Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of assets and liabilities from discontinued operations

	December 31,
	2022
CURRENT ASSETS:
Cash	$	829,258
Accounts receivable, net		402,309
Other receivables, net		99,405
Due from related parties		29,983
Prepayments and other current assets		202,054
Total current assets of discontinued operations		1,563,009
OTHER ASSETS:
Property and equipment, net		153,516
Right-of-use assets		52,813
Long-term deposits, net		18,993
Intangible assets, net		2,556,761
Goodwill		478,657
Total other assets of discontinued operations		3,260,740
Total assets of discontinued operations	$	4,823,749

Carrying amounts of major classes of liabilities included as part of discontinued operations of Infobird HK, Infobird WFOE, Infobird Beijing, Infobird Guiyang, Infobird Anhui, Shanghai Qishuo and Anhui Weiao:

	December 31,
	2022
CURRENT LIABILITIES:
Account payable	$	3,216,364
Bank loans - current		3,548,242
Other payables and accrued liabilities		1,134,345
Due to related parties		53,671
Due to Infobird Cayman		14,013,927
Deferred revenue		1,460,249
Taxes payable		653,085
Lease liabilities - current		39,861
Total current liabilities of discontinued operations		24,119,744
OTHER LIABILITIES:
Bank loans - noncurrent		18,170
Lease liabilities - noncurrent		8,602
Total other liabilities of discontinued operations		26,772
Total liabilities of discontinued operations	$	24,146,516

Schedule of income and losses from discontinued operations

	For the Year Ended
	December 31,			December 31,			December 31,
	2023			2022			2021
REVENUES	$	2,589,823		$	5,505,734		$	9,641,080
COST OF REVENUES		1,603,887			3,527,402			7,373,652
GROSS PROFIT		985,936			1,978,332			2,267,428
OPERATING EXPENSES:
Selling		607,424			3,368,714			3,828,835
General and administrative		954,576			6,142,730			5,152,995
Research and development		922,343			3,323,361			3,269,680
Long-live assets impairment		2,602,589			2,631,019			3,692,047
Total operating expenses		5,086,932			15,465,824			15,943,557
LOSS FROM OPERATIONS		(4,100,996	)		(13,487,492	)		(13,676,129	)
OTHER INCOME (EXPENSE)
Interest income		1,296			2,994			9,135
Interest expense		(33,682	)		(1,450,707	)		(317,402	)
Other (expense) income, net		(154,275	)		1,206,793			(514,162	)
Total other income (expense), net		(186,661	)		(240,920	)		(205,895	)
LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES		(4,287,657	)		(13,728,412	)		(13,470,234	)
GAIN ON THE SALE OF DISCONTINUED OPERATIONS BEFORE INCOME TAXES		22,858,286			—			—
TOTAL INCOME(LOSS) FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES		18,570,629			(13,728,412	)		(13,470,234	)
INCOME TAX EXPENSE(BENEFIT)		—			(77,649	)		124,058
INCOME(LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX		18,570,629			(13,650,763	)		(13,594,292	)