Restatement of Previously Issued Financial Statements (Tables)
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9 Months Ended |
Sep. 30, 2025 |
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| Restatement of Previously Issued Financial Statements [Abstract] |
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| Schedule of Condensed Consolidated Balance Sheet |
Unaudited condensed consolidated balance sheets as of
September 30, 2025
| | |
As Previously | | |
| | |
| |
| | |
Reported | | |
Adjustments | | |
As Restated | |
| Loan receivable - related party | |
$ | - | | |
$ | 605,000 | | |
$ | 605,000 | |
| Total other current assets | |
| 2,611,266 | | |
$ | - | | |
$ | 2,611,266 | |
| Total current assets | |
$ | 2,611,266 | | |
$ | 605,000 | | |
$ | 3,216,266 | |
| | |
| | | |
| | | |
| | |
| Property and equipment, net | |
$ | 17,131,049 | | |
$ | 349,648 | | |
$ | 17,480,697 | |
| Other non current assets | |
| 2,312,395 | | |
| - | | |
| 2,312,395 | |
| Total assets | |
$ | 22,054,710 | | |
$ | 954,648 | | |
$ | 23,009,358 | |
| | |
| | | |
| | | |
| | |
| Other payable and accrued liabilities | |
$ | 5,463,016 | | |
$ | 7,552 | | |
$ | 5,470,568 | |
| Short-term loans | |
$ | 2,530,412 | | |
$ | 1,362,987 | | |
$ | 3,893,399 | |
| Total current liabilities | |
$ | 21,594,312 | | |
$ | 1,370,539 | | |
$ | 22,964,851 | |
| Total Liabilities | |
$ | 30,186,035 | | |
$ | 1,370,539 | | |
$ | 31,556,574 | |
| Net assets | |
$ | (8,131,325 | ) | |
| (415,891 | ) | |
$ | (8,547,216 | ) |
|
| Schedule of Condensed Consolidated Statement of Change in Stockholders’ Deficit |
Unaudited condensed consolidated statement of change in stockholders’ deficit for the nine months ended September 30, 2025
| | |
As | | |
| | |
| |
| | |
Previously | | |
| | |
| |
| | |
Reported | | |
Adjustments | | |
As Restated | |
| Accumulated deficit | |
$ | (30,711,831 | ) | |
$ | (36,041 | ) | |
$ | (30,747,872 | ) |
| Additional paid in capital | |
| 21,766,220 | | |
| (379,850 | ) | |
| 21,386,370 | |
| Total Stockholders’ Deficit | |
$ | (8,944,930 | ) | |
$ | (415,891 | ) | |
$ | (9,360,821 | ) |
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| Schedule of Condensed Consolidated Statement of Operations and Comprehensive Loss |
Unaudited condensed consolidated statement of operations and
comprehensive loss for the three months ended September 30, 2025
| | |
As | | |
| | |
| |
| | |
Previously | | |
| | |
| |
| | |
Reported | | |
Adjustments | | |
As Restated | |
| | |
| | |
| | |
| |
| Total operating expenses | |
$ | (1,331,949 | ) | |
$ | (25 | ) | |
$ | (1,331,974 | ) |
| Total other expenses, net | |
$ | (839,266 | ) | |
$ | (36,016 | ) | |
$ | (875,282 | ) |
| Net loss | |
$ | (2,170,789 | ) | |
$ | (36,041 | ) | |
$ | (2,206,830 | ) |
| Other comprehensive loss - foreign currency | |
| (135 | ) | |
| - | | |
$ | (135 | ) |
| Comprehensive loss | |
$ | (2,170,924 | ) | |
$ | (36,041 | ) | |
$ | (2,206,965 | ) |
| | |
As | | |
| | |
| |
| | |
Previously | | |
| | |
| |
| | |
Reported | | |
Adjustments | | |
As Restated | |
| | |
| | |
| | |
| |
| Total operating expenses | |
$ | (3,849,952 | ) | |
$ | (25 | ) | |
$ | (3,849,977 | ) |
| Total other expenses, net | |
$ | (2,314,569 | ) | |
$ | (36,016 | ) | |
$ | (2,350,585 | ) |
| Net loss | |
$ | (5,961,537 | ) | |
$ | (36,041 | ) | |
$ | (5,997,578 | ) |
| Other comprehensive loss - foreign currency | |
| 259 | | |
| - | | |
$ | 259 | |
| Comprehensive loss | |
$ | (5,961,278 | ) | |
$ | (36,041 | ) | |
$ | (5,997,319 | ) |
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| Schedule of Condensed Consolidated Statement of Cash Flow |
| | |
As | | |
| | |
| |
| | |
Previously | | |
| | |
| |
| | |
Reported | | |
Adjustments | | |
As Restated | |
| | |
| | |
| | |
| |
| Net loss | |
$ | (5,961,537 | ) | |
$ | (36,041 | ) | |
$ | (5,997,578 | ) |
| Amortization of debt issuance cost | |
$ | 331,968 | | |
$ | 28,464 | | |
$ | 360,432 | |
| Depreciation expense | |
$ | 97,368 | | |
$ | 25 | | |
$ | 97,393 | |
| Other payable and accrued liabilities | |
$ | 1,879,962 | | |
$ | 7,552 | | |
$ | 1,887,514 | |
| Cash flows from operating activities: | |
$ | (1,805,482 | ) | |
$ | - | | |
$ | (1,805,482 | ) |
| Supplemental disclosure of non cash transactions : | |
| | | |
| | | |
| | |
| Asset acquisition via preferred stock issuance | |
$ | 9,795,484 | | |
$ | (379,850 | ) | |
$ | 9,415,634 | |
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