| SEGMENT INFORMATION |
NOTE 20 - SEGMENT INFORMATION The Company’s Chief Executive Officer and Chief Financial Officer have been identified as the chief operating decision makers. The Company’s chief operating decision makers direct the allocation of resources to operating segments based on the profitability and cash flows of each respective segment. The Company evaluates performance based on several factors, including net revenue, cost of revenue, operating expenses, and income from operations. The following tables show the operations of the Company’s operating segments: | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | | Property | | Real Estate | | Investment | | | | | | | Brokerage Services | | Development | | Transaction | | Others | | Total | Net revenues | | $ | 80,894 | | $ | 1,561,799 | | $ | — | | $ | — | | $ | 1,642,693 | Cost of revenues | | | (243,785) | | | (379,592) | | | — | | | — | | | (623,377) | Gross profit | | | (162,892) | | | 1,182,208 | | | — | | | — | | | 1,019,316 | | | | | | | | | | | | | | | | | Operating expenses | | | (122,180) | | | (133,808) | | | — | | | — | | | (255,988) | General and administrative expenses | | | (448,125) | | | (461,132) | | | — | | | (5,834) | | | (915,091) | Operating loss | | | (733,197) | | | 587,268 | | | — | | | (5,834) | | | (151,763) | | | | | | | | | | | | | | | | | Other income (expenses) | | | | | | | | | | | | | | | | Interest income | | | 48,342 | | | 6,613 | | | — | | | 1,516 | | | 56,471 | Interest expense | | | — | | | (447,682) | | | — | | | — | | | (447,682) | Other income, Net | | | (262,894) | | | 71,649 | | | 2,748,281 | | | — | | | 2,557,036 | Total other (expenses) income | | | (214,552) | | | (369,420) | | | 2,748,281 | | | 1,516 | | | 2,165,825 | | | | | | | | | | | | | | | | | Income (loss) before income taxes | | | (947,749) | | | 217,848 | | | 2,748,281 | | | (4,318) | | | 2,014,062 | Income tax | | | — | | | (276,656) | | | — | | | — | | | (276,656) | Net Income(loss) | | $ | (947,749) | | $ | (58,808) | | $ | 2,748,281 | | $ | (4,318) | | $ | 1,737,406 |
| | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | Property | | | | | | | | | | | | | | | Brokerage | | Real Estate | | Investment | | | | | | | | | Services | | Development | | Transaction | | Others | | Total | Net revenues | | $ | 147,596 | | $ | 11,282,883 | | $ | — | | $ | — | | $ | 11,430,479 | Cost of revenues | | | (396,641) | | | (10,115,660) | | | — | | | — | | | (10,512,301) | Gross profit | | | (249,046) | | | 1,167,224 | | | — | | | — | | | 918,178 | | | | | | | | | | | | | | | | | Operating expenses | | | (179,511) | | | (423,018) | | | — | | | — | | | (602,529) | General and administrative expenses | | | (730,516) | | | (525,836) | | | — | | | (266,609) | | | (1,522,961) | Operating loss | | | (1,159,073) | | | 218,370 | | | — | | | (266,609) | | | (1,207,312) | | | | | | | | | | | | | | | | | Other income (expenses) | | | | | | | | | | | | | | | | Interest income | | | 27,137 | | | 12,613 | | | — | | | 270 | | | 40,020 | Interest expense | | | — | | | (862,329) | | | — | | | — | | | (862,329) | Other income, Net | | | — | | | 49,724 | | | 12,104 | | | 1,736,263 | | | 1,798,091 | Total other (expenses) income | | | 27,137 | | | (799,992) | | | 12,104 | | | 1,736,533 | | | 975,782 | | | | | | | | | | | | | | | | | Income (loss) before income taxes | | | (1,131,936) | | | (581,622) | | | 12,104 | | | 1,469,924 | | | (231,530) | Income tax | | | — | | | (278,541) | | | — | | | — | | | (278,541) | Net Income (loss) | | $ | (1,131,936) | | $ | (860,163) | | $ | 12,104 | | $ | 1,469,924 | | $ | (510,071) |
| | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2024 | | | Property | | Real Estate | | Investment | | | | | | | Brokerage Services | | Development | | Transaction | | Others | | Total | Net revenues | | $ | 91,122 | | $ | 4,357,288 | | $ | — | | $ | — | | $ | 4,448,410 | Cost of revenues | | | (195,371) | | | (3,564,010) | | | — | | | — | | | (3,759,381) | Gross profit | | | (104,249) | | | 793,278 | | | — | | | — | | | 689,029 | | | | | | | | | | | | | | | | | Operating expenses | | | (83,789) | | | (269,835) | | | — | | | — | | | (353,624) | General and administrative expenses | | | (229,379) | | | (449,401) | | | — | | | (5,834) | | | (684,614) | Operating loss | | | (417,417) | | | 74,042 | | | — | | | (5,834) | | | (349,209) | | | | | | | | | | | | | | | | | Other income (expenses) | | | | | | | | | | | | | | | | Interest income | | | 58,964 | | | 6,721 | | | — | | | 1,516 | | | 67,201 | Interest expense | | | — | | | (562,698) | | | — | | | — | | | (562,698) | Other income, Net | | | (197,345) | | | 6,100 | | | (3,079,985) | | | — | | | (3,271,230) | Total other (expenses) income | | | (138,381) | | | (549,877) | | | (3,079,985) | | | 1,516 | | | (3,766,727) | | | | | | | | | | | | | | | | | Income (loss) before income taxes | | | (555,799) | | | (475,835) | | | (3,079,985) | | | (4,318) | | | (4,115,936) | Income tax | | | — | | | (169,070) | | | — | | | — | | | (169,070) | Net Income(loss) | | $ | (555,799) | | $ | (644,905) | | $ | (3,079,985) | | $ | (4,318) | | $ | (4,285,006) |
| | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2024 | | | Property | | | | | | | | | | | | | | | Brokerage | | Real Estate | | Investment | | | | | | | | | Services | | Development | | Transaction | | Others | | Total | Net revenues | | $ | 129,105 | | $ | 6,219,019 | | $ | — | | $ | — | | $ | 6,348,124 | Cost of revenues | | | (325,575) | | | (5,340,652) | | | — | | | — | | | (5,666,227) | Gross profit | | | (196,469) | | | 878,366 | | | — | | | — | | | 681,897 | | | | | | | | | | | | | | | | | Operating expenses | | | (185,773) | | | (485,706) | | | — | | | — | | | (671,479) | General and administrative expenses | | | (437,009) | | | (564,545) | | | — | | | (373,877) | | | (1,375,431) | Operating loss | | | (819,251) | | | (171,885) | | | — | | | (373,877) | | | (1,365,013) | | | | | | | | | | | | | | | | | Other income (expenses) | | | | | | | | | | | | | | | | Interest income | | | 26,262 | | | 15,748 | | | — | | | 79,888 | | | 121,898 | Interest expense | | | — | | | (1,126,174) | | | — | | | — | | | (1,126,174) | Other income, Net | | | — | | | 3,361 | | | 31,078 | | | (6,579,629) | | | (6,545,190) | Total other (expenses) income | | | 26,262 | | | (1,107,065) | | | 31,078 | | | (6,499,741) | | | (7,549,466) | | | | | | | | | | | | | | | | | Income (loss) before income taxes | | | (792,989) | | | (1,278,950) | | | 31,078 | | | (6,873,618) | | | (8,914,479) | Income tax | | | — | | | (169,216) | | | — | | | (13,900) | | | (169,216) | Net Income (loss) | | $ | (792,989) | | $ | (1,448,166) | | $ | 31,078 | | $ | (6,887,518) | | $ | (9,083,695) |
| | | | | | | | | | | | | | | | | | Property | | Real Estate | | Investment | | | | | | | | | Brokerage Services | | Development | | Transaction | | Others | | Total | As of June 30, 2025 | | | | | | | | | | | | | | | | Real estate property under development | | $ | — | | $ | 55,803,692 | | $ | — | | $ | — | | $ | 55,803,692 | Total assets | | | 11,417,363 | | | 87,496,760 | | | 35,556,470 | | | 30,626,098 | | | 165,096,691 | | | | | | | | | | | | | | | | | As of June 30, 2024 | | | | | | | | | | | | | | | | Real estate property under development | | | — | | | 83,502,785 | | | — | | | — | | | 83,502,785 | Total assets | | $ | 12,282,871 | | $ | 113,291,506 | | $ | 31,064,753 | | $ | 39,164,342 | | $ | 195,803,472 |
|