Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

ACCOUNTS RECEIVABLE, NET

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ACCOUNTS RECEIVABLE, NET
 12 Months Ended
Dec. 31, 2023
Accounts Receivable Net  
ACCOUNTS RECEIVABLE, NET

NOTE 5 — ACCOUNTS RECEIVABLE, NET

 

                 
    As of December 31,  
    2023     2022  
             
Accounts receivable, (gross)   $ 8,411,835     $ 8,577,930  
Less: Provision for doubtful debts   $ (6,542,904 )   $ (3,721,293 )
Accounts receivable, net   $ 1,868,931     $ 4,856,637  

 

The changes in the provision for doubtful accounts are as follows:

 

                 
    For the Years Ended December 31,  
    2023     2022  
             
Balance at the beginning of the year   $ 3,721,293     $ 122,680  
Acquisition     -       2,089,127  
Additions     2,821,611       1,509,486  
Balance at the end of the year   $ 6,542,904     $ 3,721,293