XML 10 R2.htm IDEA: XBRL DOCUMENT v3.23.4
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalent $ 6,095,590 $ 9,380,322
Accounts receivable, net 15,069,001 14,814,583
Notes receivable 13,049
Due from related parties, net 2,298,833 2,140,593
Loan receivable 2,174,034 59,612,192
Prepayments, deposits and other current assets, net 1,707,141 1,447,752
Total Current Assets 27,344,599 87,408,491
Property and equipment, net 101,110,588 10,996,642
Prepayments, deposits and other assets, net 16,248,181 226,544
Long term investments 11,226,734 30,764,195
Goodwill 44,717,710
Right of use assets 366,649 211,585
Deferred tax assets 1,006,957 980,653
Total Assets 202,021,418 130,588,110
CURRENT LIABILITIES:    
Bank loans 3,861,377 2,609,755
Accounts payable 11,775,495 12,815,532
Convertible loans 6,639,622 9,079,966
Customer deposits 655,053 483,735
Deferred revenue 1,023,744 893,263
Accrued expenses and other current liabilities 1,257,527 1,733,181
Due to related party 16,768 118,114
Taxes payable 126,663 110,843
Lease liabilities 189,190 91,587
Total Current Liabilities 25,545,439 27,935,976
Lease liabilities - non-current 170,553 101,992
Financial instrument for shared issued for acquisition -put option liabilities 45,063,404
Total Liabilities 70,779,396 28,037,968
COMMITMENTS AND CONTINGENCIES
EQUITY:    
Ordinary shares, 0.4 par value; 5,000,000,000 shares authorized; 3,953,773 and 1,187,498 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively* [1] 1,581,510 474,999
Additional Paid-in Capital 229,009,623 164,753,623
Subscription receivable (500,000)
Accumulated deficit (116,544,385) (59,081,432)
Accumulated other comprehensive (loss) income (6,020,204) (3,333,541)
Total Powerbridge Technologies Co., Ltd.’s Shareholders’ Equity 107,526,544 102,813,649
Non-controlling interest 23,715,478 (263,507)
Total Equity 131,242,022 102,550,142
Total Liabilities and Equity $ 202,021,418 $ 130,588,110
[1] Retroactively restated for one-for-eight reverse split with effective date of September 22, 2023.