RESTATEMENT OF PRIOR YEAR PRESENTATION (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Changes and Error Corrections [Abstract]

SCHEDULE OF CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE LOSS

Consolidated Statement of Operations and Other Comprehensive Loss for the Year Ended on December 31, 2022

	As Previously Reported			Restatement of Prior Year Presentation #			As Restated
Revenues:
- Membership	$	751,452		$	-		$	751,452
- Non-membership		451,438			-			451,438
Total Revenue	$	1,202,890		$	-		$	1,202,890
Cost of revenue
- Membership	$	(523,243	)	$	-		$	(523,243	)
- Non-membership		(132,811	)		(32,311	)		(165,122	)
Total Cost of revenue	$	(656,054	)	$	(32,311	)	$	(688,365	)
Gross profit	$	546,836		$	(32,311	)	$	514,525
Operating expenses:
General and administrative expenses	$	(1,583,174	)	$	111,276		$	(1,471,898	)
Total operating expenses	$	(1,583,174	)	$	111,276		$	(1,471,898	)
Other income (expense)
Other income	$	147,209		$	(498	)	$	146,711
Unrealized (loss) on related party transactions		-			(29,551	)		(29,551	)
Loss on equity method investment, related party		-			(100,949	)		(100,949	)
Total Other Income	$	147,209		$	(130,998	)	$	16,211
Loss before provision for income taxes	$	(889,129	)	$	(52,033	)	$	(941,162	)
Provision for income taxes		-			-			-
Net loss	$	(889,129	)	$	(52,033	)	$	(941,162	)
Less: Net (loss) income attributable to non-controlling interests		(4,836	)		9,672			4,836
Net loss attributable to common stockholders		(884,293	)		(61,705	)		(945,998	)
Other Comprehensive Income, Net of Tax:
Foreign exchange translation adjustment		24,444			(4,836	)		19,608
Total Other Comprehensive Income, Net of Tax:	$	24,444		$	(4,836	)	$	19,608
Comprehensive (loss):	$	(859,849	)	$	(66,541	)	$	(926,390	)
Weighted average number of shares of common stock outstanding - basic and diluted		10,000			10,000			10,000
Net loss per common share - basic and diluted		(88.43	)		(6.17	)		(94.60	)

# Being restated cost of revenue – non-membership was adjusted from $132,811 to $165,122, general and administrative expenses was adjusted from $1,583,174 to $1,471,898, other income was adjusted from $147,209 to $146,711, unrealized (loss) on related party transactions was adjusted from $0 to $29,551, loss on equity method investment, related party was adjusted from $0 to $100,949 and net (loss) income attributable to non-controlling interests was adjusted from ($4,836) to $4,836.

Consolidated Balance Sheet as of December 31, 2022

	As Previously Reported			Restatement of Prior Year Presentation #			As Restated
ASSETS
Current Assets
Cash and cash equivalents	$	1,651,088		$	-		$	1,651,088
Accounts receivable, net		9,070			-			9,070
Inventory		34,126			-			34,126
Other receivables		337,798			(302,081	)		35,717
Convertible note receivable - related party		-			198,125			198,125
Prepaid expenses		17,828			-			17,828
Total Current Assets	$	2,049,910		$	(103,956	)	$	1,945,954
Non-Current Assets
Property and Equipment, net	$	166,338		$	-		$	166,338
Investment in associate, related party		207,402			(52,033	)		155,369
Deposit		305,036			-			305,036
Operating lease right-of-use assets, net		973,069			-			973,069
Total Non-Current Assets	$	1,651,845		$	(52,033	)	$	1,599,812
TOTAL ASSETS	$	3,701,755		$	(155,989	)	$	3,545,766
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable and accrued expenses	$	63,354		$	(2,583	)	$	60,771
Accrued commissions		143,383			-			143,383
VAT payable		101,373			(101,373	)		-
Due to related party, net		1,663,668			-			1,663,668
Operating lease liabilities - Current		419,303			-			419,303
Deferred revenue		21,198			-			21,198
Total Current Liabilities	$	2,412,279		$	(103,956	)	$	2,308,323
Non-Current Liabilities
Operating lease liabilities - Non-current	$	559,330		$	-		$	559,330
Total Non-Current Liabilities	$	559,330		$	-		$	559,330
Commitments and Contingencies
Stockholders’ Equity
Preferred stock, US$0.001 par value; 10,000,000 shares authorized; none issued and outstanding as of December 31, 2022	$	-		$	-		$	-
Common stock, US$.001 par value; 50,000,000 shares authorized; 10,000 shares issued and outstanding as of December 31, 2022		10			-			10
Accumulated other comprehensive loss		(195,203	)		(4,836	)		(200,039	)
Retained earnings		930,175			(56,869	)		873,306
Total HWH International Inc. Stockholders’ equity	$	734,982		$	(61,705	)	$	673,277
Non-controlling interests		(4,836	)		9,672			4,836
Total Stockholders’ Equity		730,146			(52,033	)		678,113
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	3,701,755		$	(155,989	)	$	3,545,766

# Being restated other receivables was adjusted from $337,798 to $35,717, convertible note receivable- related party was adjusted from $0 to $198,125, investment in associate, related party was adjusted and restated from $207,402 to $155,369, accounts payable and accrued expenses were adjusted from $63,354 to $60,771, VAT payable was adjusted from $101,373 to $0, accumulated other comprehensive loss was adjusted from ($195,203) to ($200,039), retained earnings was adjusted from $930,175 to $873,306, and non-controlling interest was adjusted from $(4,836) to $4,836.