v3.26.3
PARENT ONLY FINANCIAL INFORMATION (Tables)
12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE OF CONDENSED PARENT COMPANY STATEMENT OF LOSS

Condensed Balance Sheets

 

SCHEDULE OF CONDENSED PARENT COMPANY BALANCE SHEETS 

   2025   2024 (Restated) 
   As of December 31, 
   2025   2024 (Restated) 
Prepayments and deposits  $—   $— 
Total Current Assets   —    — 
Non-Current Assets          
Interests in subsidiaries   48,950,428    82,861,465 
Amounts due from group companies   64,632,281    61,943,090 
Deferred tax assets, net   —    — 
Total non-current assets   113,582,709    144,804,555 
Total Assets   113,582,709    144,804,555 
           
Liabilities and Stockholders’ Equity          
Current Liabilities          
Other payables and accrued expenses  $642,677   $387,168 
Amounts due to related parties   1,462,110    1,462,110 
Amounts due to group companies   —    142,702 
Total Current Liabilities   2,104,787    1,991,980 
           
Total Liabilities   2,104,787    1,991,980 
           
Stockholders’ Equity          
PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding   —    — 
COMMON STOCK; $0.0005 par value; 80,000,000 shares authorized; 1,568,114 and 1,120,145 shares issued; and
1,539,531 and 1,091,562 shares outstanding as of December 31, 2025 and December 31, 2024
   784    560 
Treasury stock; 28,583 shares as of December 31, 2025 and December 31, 2024 at cost   (1,372,673)   (1,372,673)
Additional paid-in capital   105,927,142    101,712,325 
Share to be issued   —    194,700 
Retained earnings unappropriated   (7,526,347)   36,393,884 
Retained earnings appropriated   26,667,097    26,667,097 
Currency translation adjustment   (12,218,081)   (20,783,318)
Total Stockholders’ Equity   111,477,922    142,812,575 
Total Liabilities and Stockholders’ Equity  $113,582,709   $144,804,555 

 

 

Condensed Statements of Loss

 

 

   2025   2024 (Restated) 
   Years Ended December 31, 
   2025   2024 (Restated) 
OPERATING EXPENSES          
General and administrative expenses  $(1,443,957)  $(742,480)
TOTAL OPERATING EXPENSES   (1,443,957)   (742,480)
OTHER EXPENSES          
Interest expense   —    — 
TOTAL OTHER EXPENSES   —    — 
TOTAL EXPENSES   (1,443,957)   (742,480)
Equity in net loss of subsidiaries   (42,476,274)   (59,157,892)
LOSS BEFORE INCOME TAXES   (43,920,231)   (59,900,372)
INCOME TAXES   —    — 
NET LOSS  $(43,920,231)  $(59,900,372)
SCHEDULE OF CONDENSED PARENT COMPANY STATEMENT OF LOSS

Condensed Statements of Loss

 

 

   2025   2024 (Restated) 
   Years Ended December 31, 
   2025   2024 (Restated) 
OPERATING EXPENSES          
General and administrative expenses  $(1,443,957)  $(742,480)
TOTAL OPERATING EXPENSES   (1,443,957)   (742,480)
OTHER EXPENSES          
Interest expense   —    — 
TOTAL OTHER EXPENSES   —    — 
TOTAL EXPENSES   (1,443,957)   (742,480)
Equity in net loss of subsidiaries   (42,476,274)   (59,157,892)
LOSS BEFORE INCOME TAXES   (43,920,231)   (59,900,372)
INCOME TAXES   —    — 
NET LOSS  $(43,920,231)  $(59,900,372)
SCHEDULE OF CONDENSED PARENT COMPANY CONDENSED STATEMENT OF CASH FLOWS

   2025   2024 (Restated) 
   Years Ended December 31, 
   2025   2024 (Restated) 
CASH FLOWS FROM OPERATING ACTIVITIES          
Net Loss  $(43,920,231)  $(59,900,372)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:          
Equity loss in unconsolidated subsidiaries   42,476,274    59,157,892 
Stock-based compensation expense-options   —    — 
Shares issued from treasury stock for services   —    — 
Changes in assets and liabilities:   —    — 
Other payables and accrued expenses   255,509    396,825 
Net cash used in operating activities   (1,188,448)   (345,655)
CASH FLOWS FROM FINANCING ACTIVITIES          
Advances from group companies   1,188,448    345,655 
Net cash provided by financing activities   1,188,448    345,655 
NET INCREASE IN CASH AND CASH EQUIVALENTS   —    — 
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR   —    — 
CASH AND CASH EQUIVALENTS - END OF YEAR  $—   $—