities assumed which were based on their estimated fair values at the acquisition date:

Cash	$	7,644
Accounts receivable, net		1,252,601
Advances to suppliers		75,971
Other receivables and other current assets, net		2,345,332
Long-term investments		1,386,191
Property and equipment		1,550,113
Right of use assets		74,812
Accounts payable		(339,198	)
Advances from customers		(10,943	)
Accrued payroll and benefits		(32,840	)
Amount due to related parties		(619,571	)
Other payables and accrued expenses		(87,373	)
Lease liabilities		(153,938	)
Total net assets acquired		5,448,801
Bargain purchase gain		(12,345	)
Total purchase price	$	5,436,456

SCHEDULE OF BUSINESS ACUISITION ASSETS ACQUIRED , AND LIABILITIES ASSUMED

The following table summarizes the purchase price allocation for ZJIOT, and the amounts of the assets acquired, and liabilities assumed which were based on their estimated fair values at the acquisition date:

Cash	$	4,116
Accounts receivable, net		260,189
Advances to suppliers		4,252
Other receivables, net		2,532
Property, plant and equipment, net		215,689
Accounts payable		(250,706	)
Advances from customers		(8,046	)
Accrued payroll and benefits		(10,633	)
Other payables and accrued expenses		(8,923	)
Total net assets acquired		208,470
Goodwill		58,922
Total purchase price	$	267,392