2024 Q3 Form 10-K Financial Statement
#000121390024061514 Filed on July 16, 2024
Income Statement
Concept | 2024 Q3 | 2023 Q4 | 2023 |
---|---|---|---|
Revenue | $794.2K | $794.2K | |
YoY Change | -8041.7% | -10.77% | |
Cost Of Revenue | $68.59K | $68.59K | |
YoY Change | -83.27% | -85.09% | |
Gross Profit | $725.6K | $725.6K | |
YoY Change | -272.76% | 68.74% | |
Gross Profit Margin | 91.36% | 91.36% | |
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $66.91K | $381.9K | |
YoY Change | 11.52% | 73.6% | |
% of Gross Profit | 9.22% | 52.64% | |
Operating Expenses | $11.25M | $11.25M | |
YoY Change | 923.04% | 60.08% | |
Operating Profit | -$371.3K | -$10.53M | -$10.53M |
YoY Change | -88.75% | 592.62% | 59.51% |
Interest Expense | $191.1K | $191.1K | |
YoY Change | -1055.55% | -1055.55% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$120.4K | $51.55K | $2.336M |
YoY Change | -161.93% | ||
Pretax Income | -$491.7K | -$8.192M | -$8.192M |
YoY Change | -84.16% | 431.95% | 28.2% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$491.7K | -$9.286M | -$9.286M |
YoY Change | -84.16% | 502.98% | 48.81% |
Net Earnings / Revenue | -1169.26% | -1169.27% | |
Basic Earnings Per Share | -$0.01 | -$0.15 | |
Diluted Earnings Per Share | -$0.01 | -$0.13 | -$0.15 |
COMMON SHARES | |||
Basic Shares Outstanding | 52.81M shares | 60.95M shares | |
Diluted Shares Outstanding | 52.81M shares | 60.95M shares |
Balance Sheet
Concept | 2024 Q3 | 2023 Q4 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $5.428M | $5.428M | |
YoY Change | 4423.19% | 4423.19% | |
Cash & Equivalents | $6.975K | $5.428M | $5.428M |
Short-Term Investments | |||
Other Short-Term Assets | $0.00 | $116.3K | $7.903M |
YoY Change | -100.0% | -1.71% | 2095.29% |
Inventory | |||
Prepaid Expenses | $73.92K | ||
Receivables | $316.8K | $324.4K | $324.4K |
Other Receivables | $3.962M | $3.962M | |
Total Short-Term Assets | $17.16M | $17.62M | $17.62M |
YoY Change | -0.2% | 492.2% | 493.17% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $331.3K | $629.2K | $2.548M |
YoY Change | -58.74% | 62.07% | -1.99% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $240.9K | $379.7K | $379.7K |
YoY Change | -49.31% | -24.43% | -24.05% |
Total Long-Term Assets | $2.260M | $2.928M | $2.928M |
YoY Change | -30.25% | -5.66% | -5.86% |
TOTAL ASSETS | |||
Total Short-Term Assets | $17.16M | $17.62M | $17.62M |
Total Long-Term Assets | $2.260M | $2.928M | $2.928M |
Total Assets | $19.42M | $20.54M | $20.54M |
YoY Change | -4.96% | 238.01% | 237.91% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | $107.8K | $83.94K | $83.94K |
YoY Change | 326.85% | 10.96% | 4.93% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $15.44K | $30.61K | $1.590M |
YoY Change | -96.8% | -97.08% | 51.42% |
Long-Term Debt Due | $3.490M | $3.490M | |
YoY Change | |||
Total Short-Term Liabilities | $8.800M | $7.476M | $7.476M |
YoY Change | 33.5% | 93.29% | 93.19% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $8.800M | $7.476M | $7.476M |
Total Long-Term Liabilities | $0.00 | $0.00 | |
Total Liabilities | $8.800M | $7.476M | $7.476M |
YoY Change | 19.45% | 0.78% | 4.27% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$40.99M | -$38.89M | |
YoY Change | 5.82% | 31.36% | |
Common Stock | $51.47M | $51.47M | |
YoY Change | -0.5% | 113223.83% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $13.07M | $13.07M | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $19.42M | $20.54M | $20.54M |
YoY Change | -4.96% | 238.01% | 237.91% |
Cashflow Statement
Concept | 2024 Q3 | 2023 Q4 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$491.7K | -$9.286M | -$9.286M |
YoY Change | -84.16% | 502.98% | 48.81% |
Depreciation, Depletion And Amortization | $66.91K | $381.9K | |
YoY Change | 11.52% | 73.6% | |
Cash From Operating Activities | -$4.249M | -$15.69M | |
YoY Change | 524.89% | 282.78% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$7.800K | $714.4K | |
YoY Change | -178.0% | 3472.05% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$2.722M | -$3.281M | |
YoY Change | 2374.85% | -344.87% | |
Cash From Investing Activities | -$2.715M | -$3.996M | |
YoY Change | 1988.1% | -402.7% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $10.00M | ||
YoY Change | 418.13% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 560.2K | 24.85M | |
YoY Change | -28.18% | 893.87% | |
NET CHANGE | |||
Cash From Operating Activities | -4.249M | -15.69M | |
Cash From Investing Activities | -2.715M | -3.996M | |
Cash From Financing Activities | 560.2K | 24.85M | |
Net Change In Cash | -6.404M | 5.157M | |
YoY Change | 21245.23% | -1941.74% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$4.249M | -$15.69M | |
Capital Expenditures | -$7.800K | $714.4K | |
Free Cash Flow | -$4.241M | -$16.41M | |
YoY Change | 514.7% | 298.27% |
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-146256 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9285910 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6240247 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
-9407635 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
-6386503 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.13 | |
CY2022 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.12 | |
CY2023 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.02 | |
CY2022 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.02 | |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.15 | |
CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.14 | |
CY2023 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.13 | |
CY2022 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.12 | |
CY2023 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
-0.02 | |
CY2022 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
-0.02 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.15 | |
CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.14 | |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
60949822 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
42959987 | shares |
CY2021Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
2165325 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
241295 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
-6386503 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
-1340515 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
-1340515 | usd |
CY2023 | hryu |
Private Placement Net Of Issuance Costs
PrivatePlacementNetOfIssuanceCosts
|
10 | |
CY2023 | hryu |
Issuance Of Common Stock At By Private Placement
IssuanceOfCommonStockAtByPrivatePlacement
|
10000000 | usd |
CY2023 | hryu |
Initial Public Offering Net Of Issuance Costs
InitialPublicOfferingNetOfIssuanceCosts
|
10 | |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
7708017 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
-27587 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
-9407635 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
13068465 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-8191983 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-5204091 | usd |
CY2023 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
337435 | usd |
CY2022 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
168848 | usd |
CY2023 | us-gaap |
Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
|
3390323 | usd |
CY2023 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
1189511 | usd |
CY2022 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
232207 | usd |
CY2023 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
287487 | usd |
CY2022 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
255357 | usd |
CY2022 | us-gaap |
Loss On Sale Of Investments
LossOnSaleOfInvestments
|
6794 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
193 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-79742 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-935545 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-82317 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
8300910 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
65351 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-77968 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-41642 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2318394 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1329085 | usd |
CY2023 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
19150 | usd |
CY2022 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
52115 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-14717919 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-3485749 | usd |
CY2023 | hryu |
Proceeds From Collection Of Short Term Loans Receivable
ProceedsFromCollectionOfShortTermLoansReceivable
|
4450432 | usd |
CY2022 | hryu |
Proceeds From Collection Of Short Term Loans Receivable
ProceedsFromCollectionOfShortTermLoansReceivable
|
730156 | usd |
CY2023 | us-gaap |
Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
|
1241725 | usd |
CY2022 | us-gaap |
Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
|
1155200 | usd |
CY2022 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
697395 | usd |
CY2023 | hryu |
Payment For Shortterm Loan Receivables
PaymentForShorttermLoanReceivables
|
7673500 | usd |
CY2022 | hryu |
Payment For Shortterm Loan Receivables
PaymentForShorttermLoanReceivables
|
1246625 | usd |
CY2023 | hryu |
Payment For Shortterm Loan Receivable To Related Parties
PaymentForShorttermLoanReceivableToRelatedParties
|
1279518 | usd |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
714409 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
7024 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-3975270 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
1329102 | usd |
CY2023 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
2301134 | usd |
CY2022 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
771083 | usd |
CY2023 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
764903 | usd |
CY2022 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
749642 | usd |
CY2023 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
5717827 | usd |
CY2022 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
2004368 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
10000000 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
7708016 | usd |
CY2023 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
750663 | usd |
CY2022 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
77558 | usd |
CY2023 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
857490 | usd |
CY2022 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
556924 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
24883727 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
2890611 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
6190538 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
733964 | usd |
CY2023 | us-gaap |
Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
|
-976264 | usd |
CY2022 | us-gaap |
Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
|
-610981 | usd |
CY2023 | us-gaap |
Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
-20356 | usd |
CY2022 | us-gaap |
Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
-8186 | usd |
CY2023 | us-gaap |
Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
|
-37044 | usd |
CY2022 | us-gaap |
Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
|
-320090 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
|
-1033664 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
|
-939257 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
118262 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
152755 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
|
696 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
|
177693 | usd |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
118958 | usd |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
330448 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
5427830 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
118262 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
|
696 | usd |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
5427830 | usd |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
118958 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
5156874 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-205293 | usd |
CY2023 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
151998 | usd |
CY2022 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-6197 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
118958 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
330448 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5427830 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
118958 | usd |
CY2023 | hryu |
Cash Receiptpaid For Interest All Operations
CashReceiptpaidForInterestAllOperations
|
70122 | usd |
CY2022 | hryu |
Cash Receiptpaid For Interest All Operations
CashReceiptpaidForInterestAllOperations
|
-8901 | usd |
CY2023 | us-gaap |
Interest Paid Discontinued Operations
InterestPaidDiscontinuedOperations
|
4 | usd |
CY2022 | us-gaap |
Interest Paid Discontinued Operations
InterestPaidDiscontinuedOperations
|
31 | usd |
CY2023 | hryu |
Cash Receiptpaid For Interest Continued Operations
CashReceiptpaidForInterestContinuedOperations
|
70118 | usd |
CY2022 | hryu |
Cash Receiptpaid For Interest Continued Operations
CashReceiptpaidForInterestContinuedOperations
|
-8932 | usd |
CY2023 | hryu |
Cash Receiptpaid During The Period For Interest
CashReceiptpaidDuringThePeriodForInterest
|
70122 | usd |
CY2022 | hryu |
Cash Receiptpaid During The Period For Interest
CashReceiptpaidDuringThePeriodForInterest
|
-8901 | usd |
CY2023 | hryu |
Shortterm Loan Payables Purchase Common Stock
ShorttermLoanPayablesPurchaseCommonStock
|
309430 | shares |
CY2022 | hryu |
Shortterm Loan Payables Purchase Common Stock
ShorttermLoanPayablesPurchaseCommonStock
|
309430 | shares |
CY2023 | us-gaap |
Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
|
392976 | usd |
CY2023 | hryu |
Purchaseinvestmentwarrantsshareofcommonstock
Purchaseinvestmentwarrantsshareofcommonstock
|
500000 | shares |
CY2022 | hryu |
Purchaseinvestmentwarrantsshareofcommonstock
Purchaseinvestmentwarrantsshareofcommonstock
|
500000 | shares |
CY2022 | us-gaap |
Stock Issued1
StockIssued1
|
635000 | usd |
CY2022 | hryu |
Sale Of Investment By Receiving A Nontrade Receivable Due By February282023
SaleOfInvestmentByReceivingANontradeReceivableDueByFebruary282023
|
710171 | usd |
CY2022 | hryu |
Sales Of Investment By Receiving A Nontrade Receivable Due By April302023
SalesOfInvestmentByReceivingANontradeReceivableDueByApril302023
|
867987 | usd |
CY2023 | hryu |
Total Non Cash Activities
TotalNonCashActivities
|
392976 | usd |
CY2022 | hryu |
Total Non Cash Activities
TotalNonCashActivities
|
-943158 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
-9407635 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
-6386503 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-385478 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
233223 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
|
-357891 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
|
-8072 | usd |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-9435222 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-6145208 | usd |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
-236166 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
-138184 | usd |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-9199056 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-6007024 | usd |
CY2023 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 — NATURE OF OPERATIONS AND BASIS OF PRESENTATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Business</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hanryu Holdings, Inc., a Delaware corporation (“<i>Hanryu Holdings</i>”), together with its wholly owned subsidiaries Hanryu Bank Co., Ltd (“<i>HBC</i>”), FNS Co., Ltd. (“<i>FNS</i>”), , and Marine Island Co., Ltd (“<i>Marine Island</i>”), all incorporated under the laws of the Republic of Korea (“<i>Korea</i>” or “<i>ROK</i>”) (collectively, the “<i>Company</i>”, “<i>we</i>”, or “<i>us</i>”), aims to be the leader in the global Korean entertainment market, also known as “<i>Hanryu</i>” or “<i>K-Culture</i>”, through its engaging social-media platform, FANTOO. The FANTOO platform is an all-inclusive global playground for fans, where they can consume, create, and get rewarded for all things related to their interests, and interact with other like-minded fans.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Corporate History</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since the inception of HBC in 2018, we have accomplished a number of key objectives, as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="padding-bottom: 0pt; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 32%; padding-right: 3pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date</b></span></td> <td style="border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 67%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Event/Milestone</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 18, 2018</span></td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC is incorporated under the laws of the ROK with the idea of creating an all-in-one product to capture the growing global momentum and popularity of K-Culture.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 29, 2020</span></td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC establishes FNS,and begins the initial stages of designing and implementing a platform that can create a fandom networking system.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 11, 2021</span></td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC establishes Hanryu Times. Hanryu Times begins operations as HBC’s media outlet, reporting on and providing up-to-date K-Culture news within the FANTOO platform, across a number of languages, including English, Japanese, Chinese (simplified/traditional), Indonesian, Spanish, Russian, and Portuguese.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 31, 2021</span></td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt"><p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC consummates an agreement and plan of merger (the “<i>Merger Agreement</i>”) with RnDeep, Co. Ltd, a Korean corporation (“<i>RnDeep</i>”), pursuant to which RnDeep merged with and into HBC, with HBC continuing as the surviving corporation (the “<i>RnDeep Acquisition</i>”). As consideration for the RnDeep Acquisition, HBC ratably issued a total 4,150,000 HBC common shares, par value $0.45 per share (“<i>Common Shares</i>”), to the former shareholders of RnDeep.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the RnDeep Acquisition, HBC acquired the underlying technologies that the Company plans on utilizing in the future development of new functions and integrations within the FANTOO platform. Once the FANTOO platform is ready to integrate the technology acquired, this technology will support new functions and integrations including, without limitation, the Company’s enterprise resource planning solution, and its artificial intelligence (“<i>AI</i>”), which the Company plans on using to power many of FANTOO’s upcoming features such as speech synthesis, curated content delivery, deepfake detection and blocking, and nudity detection and blocking.</span></p></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">May 17, 2021</span></td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The FANTOO platform is launched and made available to the public.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 30, 2021</span></td> <td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC enters into an agreement to acquire all the issued and outstanding common shares of Marine Island (the “<i>Marine Island Acquisition</i>”), which owns the right to use and occupy 19,200 square-feet of office space within the iconic Seoul Marina, located at 160 Yeouiseo-ro, Yeungdeungpo-gu, Seoul, Korea (the “<i>Seoul Marina</i>”) from Sewang Co., Ltd. (“<i>Sewang</i>”), for the purchase price of 3,500,000,000 Korean Won (“<i>KRW</i>”), along with the assumption of all Marine Island’s liabilities.</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: center"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-top: Black 1.5pt solid; padding-left: 0pt; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 32%; padding-bottom: 0pt; text-indent: 0pt"><p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt"></p> <p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date</b></span></p></td> <td style="border-top: Black 1.5pt solid; padding-left: 0pt; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 1%; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; padding-left: 0pt; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 67%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Event/Milestone</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 30, 2021</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; white-space: nowrap; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC establishes FANTOO Entertainment. FANTOO Entertainment provides a variety of content to the Company’s FANTOO platform, which contributes to the spread of the Korean Wave by promoting new entertainers and artists.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; white-space: nowrap; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 3, 2021</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; white-space: nowrap; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC consummates the Marine Island Acquisition, making it the owner of 100% of the issued and outstanding common shares of Marine Island.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; white-space: nowrap; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 3, 2021</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; white-space: nowrap; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-bottom: 0pt; text-indent: 0pt"><p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC consummates a strategic acquisition of 50.8% of the outstanding common shares of K-Commerce. In consideration for the shares of K-Commerce, HBC forgave a short-term loan of $270,530 (KRW 309,600,000) owed to HBC by K-Commerce.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC’s investment into K-Commerce was a strategic acquisition in order to integrate K-Commerce’s retail platform, “SelloveLive” into the FANTOO ecosystem as the FANTOO Fanshop. When launched as the FANTOO Fanshop, K-Commerce’s platform will offer combined services of shopping and live broadcasting, allowing users to easily live-stream travel and share local attractions, local festivals, cultures, and news from around the world.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to HBC’s acquisition of its shares in K-Commerce, K-Commerce was 100% owned by Changhyuk Kang, the Company’s Chief Executive Officer and Donghoon Park, the Company’s Chief Marketing Officer.</span></p></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; white-space: nowrap; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 20, 2021</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; white-space: nowrap; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hanryu Holdings is incorporated in the State of Delaware.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; white-space: nowrap; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-bottom: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 25, 2022 through May 10, 2022</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; white-space: nowrap; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-bottom: 0pt; text-indent: 0pt"><p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hanryu Holdings, HBC, and the shareholders of HBC (the “<i>HBC Shareholders</i>”) enter into a share exchange agreement (the “<i>Share Exchange Agreement</i>”), pursuant to which the HBC Shareholders agreed to assign, transfer, and deliver, free and clear of all liens, 100% of the issued and outstanding Common Shares, representing 100% of the voting securities in HBC, to the Company in exchange for the Company issuing 42,565,786 restricted shares of the Company’s common stock, par value $0.001 per share (“<i>Common Stock</i>”) to the HBC Shareholders (the “<i>Share Exchange</i>”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Concurrently with entering into the Share Exchange Agreement, the Company, HBC, and the holders (the “<i>HBC Warrantholders</i>”) of all outstanding warrants to purchase Common Shares (“<i>HBC Warrants</i>”) enter into a warrant exchange agreement, pursuant to which the HBC Warrantholders agreed to assign, transfer, and delivery, free and clear of any liens, 100% of the outstanding HBC Warrants to the Company in exchange for the Company issuing to the HBC Warrantholders 10,046,666 warrants to purchase restricted shares of Common Stock (the “<i>Warrant Exchange</i>”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Warrants and Common Shares of HBC transferred to the Company in the Share Exchange and the Warrant Exchange constituted 100% of the outstanding equity securities of HBC.</span></p></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="padding-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; white-space: nowrap; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-bottom: 0pt; text-indent: 0pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 16, 2022<br/> <br/> <br/> <br/></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 22, 2022</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 1, 2023</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 28, 2023</span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; white-space: nowrap; padding-bottom: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; padding-bottom: 0pt; text-indent: 0pt"><p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hanryu Holdings, HBC, the HBC Shareholders, and the HBC Warrantholders consummate the Share Exchange and Warrant Exchange concurrently, pursuant to which HBC became a wholly owned subsidiary of the Company, and the HBC Stockholders and HBC Warrantholders, collectively, acquired a controlling interest in the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company divests itself of all Kingdom Coin (“<i>KDC</i>”) holdings and terminates all crypto-currency-related activity, including, without limitation, the operation of the MainNet (FandomChain) and the Kingdom Wallet, pursuant to a Business Transfer Agreement (the “<i>Divestiture Agreement</i>”) between HBC and an unaffiliated and unrelated third party, Kingdom Coin Holdings, a Cayman Islands Foundation Company (the “<i>KDC Foundation</i>”) (the “<i>KDC Divestiture</i>”), to substantially reduce its involvement with blockchain technologies. Pursuant to the Divestiture Agreement, as of June 22, 2022, the Company no longer owns any KDC, and no longer conducts or controls the operations, issuances, or sales of KDC. In connection with the KDC Divestiture, the Company revised its procedures regarding FP and no longer allows, nor has the technology to allow, for the transfer of FP outside of the FANTOO platform or the exchange of FP and KDC</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The shares of the Company are listed at NASDAQ exchange market.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HBC sold owned whole shares of Hanryu Times, Fantoo Entertainment, and K-Commerce, so the business from the three companies became the discontinued operations.</span></p></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: center"> </p><p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Risks and Uncertainties</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is subject to a number of risks similar to other companies in its industries, including rapid technological change and transitions in Hanryu trends. The extent of the impact of the COVID-19 pandemic on the Company’s business continues to be highly uncertain and difficult to predict, as the responses that the Company, other businesses and governments are taking continue to evolve. Furthermore, capital markets and economies worldwide have also been negatively impacted by the COVID-19 pandemic, and it is possible that it could cause a lasting national and/or global economic recession. Policymakers around the globe have responded with fiscal policy actions to support the entertainment industry and economy as a whole.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">To date, the Company has experienced significant changes in the business as a result of the COVID-19 pandemic. The impact has delayed the Company’s ability to generate revenue as result of the diversification of potential customer budgets towards the COVID-19 pandemic. The extent to which the COVID-19 pandemic may in the future materially impact the Company’s financial condition, liquidity or results of operations is uncertain.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Going Concern</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has experienced recurring losses from operations and has a stockholders’ equity(deficit) and working capital of </span><span style="font-size: 8pt"> </span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$13,068,465 and $10,140,579 respectively, as of December 31, 2023 and </span><span style="font-size: 8pt"> </span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$(1,340,515), </span><span style="font-size: 8pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $(757,981) as of December 31, 2022. Also, the Company has operating losses of $10,527,845 and $5,421,525 for the years ended December 31, 2023 and December 31, 2022, respectively. These uncertainties raise substantial doubt about the Company’s ability to continue as a going concern for twelve (12) months after the issuance date of these financial statements. The accompanying financial statements have been prepared under the assumption that we will continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of us to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our future operations are dependent upon multiple factors, including (i) the success of our FANTOO platform business; (ii) competition from existing and future services from other companies; and (iii) securing new sources of capital to fund operations and develop markets. We will maintain an ongoing effort to improve and innovate FANTOO platform business to generate funds for our operations. For instance, we recently launched FANTOO House which is located in Seoul, and at FANTOO platform, we will launch (i) Epic branded ecommerce platform that we will expect it as a major source of new income, and (ii) dedicated video production operations that will create short episodic content that focuses on K-POP fandom. In addition, we maintain an ongoing effort to raise funds for our operations from current investors and new sources of capital through the issuance of additional common stock and/or short-term notes. However, there can be no assurance as to the outcome of these factors or that future funding efforts will generate sufficient capital to maintain our operations.</p> | |
CY2021Q1 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
4150000 | shares |
CY2021Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.45 | |
CY2021Q2 | us-gaap |
Area Of Land
AreaOfLand
|
19200 | sqft |
CY2021Q2 | us-gaap |
Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
|
3500000000 | krw |
CY2021Q4 | hryu |
Common Shares Issuedand Outstanding
CommonSharesIssuedandOutstanding
|
1 | pure |
CY2021Q4 | hryu |
Outstanding Share Percentage
OutstandingSharePercentage
|
0.508 | pure |
CY2021Q4 | us-gaap |
Other Short Term Borrowings
OtherShortTermBorrowings
|
270530 | usd |
CY2021Q4 | us-gaap |
Other Short Term Borrowings
OtherShortTermBorrowings
|
309600000 | krw |
CY2022Q2 | hryu |
Common Shares Issuedand Outstanding
CommonSharesIssuedandOutstanding
|
1 | pure |
CY2022Q2 | hryu |
Voting Right Percentage
VotingRightPercentage
|
1 | pure |
CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
|
42565786 | shares |
CY2022Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q2 | hryu |
Warrants And Rights Outstanding Percentage
WarrantsAndRightsOutstandingPercentage
|
1 | pure |
CY2022Q2 | hryu |
Warrant To Purchase Restricted Shares
WarrantToPurchaseRestrictedShares
|
10046666 | shares |
CY2023Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
13068465 | usd |
CY2023Q4 | hryu |
Working Capital
WorkingCapital
|
-10140579 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
-1340515 | usd |
CY2022Q4 | hryu |
Working Capital
WorkingCapital
|
757981 | usd |
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-10527845 | usd |
CY2022 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-5421525 | usd |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the Company’s consolidated financial statements and related disclosures in conformity with U.S. Generally Accepted Accounting Principles (“<i>US GAAP</i>”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Management evaluates its estimates on an ongoing basis. Although estimates are based on the Company’s historical experience, knowledge of current events and actions it may undertake in the future, actual results may materially differ from these estimates and assumptions.</span></p> | |
CY2023Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
0 | usd |
CY2022Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
0 | usd |
CY2023 | us-gaap |
Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Revenue Recognition</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company anticipates generating revenues from (i) FANTOO platform through advertising, direct sales, and user to user commissions, and (ii) other businesses. Revenue billed or collected in advance will be recorded as deferred revenue until the event occurs or until applicable performance obligations are satisfied.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue is recognized when the Company transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods and services. In this regard, revenue is recognized when: (i) the parties to the contract have approved the contract (in writing, orally, or in accordance with other customary business practices) and are committed to perform their respective obligations; (ii) the entity can identify each party’s rights regarding the goods or services to be transferred; (iii) the entity can identify the payment terms for the goods or services to be transferred; (iv) the contract has commercial substance (that is, the risk, timing, or amount of the entity’s future cash flows is expected to change as a result of the contract); and (v) it is probable that the entity will collect substantially all of the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transaction prices are based on the amount of consideration to which we expect to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties, if any. We consider the explicit terms of the revenue contract, which are typically written and executed by the parties, our customary business practices, the nature, timing, and the amount of consideration promised by a customer in connection with determining the transaction price for our revenue arrangements. Refunds and sales returns historically have not been material.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2023 and December 31, 2022, the Company recognized product sales revenue amounting to $71,242 and $0. Revenue is derived at the point in time when merchandise is sold and shipped or delivered to customers. Merchandise sales are fulfilled with inventory sourced from our owned inventory. Although the Company does not currently have any inventory as of the balance sheet date, the Company, from time to time, may hold products in inventory for an abbreviated amount of time before shipping such inventory and recognizing the corresponding revenue.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue is recognized when control of the product passes to the customer, typically at the date of delivery of the merchandise to the customer, or the date a service is provided and is recognized in an amount that reflects the expected consideration to be received in exchange for such goods or services. As such, customer orders are recorded as unearned revenue prior to delivery of products or services ordered. If the Company ships high volumes of packages through multiple carriers, the Company will use estimates to determine which shipments are to be delivered and, therefore, recognized as revenue at the end of the period. Delivery date estimates are based on average shipping transit times, which are calculated using the following factors: (i) the type of shipping carrier (as carriers have different in-transit times); (ii) the fulfilment source; (iii) the delivery destination; and (iv) actual transit time experience, which shows that delivery date is typically one to eight business days from the date of shipment. The Company reviews and updates our estimates on a quarterly basis based on our actual transit time experience. However, actual shipping times may differ from our estimates.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Generally, the Company requires authorization from credit cards or other payment vendors whose services the Company offers to customers or verification of receipt of payment, before the Company ships products to purchasers. The Company generally receives payments from our customers before our payments to our suppliers are due. The Company does not recognize assets associated with costs to obtain or fulfill a contract with a customer.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shipping and handling is considered a fulfillment activity, as it takes place prior to the customer obtaining control of the merchandise, and fees charged to customers are included in net revenue upon completion of our performance obligations. The Company presents revenue net of sales taxes, discounts, and expected refunds.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Merchandise sales contracts include terms that could cause variability in the transaction price for items such as discounts, credits, or sales returns. Accordingly, the transaction price for product sales includes estimates of variable consideration to the extent it is probable that a significant reversal of revenue recognized will not occur. At the time of sale, the Company estimates a sales return liability for the variable consideration based on historical experience, which is recorded within “Accrued Liabilities” in the consolidated balance sheet. The Company records an allowance for returns based on current period revenues and historical returns experience. The Company analyzes actual historical returns, current economic trends and changes in order volume, and acceptance of our products when evaluating the adequacy of the sales returns allowance in any accounting period.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates the criteria outlined in the Financial Accounting Standards Board (“<i>FASB</i>”) Accounting Standards Codification (“<i>ASC</i>”) 606-10-55, <i>Principal versus Agent Considerations</i>, in determining whether it is appropriate to record the gross amount of merchandise sales and related costs or the net amount earned as commissions. When the Company is the principal in a transaction and controls the specific good or service before it is transferred to the customer, revenue is recorded gross; otherwise, revenue is recorded on a net basis. Currently, the Company records all advertising revenue as a net basis, and other revenues are recorded as a gross basis, and the revenues as a gross basis for the years ended December 31, 2023 and December 31, 2022 are $1,014,266 and $889,045. Through contractual terms with our partners, we have the ability to control the promised goods or services and as a result record the majority of the revenue on a gross basis.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The customers and sales amount with more than 10% of total revenue as a gross basis for the years ended December 31, 2023 and December 31, 2022 are as follows, and they are the advertising revenue.</span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fiscal Year</b></span></td> <td> </td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Customer</b></span></td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sales Amount</b></span></td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></span></td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: left; width: 64%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023</b></span></td> <td style="width: 1%"> </td> <td style="width: 11%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A</b></span></td> <td style="width: 1%"> </td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>191,511</b></span></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>19</b></span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></span></td></tr> <tr style="vertical-align: bottom; "> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023</b></span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>B</b></span></td> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>696,403</b></span></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>69</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></span></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2022</b></span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>C</b></span></td> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>774,024</b></span></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>87</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>%</b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"> </p> | |
CY2023 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
71242 | usd |
CY2022 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
0 | usd |
CY2023Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
1014266 | usd |
CY2022Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
889045 | usd |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Concentrations of Credit Risk</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; padding: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents are financial instruments that potentially subject the Company to concentrations of credit risk. The Company may maintain deposits in financial institutions in excess of government insured limits. The Company believes that it is not exposed to significant credit risk as its deposits are held at financial institutions that management believes to be of high credit quality and the Company has not experienced any losses on these deposits. The Company is also potentially subject to concentrations of credit risk in its accounts receivable and loans. Credit risk with respect to receivables is limited due to the number of companies comprising the Company’s customer base. Credit risk with respect to loans is limited since they are made principally related to the collaborative activities between the Company and loan holders. Since the Company is directly affected by the financial condition of its customers and loan holders, management carefully watch if any significant credit risks exist, and they will make actions to remove or mitigate such risks if there are any. For the years ended December 31, 2023 and December 31, 2022, over 10% of the revenues are from two customers and one customer, but there are no receivable balances from them. Also, over 10% of the account receivable for the year ended December 31, 2023 is from Hanryu Times, which was the affiliated company by December 28, 2023, and Hanryu Times and the company already agreed to the payment plan that Hanryu Times would pay back all by the end of December 31, 2024. Therefore, as of December 31, 2023 and December 31, 2022, the Company believes that the credit risk for the account receivables is manageable and controllable. Generally, the Company does not require collateral or other securities to support its accounts receivable and loans.</span></p> | |
CY2023Q4 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
30613 | usd |
CY2022Q4 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
0 | usd |
CY2023Q4 | us-gaap |
Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
|
3789900 | usd |
CY2022Q4 | us-gaap |
Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
|
513356 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
7903035 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
360518 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1282526 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
570243 | usd |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
653341 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
317153 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
629185 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
253090 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
381917 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
215111 | usd |
CY2022Q4 | us-gaap |
Other Investments
OtherInvestments
|
1695299 | usd |
CY2022 | hryu |
Investment Company Net Asset Value Per Share Period Increase
InvestmentCompanyNetAssetValuePerSharePeriodIncrease
|
635000 | usd |
CY2022 | us-gaap |
Investment Company Net Asset Value Per Share Period Increase Decrease
InvestmentCompanyNetAssetValuePerSharePeriodIncreaseDecrease
|
-2183822 | |
CY2022 | us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
-6794 | usd |
CY2022 | hryu |
Translation Adjustmentof Investments
TranslationAdjustmentofInvestments
|
-139683 | usd |
CY2021Q4 | us-gaap |
Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
|
1687052 | usd |
CY2021Q4 | us-gaap |
Class Of Warrant Or Right Reason For Issuing To Nonemployees
ClassOfWarrantOrRightReasonForIssuingToNonemployees
|
(i) warrants to purchase 666,666 Common Shares of HBC, valued at $873,805; and (ii) distribution of 100,000,000 KDC | |
CY2023Q4 | us-gaap |
Fair Value Investments Entities That Calculate Net Asset Value Per Share Percent Debt Securities
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerSharePercentDebtSecurities
|
0.10 | pure |
CY2022Q4 | us-gaap |
Fair Value Investments Entities That Calculate Net Asset Value Per Share Percent Debt Securities
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerSharePercentDebtSecurities
|
0.10 | pure |
CY2022Q1 | hryu |
Cash Consideration
CashConsideration
|
696621 | usd |
CY2022 | us-gaap |
Foreign Currency Transaction Gain Before Tax
ForeignCurrencyTransactionGainBeforeTax
|
139004 | usd |
CY2022Q4 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
635000 | usd |
CY2022Q1 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2025-01-27 | |
CY2022Q4 | us-gaap |
Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
|
500000 | shares |
CY2022 | us-gaap |
Restructuring Reserve Translation And Other Adjustment
RestructuringReserveTranslationAndOtherAdjustment
|
75171 | usd |
CY2023Q4 | us-gaap |
Contractual Obligation
ContractualObligation
|
2943905 | usd |
CY2023 | us-gaap |
Description Of Net Investment Hedge Activity
DescriptionOfNetInvestmentHedgeActivity
|
(1) $8,247 to the purchase SMC Shares at a price of $0.87 per share, constituting 24.53% of the issued and outstanding common shares of SMC; and (2) $2,935,658 to SMC Receivable and the Lien, calculated by determining the present value of leasing the Seoul Marina facilities for free over 10 years. Sewang received $2,009,752 in the form of 23,000,000 KDC, and the remaining $934,153 in the form of cash. | |
CY2022Q4 | us-gaap |
Increase Decrease Of Restricted Investments
IncreaseDecreaseOfRestrictedInvestments
|
8247 | usd |
CY2022Q4 | us-gaap |
Temporary Equity Foreign Currency Translation Adjustments
TemporaryEquityForeignCurrencyTranslationAdjustments
|
679 | usd |
CY2022 | us-gaap |
Loss On Sale Of Investments
LossOnSaleOfInvestments
|
6794 | usd |
CY2023 | us-gaap |
Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
|
0.87 | |
CY2023Q4 | us-gaap |
Area Of Land
AreaOfLand
|
19200 | sqft |
CY2023 | us-gaap |
Lease Cost
LeaseCost
|
300000000 | kpw |
CY2023 | us-gaap |
Present Value Of Future Insurance Profits Weighted Average Amortization Period
PresentValueOfFutureInsuranceProfitsWeightedAverageAmortizationPeriod
|
P10Y | |
CY2023 | hryu |
Annual Rent Increase
AnnualRentIncrease
|
-0.0496 | pure |
CY2023Q4 | us-gaap |
Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
|
-0.03 | pure |
CY2023 | us-gaap |
Standby Bond Purchase Commitment Expiration Period
StandbyBondPurchaseCommitmentExpirationPeriod
|
P10Y | |
CY2023Q4 | us-gaap |
Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
|
0.0211 | pure |
CY2021Q2 | us-gaap |
Prepaid Rent
PrepaidRent
|
2775512 | usd |
CY2023Q4 | hryu |
Amortization Of Rightofuse Asset
AmortizationOfRightofuseAsset
|
23000 | usd |
CY2021 | hryu |
Initially Allocated Value
InitiallyAllocatedValue
|
2935658 | usd |
CY2021 | us-gaap |
Impairment Of Leasehold
ImpairmentOfLeasehold
|
158278 | usd |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1918966 | usd |
CY2022Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
2212754 | usd |
CY2023 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
287487 | usd |
CY2022 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
255357 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P8Y | |
CY2023Q4 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.03 | pure |
CY2023Q4 | us-gaap |
Loans Payable Current
LoansPayableCurrent
|
1589887 | usd |
CY2022Q4 | us-gaap |
Loans Payable Current
LoansPayableCurrent
|
722797 | usd |
CY2023 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
2595 | usd |
CY2022 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
8989 | usd |
CY2022Q4 | us-gaap |
Other Loans Payable Current
OtherLoansPayableCurrent
|
259593 | usd |
CY2023 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
|
0.42 | |
CY2023 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
|
1.27 | |
CY2020Q1 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2023-03-17 | |
CY2023Q2 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2023-05-06 | |
CY2023Q4 | us-gaap |
Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
|
2586850 | usd |
CY2021Q2 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2022-03-31 | |
CY2021Q3 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2024-07-01 | |
CY2021Q3 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2024-07-02 | |
CY2021Q1 | us-gaap |
Equity Method Investment Aggregate Cost
EquityMethodInvestmentAggregateCost
|
1687906 | usd |
CY2021Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
3795867 | usd |
CY2020Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
6709559 | usd |
CY2021Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
3795867 | usd |
CY2022 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-245011 | usd |
CY2022Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
3550856 | usd |
CY2023 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-60861 | usd |
CY2023Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
3489995 | usd |
CY2023Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
3489995 | usd |
CY2021Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
3666666 | shares |
CY2021 | us-gaap |
Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
|
691267 | usd |
CY2021Q3 | hryu |
Aggregate Warrants
AggregateWarrants
|
13077455 | shares |
CY2021Q3 | hryu |
Aggregate Warrants
AggregateWarrants
|
13077455 | shares |
CY2021Q3 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
10077455 | shares |
CY2021Q3 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
3000000 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.4336 | pure |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.47 | |
CY2023 | hryu |
Shortterm Loan Payables Purchase Common Stock
ShorttermLoanPayablesPurchaseCommonStock
|
309430 | shares |
CY2022 | hryu |
Shortterm Loan Payables Purchase Common Stock
ShorttermLoanPayablesPurchaseCommonStock
|
309430 | shares |
CY2023 | us-gaap |
Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
|
392976 | usd |
CY2023 | hryu |
Purchaseinvestmentwarrantsshareofcommonstock
Purchaseinvestmentwarrantsshareofcommonstock
|
500000 | shares |
CY2022 | hryu |
Purchaseinvestmentwarrantsshareofcommonstock
Purchaseinvestmentwarrantsshareofcommonstock
|
500000 | shares |
CY2022 | us-gaap |
Stock Issued1
StockIssued1
|
635000 | usd |
CY2022 | hryu |
Sale Of Investment By Receiving A Nontrade Receivable Due By February282023
SaleOfInvestmentByReceivingANontradeReceivableDueByFebruary282023
|
710171 | usd |
CY2022 | hryu |
Sales Of Investment By Receiving A Nontrade Receivable Due By April302023
SalesOfInvestmentByReceivingANontradeReceivableDueByApril302023
|
867987 | usd |
CY2023 | hryu |
Total Non Cash Activities
TotalNonCashActivities
|
392976 | usd |
CY2022 | hryu |
Total Non Cash Activities
TotalNonCashActivities
|
-943158 | usd |
CY2023Q4 | us-gaap |
Notes And Loans Payable
NotesAndLoansPayable
|
392976 | usd |
CY2022Q4 | us-gaap |
Nontrade Receivables
NontradeReceivables
|
1578158 | usd |
CY2023Q4 | us-gaap |
Crypto Asset Number Of Units
CryptoAssetNumberOfUnits
|
3000000 | kdc |
CY2023Q4 | us-gaap |
Debt Current
DebtCurrent
|
232207 | usd |
CY2022 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
232207 | usd |
CY2023 | us-gaap |
Sales Commissions And Fees
SalesCommissionsAndFees
|
74000000 | usd |
CY2023 | us-gaap |
Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
|
0.10 | pure |
CY2023Q4 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.15 | pure |
CY2023 | hryu |
Percentage Of Total Assets
PercentageOfTotalAssets
|
0.20 | pure |
CY2023Q4 | us-gaap |
Investment Owned Percent Of Net Assets
InvestmentOwnedPercentOfNetAssets
|
0.30 | pure |
CY2023 | hryu |
Income Percentage
IncomePercentage
|
0.15 | pure |
CY2023Q4 | us-gaap |
Capital Units Authorized
CapitalUnitsAuthorized
|
110000000 | shares |
CY2022Q4 | us-gaap |
Capital Units Authorized
CapitalUnitsAuthorized
|
110000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2023 | hryu |
Undesignated Preferred Stock
UndesignatedPreferredStock
|
10000000 | shares |
CY2022 | hryu |
Undesignated Preferred Stock
UndesignatedPreferredStock
|
10000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q1 | hryu |
Warrants Exercised
WarrantsExercised
|
1813120 | usd |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.27 | |
CY2023Q1 | hryu |
Foreign Exchange Effect Exercised
ForeignExchangeEffectExercised
|
1420144 | usd |
CY2023Q1 | us-gaap |
Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
|
392776 | usd |
CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
240000 | shares |
CY2023Q1 | us-gaap |
Share Price
SharePrice
|
10 | |
CY2023Q1 | us-gaap |
Share Price
SharePrice
|
10 | |
CY2023Q1 | hryu |
Gross Proceeds
GrossProceeds
|
2400000 | usd |
CY2023Q1 | hryu |
Gross Proceeds
GrossProceeds
|
2400000 | usd |
CY2023Q1 | us-gaap |
Common Stock Value Outstanding
CommonStockValueOutstanding
|
2400000 | usd |
CY2023Q1 | us-gaap |
Common Stock Value Outstanding
CommonStockValueOutstanding
|
2400000 | usd |
CY2023Q1 | hryu |
Warrants Exercised
WarrantsExercised
|
8400 | usd |
CY2023Q2 | hryu |
Warrants Exercised
WarrantsExercised
|
420000 | usd |
CY2023Q2 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
0.42 | |
CY2023Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
1000000 | shares |
CY2023Q2 | hryu |
Warrants Exercised
WarrantsExercised
|
3894666 | usd |
CY2023Q2 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.27 | |
CY2023Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
3066666 | shares |
CY2023Q2 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
760000 | shares |
CY2023Q2 | us-gaap |
Share Price
SharePrice
|
10 | |
CY2023Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
8773280 | usd |
CY2023Q2 | hryu |
Underwriting Discounts
UnderwritingDiscounts
|
7700000 | usd |
CY2023 | hryu |
Option Purchase Additional Shares
OptionPurchaseAdditionalShares
|
131599 | shares |
CY2023 | hryu |
Percentage Of Common Shares
PercentageOfCommonShares
|
0.15 | pure |
CY2023 | hryu |
Percentage Of Aggregate Shares
PercentageOfAggregateShares
|
0.05 | pure |
CY2023 | us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
one | |
CY2023Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
116333 | usd |
CY2022Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
118362 | usd |
CY2023Q4 | us-gaap |
Deposit Contracts Assets
DepositContractsAssets
|
64725 | usd |
CY2023Q4 | us-gaap |
Other Expenses
OtherExpenses
|
51554 | usd |
CY2023 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
112368 | usd |
CY2022 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
140070 | usd |
CY2022Q4 | us-gaap |
Short Term Non Bank Loans And Notes Payable
ShortTermNonBankLoansAndNotesPayable
|
259593 | usd |
CY2021Q4 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2023-12-07 | |
CY2022Q1 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2023-01-27 | |
CY2022Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
15782 | usd |
CY2022Q2 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2023-04-04 | |
CY2022Q2 | us-gaap |
Cash
Cash
|
31563 | usd |
CY2021Q1 | us-gaap |
Securities Borrowed Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
SecuritiesBorrowedOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
|
486366 | usd |
CY2021 | hryu |
Aggregate Amount
AggregateAmount
|
331479 | usd |
CY2021Q1 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2022-05-29 | |
CY2021Q4 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2022-11-14 | |
CY2021Q4 | us-gaap |
Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
|
337410 | usd |
CY2021Q4 | us-gaap |
Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
|
1518347 | usd |
CY2021Q4 | us-gaap |
Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
|
200905 | usd |
CY2021Q4 | us-gaap |
Shares Issued
SharesIssued
|
295000 | shares |
CY2022Q1 | us-gaap |
Cash
Cash
|
315632 | usd |
CY2022Q1 | us-gaap |
Cash
Cash
|
236724 | usd |
CY2022Q2 | us-gaap |
Cash
Cash
|
236724 | usd |
CY2022Q2 | us-gaap |
Cash
Cash
|
164523 | usd |
CY2022Q4 | us-gaap |
Cash
Cash
|
15401 | usd |
CY2023Q1 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2024-01-10 | |
CY2021Q4 | us-gaap |
Dividends Cash
DividendsCash
|
610247 | usd |
CY2022Q4 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
149122 | usd |
CY2023Q1 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
500492 | usd |
CY2022Q2 | us-gaap |
Dividends Cash
DividendsCash
|
140375 | usd |
CY2022Q4 | hryu |
Aggregate Amount
AggregateAmount
|
38778 | usd |
CY2022Q4 | us-gaap |
Dividends Cash
DividendsCash
|
140375 | usd |
CY2023Q3 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
2555 | usd |
CY2022Q4 | us-gaap |
Investment Maturity Date
InvestmentMaturityDate
|
2025-01-27 | |
CY2022Q4 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
95272 | usd |
CY2022Q4 | hryu |
Securities Outstanding Percentage
SecuritiesOutstandingPercentage
|
0.10 | pure |
CY2023Q4 | hryu |
Bonds With Warrants Net Current
BondsWithWarrantsNetCurrent
|
3489995 | usd |
CY2023Q4 | us-gaap |
Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
|
2024-07-02 | |
CY2023Q4 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
usd | |
CY2023Q4 | hryu |
Shortterm Loans Payable From Related Parties
ShorttermLoansPayableFromRelatedParties
|
usd | |
CY2022Q4 | hryu |
Bonds With Warrants Net Current
BondsWithWarrantsNetCurrent
|
usd | |
CY2023Q4 | hryu |
Bonds With Warrants Net
BondsWithWarrantsNet
|
usd | |
CY2023Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2023Q4 | us-gaap |
Minority Interest
MinorityInterest
|
usd | |
CY2022 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
usd | |
CY2023 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
usd | |
CY2022 | us-gaap |
Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
|
usd | |
CY2023 | us-gaap |
Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
|
usd | |
CY2022 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
usd | |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2023 | us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
usd | |
CY2022 | us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
usd | |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
42959987 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
60949822 | shares |
CY2022 | us-gaap |
Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
|
usd | |
CY2022 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
usd | |
CY2023 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
usd | |
CY2023 | us-gaap |
Loss On Sale Of Investments
LossOnSaleOfInvestments
|
usd | |
CY2022 | us-gaap |
Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
|
usd | |
CY2023 | us-gaap |
Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
|
usd | |
CY2023 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
usd | |
CY2022 | hryu |
Payment For Shortterm Loan Receivable To Related Parties
PaymentForShorttermLoanReceivableToRelatedParties
|
usd | |
CY2022 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | |
CY2022 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
|
usd | |
CY2022 | us-gaap |
Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
|
usd | |
CY2023 | us-gaap |
Stock Issued1
StockIssued1
|
usd | |
CY2023 | hryu |
Sale Of Investment By Receiving A Nontrade Receivable Due By February282023
SaleOfInvestmentByReceivingANontradeReceivableDueByFebruary282023
|
usd | |
CY2023 | hryu |
Sales Of Investment By Receiving A Nontrade Receivable Due By April302023
SalesOfInvestmentByReceivingANontradeReceivableDueByApril302023
|
usd | |
CY2023Q4 | us-gaap |
Investments
Investments
|
usd | |
CY2022Q4 | us-gaap |
Investments
Investments
|
usd | |
CY2023Q4 | us-gaap |
Other Loans Payable Current
OtherLoansPayableCurrent
|
usd | |
CY2022 | us-gaap |
Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
|
usd | |
CY2023Q4 | us-gaap |
Short Term Non Bank Loans And Notes Payable
ShortTermNonBankLoansAndNotesPayable
|
usd | |
CY2023 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2023 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001911545 |