Schedule of Components of Profit (Loss) Before Income Tax Benefits (Expenses) |
The components of profit (loss) before income
tax benefits (expenses) are summarized as follows:
| |
For the Years Ended December 31, | |
| |
2024 | | |
2023 | | |
2022 | |
PRC | |
$ | 3,233,722 | | |
$ | (11,527,235 | ) | |
$ | (1,243,361 | ) |
Non-PRC | |
| (3,171,966 | ) | |
| (449,764 | ) | |
| (1,306,645 | ) |
Total | |
$ | 61,756 | | |
$ | (11,976,999 | ) | |
$ | (2,550,006 | ) |
|
Schedule of Income Tax Benefits (Expenses) |
Income tax benefits (expenses) consist of the
following:
| |
For the Years Ended December 31, | |
| |
2024 | | |
2023 | | |
2022 | |
Current income tax expenses | |
$ | (47,518 | ) | |
$ | (69,467 | ) | |
$ | (138,188 | ) |
Deferred income tax (expenses) benefits | |
| (287,651 | ) | |
| 739,227 | | |
| (134,125 | ) |
Income tax (expenses) benefits | |
$ | (335,169 | ) | |
$ | 669,760 | | |
$ | (272,313 | ) |
|
Schedule of Deferred Tax Assets |
Deferred tax assets as of December 31, 2024 and
2023 consist of the following:
| |
December 31, 2024 | | |
December 31, 2023 | |
Deferred tax assets: | |
| | |
| |
Excess advertising expense | |
$ | - | | |
$ | 47,503 | |
Net operating loss carrying forward | |
| 1,706,177 | | |
| 1,049,699 | |
Share-based compensation | |
| 195,422 | | |
| 186,497 | |
Lease liabilities | |
| 21,281 | | |
| 109,499 | |
Others | |
| 25,249 | | |
| 26,727 | |
Less: Deferred tax liability | |
| (201,872 | ) | |
| (346,059 | ) |
Less: Valuation allowance on deferred tax assets | |
| (1,626,832 | ) | |
| (715,989 | ) |
Deferred tax assets, net | |
$ | 119,425 | | |
$ | 357,878 | |
Deferred tax liability | |
| | | |
| | |
Changes in fair value of short-term investments | |
| 22,879 | | |
| 137,546 | |
Upward adjustments in investments in an equity security | |
| (6,153 | ) | |
| 3,333 | |
Right-of-use assets | |
| 15,739 | | |
| 114,666 | |
Unbilled revenue | |
| 349,045 | | |
| 218,764 | |
Less: Deferred tax assets | |
| (201,872 | ) | |
| (346,059 | ) |
Deferred tax liability, net | |
$ | 179,638 | | |
$ | 128,250 | |
|