v3.25.2
SEGMENT REPORTING (Tables)
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SCHEDULE OF REPORTABLE SEGMENTS, REVENUE AND INCOME

The following tables present the summary of each reportable segment’s assets, revenue and income, which is considered as a segment operating performance measure, for the years ended December 31, 2024 and 2023:

 

   Segment   Segment   Consolidated 
   For the Year Ended December 31, 2024 
   Electric vehicles and accessories sales   Software royalties and development and design services     
   Segment   Segment   Consolidated 
Current assets   21,206,263    -    21,206,263 
Non-current assets   2,813,325    -    2,813,325 
Revenues   21,132,121    56,485    21,188,606 
Depreciation and amortization   1,519,640    (515,551)   1,004,089 
Segment income before tax   14,438    (740,312)   (725,874)
Segment gross profit margin   14%   (912)%   12%
Net income   (105,529)   (740,312)   (845,841)

 

   Segment   Segment   Consolidated 
   For the Year Ended December 31, 2023 
   Electric vehicles and accessories sales   Software royalties and development and design services     
   Segment   Segment   Consolidated 
Current assets  $15,830,685   $274,228   $16,104,913 
Non-current assets   1,764,534    1,802,037    3,566,571 
Revenues   14,298,967    1,175,951    15,474,918 
Depreciation and amortization   180,861    541,917    722,778 
Segment income before tax   1,349,430    (18,106)   1,331,324 
Segment gross profit margin   12%   40%   14%
Net income  $1,004,577   $(18,106)  $986,471