v3.25.1
Consolidated Statements of Cash Flows
12 Months Ended
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Cash flows from operating activities:      
Net profit/(loss) from continuing operations $ 6,296,515 $ (1,704,994) $ (9,641,098)
Net profit/(loss) from discontinued operations 6,908,558 (712,414)
Adjustments to reconcile net loss to net cash used in operating activities:      
Changes in exchange rate (13,417)
Non-marketable investment impairment 9,296,754
Bad debt expenses 5,557
(Gain)/Loss on change of fair value of warrant liability (6,638,916) 1,736,512
Changes in operating assets and liabilities (decrease)/increase in - continuing operations:      
Other current assets 390,705 (656,373)
Loan receivables 800,000 (800,000)
Accrued expenses and other payables (2,237,103) (334,692) 2,100,225
Advances from customer 45,173 1,600,769 2,705,750
Net changes in operating assets and liabilities (decrease)/increase - discontinued operations (7,066,731) 343,507
Net cash provided by/(used in) operating activities-continuing operations (1,338,069) (158,778) 4,448,214
Net cash provided by/(used in) operating activities-discontinued operations (158,173) (368,907)
Net cash provided by/(used in) operating activities (1,338,069) (316,951) 4,079,307
Cash flows from investing activities:      
Proceeds from disposal of property and equipment 1,401
Disposal of subsidiaries, net of cash 265,668
Net cash provided by investing activities-continuing operations 265,668 1,401
Net cash provided by investing activities-discontinued operations 61,376 127,805
Net Cash provided by investing activities 327,044 129,206
Cash flows from financing activities:      
(Repayment)/Proceeds from a short-term borrowing from a third party, net (1,550,000) 1,550,000
Proceeds from a private placement 21,904,912 60,000,007
Net cash provided by/(used in) financing activities-continuing operations 21,904,912 (1,550,000) 61,550,007
Net cash provided by financing activities-discontinued operations
Net cash provided by/(used in) financing activities 21,904,912 (1,550,000) 61,550,007
Effect of exchange rate change on cash and cash equivalents, and restricted cash from continuing operations (2,337)
Effect of exchange rate change on cash and cash equivalents, and restricted cash from discontinued operations (643)
Effect of exchange rate change on cash and cash equivalents, and restricted cash (2,980)
Net change in cash and cash equivalents, and restricted cash from continuing operations 20,566,843 (1,443,110) 65,997,285
Net change in cash and cash equivalents, and restricted cash from discontinued operations   (96,797) (241,745)
Net change in cash and cash equivalents, and restricted cash 20,566,843 (1,539,907) 65,755,540
Cash and cash equivalents, and restricted cash beginning balance from continuing operations 66,057,328 67,500,438 1,503,153
Cash and cash equivalents, and restricted cash beginning balance from discontinued operations 96,797 338,542
Cash and cash equivalents, and restricted cash beginning balance 66,057,328 67,597,235 1,841,695
Cash and cash equivalents, and restricted cash ending balance from continuing operations 86,624,171 66,057,328 67,500,438
Cash and cash equivalents, and restricted cash ending balance from discontinued operations 96,797
Cash and cash equivalents, and restricted cash ending balance 86,624,171 66,057,328 67,597,235
Cash flow reclassification - continuing operations (1,138,811)
Cash flow reclassification - discontinued operations 1,138,811
Cash and cash equivalents-continuing operations 82,272,479 61,750,809 63,655,877
Restricted cash-continuing operations 4,351,692 4,306,519 2,705,750
Total cash and cash equivalents -continuing operations 86,624,171 66,057,328 66,361,627
Cash and cash equivalents-discontinued operations 1,235,608
Restricted cash – discontinued operations
Total cash, cash equivalents and restricted cash – discontinued operations 1,235,608
Total cash, cash equivalents, and restricted cash 86,624,171 66,057,328 67,597,235
Supplemental cash flows information:      
Cash received from interest-continuing operations $ 227,468 $ 1,005,431
March 1, 2024 [Member]      
Supplemental cash flows information:      
Warrants Exercised Cashless (in Shares) | shares 21,501,710    
February 13, 2024 [Member]      
Supplemental cash flows information:      
Warrants Exercised Cashless (in Shares) | shares 14,532,865    
June 17, 2024 [Member]      
Supplemental cash flows information:      
Warrants Exercised Cashless (in Shares) | shares 489,880    
July 9, 2024 [Member]      
Supplemental cash flows information:      
Warrants Exercised Cashless (in Shares) | shares 979,770