v3.26.3
SCHEDULE OF CONSOLIDATED STATEMENT OF CASH FLOWS (Details) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (4,670,180) $ (3,992,132)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization on capital lease 60,857 24,830
Depreciation and amortization 3,229,367 4,419,534
Stock-based compensation expense 196,100
Deferred tax asset (1,270,060)
Amortization of operating lease right-of-use asset 217,801 217,345
Amortization of finance lease right-of-use asset 775,702 313,941
Changes in assets and liabilities:    
Accounts receivable (1,549,443) (402,545)
Inventories (139,285) (57,859)
Prepayment and deposits (7,340) (44,903)
Advance from customers   (36,222)
Other receivables (31,987) (774)
Accounts and other payable and accrued expenses 401,190 (17,847)
Taxes payable 162,411 (257,766)
Lease liabilities (225,321) (226,018)
Net cash used in operating activities (1,580,128) (1,330,476)
CASH FLOWS FROM INVESTING ACTIVITIES    
Net cash provided by (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES    
Net cash provided by (used in) financing activities
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 28,011 (131,622)
NET DECREASE IN CASH AND CASH EQUIVALENTS (1,552,117) (1,462,098)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 10,075,162 72,223,894
CASH AND CASH EQUIVALENTS - END OF PERIOD 8,523,045 70,761,796
Cash paid during the year for:    
Paid for taxes 77,386 481,153
Interest paid 60,857 24,830
Previously Reported [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss (4,629,500) (3,992,132)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization on capital lease 21,722 24,830
Depreciation and amortization 4,003,524 4,733,475
Stock-based compensation expense 196,100  
Deferred tax asset   (1,270,060)
Amortization of operating lease right-of-use asset 217,801 217,345
Amortization of finance lease right-of-use asset
Changes in assets and liabilities:    
Accounts receivable (1,549,443) (402,545)
Inventories (139,285) (57,859)
Prepayment and deposits (7,340) (44,903)
Advance from customers   (36,222)
Other receivables (31,987) (774)
Accounts and other payable and accrued expenses 401,190 (17,847)
Taxes payable 162,411 (257,766)
Lease liabilities (225,321) (226,018)
Net cash used in operating activities (1,580,128) (1,330,476)
CASH FLOWS FROM INVESTING ACTIVITIES    
Net cash provided by (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES    
Net cash provided by (used in) financing activities
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 28,011 (131,622)
NET DECREASE IN CASH AND CASH EQUIVALENTS (1,552,117) (1,462,098)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 10,075,162 72,223,894
CASH AND CASH EQUIVALENTS - END OF PERIOD 8,523,045 70,761,796
Cash paid during the year for:    
Paid for taxes 77,386 481,153
Interest paid 21,722 24,830
Revision of Prior Period, Reclassification, Adjustment [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss (40,680) [1]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization on capital lease 39,135 [2]
Depreciation and amortization [2] (774,157) (313,941)
Stock-based compensation expense  
Deferred tax asset  
Amortization of operating lease right-of-use asset
Amortization of finance lease right-of-use asset [2] 775,702 313,941
Changes in assets and liabilities:    
Accounts receivable
Inventories
Prepayment and deposits
Advance from customers  
Other receivables
Accounts and other payable and accrued expenses
Taxes payable
Lease liabilities
Net cash used in operating activities
CASH FLOWS FROM INVESTING ACTIVITIES    
Net cash provided by (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES    
Net cash provided by (used in) financing activities
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
NET DECREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD
CASH AND CASH EQUIVALENTS - END OF PERIOD
Cash paid during the year for:    
Paid for taxes
Interest paid $ 39,135
[1] Regarding the increase in net loss, the main reason was that cost of revenue and general and administrative expenses increased. The increase in expenses was due to the reclassification of finance lease right-of-use asset. Previously, depreciation was calculated after deducting 5% residual value from the fixed assets, but now there is no residual value for amortization of finance lease right-of-use asset calculation.
[2] This restatement is due to the reclassification of buildings without property ownership certificates in fixed assets. The Company reclassified them based on their acquisition methods. The self-built portion was reclassified as “leasehold improvements” in the property, plant and equipment. The leased portion was reclassified as finance lease right-of-use assets.