INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (BENEFIT)

The components of income tax expense and the effective tax rates for the years ended December 31, 2021 and 2020 are as follows:

	Year Ended December 31,
	2021			2020
Current:
Federal	$	45,736		$	-
State		46,179			11,633
Total Current		91,916			11,633
Deferred:
Federal		(2,725,007	)		(1,488,666	)
State		(1,266,545	)		(563,779	)
Total Deferred		(3,991,553	)		(2,052,445	)
Valuation Allowance		3,991,553			2,052,445
Total Income Tax Expense	$	91,916		$	11,633
Pre-tax Loss	$	(118,483,577	)	$	(3,972,454	)
Effective Income Tax Rate		-0.1	%		-0.3	%

SCHEDULE OF RECONCILIATION OF INCOME TAX

A reconciliation of our income tax expense at federal statutory income tax rate of 21% to our income tax expense at the effective tax rate is as follows:

	Year Ended December 31,
	2021			2020
Federal Statutory Tax Rate		21.0	%		21.0	%
State Income Tax, Net of Federal Income Taxes		0.0	%		0.4	%
Intercompany Management & Oversight Fees		-0.1	%		-2.5	%
Capitalized Construction Costs		0.2	%		5.9	%
Minority interest in Partnerships		0.1	%		0.9	%
Deferred Finance Costs		-0.2	%		-6.6	%
Amort of BCF Debt Discount		-9.0	%		0.0	%
Miscellaneous Permanent Items		0.0	%		0.4	%
Non includible foreign entities loss/(income)		-9.6	%		-22.3	%
Valuation Allowance		-2.5	%		2.5	%
Effective Income Tax Rate		-0.1	%		-0.3	%

SCHEDULE OF DEFERRED TAX ASSETS

Deferred tax assets consist of the following at December 31, 2021 and 2020:

	2021			2020
Interest Income		(5,660,333	)		(5,083,993	)
Interest Expense		5,100,076			4,664,342
Depreciation and Amortization		(10,434	)		(6,362	)
Impairment		2,253,228			2,253,228
Accrued Expense		60,662			8,895
Unrealized Loss on Investment		2,512,554			-
Partnership Loss		13,175			13,175
Others		(224,637	)		16,178
Net Operating Loss		2,047,388			186,981
		6,091,679			2,052,445
Valuation Allowance		(6,091,679	)		(2,052,445	)
Net Deferred Tax Asset		-			-

SCHEDULE OF OTHER COUNTRY INCOME TAXES

As of December 31, 2021:

	SG Companies			HK Companies			KR Companies			AU Companies			Total
Calculation:
Cumulative loss & other deferred tax assets before tax	$	(11,692,089	)	$	-		$	-		$	-		$	(11,692,089	)
Effective tax rates		17.00	%		16.50	%		19.24	%		30.00	%
Tax at the domestic tax rates applicable to profits in the countries where the Company operates	$	(1,987,655	)	$	-		$	-		$	-		$	(1,987,655	)
Adjustments:
Deferred tax assets not recognized	$	1,987,655		$	-		$	-		$	-		$	1,987,655
Income tax expenses recognized in profit or loss	$	-		$	-		$	442,098		$	-		$	442,098

As of December 31, 2020:

	SG Companies			HK Companies			KR Companies			AU Companies			Total
Calculation:
Cumulative loss & other deferred tax assets before tax	$	(1,801,455	)	$	-		$	(123,278	)	$	-		$	(1,924,733	)
Effective tax rates		17.00	%		16.50	%		25.00	%		30.00	%
Tax at the domestic tax rates applicable to profits in the countries where the Company operates	$	(306,247	)	$	-		$	(30,819	)	$	-		$	(337,066	)
Adjustments:
Deferred tax assets not recognized	$	306,247		$	-		$	30,819		$	-		$	337,066
Income tax expenses recognized in profit or loss	$	-		$	-		$	-		$	-		$	-