2023 Q4 Form 20-F Financial Statement

#000173112224001097 Filed on July 11, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022 Q4
Revenue $280.0K $280.0K $2.926M
YoY Change -90.43% -94.91% -43.24%
Cost Of Revenue $125.3K $125.3K $1.867M
YoY Change -93.29% -96.45% -48.56%
Gross Profit $154.7K $154.7K $1.059M
YoY Change -85.39% -92.18% -30.58%
Gross Profit Margin 55.26% 55.26% 36.2%
Selling, General & Admin $2.456M $3.311M $4.651M
YoY Change -47.18% -68.19% -30.79%
% of Gross Profit 1587.58% 2139.97% 439.07%
Research & Development $931.3K
YoY Change -39.64%
% of Gross Profit 87.92%
Depreciation & Amortization $786.2K
YoY Change
% of Gross Profit 74.22%
Operating Expenses $2.456M $3.311M $5.582M
YoY Change -55.99% -79.76% -32.44%
Operating Profit -$2.302M -$3.156M -$4.523M
YoY Change -49.11% -78.06% -32.86%
Interest Expense -$735.6K $736.9K -$1.341M
YoY Change -45.16% -49.2% 335.16%
% of Operating Profit
Other Income/Expense, Net -$17.63M -$18.28M $60.45K
YoY Change -29268.19% 873.07% -87.81%
Pretax Income -$20.67M -$21.44M -$8.435M
YoY Change 145.05% 31.82% 7.19%
Income Tax $0.00 -$39.52K
% Of Pretax Income
Net Earnings $2.007M -$2.577M -$7.516M
YoY Change -126.7% -83.12% -5.42%
Net Earnings / Revenue 716.82% -920.19% -256.88%
Basic Earnings Per Share -$6.55
Diluted Earnings Per Share $2.64 -$6.55 -$5.86
COMMON SHARES
Basic Shares Outstanding 1.343M shares 393.6K shares 19.09M shares
Diluted Shares Outstanding 393.6K shares

Balance Sheet

Concept 2023 Q4 2023 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $52.66K $52.66K $7.743M
YoY Change -99.32% -99.32%
Cash & Equivalents $486.2K $1.039M
Short-Term Investments $0.00 $0.00 $6.704M
Other Short-Term Assets $10.56K $10.56K $202.1K
YoY Change -94.77% -99.79% -60.49%
Inventory
Prepaid Expenses $10.56K
Receivables $180.0K $180.0K $402.3K
Other Receivables $5.223M $5.225M $99.41K
Total Short-Term Assets $5.468M $5.468M $13.37M
YoY Change -59.12% -59.12% -34.34%
LONG-TERM ASSETS
Property, Plant & Equipment $153.5K
YoY Change -39.7%
Goodwill $478.7K
YoY Change -76.18%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $52.19M $52.19M $18.99K
YoY Change 274717.06% 274717.06%
Total Long-Term Assets $52.19M $52.19M $3.261M
YoY Change 1500.49% 1500.49% -59.8%
TOTAL ASSETS
Total Short-Term Assets $5.468M $5.468M $13.37M
Total Long-Term Assets $52.19M $52.19M $3.261M
Total Assets $57.66M $57.66M $16.63M
YoY Change 246.61% 246.61% -41.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.40K $62.40K $3.216M
YoY Change -98.06% -98.06% -29.0%
Accrued Expenses $984.8K
YoY Change -30.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $3.548M
YoY Change 1132.03%
Total Short-Term Liabilities $63.00K $63.00K $10.11M
YoY Change -99.38% -99.38% -17.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $18.17K
YoY Change -100.0% -100.0% -92.03%
Other Long-Term Liabilities $0.00 $0.00 $8.600K
YoY Change -100.0% -100.0% -100.16%
Total Long-Term Liabilities $0.00 $26.77K
YoY Change -100.0% -100.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $63.00K $63.00K $10.11M
Total Long-Term Liabilities $0.00 $26.77K
Total Liabilities $63.00K $63.00K $10.13M
YoY Change -99.38% -99.37% -19.45%
SHAREHOLDERS EQUITY
Retained Earnings -$24.60M -$28.07M
YoY Change -12.33% 119.28%
Common Stock $13.00 $95.47K
YoY Change -99.99% 274.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $57.59M $57.59M $6.577M
YoY Change
Total Liabilities & Shareholders Equity $57.66M $57.66M $16.63M
YoY Change 246.61% 246.61% -41.59%

Cashflow Statement

Concept 2023 Q4 2023 2022 Q4
OPERATING ACTIVITIES
Net Income $2.007M -$2.577M -$7.516M
YoY Change -126.7% -83.12% -5.42%
Depreciation, Depletion And Amortization $786.2K
YoY Change
Cash From Operating Activities -$262.8K -$2.720M -$1.240M
YoY Change -78.81% -48.03%
INVESTING ACTIVITIES
Capital Expenditures $470.8K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$45.39M -$47.37M -$4.800M
YoY Change 845.6% 886.95%
Cash From Investing Activities -$45.39M -$47.37M -$5.271M
YoY Change 761.13% 798.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 45.74M $49.57M 6.272M
YoY Change 629.28% 794.91%
NET CHANGE
Cash From Operating Activities -262.8K -$2.720M -1.240M
Cash From Investing Activities -45.39M -$47.37M -5.271M
Cash From Financing Activities 45.74M $49.57M 6.272M
Net Change In Cash 86.85K -$552.6K -239.4K
YoY Change -136.27% -89.48%
FREE CASH FLOW
Cash From Operating Activities -$262.8K -$2.720M -$1.240M
Capital Expenditures $470.8K
Free Cash Flow -$1.711M
YoY Change

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CY2021 ifbd Net Proceeds From Issuance Of Common Stock In Initial Public Offering
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CY2023 ifbd Refunds From Escrow
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Disposal Group Including Discontinued Operations
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectDisposalGroupIncludingDiscontinuedOperations
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Disposal Group Including Discontinued Operations
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CY2023Q4 ifbd Working Capital
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CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_844_eus-gaap--UseOfEstimates_zZ0sNfzaBY36" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_86B_z3krOWQdXzKj">Use of estimates and assumptions</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s consolidated financial statements mainly include, but are not limited to, allowance for credit losses, standalone selling price of each distinct performance obligation in revenue recognition.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management bases the estimates on historical experience and on various other assumptions as discussed elsewhere to the consolidated financial statements that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. On an ongoing basis, management evaluates its estimates based on information that is currently available. Changes in circumstances, facts and experience may cause the Company to revise its estimates. Changes in estimates are recorded in the period in which they become known. Actual results could materially differ from these estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2023 ifbd Other Receivables And Allowance For Expected Credit Losses Policy Textblock
OtherReceivablesAndAllowanceForExpectedCreditLossesPolicyTextblock
<p id="xdx_848_ecustom--OtherReceivablesAndAllowanceForExpectedCreditLossesPolicyTextblock_zDGOTU1JcySe" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_867_zReZm0YCbqF6">Other receivables and allowance for expected credit losses</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Other receivables primarily include the receivables from sales of our short-term investment to the third party, and others, other receivables is short-term in nature. Other receivables is reviewed periodically to determine whether its carrying value has become impaired. The Company uses credit loss method to estimate the allowance for the questionable balances.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2023 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
84634 usd
CY2022 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
387910 usd
CY2021 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
165713 usd
CY2021Q2 us-gaap Escrow Deposit
EscrowDeposit
600000 usd
CY2022Q4 us-gaap Minority Interest
MinorityInterest
-75437 usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
829258 usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
402309 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Other Receivable Net
DisposalGroupIncludingDiscontinuedOperationOtherReceivableNet
99405 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Due From Related Parties
DisposalGroupIncludingDiscontinuedOperationDueFromRelatedParties
29983 usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Other Current Assets
DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets
202054 usd
CY2022Q4 ifbd Assets Of Disposal Group Including Discontinued Operations Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationsCurrent
1563009 usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Noncurrent
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent
153516 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Right Of Use Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationRightOfUseAssetsNoncurrent
52813 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Long Term Deposits Noncurrent
DisposalGroupIncludingDiscontinuedOperationLongTermDepositsNoncurrent
18993 usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Intangible Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationIntangibleAssetsNoncurrent
2556761 usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Goodwill Noncurrent
DisposalGroupIncludingDiscontinuedOperationGoodwillNoncurrent
478657 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Asset Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetNoncurrent
3260740 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Assets
DisposalGroupIncludingDiscontinuedOperationAssets
4823749 usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Payable Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent
3216364 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Bank Loans Current
DisposalGroupIncludingDiscontinuedOperationBankLoansCurrent
3548242 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Other Payable And Accrued Liabilities Current
DisposalGroupIncludingDiscontinuedOperationOtherPayableAndAccruedLiabilitiesCurrent
1134345 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Due To Related Parties Current
DisposalGroupIncludingDiscontinuedOperationDueToRelatedPartiesCurrent
53671 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Due To Infobird Cayman Current
DisposalGroupIncludingDiscontinuedOperationDueToInfobirdCaymanCurrent
14013927 usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Deferred Revenue Current
DisposalGroupIncludingDiscontinuedOperationDeferredRevenueCurrent
1460249 usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Accrued Income Taxes Payable
DisposalGroupIncludingDiscontinuedOperationAccruedIncomeTaxesPayable
653085 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Lease Liabilities Current Liabilities
DisposalGroupIncludingDiscontinuedOperationLeaseLiabilitiesCurrentLiabilities
39861 usd
CY2022Q4 ifbd Liabilities Of Disposal Group Including Discontinued Operation Currents
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrents
24119744 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Bank Loans Non Current
DisposalGroupIncludingDiscontinuedOperationBankLoansNonCurrent
18170 usd
CY2022Q4 ifbd Disposal Group Including Discontinued Operation Lease Liabilities Non Current Liabilities
DisposalGroupIncludingDiscontinuedOperationLeaseLiabilitiesNonCurrentLiabilities
8602 usd
CY2022Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
26772 usd
CY2022Q4 ifbd Liabilities Of Disposal Group Including Discontinued Operation Liabilities
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationLiabilities
24146516 usd
CY2023 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
2589823 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
5505734 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
9641080 usd
CY2023 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
1603887 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
3527402 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
7373652 usd
CY2023 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
985936 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
1978332 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
2267428 usd
CY2023 ifbd Disposal Group Including Discontinued Operation Selling Expense
DisposalGroupIncludingDiscontinuedOperationSellingExpense
607424 usd
CY2022 ifbd Disposal Group Including Discontinued Operation Selling Expense
DisposalGroupIncludingDiscontinuedOperationSellingExpense
3368714 usd
CY2021 ifbd Disposal Group Including Discontinued Operation Selling Expense
DisposalGroupIncludingDiscontinuedOperationSellingExpense
3828835 usd
CY2023 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
954576 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
6142730 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpense
5152995 usd
CY2023 ifbd Disposal Group Including Discontinued Operation Research And Development
DisposalGroupIncludingDiscontinuedOperationResearchAndDevelopment
922343 usd
CY2022 ifbd Disposal Group Including Discontinued Operation Research And Development
DisposalGroupIncludingDiscontinuedOperationResearchAndDevelopment
3323361 usd
CY2021 ifbd Disposal Group Including Discontinued Operation Research And Development
DisposalGroupIncludingDiscontinuedOperationResearchAndDevelopment
3269680 usd
CY2023 ifbd Disposal Group Including Discontinued Operation Long Live Assets Impairment
DisposalGroupIncludingDiscontinuedOperationLongLiveAssetsImpairment
2602589 usd
CY2022 ifbd Disposal Group Including Discontinued Operation Long Live Assets Impairment
DisposalGroupIncludingDiscontinuedOperationLongLiveAssetsImpairment
2631019 usd
CY2021 ifbd Disposal Group Including Discontinued Operation Long Live Assets Impairment
DisposalGroupIncludingDiscontinuedOperationLongLiveAssetsImpairment
3692047 usd
CY2023 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
5086932 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
15465824 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
15943557 usd
CY2023 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-4100996 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-13487492 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-13676129 usd
CY2023 us-gaap Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
1296 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
2994 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
9135 usd
CY2023 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
33682 usd
CY2022 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
1450707 usd
CY2021 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
317402 usd
CY2023 ifbd Disposal Group Including Discontinued Operation Other Income Expense
DisposalGroupIncludingDiscontinuedOperationOtherIncomeExpense
154275 usd
CY2022 ifbd Disposal Group Including Discontinued Operation Other Income Expense
DisposalGroupIncludingDiscontinuedOperationOtherIncomeExpense
-1206793 usd
CY2021 ifbd Disposal Group Including Discontinued Operation Other Income Expense
DisposalGroupIncludingDiscontinuedOperationOtherIncomeExpense
514162 usd
CY2023 ifbd Disposal Group Including Discontinued Operation Other Income Expense Total
DisposalGroupIncludingDiscontinuedOperationOtherIncomeExpenseTotal
-186661 usd
CY2022 ifbd Disposal Group Including Discontinued Operation Other Income Expense Total
DisposalGroupIncludingDiscontinuedOperationOtherIncomeExpenseTotal
-240920 usd
CY2021 ifbd Disposal Group Including Discontinued Operation Other Income Expense Total
DisposalGroupIncludingDiscontinuedOperationOtherIncomeExpenseTotal
-205895 usd
CY2023 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-4287657 usd
CY2022 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-13728412 usd
CY2021 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-13470234 usd
CY2023 ifbd Gain On Sale Of Discontinued Operations Before Income Taxes
GainOnSaleOfDiscontinuedOperationsBeforeIncomeTaxes
22858286 usd
CY2023 ifbd Total Incomeloss From Discontinued Operations Before Income Taxes
TotalIncomelossFromDiscontinuedOperationsBeforeIncomeTaxes
18570629 usd
CY2022 ifbd Total Incomeloss From Discontinued Operations Before Income Taxes
TotalIncomelossFromDiscontinuedOperationsBeforeIncomeTaxes
-13728412 usd
CY2021 ifbd Total Incomeloss From Discontinued Operations Before Income Taxes
TotalIncomelossFromDiscontinuedOperationsBeforeIncomeTaxes
-13470234 usd
CY2022 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-77649 usd
CY2021 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
124058 usd
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
18570629 usd
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-13650763 usd
CY2021 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-13594292 usd
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
6704029 usd
CY2023 ifbd Gain From Short Term Investments
GainFromShortTermInvestments
84634 usd
CY2022 ifbd Gain From Short Term Investments
GainFromShortTermInvestments
387910 usd
CY2021 ifbd Gain From Short Term Investments
GainFromShortTermInvestments
165713 usd
CY2023 ifbd Allowance For Credit Losses
AllowanceForCreditLosses
1888662 usd
CY2023 ifbd Schedule Of Other Receivables Net
ScheduleOfOtherReceivablesNet
<table cellpadding="0" cellspacing="0" id="xdx_89C_ecustom--ScheduleOfOtherReceivablesNet_zv6MpyCy60Nh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Other receivables, net (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-indent: -10pt"><span id="xdx_8B9_zHpXu2xpekXj" style="display: none">Schedule of other receivables, net</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20231231_zf0Ie6wKLaZ4" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20221231_zPzZ0BXodGO4" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2022</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr id="xdx_40B_ecustom--ReceivablesFromSalesOfShorttermInvestment_iI_zdGVgxBp3yia" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Receivables from sales of short-term investment</td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">6,788,662</td><td style="width: 1%; text-align: left"> </td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1276">—</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherReceivables_iI_zAuXB0CucPnc" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">323,235</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1279">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherReceivablesGrossCurrent_iI_zQBMXCKCz0fc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total other receivables</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,111,897</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1282">—</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AllowanceForExpectedsCreditLoss_iI_zRaRo2X44b9e" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Allowance for expected credit losses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,888,662</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1285">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherReceivablesNetCurrent_iI_zuXceuVRDXz1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total other receivables, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,223,235</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1288">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2023Q4 ifbd Receivables From Sales Of Shortterm Investment
ReceivablesFromSalesOfShorttermInvestment
6788662 usd
CY2023Q4 us-gaap Other Receivables
OtherReceivables
323235 usd
CY2023Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
7111897 usd
CY2023Q4 ifbd Allowance For Expecteds Credit Loss
AllowanceForExpectedsCreditLoss
-1888662 usd
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
5223235 usd
CY2022Q4 ifbd Escrow From Ipo
EscrowFromIpo
96932 usd
CY2023Q4 ifbd Escrow From Other Financing Activities
EscrowFromOtherFinancingActivities
52187762 usd
CY2022Q4 ifbd Escrow From Other Financing Activities
EscrowFromOtherFinancingActivities
4800000 usd
CY2023Q4 ifbd Total Escrow
TotalEscrow
52187762 usd
CY2022Q4 ifbd Total Escrow
TotalEscrow
4896932 usd
CY2023Q4 ifbd Total Escrow Net
TotalEscrowNet
52187762 usd
CY2022Q4 ifbd Total Escrow Net
TotalEscrowNet
4896932 usd
CY2023Q4 ifbd Escrow Account Related To Convertible Notes And Issuance Of Common Share Amounte
EscrowAccountRelatedToConvertibleNotesAndIssuanceOfCommonShareAmounte
52187762 usd
CY2022Q4 ifbd Escrow Account Related To Convertible Notes And Issuance Of Common Share Amounte
EscrowAccountRelatedToConvertibleNotesAndIssuanceOfCommonShareAmounte
4800000 usd
CY2023Q4 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
1184676 usd
CY2022Q4 us-gaap Stockholders Equity Note Subscriptions Receivable
StockholdersEquityNoteSubscriptionsReceivable
0 usd
CY2023 us-gaap Related Party Tax Expense Due From Affiliates Current
RelatedPartyTaxExpenseDueFromAffiliatesCurrent
1279 usd
CY2022 us-gaap Related Party Tax Expense Due From Affiliates Current
RelatedPartyTaxExpenseDueFromAffiliatesCurrent
0 usd
CY2023Q4 ifbd Due From Discontinued Operations
DueFromDiscontinuedOperations
17632181 usd
CY2022Q4 ifbd Due From Discontinued Operations
DueFromDiscontinuedOperations
14013927 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
17632181 usd
CY2022Q4 ifbd Due From Discontinued Operations Net
DueFromDiscontinuedOperationsNet
14013927 usd
CY2023Q4 ifbd Due From Discontinued Operations
DueFromDiscontinuedOperations
17632181 usd
CY2023 ifbd Tax Savings
TaxSavings
0 usd
CY2022 ifbd Tax Savings
TaxSavings
0 usd
CY2021 ifbd Tax Savings
TaxSavings
1353778 usd
CY2022 ifbd Income Tax Creditsexpenses
IncomeTaxCreditsexpenses
-77649 usd
CY2021 ifbd Income Tax Creditsexpenses
IncomeTaxCreditsexpenses
124058 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
77649 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-124058 usd
CY2022 ifbd Total Income Tax Expensescredit
TotalIncomeTaxExpensescredit
-77649 usd
CY2021 ifbd Total Income Tax Expensescredit
TotalIncomeTaxExpensescredit
124058 usd
CY2023 ifbd Effective Income Tax Rate Reconciliation At Federal Statutory Income Taxes Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxesRate
0.25 pure
CY2022 ifbd Effective Income Tax Rate Reconciliation At Federal Statutory Income Taxes Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxesRate
0.25 pure
CY2021 ifbd Effective Income Tax Rate Reconciliation At Federal Statutory Income Taxes Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxesRate
0.25 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.096 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.084 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.097 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
-0.001 pure
CY2022 ifbd Tax Rate Difference Outside Of Prc
TaxRateDifferenceOutsideOfPrc
-0.034 pure
CY2021 ifbd Tax Rate Difference Outside Of Prc
TaxRateDifferenceOutsideOfPrc
-0.013 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.153 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.126 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.165 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.015 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.005 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.009 pure
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
19551 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
19551 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
19551 usd
CY2022Q4 ifbd Vat Taxes Payable
VatTaxesPayable
457395 usd
CY2022Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
188425 usd
CY2023Q4 ifbd Other Taxes Payable
OtherTaxesPayable
594 usd
CY2022Q4 ifbd Other Taxes Payable
OtherTaxesPayable
7265 usd
CY2023Q4 ifbd Taxe Payable Current
TaxePayableCurrent
594 usd
CY2022Q4 ifbd Taxe Payable Current
TaxePayableCurrent
653085 usd
CY2022Q4 ifbd Taxes Payable Discontinued Operations
TaxesPayableDiscontinuedOperations
653085 usd
CY2023Q4 ifbd Taxes Payable Continuing Operations
TaxesPayableContinuingOperations
594 usd
CY2023Q4 us-gaap Deposit Assets
DepositAssets
4718 usd
CY2022Q4 us-gaap Deposit Assets
DepositAssets
0 usd
CY2023Q1 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
3846000 shares
CY2023Q1 us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
2884500 shares
CY2023Q1 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
4522314 usd
CY2023Q1 us-gaap Shares Issued
SharesIssued
3846000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
12321 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
499980 shares
CY2023Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
88105727 shares
CY2023Q3 ifbd Net Proceeds From Sale Of Stock
NetProceedsFromSaleOfStock
30000000 usd
CY2023Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
44117648 shares
CY2023Q3 ifbd Net Proceeds From Sale Of Stock
NetProceedsFromSaleOfStock
15000000 usd
CY2023Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2220000 usd
CY2023Q4 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.5
CY2023Q4 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
5550000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
33434 shares
CY2023Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
727762 usd
CY2023Q4 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.67
CY2023Q4 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
1348985 shares
CY2023Q4 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1720000 shares
CY2023Q4 ifbd Net Proceeds From Sale Of Stock
NetProceedsFromSaleOfStock
1184676 usd
CY2023 ifbd Capital Reduction Description
CapitalReductionDescription
Consolidated Shares from US$4.00 to US$0.00001 by cancelling the paid-up capital of the Company to the extent of US$3.99999 on each of the then issued Consolidated Shares. Immediately following the Capital Reduction, the Company sub-divided the balance of each unissued Consolidated Share in the authorized share capital of the Company into 400,000 ordinary shares with par value of US$0.00001 each in the share capital of the Company.
CY2024Q2 ifbd Increase Decrease In Dividend Amount
IncreaseDecreaseInDividendAmount
50000000 usd
CY2024Q2 us-gaap Excess Stock Shares Authorized
ExcessStockSharesAuthorized
5000000000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2023Q4 us-gaap Excess Stock Shares Authorized
ExcessStockSharesAuthorized
5000000000000 shares
CY2022Q4 us-gaap Excess Stock Shares Authorized
ExcessStockSharesAuthorized
5000000000000 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1342999 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1342999 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
23867 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
23867 shares
CY2023Q4 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1720000 shares
CY2023Q4 ifbd Net Proceeds From Sale Of Stock
NetProceedsFromSaleOfStock
1184676 usd
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
156 shares
CY2020Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
16000.0
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
156 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
16000.0
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
156 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
16000.0
CY2023 ifbd Warrants Issued
WarrantsIssued
6731 shares
CY2023 ifbd Weighted Average Exercise Price Warrants Issued
WeightedAverageExercisePriceWarrantsIssued
1040.0
CY2023 ifbd Warrants Exercised
WarrantsExercised
3125 shares
CY2023 ifbd Weighted Average Exercise Price Warrants Exercised
WeightedAverageExercisePriceWarrantsExercised
1040.0
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3762 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1661.4
CY2023Q4 ifbd Warrants Exercisable
WarrantsExercisable
3762 shares
CY2023Q4 ifbd Weighted Average Exercise Price Warrants Exercisable
WeightedAverageExercisePriceWarrantsExercisable
1661.4
CY2023Q4 ifbd Paidincapital Registered Capital And Statutory Reserves
PaidincapitalRegisteredCapitalAndStatutoryReserves
0 usd
CY2022Q4 ifbd Paidincapital Registered Capital And Statutory Reserves
PaidincapitalRegisteredCapitalAndStatutoryReserves
19300000 usd
CY2023 ifbd Statutorys Reserve
StatutorysReserve
0 usd
CY2022 ifbd Statutorys Reserve
StatutorysReserve
0 usd
CY2021 ifbd Statutorys Reserve
StatutorysReserve
11587 usd
CY2023 ifbd Capital Of Reduction Description
CapitalOfReductionDescription
Company effected a capital reduction to reduce the par value of each of the then issued Consolidated Shares from US$4.00 to US$0.00001 by cancelling the paid-up capital of the Company to the extent of US$3.99999 on each of the then issued Consolidated Shares. immediately following the Capital Reduction, the Company shall sub-divide the balance of each unissued Consolidated Share in the authorised share capital of the Company into 400,000 ordinary shares with par value of US$0.00001 each in the share capital of the Company.
CY2024Q2 ifbd Increase Decrease In Dividend Amount
IncreaseDecreaseInDividendAmount
50000000 usd
CY2024Q2 us-gaap Excess Stock Shares Authorized
ExcessStockSharesAuthorized
5000000000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001

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