Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

CONTRACT LIABILITY (Tables)

v3.25.1
CONTRACT LIABILITY (Tables)
12 Months Ended
Dec. 31, 2024
Summary Of Contract Liability  
SUMMARY OF CONTRACT LIABILITY

As of December 31, 2024 and 2023, contract liability consists of:

 

    2024     2023  
    As of December 31,  
    2024     2023  
Educational revenue paid in advance   $ 1,731,378     $ 2,580,097  
Advance bookings for lodges     -       170,040  
Total   $ 1,731,378     $ 2,750,137  
SCHEDULE OF RECONCILIATION OF DEFERRED REVENUE

A reconciliation of contract liability for the years ended December 31, 2024 and 2023 are as follows:

 

    2024     2023  
    As of December 31,  
    2024     2023  
Contract liability, beginning balance   $ 2,750,137     $ 6,391,993  
Addition     1,265,624       2,243,992  
Revenue earned     (2,284,383 )     (5,885,848 )
Contract liability, ending balance   $ 1,731,378     $ 2,750,137