|
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 |
|
| Due from intercompanies |
|
|
1,002,159 |
|
| Prepaid expenses |
|
|
426,492 |
|
| Total assets of disposed entity |
|
$ |
4,020,320 |
|
| |
|
|
|
|
| Carrying amount of major classes of liabilities |
|
|
|
|
| Loans from third parties |
|
|
999,940 |
|
| Accrued expenses and other current liabilities |
|
|
478,038 |
|
| Total liabilities of disposed entity |
|
$ |
1,477,978 |
|
| |
|
|
|
|
| Net assets disposed of |
|
$ |
2,542,342 |
|
| |
|
|
|
|
| Cash outflow arising from disposal: |
|
|
|
|
| Net assets disposed of (as above) |
|
($ |
2,542,342 |
) |
| Less: Consideration |
|
|
2,700,000 |
|
| Gain from disposal of subsidiaries |
|
$ |
157,658 |
|
| |
|
|
|
|
| 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 |
|
|