SEGMENTS

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

SEGMENTS

4. SEGMENTS

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision–making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision-maker is the CEO. The Company operates in and reports four business segments: real estate, digital transformation technology, biohealth, and other business activities. The Company’s reportable segments are determined based on the services they perform and the products they sell, not on the geographic area in which they operate. The Company’s chief operating decision maker evaluates segment performance based on segment revenue. Costs excluded from segment income (loss) before taxes and reported as “Other” consist of corporate general and administrative activities which are not allocable to the four reportable segments.

The following table summarizes the Company’s segment information for the following balance sheet dates presented, and for the nine months ended September 30, 2024 and 2023:

	Real Estate			Digital Transformation Technology			Biohealth Business			Other			Total
Nine Months Ended on September 30, 2024
Revenue	$	10,997,704		$	-		$	-		$	1,176,260		$	12,173,964
Cost of Sales		(7,882,274	)		-			(3,409	)		(552,466	)		(8,438,149	)
Gross Profit (Loss)		3,115,430			-			(3,409	)		623,794			3,735,815
Operating Expenses		(1,321,120	)		(421,543	)		(910,354	)		(7,122,562	)		(9,775,579	)
Operating Income (Loss)		1,794,310			(421,543	)		(913,763	)		(6,498,768	)		(6,039,764	)
Other Income (Expense)		11,784			(1,935,969	)		(923,595	)		1,893,028			(954,752	)
Net Income (Loss) Before Income Tax		1,806,094			(2,357,512	)		(1,837,358	)		(4,605,740	)		(6,994,516	)

	Real Estate			Digital Transformation Technology			Biohealth Business			Other			Total
Nine Months Ended on September 30, 2023
Revenue	$	20,227,362		$	28,094		$	12,786		$	802,741		$	21,070,983
Cost of Sales		(12,755,702	)		(9,145	)		(21,516	)		(222,470	)		(13,008,833	)
Gross Profit (Loss)		7,471,660			18,949			(8,730	)		580,271			8,062,150
Operating Expenses		(1,418,743	)		(327,746	)		(638,738	)		(4,734,061	)	$	(7,119,288	)
Operating Income (Loss)		6,052,917			(308,797	)		(647,468	)		(4,153,790	)		942,862
Other Income (Expense)		58,635			36,855			(223,570	)		(27,932,254	)	$	(28,060,334	)
Net Income (Loss) Before Income Tax		6,111,552			(271,942	)		(871,038	)		(32,086,044	)		(27,117,472	)
September 30, 2024
Cash and Restricted Cash	$	4,044,262		$	407,297		$	400,244		$	12,775,024		$	17,626,826
Total Assets		63,266,446			3,760,853			2,755,291			29,006,247			98,788,837
December 31, 2023
Cash and Restricted Cash	$	3,323,210		$	430,807		$	568,702		$	23,566,574		$	27,889,293
Total Assets		62,989,233			5,845,269			2,450,876			55,028,650		$	126,314,028