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

RIGHT OF USE ASSET AND LEASE LIABILITY (Tables)

v3.24.1.1.u2
RIGHT OF USE ASSET AND LEASE LIABILITY (Tables)
 12 Months Ended
Dec. 31, 2023
Notes and other explanatory information [abstract]  
SCHEDULE OF CARRYING AMOUNTS OF RIGHT-OF-USE ASSETS

The carrying amounts of right-of-use assets are as follows:

 

             
    As of December 31,  
    2023     2022  
Right-of-use asset – Buildings   $ -     $ 2,541,123  
Right-of-use asset – Buildings (related party)     11,149,101       11,149,101  
Right-of-use asset – Leasehold     -       992,410  
Right-of-use asset – Office space     -       58,412  
Foreign currency translation     -       (119,182 )
Accumulated depreciation of right-of-use assets     -       (1,723,114 )
Accumulated depreciation of right-of-use assets (related party)     (997,456 )     (325,040 )
Lease modifications     (10,151,645 )     -  
Right of use asset   $ -     $ 12,573,710  
SCHEDULE OF MATURITY ANALYSIS OF LEASE LIABILITIES

The maturity analysis of lease liabilities is as follows:

 

             
    As of December 31,  
    2023     2022  
Within one year   $ -     $ 1,664,966  
Two to five years     -       6,280,716  
Thereafter         -       17,871,937  
Gross lease liabilities     -       25,817,619  
Less: Imputed interest     -       (12,832,744 )
Lease liabilities   $ -     $ 12,984,875  
                 
Lease liabilities – Current   $ -     $ 1,590,538  
Lease liabilities - Non-Current     -       11,394,337  
Lease liabilities   $ -     $ 12,984,875