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Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
TOTAL REVENUE [1] $ 38,635,635 $ 24,233,463 $ 19,390,579
TOTAL COST 29,783,354 17,003,414 12,719,125
GROSS PROFIT 8,852,281 7,230,049 6,671,454
Administrative expenses 5,600,578 6,149,981 11,638,691
Research and development expenses 2,967,043 3,606,653 4,479,045
Selling expenses 482,358 639,052 694,474
LOSS FROM OPERATIONS (197,698) (3,165,637) (10,140,756)
Subsidy income 292,797 148,577 181,620
Loss from equity method investment (8,031) (261,397) (814,440)
Other income (loss), net 267,292 3,314,433 (59,867)
Interest income 2,100 7,956 4,631
Interest expense and debt discounts expense (580,630) (556,434) (928,352)
Loss before income taxes (224,170) (512,502) (11,757,164)
Income tax (expense) benefit (7,980) (69,869) (5,321)
Net (loss) from continuing operations (232,150) (582,371) (11,762,485)
Net (loss) income from discontinued operations (465,791) (6,499,276) 1,837,626
NET LOSS (697,941) (7,081,647) (9,924,859)
Less: net loss attributable to the non-controlling interest
NET LOSS ATTRIBUTABLE TO THE COMPANY $ (697,941) $ (7,081,647) [2] $ (9,924,859) [2]
(Loss) income per share - Basic and Diluted*      
Basic [3] $ (0.12) $ (0.37) $ (8.89)
Diluted [3] (0.12) (0.37) (8.89)
DISCONTINUED OPERATIONS      
Basic [3] (0.24) (4.10) 1.39
Diluted [3] (0.24) (4.10) 1.39
LOSS PER SHARE ATTRIBUTABLE TO THE COMPANY*      
Basic [3] (0.36) (4.47) [2] (7.50) [2]
Diluted [3] $ (0.36) $ (4.47) [2] $ (7.50) [2]
Product [Member]      
TOTAL REVENUE $ 24,073,593 $ 12,135,570 $ 10,651,928
TOTAL COST 21,389,832 11,125,855 9,890,346
Products Related Parties [Member]      
TOTAL REVENUE 165,520 117,995 72,779
Advertising [Member]      
TOTAL REVENUE 5,001,695 5,397,610 2,577,712
TOTAL COST 3,945,211 3,746,585 2,193,945
Advertising Related Parties [Member]      
TOTAL REVENUE 11,901
Software [Member]      
TOTAL REVENUE 8,792,781 4,820,454 5,174,422
TOTAL COST 4,145,233 665,846 582,490
Software Related Parties [Member]      
TOTAL REVENUE 6,021
Product and Service, Other [Member]      
TOTAL REVENUE 596,025 1,729,847 837,660
TOTAL COST 303,078 1,465,128 11,469
Other Related Parties [Member]      
TOTAL REVENUE 20,086 76,078
System Integration [Member]      
TOTAL COST $ 40,875
[1] Revenues by operating segments exclude intercompany transactions.
[2] On August 1, 2023, the Company implemented a one-for-ten reverse stock split of the Company’s issued and outstanding ordinary shares. Except shares authorized, all share and per share information has been retroactively adjusted to give effect to the reverse stock split for all periods presented, unless otherwise indicated.
[3] On August 1, 2023, the Company implemented a one-for-ten reverse stock split of the Company’s issued and outstanding ordinary shares. Except shares authorized, all references to number of shares, and to per share information in the consolidated financial statements have been retroactively adjusted.