|
The
following is a reconciliation of the carrying amounts of major classes of assets and liabilities in the consolidated balance sheets as
of the date of disposition of subsidiaries:
| |
|
As of |
|
| |
|
date of |
|
| |
|
disposition |
|
| Carrying amount of major classes of assets |
|
|
|
| Cash |
|
|
754 |
|
| Restricted cash |
|
|
2,590,915 |
|
| Prepaid expenses |
|
|
426,492 |
|
| Total assets of disposed entity |
|
$ |
3,018,161 |
|
| |
|
|
|
|
| Carrying amount of major classes of liabilities |
|
|
|
|
| Loans from third parties |
|
|
999,940 |
|
| Due to intercompany |
|
|
4,287,542 |
|
| Accrued expenses and other current liabilities |
|
|
478,038 |
|
| Total liabilities of disposed entity |
|
$ |
5,765,520 |
|
| |
|
|
|
|
| Net liabilities disposed of |
|
$ |
(2,747,359 |
) |
| |
|
|
|
|
| Cash outflow arising from disposal: |
|
|
|
|
| Net liabilities disposed of (as above) |
|
$ |
(2,747,359 |
) |
| Less: Consideration |
|
|
(2,700,000 |
) |
| Gain from disposal of subsidiaries |
|
$ |
47,359 |
|
| |
|
|
|
|
| Cash proceeds on disposal |
|
$ |
2,700,000 |
|
| Less: Cash and bank balances in subsidiary disposed of |
|
|
(2,591,669 |
) |
| Net cash inflow on disposal |
|
$ |
108,331 |
|
The
following is a reconciliation of the amounts of major classes of operations of disposed entities in the condensed consolidated statements
of income (loss) and comprehensive income (loss) for the period from July 1, 2025 to the date of disposition.
| |
|
From July 1, 2025 |
|
| |
|
to the date of |
|
| |
|
disposition |
|
| Operating expenses |
|
|
30,588 |
|
| Net loss |
|
$ |
30,588 |
|
|