v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (26,402,407) $ (83,833,161) $ (122,227,195)
Adjustments to reconcile net loss from operations to net cash used in operating activities:      
Depreciation and amortization 2,774,653 6,113,904 5,458,596
(Recovery of) provision for credit losses (1,352,466) 5,358,510 539,284
Share based compensation 6,027,637 5,834,999 6,058,117
Loss from disposal of property and equipment 6,262 978 188
Deferred tax benefit (1,667,125) (122,343) (66,695)
Gain from fair value change in equity investments (2,402,943)
Fair value loss on financial instruments 71,006,115
Loss (gain) from long term investment 50,192 (70,947)
Settlement loss on disposition of assets 318,129
Impairment charges 21,847,760 64,485,916 31,958,931
Loss on debt extinguishment 473,653
Change in fair value of convertible notes (1,048,271) 21,166
Accrued interest of convertible notes 181,559 646,206 297,954
Loss from disposition of a subsidiary (4,581,885)
Amortization of right-of-use assets-operating lease 282,414 332,131 172,435
Changes in assets and liabilities:      
Notes receivable (147,653) 27,794 (15,535)
Accounts receivable 6,102,932 231,204 (6,409,095)
Prepayments, deposits and other assets 705,505 367,168 (1,513,880)
Accounts payable (4,451,006) (1,587,053) 6,076,903
Accounts payable-related party
Accrued expenses and other current liabilities (2,454,579) 2,305,539 (783,861)
Taxes payable 68,752 69,816 58,266
Deferred revenue 77,083 (646,242) 830,574
Operating lease liabilities (308,383) (321,317) (141,183)
NET CASH USED IN OPERATING ACTIVITIES (3,240,755) (992,440) (11,152,805)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Repayment from (loans to) third parties 27,998 (309,161) (1,320,203)
Purchases of property and equipment (227,829) (723,977) (679,146)
Purchases of intangible assets (788,582) (903,804) (1,240,041)
Proceeds from disposal of property and equipment 59
Payment for long-term investment (169,739)
Payments to related parties (600,000)
Proceeds from related parties 270,156 378,713 1,350,425
Net cash received from disposal of subsidiaries 6,345
Net cash arising from business combination 8,924 47,366 58,048
NET CASH USED IN INVESTING ACTIVITIES (872,727) (1,510,863) (2,430,858)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from bank loans 3,046,817 4,210,848 3,954,300
Repayments of bank loans (3,937,391) (4,169,157) (2,542,050)
Proceeds from private placement and market offering 8,972,600 601,639 8,537,719
Split shares (3,435) (3,527)
Proceeds from (payment for) issuance of convertible notes (533,333) 1,482,159 (1,250,000)
Proceeds from (payments to) related parties 10,939 28,591 40,484
Loan from (repayment to) third party (5,615,197) 26,465 552,108
NET CASH PROVIDE BY FINANCING ACTIVITIES 1,944,435 2,177,110 9,289,034
EFFECT OF EXCHANGE RATE CHANGES 117,194 (124,747) (370,193)
NET DECREASE IN CASH, CASH EQUIVALENT AND RESTRICTED CASH (2,051,853) (450,940) (4,664,822)
CASH, CASH EQUIVALENT AND RESTRICTED CASH - beginning of year 4,264,560 4,715,500 9,380,322
CASH, CASH EQUIVALENT AND RESTRICTED CASH - end of year 2,212,707 4,264,560 4,715,500
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Interest 741,006 286,608 144,080
Income taxes 2,652 172 14,138
NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES      
Right of use assets obtained in exchange of lease liabilities 431,642 320,127 324,304
Conversion of convertible notes 3,128,453
Issuance shares as prepayment for potential acquisition 15,906,186
Issuance shares for acquisitions 36,718,737
Non-controlling interests recognized from step acquisitions 23,946,670
Due to related party transferred to non-controlling interests 38,892 115,050
Prepayments, deposits and other assets transferred from loan receivable 59,651,975
Prepayments, deposits and other assets as consideration for acquisitions 8,264,382 13,854,016
RECONCILIATION TO AMOUNTS ON CONSOLIDATED BALANCE SHEETS:      
Cash 2,212,707 4,193,839 2,991,563
Restricted cash 70,721 1,723,937
Total cash and restricted cash $ 2,212,707 $ 4,264,560 $ 4,715,500