v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and Cash Equivalent $ 38,742 $ 607,869
Restricted cash 2,048
Accounts receivable, net 10,353,708 7,093,371
Other receivables 434,391 455,979
Prepaid expenses and other current assets 99,463 56,015
Total current assets 10,928,352 8,413,234
Non-current assets    
Deposit for acquisition target 2,000,000 2,000,000
Fixed assets, net 20,321 33,662
Software development costs, net 4,151,981 3,703,981
Intangible asset, net 25,000 41,667
Security deposits 10,351 10,351
Goodwill 6,592,304 6,592,304
Investments held in Trust Account 1,834,540
Total non-current assets 14,634,497 12,381,965
Total Assets 25,562,849 20,795,199
Current liabilities    
Bank loan-revolving credit line 3,249,067 2,996,753
Bank loan-current portion 774,095 742,141
Subordinated convertible promissory notes 3,333,335 3,333,335
Promissory notes 2,156,989 1,561,111
Accounts payable 3,552,674 2,066,760
Accrued liabilities 3,601,242 2,158,255
Income Tax Payable 12,500
Franchise tax payable 13,200
Excise tax payable 1,157,161
Deferred revenue 253,902
Total current liabilities 18,736,867 14,108,173
Long-term loan payable 146,798 146,798
Series A convertible preferred stock ($0.001 par value, 500,000 shares designated, 345,528 issued and outstanding) 1,294,117 1,294,117
Total non-current liabilities 1,440,915 1,440,915
Total Liabilities 20,177,782 15,549,088
Commitments and contingencies (Note 18)
Mezzanine Equity    
Common stock subject to possible redemption, $0.0001 par value, 173,879 shares at redemption value of approximately $11.03 per share at December 31, 2024 1,917,309
Stockholders’ Equity    
Preferred stock value
Common stock ($0.0001 par value, 70,000,000 shares authorized, 10,592,607 and 7,341,607 shares issued and outstanding) 1,059 1,028
Additional paid in capital 6,670,060 9,678,045
Accumulated deficit (3,203,361) (4,432,962)
Total Stockholders’ Equity 3,467,758 5,246,111
Total Liabilities and Stockholders’ Equity 25,562,849 20,795,199
Series B Convertible Preferred Stock [Member]    
Stockholders’ Equity    
Preferred stock value
Series C Convertible Preferred Stock [Member]    
Stockholders’ Equity    
Preferred stock value
Sponsor [Member]    
Current assets    
Note receivable - WAVS 200,000
Current liabilities    
Advance from Sponsor 330,000
Nonrelated Party [Member]    
Current liabilities    
Loans payable 408,516 408,516
Related Party [Member]    
Current liabilities    
Loans payable $ 148,088 $ 587,400