| Schedule of information for discontinued operations |
| | | | | | | | | For the Three Months Ended | | For the Six Months Ended | | | June 30, | | June 30, | | | 2024 | | 2024 | | | (Unaudited) | | (Unaudited) | | | | | | | | Revenue | | $ | 200,297 | | $ | 1,631,248 | | | | | | | | Cost of Revenue | | | 215,834 | | | 1,656,068 | | | | | | | | Gross loss | | | (15,537) | | | (24,820) | | | | | | | | Operating expenses | | | | | | | Selling, General and administrative expenses | | | 19,422 | | | 98,262 | Total operating expenses | | | 19,422 | | | 98,262 | | | | | | | | Loss from discontinued operations | | | (34,959) | | | (123,082) | | | | | | | | Other income (expenses) | | | | | | | Interest expenses | | | 27,899 | | | 82,358 | Other expenses, net | | | 27,899 | | | 82,358 | | | | | | | | Loss from discontinued operations before income taxes | | | (62,858) | | | (205,440) | | | | | | | | Income tax provision | | | — | | | — | | | | | | | | Loss from discontinued operations | | $ | (62,858) | | $ | (205,440) |
| | | | | | December 31, | | | 2024 | ASSETS | | | | CURRENT ASSETS: | | | | Accounts receivable, net* | | $ | 2,540,501 | Other receivables** | | | — | TOTAL CURRENT ASSETS OF DISCONTINUED OPERATIONS | | | 2,540,501 | | | | | TOTAL ASSETS OF DISCONTINUED OPERATIONS | | $ | 2,540,501 | | | | | LIABILITIES | | | | CURRENT LIABILITIES: | | | | Accrued expense and other liabilities | | | 52,900 | TOTAL CURRENT LIABILITIES OF DISCONTINUED OPERATIONS | | | 52,900 | | | | | TOTAL LIABILITIES OF DISCONTINUED OPERATIONS | | $ | 52,900 |
*Accounts Receivable, net | | | | | | December 31, | | | 2024 | | | | | Accounts receivable | | | | Parallel-import Vehicles | | $ | 4,130,047 | Less: allowance of credit loss | | | (1,589,546) | Total accounts receivable, net | | $ | 2,540,501 |
| | | | | | December 31, | | | 2024 | | | | | Vehicle deposits (1) | | $ | 100,800 | Sales tax deposits (2) | | | 34,886 | Other receivables | | | — | Less: allowance of credit loss | | | (135,686) | Total other receivables, net | | $ | — |
(1)Vehicle deposits were prepaid to suppliers for purchasing vehicles under the parallel-import vehicle business. Following the business discontinuation, certain deposits became unrecoverable due to supplier financial distress and contract terminations. The Company recognized a total expected credit loss of $100,800 on vehicle deposits for the discontinued operations during the year ended December 31, 2024. (2)Sales tax receivables related to tax refunds and overpayments associated with vehicle transactions. Due to changes in tax policies and the cessation of vehicle sales, certain tax receivables became unrecoverable. The Company recognized a total credit loss of $34,886 for the discontinued operations during the year ended December 31, 2024. | | | | | | | | | For the Six Months Ended | | | June 30, | | | 2025 | | 2024 | | | (Unaudited) | | (Unaudited) | Cash flows from discontinued operating activities: | | | | | | | Net loss | | $ | — | | $ | (205,440) | Less: Loss from discontinued operations, net of tax | | | — | | | (205,440) | Cash provided by operations-discontinued operations | | | 2,540,501 | | | 3,170,700 | Net cash provided by discontinued operating activities | | | 2,540,501 | | | 2,965,260 | | | | | | | | Cash flows from discontinued financing activities: | | | | | | | Cash used in financing activities-discontinued operations | | | — | | | (1,108,735) | Net cash used in discontinued financing activities | | $ | — | | $ | (1,108,735) |
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