v3.25.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (2,019,811) $ (2,306,806) $ (13,653,340) $ (7,338,171)
Adjustments to reconcile net income to net cash used in operating activities:        
Depreciation expense 39,860 39,860 159,439 164,942
Provision (recovery) for credit losses 23,283 (10,215) 408,569 907,021
Amortization of operating right-of-use asset 114,226 60,079 376,361 371,739
Amortization of debt issuance cost 53,303 121,149 72,807
Deferred taxes benefits     215,937
Gain (Loss) on loan extinguishment (40,000) 8,417 233,450
Loss on early termination of right-of-use asset     33,423
Loss on disposal of fixed assets     17,219
Stock compensation expenses 84,936 171,897 1,413,458
Non cash finance expense 1,000,000 1,000,000
Goodwill impairment loss     1,023,533
Inventory impairment loss     2,315,209 1,269,469
Change in operating assets and liabilities:        
Accounts receivable 305,254 430,906 (1,672,144) 245,007
Inventories 911,468 395,420 952,291 2,486,509
Prepayments and other current assets 29,130 (12,787) (11,697) (6,084)
Prepayments - related parties     13,304
Security deposit (40,748) 20,000 (381,000) 19,088
Accounts payable (910,664) (680,577) 2,609,342 (1,148,473)
Other payables and accrued liabilities 979,496 5,406 437,872 852,662
Accrued interest payable - related parties 2,579 15,508 101,571 63,141
Operating lease liabilities (12,656) (31,791) (393,362) (428,883)
Tax accrual (22,111) 26,183 160,746 (58,559)
Deferred income - Contract liabilities (91,716) 103,495 112,348 (689,209)
Net cash used in operating activities (594,171) (773,422) (5,934,771) (1,680,128)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Deposit from investment of Future Tech (300,000)    
Loan to related parties     (570,000)
Loan to Lakeshore (40,000) (40,000)
Loan repayment from third parties     132,913
Net cash used in investing activities (300,000) (40,000) (40,000) (437,087)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from the reverse recapitalization 1,120,177 1,120,177
Payments of transaction costs incurred by Lakeshore (1,044,980) (1,044,980)
Repayments of promissory note - related party of Lakeshore (75,000) (75,000)
Shares and warrants issued through July public offering     1,004,000
Shares and warrants issued through November public offering     2,304,953
Proceeds from exercise of warrants 865,423 451,433
Payments of deferred offering costs (266,925) (266,925) (438,932)
Long-term loan borrowing     3,338,546
Repayments on long-term loan (58,053) (64,588) (269,119) (167,830)
Short-term loan borrowing from third parties 447,555 1,405,000 4,915,984 608,312
Repayments on short-term loan from third parties (483,758) (181,950) (2,850,239) (1,858,591)
Short-term loan borrowing from related parties     773,255
Repayments on short-term loan from related parties (150,000) (50,000) (700,000)
Convertible notes borrowing 115,000 1,197,500
Repayments on convertible notes (264,870) (272,920)
Borrowings from other payables - related parties 20,000 38,184 1,558
Payments on other payables - related parties     (30,000) (28,501)
Net cash provided by financing activities 491,297 891,734 6,173,048 1,527,817
EFFECT OF FOREIGN EXCHANGE ON CASH 395 50 94 787
CHANGES IN CASH (402,479) 78,362 198,371 (588,611)
CASH AND CASH EQUIVALENTS, beginning of period 420,131 221,760 221,760 810,371
CASH AND CASH EQUIVALENTS, end of period 17,652 300,122 420,131 221,760
SUPPLEMENTAL CASH FLOW INFORMATION:        
Cash paid for income tax 1,700 2,621 3,315 4,221
Cash paid for interest 286,593 286,358 1,276,757 768,221
SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTIONS:        
Right of use assets acquired under new operating leases     398,788 46,284
Cost method investment converted from accounts receivable     1,000,000
Derecognition of early termination of right-of-use asset     144,602
Derecognition of early termination of operating lease liabilities     152,179
Reduce of right-of-use asset and operating lease liabilities based on modification 54,800 54,800
Accumulated deficit acquired upon the reverse recapitalization 1,603,020 1,732,630
Deferred offering cost converted to APIC upon the reverse recapitalization $ 1,100,857 1,100,857
Loan to related parties offset with other payables per agreement     110,000
Debt-to-equity conversion     1,500,000
Forgiveness of related party's debt     $ 2,135,573