Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Nature of Business and Organization [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables represent the fair value hierarchy of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023:

	As of June 30, 2023
	Fair Value Measurement at the Reporting Date using
	Quoted price in active markets for identical assets Level 1		Significant other observable inputs Level 2		Significant unobservable inputs Level 3		Total
Financial liabilities:
Put option liability from Smartconn acquisition	$	-	$	-	$	16,901,363	$	16,901,363
Put option liability from Boxinrui acquisition		-		-		28,162,041		28,162,041
Convertible loan						6,639,622		6,639,622
Total	$	-	$	-	$	51,703,026	$	51,703,026

Schedule of Fair Value Measurement

The major assumptions used in the binomial model are as follows:

	January 5, 2023			June 30, 2023
Risk-free interest rate		4.4	%		5.06	%
Share price	$	0.11		$	0.03

	March 28, 2023			June 30, 2023
Risk-free interest rate		3.98	%		4.94	%
Share price	$	0.09		$	0.03

Schedule of Recurring Basis using Significant Unobservable Inputs

The following is a reconciliation of the beginning and ending balances for put options measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of June 30, 2023 and December 31, 2022:

	June 30,		December 31,
	2023		2022
Opening balance	$	-	$	-
Issuance of put option liability from Smartconn acquisition		10,969,850		-
Issuance of put option liability from Boxinrui acquisition		17,171,609
Loss on change in fair value of put options		16,921,945		-
Total	$	45,063,404	$	-

	June 30,			December 31,
	2023			2022
Opening balance	$	9,079,966		$	2,251,832
Issuance of convertible note		-			7,979,983
Loss on change in fair value of convertible notes		530,501			2,448,936
Accrued interest		157,607			195,139
Conversion of convertible notes		(3,128,452	)		(3,795,924	)
Total	$	6,639,622		$	9,079,966

Schedule of Estimated Useful Lives

The estimated useful lives are as follows:

	Useful Life
Office equipment, fixtures and furniture	3-10 years
Automobiles	5-8 years
Capitalized development costs and software acquired	5-10 years
Computer equipment	5 years
Buildings	28 years