VARIABLE INTEREST ENTITY (Tables)

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SCHEDULE OF CONSOLIDATED FINANCIAL STATEMENTS OF VARIABLE INTEREST ENTITY

	September 30, 2024		December 31, 2023
ASSETS
Current assets
Cash and cash equivalents	$	44,974	$	28,934
Accounts receivable		26,768		26,916
Prepaid expenses and other current assets		—		11,074
Total Current Assets		71,742		66,924
Property and equipment, net		1,799,372		1,799,372
Loans receivables from subsidiaries of the Company		3,101,764		3,060,581
Other assets		2,275		2,275
Total Non-current Assets		4,903,411		4,862,228
Total Assets	$	4,975,153	$	4,929,152
LIABILITIES
Current Liabilities
Accounts payable	$	18,856	$	17,942
Accrued liabilities and other current liabilities		17,824		17,824
Due to related party		2,810,803		2,875,408
Total Current Liabilities		2,847,483		2,911,174
Loan payable to a subsidiary of the Company		8,897,215		9,157,660
Total Non-current Liabilities		8,897,215		9,157,660
Total Liabilities	$	11,744,698	$	12,068,834

SBC MEDICAL GROUP HOLDINGS INCORPORATED

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 3 — VARIABLE INTEREST ENTITY (cont.)

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2024			2023			2024			2023
Revenues	$	40,470		$	41,736		$	229,330		$	122,676
Cost of revenues	$	—		$	15,412		$	56,510		$	46,235
Total operating expenses	$	118,009		$	28,228		$	373,729		$	45,281
Net income (loss)	$	17,461		$	(1,904	)	$	(105,909	)	$	31,160
Net cash provided by (used in) operating activities	$	(18,640	)	$	28,772		$	(120,365	)	$	161,677
Net cash provided by (used in) investing activities	$	45,000		$	(10,000	)	$	95,000		$	(90,000	)
Net cash used in financing activities	$	(15,181	)	$	(31,462	)	$	(64,605	)	$	(114,688	)