v3.25.2
Acquisition of Funverse (Tables)
 3 Months Ended
Mar. 31, 2025
Acquisition of Funverse [Line Items]  
Schedule of Reconciliation of the Fair Value of Major Classes of Assets Acquired and Liabilities Assumed The following is a reconciliation of the fair value of major classes of assets acquired and liabilities assumed which comprised of net tangible liabilities on January 7, 2024.
   January 7, 
   2024 
ASSETS    
Cash and cash equivalents  $118,300 
Accounts receivable   323,500 
Prepayments   25,200 
Prepaid expenses and other assets   359,400 
Content assets   165,300 
Total assets  $991,700 
LIABILITIES     
Accounts payable  $43,400 
Contract liabilities   395,000 
Other current liabilities and accrued expenses   1,019,700 
Total liabilities  $1,458,100 
      
Net tangible liabilities  $(466,400)
Asset Acquisition [Member]  
Acquisition of Funverse [Line Items]  
Schedule of Reconciliation of the Fair Value of Major Classes of Assets Acquired and Liabilities Assumed The following table summarizes the estimated fair values of the identifiable assets acquired at the acquisition date, which represents the net purchase price allocation at the date of the acquisition of FunVerse based on a valuation performed by an independent valuation firm engaged by the Company.
   January 7, 
   2024 
ASSETS    
Net tangible liabilities (1)  $(466,400)
Copyrights (2)   581,000 
Software (2)   1,048,200 
Goodwill   2,889,200 
Deferred tax liabilities   (277,000)
Non-controlling interest   (1,510,000)
Total purchase consideration  $2,265,000 

 

(1) The following is a reconciliation of the fair value of major classes of assets acquired and liabilities assumed which comprised of net tangible liabilities on January 7, 2024.
(2) The copyrights and software, collectively known as content assets, are both applied to produce short dramas. The useful lives of these content assets ranged between 6 and 12 months.