INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024 and 2023 are as follows:

	Year Ended December 31,
	2024			2023
Current:
Federal	$	150,786		$	92,350
State		-			-
Total Current		150,786			92,350
Deferred:
Federal		(1,821,412	)		6,176,130
State		(342,691	)		(454,675	)
Total Deferred		(2,164,103	)		5,721,455
Valuation Allowance		2,164,103			(5,721,455	)
Total Income Tax Expense	$	150,786		$	92,350
Pre-tax Loss	$	(4,015,030	)	$	(61,186,383	)
Effective Income Tax Rate		-3.8	%		-0.2	%

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,
	2024			2023
Federal Statutory Tax Rate		21.0	%		21.0	%
Capitalized Construction Costs		3.0	%		1.5	%
Deferred Finance Costs		-0.6	%		-4.0	%
Miscellaneous Permanent Items		-1.4	%		0.0	%
Non-Includible Foreign Entities Loss/(Income)		-27.4	%		-7.9	%
Valuation Allowance		1.6	%		-10.8	%
Effective Income Tax Rate		-3.8	%		-0.2	%

SCHEDULE OF DEFERRED TAX ASSETS

Deferred tax assets consist of the following at December 31, 2024 and 2023:

	2024			2023
Deferred Tax Assets:
Accrued Interest Expense	$	6,560,893		$	6,310,548
Accrued Expense		600,224			423,311
Accrued Other Income		1,596,154			145,017
Partnership Gain		13,175			13,175
Real Estate Impairment		114,432			729,312
Other Amortization		1,160,710			1,160,710
Unrealized Loss on Investment		10,351,184			9,856,139
Others		887,084			208,676
Net Operating Loss		1,096,627			2,846,999
Total Deferred Tax Assets:	$	22,380,483		$	21,693,887
Deferred Tax Liabilities:
Accrued Interest Income		(7,813,704	)		(7,148,090	)
Accumulated Depreciation and Amortization		(204,061	)		(204,192	)
Capitalized Costs		(2,185,216	)
Total Deferred Tax Assets:	$	(10,202,981	)	$	(7,352,282	)
Deferred Tax Assets / (Liabilities), Net		12,177,502			14,341,605
Less Valuation Allowance		(12,177,502	)		(14,341,605	)
Deferred Tax Asset c/f	$	-		$	-

SCHEDULE OF OTHER COUNTRY INCOME TAXES

As of December 31, 2024:

	SG Companies			HK Companies			KR Companies			AU Companies			PRC Companies			TW Companies			MYS Companies			Total
Calculation:
Cumulative loss and other deferred tax assets before tax	$	(3,507,971	)	$	(2,227,364	)	$	(1,257,412	)	$	-		$	(446,024	)	$	(208,516	)	$	(3,947	)	$	7,651,234	)
Effective tax rates		17.00	%		16.50	%		25.00	%		30.00	%		25.00	%		25.00	%		17.00	%
Tax at the domestic tax rates applicable to profits in the countries where the Company operates	$	(596,355	)	$	(367,515	)	$	(314,353	)	$	-		$	(111,506	)	$	(52,129	)	$	(671	)	$	(1,442,529	)
Adjustments:
Deferred tax assets not recognized	$	596,355		$	367,515		$	314,353		$	-		$	111,506		$	52,129		$	671		$	1,442,529
Income tax expenses recognized in profit or loss	$	-		$	-		$	-		$	-		$	-		$	-		$	-		$	-

As of December 31, 2023:

	SG Companies			HK Companies			KR Companies			AU Companies			Total
Calculation:
Cumulative loss and other deferred tax assets before tax	$	(5,016,561	)	$	-		$	-		$	-		$	(5,016,561	)
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	$	(852,815	)	$	-		$	-		$	-		$	(852,815	)
Adjustments:
Deferred tax assets not recognized	$	852,815		$	-		$	-		$	-		$	852,815
Income tax expenses recognized in profit or loss	$	-		$	-		$	-		$	-		$	-