v3.26.1
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities:    
Net loss $ (1,275,128) $ (2,707,282)
Net income from discontinued operation 27,830,733
Net loss from continuing operation (1,275,128) (30,538,015)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 18,591 26,205
Amortization of debt issuance costs 17,550
Amortization 46,258 14,259
Allowance for (reversal of) credit losses/doubtful accounts (138,940) 31,446,230
Share-based payments 1,085,000
Interest expenses related to convertible note 37,791 6,972
Changes in operating assets and liabilities:    
Accounts receivable (65,544) 430,016
Other receivable 495,854 (27,709,205)
Advances to suppliers and other current assets 121,318 (3,608,016)
Operating lease assets and liabilities (25,585) (368)
Accounts payable (816,869) 141,355
Accrued expenses and other payables 17,989 9,090,495
Advances from customers 36,493 47,182
Net Cash Used in Operating Activities from Continuing Operations (1,530,222) (19,567,890)
Net Cash Provided by Operating Activities from Discontinued Operations 19,042,510
Cash Flows from Investing Activities:    
Debt investment 236,903
Payment for short-term investment (14,390)
Redemption of short-term investments 15,829
Repayment of loan receivable 139,355
Net Cash Provided by Investing Activities from Continuing Operations 1,439 376,258
Net Cash Used in Investing Activities from Discontinued Operations
Cash Flows from Financing Activities:    
Payment made for amounts due from related parties, net (2,508)
Repayment of amounts due to related parties, net (117,721) (3,585)
Net Cash Used in Financing Activities from Continuing Operations (117,721) (6,093)
Net Cash Provided by Financing Activities from Discontinued Operations
Effect of Exchange Rate Changes on Cash and Restricted Cash 249,840 (196,999)
Net Decrease in Cash and Restricted Cash (1,396,664) (352,214)
Cash and Restricted Cash, at beginning of Period 5,077,164 4,765,111
Cash and Restricted Cash at end of Period 3,680,500 4,412,897
Noncash activities    
Issuance of common stocks for conversion of debts $ 100,000