2023 Q4 Form 20-F Financial Statement

#000149315224015948 Filed on April 25, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022
Revenue $24.56M $38.64M $24.23M
YoY Change 79.29% 59.43% -2.47%
Cost Of Revenue $19.58M $29.78M $17.00M
YoY Change 92.6% 75.16% 9.68%
Gross Profit $4.977M $8.852M $7.230M
YoY Change 40.99% 22.44% -22.61%
Gross Profit Margin 20.27% 22.91% 29.83%
Selling, General & Admin $2.118M $6.083M $6.789M
YoY Change 31.75% -10.4% -50.0%
% of Gross Profit 42.55% 68.72% 93.9%
Research & Development $1.381M $2.967M $3.607M
YoY Change -11.24% -17.73% -19.48%
% of Gross Profit 27.75% 33.52% 49.88%
Depreciation & Amortization $1.483M $2.517M $7.236M
YoY Change -53.89% -65.22% 95.31%
% of Gross Profit 29.79% 28.43% 100.08%
Operating Expenses $3.499M $9.050M $10.40M
YoY Change 10.6% -12.94% -42.43%
Operating Profit $1.479M -$197.7K -$3.166M
YoY Change 302.98% -93.75% -63.67%
Interest Expense -$323.9K $580.6K $556.4K
YoY Change 50.74% 4.35% -132.01%
% of Operating Profit -21.91%
Other Income/Expense, Net $377.0K $552.1K $3.202M
YoY Change -71.69% -82.76% 501.29%
Pretax Income $1.532M -$224.2K -$512.5K
YoY Change 3.22% -56.26% -94.83%
Income Tax -$26.53K $7.980K $69.87K
% Of Pretax Income -1.73%
Net Earnings $1.111M -$697.9K -$7.082M
YoY Change -121.87% -90.14% -28.65%
Net Earnings / Revenue 4.52% -1.81% -29.22%
Basic Earnings Per Share -$0.36 -$0.45
Diluted Earnings Per Share $0.50 -$0.36 -$0.45
COMMON SHARES
Basic Shares Outstanding 2.892M shares 1.911M shares 15.58M shares
Diluted Shares Outstanding 1.911M shares 15.58M shares

Balance Sheet

Concept 2023 Q4 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.301M $1.301M $1.015M
YoY Change 28.22% 28.22% -77.61%
Cash & Equivalents $1.300M $1.301M $1.015M
Short-Term Investments
Other Short-Term Assets $1.640M $1.990M $2.881M
YoY Change 5.51% -30.93% 22.91%
Inventory $1.251M $1.251M $356.4K
Prepaid Expenses $349.6K
Receivables $8.694M $8.694M $9.293M
Other Receivables $78.57K $12.02M $5.851M
Total Short-Term Assets $25.25M $25.25M $19.40M
YoY Change 30.19% 30.19% -7.94%
LONG-TERM ASSETS
Property, Plant & Equipment $6.677M $6.677M $7.883M
YoY Change -14.76% -15.29% -64.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $86.89K $86.89K $95.97K
YoY Change -0.96% -9.46% -85.88%
Other Assets $811.0K $811.0K $1.776M
YoY Change -54.32% -54.32% -39.79%
Total Long-Term Assets $7.575M $7.575M $9.813M
YoY Change -22.8% -22.8% -62.38%
TOTAL ASSETS
Total Short-Term Assets $25.25M $25.25M $19.40M
Total Long-Term Assets $7.575M $7.575M $9.813M
Total Assets $32.83M $32.83M $29.21M
YoY Change 12.38% 12.38% -38.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $832.4K $832.4K $2.287M
YoY Change -63.61% -63.61% -76.83%
Accrued Expenses $5.045M $5.045M $4.934M
YoY Change 2.26% 2.26% 615.63%
Deferred Revenue
YoY Change
Short-Term Debt $8.548M $8.997M $7.204M
YoY Change 18.65% 24.89% -7.55%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.06M $20.06M $19.57M
YoY Change 2.51% 2.51% -28.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $20.37K
YoY Change -100.0% -100.0% -96.37%
Total Long-Term Liabilities $0.00 $0.00 $20.37K
YoY Change -100.0% -100.0% -96.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.06M $20.06M $19.57M
Total Long-Term Liabilities $0.00 $0.00 $20.37K
Total Liabilities $20.06M $20.06M $19.59M
YoY Change 2.4% 2.4% -29.79%
SHAREHOLDERS EQUITY
Retained Earnings -$208.8M
YoY Change 0.34%
Common Stock $187.7M
YoY Change 2.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.76M $12.76M $9.617M
YoY Change
Total Liabilities & Shareholders Equity $32.83M $32.83M $29.21M
YoY Change 12.38% 12.38% -38.06%

Cashflow Statement

Concept 2023 Q4 2023 2022
OPERATING ACTIVITIES
Net Income $1.111M -$697.9K -$7.082M
YoY Change -121.87% -90.14% -28.65%
Depreciation, Depletion And Amortization $1.483M $2.517M $7.236M
YoY Change -53.89% -65.22% 95.31%
Cash From Operating Activities -$1.656M -$2.326M -$9.036M
YoY Change -57.56% -74.26% -44.05%
INVESTING ACTIVITIES
Capital Expenditures $645.3K $1.210M $1.793M
YoY Change -311.15% -32.55% -115.88%
Acquisitions
YoY Change
Other Investing Activities -$215.6K $590.00 $6.104M
YoY Change -110.75% -99.99% -325.54%
Cash From Investing Activities -$861.0K -$1.209M $4.311M
YoY Change -137.24% -128.05% -130.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.748M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.493M $3.839M $22.72K
YoY Change 2058.81% 16801.5% -99.93%
NET CHANGE
Cash From Operating Activities -1.656M -$2.326M -$9.036M
Cash From Investing Activities -861.0K -$1.209M $4.311M
Cash From Financing Activities 3.493M $3.839M $22.72K
Net Change In Cash 976.3K $277.6K -$3.508M
YoY Change -168.37% -107.91% -221.87%
FREE CASH FLOW
Cash From Operating Activities -$1.656M -$2.326M -$9.036M
Capital Expenditures $645.3K $1.210M $1.793M
Free Cash Flow -$2.301M -$3.536M -$10.83M
YoY Change -36.01% -67.35% 123.03%

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CY2023 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2021 TAOP Stock Issued During Period Value Of Issuance Of Ordinary Shares For Financing
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CY2021 TAOP Stock Issued During Dissolve Of Variable Interest Entity And Common Stock Value Issued For Acquisition Of Wholly Owned Subsidiary
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CY2022 us-gaap Profit Loss
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CY2022 TAOP Stock Issued During Period Value Disposal Of Wholly Owned Subsidiary
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CY2022 us-gaap Stock Issued During Period Value Acquisitions
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CY2022 TAOP Noncontrolling Interest Increase From Subsidiary Equity Issuance Reversal
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2023 us-gaap Stock Issued During Period Value Issued For Services
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CY2023 TAOP Stock Issued During Period Value Of Issuance Of Ordinary Shares For Financing
StockIssuedDuringPeriodValueOfIssuanceOfOrdinarySharesForFinancing
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CY2023 TAOP Stock Issued During Period Value Of Issuance Of Ordinary Shares For Financing
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CY2023 us-gaap Stock Issued During Period Value Issued For Services
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CY2023 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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CY2023 us-gaap Stock Issued During Period Value Acquisitions
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ProfitLoss
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ProfitLoss
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ProfitLoss
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CY2023 TAOP Provision For Obsolete Inventories
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ProvisionForObsoleteInventories
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CY2021 TAOP Provision For Obsolete Inventories
ProvisionForObsoleteInventories
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CY2023 us-gaap Depreciation
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CY2022 us-gaap Depreciation
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CY2021 us-gaap Depreciation
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CY2023 us-gaap Amortization Of Debt Discount Premium
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CY2023 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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GainLossOnSaleOfPropertyPlantEquipment
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CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2023 TAOP Stockbased Payments For Consulting Services
StockbasedPaymentsForConsultingServices
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CY2022 TAOP Stockbased Payments For Consulting Services
StockbasedPaymentsForConsultingServices
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CY2021 TAOP Stockbased Payments For Consulting Services
StockbasedPaymentsForConsultingServices
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CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
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ShareBasedCompensation
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CY2022 TAOP Gain Loss On Impairment
GainLossOnImpairment
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CY2021 TAOP Gain Loss On Impairment
GainLossOnImpairment
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CY2022 us-gaap Gain Loss On Sale Of Investments
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CY2021 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
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CY2023 us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
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CY2022 us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
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CY2023 us-gaap Equity Method Investment Realized Gain Loss On Disposal
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EquityMethodInvestmentRealizedGainLossOnDisposal
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CY2022 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accounts Payable Related Parties
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CY2023 us-gaap Increase Decrease In Inventories
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CY2022 us-gaap Increase Decrease In Intangible Assets Current
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CY2021 us-gaap Increase Decrease In Intangible Assets Current
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2023 us-gaap Increase Decrease In Contract With Customer Asset
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CY2021 us-gaap Increase Decrease In Contract With Customer Asset
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CY2021 TAOP Increase Decrease In Amounts Due Tofrom Related Parties
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CY2023 us-gaap Increase Decrease In Contract With Customer Liability
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CY2022 us-gaap Increase Decrease In Contract With Customer Liability
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CY2021 us-gaap Increase Decrease In Contract With Customer Liability
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CY2023 TAOP Increase Decrease In Advances From Customers From Related Parties
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CY2022 TAOP Increase Decrease In Advances From Customers From Related Parties
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CY2021 TAOP Increase Decrease In Advances From Customers From Related Parties
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CY2023 us-gaap Increase Decrease In Accrued Salaries
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CY2022 us-gaap Increase Decrease In Accrued Salaries
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CY2021 us-gaap Increase Decrease In Accrued Salaries
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CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2022 TAOP Proceeds From Sales Of Cryptocurrencies
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CY2021 TAOP Proceeds From Sales Of Cryptocurrencies
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CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2022 us-gaap Cash Acquired From Acquisition
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CY2021 us-gaap Cash Acquired From Acquisition
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CY2021 TAOP Consideration Paid For Acquisition
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CY2021 us-gaap Proceeds From Short Term Debt
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CY2021 us-gaap Proceeds From Related Party Debt
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CY2023 us-gaap Repayments Of Short Term Debt
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CY2022 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
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CY2021 us-gaap Repayments Of Short Term Debt
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CY2023 us-gaap Proceeds From Issuance Of Debt
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CY2023 us-gaap Proceeds From Issuance Of Common Stock
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
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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
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3434352 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1023240 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4531266 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1300855 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1023240 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4531266 usd
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
8180 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
69869 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
512389 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
553885 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
454261 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1300855 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1014591 usd
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
8649 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1300855 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1023240 usd
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StockholdersEquityReverseStockSplit
one-for-ten
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1000000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
6300000 usd
CY2021 TAOP Increase Decrease In Customer Advance
IncreaseDecreaseInCustomerAdvance
1400000 usd
CY2021 TAOP Non Cash Expense On Intagible Assets
NonCashExpenseOnIntagibleAssets
830000 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80C_eus-gaap--NatureOfOperations_z1ZTo70Oz0N5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_825_zvbPeCQ18eU">ORGANIZATION, PRINCIPAL ACTIVITIES AND MANAGEMENT’S PLANS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taoping Inc. (f/k/a China Information Technology, Inc.), together with its subsidiaries (the “Company”), is a provider of cloud-app technologies for Smart City IoT platforms, digital advertising delivery, and other internet-based information distribution systems in China. Its Internet ecosystem enables all participants of the new media community to efficiently promote branding, disseminate information, and exchange resources. In addition, the Company provides a broad portfolio of software and hardware with fully integrated solutions, including Information Technology infrastructure, Internet-enabled display technologies, and IoT platforms to customers in government, education, residential community management, media, transportation, and other private sectors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2018, we changed our corporate name from “China Information Technology Inc.” to “Taoping Inc.”, to reflect our current business operations in the new media and IoT industries. In 2021, Information Security Tech International Co. Ltd. (“IST HK”), one of the Company’s Hong Kong subsidiaries then, changed its corporate name to Taoping Group (China) Ltd. to reflect the Company’s current corporate structure to be in line with the new business strategies. As listed in the table below, these services are provided through the Company’s operating subsidiaries, primarily in Hong Kong and mainland China.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In June 2021, the Company consummated an acquisition of <span id="xdx_907_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_dp_uPure_c20210630__us-gaap--BusinessAcquisitionAxis__custom--TaopingNewMediaCoLtdMember_zEVB9JwTMZg2">100</span>% of the equity interest of Taoping New Media Co., Ltd (“TNM”), a leading media operator in China’s out-of-home digital advertising industry. Mr. Jianghuai Lin, the Chairman and CEO of the Company, who then owned approximately <span id="xdx_90A_ecustom--SharesOutstandingPercentage_iI_dp_uPure_c20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrJianghuaiLinMember_zrf5Xwocwqz" title="Outstanding percent">24.6</span>% of total shares outstanding of the Company, owned approximately <span id="xdx_908_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_dp_c20210630__us-gaap--BusinessAcquisitionAxis__custom--TaopingNewMediaCoLtdMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrJianghuaiLinMember_zQlGkZaJbFza">51</span>% of TNM. TNM focuses on digital life scenes and mainly engaged in selling out-of-home advertising time slots on its networked smart digital advertising display terminals with artificial intelligence and big data technologies. The acquisition of TNM is expected to enhance the Company’s presence in the new media and advertising sectors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2021, the Company launched blockchain related new business in cryptocurrency mining operations and newly established subsidiaries in Hong Kong to supplement its diminished Traditional Information Technology (TIT) business segment as a part of new business transformation. However, due to the decreased output and the highly volatile cryptocurrency market, the Company had ceased the operation of cryptocurrency mining business by December 2022, and continues to focus the efforts on its digital adverting, smart display and the newly added smart community and related businesses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the cessation of the operation of cryptocurrency mining business represent a strategic shift in the Company’s strategy that will have a major effect on the Company’s operations and financial results, the operations of cryptocurrency mining business have been presented as “discontinued operations” in the Company’s consolidated financial statements. See Note 10.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In September 2021, the Company and the Company’s wholly owned subsidiary, Information Security Technology (China) Co., Ltd. (“IST”) entered into an equity transfer agreement with Mr. Jianghuai Lin, the sole shareholder of iASPEC Technology Group Co., Ltd. (“iASPEC”). Upon closing of the equity transfer, the Company’s variable interest entity structure was dissolved and iASPEC became a wholly owned indirect subsidiary of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; 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-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TAOPING INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2022, the Company completed the acquisition of <span id="xdx_90D_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_dp_uPure_c20220131__us-gaap--BusinessAcquisitionAxis__custom--ZhenjiangTaopingIoTTechCoLtdZJIOTMember_zAhUxwt3YCO6" title="Equity interest acquired, percentage">100</span>% equity interest of ZJIOT, aiming to accelerate the Company’s smart charging pile and digital new media businesses in East China.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the Company’s business transformation and its exit from the TIT business, the Company disposed of <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20221231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IASPECTechnologyGroupCoLtdiASPECMember_zGUui1WeyAl7" title="Equity method investment, ownership percentage">100</span>% equity interests of iASPEC (excluding iASPEC’s subsidiaries) which mainly conducted the Company’s TIT business to an unrelated third party for <span id="xdx_909_eus-gaap--DisposalGroupIncludingDiscontinuedOperationConsideration_iI_dxL_c20220607__us-gaap--DisposalGroupClassificationAxis__custom--IASPECTechnologyGroupCoLtdiASPECMember_zCXTA3p0RFeh" title="Disposal group including discontinued operation, consideration::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl1052">nil</span></span> consideration on June 7, 2022. The disposition resulted in a total recorded income of approximately $<span id="xdx_905_eus-gaap--DisposalGroupIncludingDiscontinuedOperationOtherIncome_pn6n6_c20220101__20221231__us-gaap--DisposalGroupClassificationAxis__custom--IASPECTechnologyGroupCoLtdiASPECMember_zKPe28p6OwI7" title="Disposal group including discontinued operation other , Income">3.0</span> million for the Company for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company disposed of <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230906__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TaopingDigitalAssetsHongKongLimitedTDLMember_zEwfMzztw4p1" title="Equity method investment, ownership percentage">100</span>% equity interests of TDL to an unrelated third party for <span id="xdx_900_eus-gaap--DisposalGroupIncludingDiscontinuedOperationConsideration_iI_dxL_c20220906__us-gaap--DisposalGroupClassificationAxis__custom--TaopingDigitalAssetsHongKongLimitedTDLMember_zcdC8yrsVcMj" title="Disposal group including discontinued operation, consideration::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl1058">nil</span></span> consideration on September 6, 2023, and disposed of <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231027__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TaopingDigitalAssetsAsiaLimitedTDALMember_zM5VbVWe02Ga" title="Equity method investment, ownership percentage"><span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231027__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TaopingCapitalLimitedTCLMember_zqSu7ILpXUw3" title="Equity method investment, ownership percentage">100</span></span>% equity interests of TDAL and TCL (including their respective subsidiary) to an unrelated third party for <span id="xdx_901_eus-gaap--DisposalGroupIncludingDiscontinuedOperationConsideration_iI_dxL_c20231027__us-gaap--DisposalGroupClassificationAxis__custom--TaopingDigitalAssetsAsiaLimitedTDALMember_z9UJ5vcGh4Fb" title="Disposal group including discontinued operation, consideration::XDX::-"><span id="xdx_903_eus-gaap--DisposalGroupIncludingDiscontinuedOperationConsideration_iI_dxL_c20231027__us-gaap--DisposalGroupClassificationAxis__custom--TaopingCapitalLimitedTCLMember_zxwkYntMjOdi" title="Disposal group including discontinued operation, consideration::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl1064"><span style="-sec-ix-hidden: xdx2ixbrl1066">nil</span></span></span></span> consideration on October 27, 2023. The disposition resulted in a total recorded loss of $<span id="xdx_905_eus-gaap--DisposalGroupIncludingDiscontinuedOperationOtherIncome_c20230101__20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TaopingDigitalAssetsHongKongLimitedTDLMember_z3h3FDKYoTq4" title="Total recorded loss">16,184</span> for the Company for the year ended December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2023, the Company established a subsidiary Taoping EP Holdings (Shenzhen) Co., Ltd. with a majority stake of <span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20230531__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TaopingEPHoldingsShenzhenCoLtdTEPHMember_zYCCKVz7YCh6">51</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%, to explore the new off-grid wastewater treatment business line.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In September 2023, the Company acquired <span id="xdx_90A_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20230930__us-gaap--BusinessAcquisitionAxis__custom--FujianTaopingInvestmentCoMember_zpdVFZ4Pi9M9" title="Acquired percentage">80</span>% equity from other shareholders of Fujian Taoping Investment Co., Ltd. with <span id="xdx_908_eus-gaap--DisposalGroupIncludingDiscontinuedOperationConsideration_iI_dxL_c20230930__us-gaap--DisposalGroupClassificationAxis__custom--FujianTaopingInvestmentCoMember_zTnh32hVmZbl" title="Disposal group including discontinued operation, consideration::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl1073">nil</span></span> consideration, to expand its digital advertising and other businesses in Fujian Province. As a result of the acquisition, the Company currently owns <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20231231__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FujianTaopingInvestmentCoMember_zwfmLonlGGh8" title="Equity method investment, ownership percentage">100</span>% of Fujian Taoping Investment Co, Ltd.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2023, the Company established a subsidiary Taoping (Guangxi) EP Tech Co., Ltd. to expand its wastewater treatment business in Guangxi Province.</span></p> <p id="xdx_89A_eus-gaap--ScheduleOfVariableInterestEntitiesTextBlock_zlJBkODkTf99" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BD_zZVa0vQK3kte" style="display: none">SCHEDULE OF SUBSIDIARIES AND VARIABLE INTEREST ENTITY</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31, 2023</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31, 2022</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31, 2021</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Entities</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Subsidiaries</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">% owned</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">% owned</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">% owned</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Location</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_90F_ecustom--Entities_c20230101__20231231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_zkvAqhifcDM2" title="Entities">Taoping Inc.</span></td><td> </td> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90B_ecustom--Location_c20230101__20231231__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember_z6ycyIPipVdc" title="Location">British Virgin Islands</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 25%; text-align: left"><span id="xdx_902_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingHoldingsLimitedMember_zUkB11sOmsPk" title="Entities">Taoping Holdings Limited (THL)</span></td><td style="width: 2%"> </td> <td style="width: 10%; text-align: right"><span id="xdx_905_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingHoldingsLimitedMember_z3TRg1SlrhA7" title="Subsidiaries/VIE">Subsidiary</span></td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90A_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingHoldingsLimitedMember_zCJiYvnOCLoh" title="Percentage owned">100</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90A_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TaopingHoldingsLimitedMember_zdylBUrhye9e" title="Percentage owned">100</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90B_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TaopingHoldingsLimitedMember_zCXpO9KV2fzi" title="Percentage owned">100</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 19%; text-align: center"><span id="xdx_901_ecustom--Location_pid_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingHoldingsLimitedMember_ziKngBV3vDuc" title="Location">British Virgin Islands</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_90D_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingGroupChinaLtdISTHKMember_ztoVWoFZ9qT3" title="Entities">Taoping Group (China) Ltd. (IST HK)</span></td><td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingGroupChinaLtdISTHKMember_zgMFDAMnO23k" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingGroupChinaLtdISTHKMember_zxDmVhi3QwJ2" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TaopingGroupChinaLtdISTHKMember_zAzfvb3eX9i4" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TaopingGroupChinaLtdISTHKMember_zmOY5rzb2gZ2" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_907_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingGroupChinaLtdISTHKMember_zXMOmMG6SWMi" title="Location">Hong Kong, China</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_900_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsAsiaLimitedTDALMember_zAMnsMw0hub1" title="Entities">Taoping Digital Assets (Asia) Limited (TDAL)</span></td><td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsAsiaLimitedTDALMember_zcUH5oAmt7y8" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsAsiaLimitedTDALMember_zdE0pJAFbHf7" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1111">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsAsiaLimitedTDALMember_z1heqgMkqmn9" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsAsiaLimitedTDALMember_zKdXCf6dpmSl" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsAsiaLimitedTDALMember_zuRtRjOrraxe" title="Location">Hong Kong, China</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_90E_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsHongKongLimitedTDLMember_zA75PWdKy5qi">Taoping Digital Assets (Hong Kong) Limited (TDL)</span></td><td> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsHongKongLimitedTDLMember_zw6opK4n0Oxh" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsHongKongLimitedTDLMember_zZqnJeF1FnZd" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1122">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsHongKongLimitedTDLMember_zE952Wgvxk45" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsHongKongLimitedTDLMember_zMKEnkDZidC" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_903_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalAssetsHongKongLimitedTDLMember_z3sQAdW5u51d" title="Location">Hong Kong, China</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_900_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingCapitalLimitedTCLMember_zuYiTyvQXa57">Taoping Capital Limited (TCL)</span></td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingCapitalLimitedTCLMember_z0bpVF0b1kgl" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingCapitalLimitedTCLMember_zG9i2B0AYmMa" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1133">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TaopingCapitalLimitedTCLMember_zjnRyCxyLdm2" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TaopingCapitalLimitedTCLMember_zAks6DgGmam" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_903_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingCapitalLimitedTCLMember_zFR1689cvKGf" title="Location">Hong Kong, China</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_90C_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--AlphaDigitalGroupLtdADGMember_znQqIS5y9yt6">Alpha Digital Group Ltd. (ADG)</span></td><td> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--AlphaDigitalGroupLtdADGMember_zmFFSOg2K1Ic">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--AlphaDigitalGroupLtdADGMember_zwjiVi5NmaNg"><span style="-sec-ix-hidden: xdx2ixbrl1142">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_c20220101__20221231__dei--LegalEntityAxis__custom--AlphaDigitalGroupLtdADGMember_zlIGkmBb0Bnl"><span style="-sec-ix-hidden: xdx2ixbrl1143">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--AlphaDigitalGroupLtdADGMember_zkixmGL7PUze">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_90F_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--AlphaDigitalGroupLtdADGMember_zbeoSUmW63L" title="Location">Cayman, Island</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_908_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--KazakhTaopingOperationManagementCoLtdKTOMember_zNMThn4NZetj">Kazakh Taoping Operation Management Co. Ltd. (KTO)</span></td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--KazakhTaopingOperationManagementCoLtdKTOMember_zzHWmubuAd1d">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--KazakhTaopingOperationManagementCoLtdKTOMember_ztdAcc5OOjig"><span style="-sec-ix-hidden: xdx2ixbrl1149">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--KazakhTaopingOperationManagementCoLtdKTOMember_zEjolbD8fap6">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--KazakhTaopingOperationManagementCoLtdKTOMember_zVvOxEJmslf9">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_90E_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--KazakhTaopingOperationManagementCoLtdKTOMember_zlVJ4DeBIJ27" title="Location">Kazakhstan</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_905_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--KazakhTaopingDataCenterCoLtdKTDMember_za1UlSfGlyV4">Kazakh Taoping Data Center Co. Ltd. (KTD)</span></td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--KazakhTaopingDataCenterCoLtdKTDMember_z76cm1USeWQ6">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--KazakhTaopingDataCenterCoLtdKTDMember_zr9Mvv9ZO0f5"><span style="-sec-ix-hidden: xdx2ixbrl1156">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--KazakhTaopingDataCenterCoLtdKTDMember_zVkl4VFsLfq">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--KazakhTaopingDataCenterCoLtdKTDMember_z7sOfxLywXw2">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_901_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--KazakhTaopingDataCenterCoLtdKTDMember_z4OAXZ3cR6P2" title="Location">Kazakhstan</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_909_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--InformationSecurityTechMember_zHP0BU1GWh85">Information Security Tech. (China) Co., Ltd. (IST)</span></td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--InformationSecurityTechMember_zr4KC49FvXJe">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--InformationSecurityTechMember_zUSuKMKw5X14" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--InformationSecurityTechMember_zmV6G1AVkpU8" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--InformationSecurityTechMember_zOaPPHu6hD4l" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_90A_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--InformationSecurityTechMember_zWQfgoiANfhe">Shenzhen, China</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_900_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TopCloudSoftwareChinaCoLtdTopCloudMember_zb0IgfY8UyW5">TopCloud Software (China) Co., Ltd. (TopCloud)</span></td><td> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TopCloudSoftwareChinaCoLtdTopCloudMember_zSFAJ1pBVk8c" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TopCloudSoftwareChinaCoLtdTopCloudMember_zxETDque4Jre" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TopCloudSoftwareChinaCoLtdTopCloudMember_zq8FTE1jvej5" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TopCloudSoftwareChinaCoLtdTopCloudMember_zkz4zMtCSdFg" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_908_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--TopCloudSoftwareChinaCoLtdTopCloudMember_zJn5is9ICbCd" title="Location">Shenzhen, China</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_90C_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--InformationSecurityIOTTechCoLtdISIOTMember_z6i4onuuGcWd">Information Security IoT Tech. Co., Ltd. (ISIOT)</span></td><td> </td> <td style="text-align: right"><span id="xdx_90E_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--InformationSecurityIOTTechCoLtdISIOTMember_zTI3MgJ1SOrb" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--InformationSecurityIOTTechCoLtdISIOTMember_zE26AXm7RB31" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--InformationSecurityIOTTechCoLtdISIOTMember_zdI1RF3cl6u5" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--InformationSecurityIOTTechCoLtdISIOTMember_zfQYXpfzLseb" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_906_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--InformationSecurityIOTTechCoLtdISIOTMember_z9hbzmIb0tK9" title="Location">Shenzhen, China</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_90B_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--IASPECTechnologyGroupCoLtdiASPECMember_zlYZYrcXLhW1">iASPEC Technology Group Co., Ltd. (iASPEC)</span></td><td> </td> <td style="text-align: right"><span id="xdx_906_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--IASPECTechnologyGroupCoLtdiASPECMember_zGTuQggvwImj" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--IASPECTechnologyGroupCoLtdiASPECMember_zaIFYfbKC4rj" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1196">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--IASPECTechnologyGroupCoLtdiASPECMember_zsJUj3AXOtjf" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1198">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--IASPECTechnologyGroupCoLtdiASPECMember_zTV9ziruOJVd" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_907_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--IASPECTechnologyGroupCoLtdiASPECMember_zhQzw1ftuCBg" title="Location">Shenzhen, China</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_90D_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--BiznestInternetTechCoLtdBiznestMember_zdlrvvMkd7Qe">Biznest Internet Tech. Co., Ltd. (Biznest)</span></td><td> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--BiznestInternetTechCoLtdBiznestMember_z0fGBnJQXth4" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--BiznestInternetTechCoLtdBiznestMember_z8f7OGEoxYH2" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--BiznestInternetTechCoLtdBiznestMember_zkawy3UdyIml" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--BiznestInternetTechCoLtdBiznestMember_znpH75u2bxuc" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_90E_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--BiznestInternetTechCoLtdBiznestMember_zHJxTixVqZx9" title="Location">Shenzhen, China</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_909_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--IASPECBocomIoTTechCoLtdBocomMember_zoW5H59dvJFc">iASPEC Bocom IoT Tech. Co., Ltd. (Bocom)</span></td><td> </td> <td style="text-align: right"><span id="xdx_905_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--IASPECBocomIoTTechCoLtdBocomMember_z3kFoVELhev2" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--IASPECBocomIoTTechCoLtdBocomMember_zyVKEWW5CST9" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--IASPECBocomIoTTechCoLtdBocomMember_zQAQUAOw7R6g" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--IASPECBocomIoTTechCoLtdBocomMember_zD4c4J8OC1Pg" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_90F_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--IASPECBocomIoTTechCoLtdBocomMember_zszzjlxJKxEb" title="Location">Shenzhen, China</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_906_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingNewMediaCoLtdTNMMember_zvqROnZy7W3d">Taoping New Media Co., Ltd. (TNM)</span></td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingNewMediaCoLtdTNMMember_zBggXpEHSet2" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingNewMediaCoLtdTNMMember_zxCfJpq6mFJ" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TaopingNewMediaCoLtdTNMMember_zc1CuQi5fSEe" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TaopingNewMediaCoLtdTNMMember_zlZgBCKv6Pe1" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_906_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingNewMediaCoLtdTNMMember_z4X9Iu3TKf63" title="Location">Shenzhen, China</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_905_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--ShenzhenTaopingEducationTechnologyCoLtdSZTETMember_zaMqPluAzlp6">Shenzhen Taoping Education Technology Co., Ltd. (SZTET)</span></td><td> </td> <td style="text-align: right"><span id="xdx_909_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--ShenzhenTaopingEducationTechnologyCoLtdSZTETMember_znl7NgwQdbi5" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--ShenzhenTaopingEducationTechnologyCoLtdSZTETMember_ze0jrl9GQ5l4" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1240">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--ShenzhenTaopingEducationTechnologyCoLtdSZTETMember_zentuNGhzyYi" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1242">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--ShenzhenTaopingEducationTechnologyCoLtdSZTETMember_zW9FTvqIwSPl" title="Percentage owned">51</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_907_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--ShenzhenTaopingEducationTechnologyCoLtdSZTETMember_zyZcn0SJ5smf" title="Location">Shenzhen, China</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_908_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--WuhuTaopingEducationTechnologyCoLtdWHTETMember_zhwunNiOIuB4">Wuhu Taoping Education Technology Co., Ltd. (WHTET)</span></td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--WuhuTaopingEducationTechnologyCoLtdWHTETMember_zrzZ6bXMTXC8" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--WuhuTaopingEducationTechnologyCoLtdWHTETMember_zGuHdHOPrj04" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1251">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--WuhuTaopingEducationTechnologyCoLtdWHTETMember_zxmfd6WLsF2g" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1253">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--WuhuTaopingEducationTechnologyCoLtdWHTETMember_zzZHM2t4xfuj" title="Percentage owned">51</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_90B_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--WuhuTaopingEducationTechnologyCoLtdWHTETMember_zPxyZK1efO89" title="Location">Wuhu, China</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_900_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalTechDongguanCoLtdTDTDGMember_z7OH2ADlaNVj">Taoping Digital Tech. (Dongguan) Co., Ltd. (TDTDG)</span></td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalTechDongguanCoLtdTDTDGMember_zYIiQLr9BZG6" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalTechDongguanCoLtdTDTDGMember_zaMMSuNv3EFb" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1262">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TaopingDigitalTechDongguanCoLtdTDTDGMember_zGuIgHyW0xRd" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1264">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TaopingDigitalTechDongguanCoLtdTDTDGMember_zHGhzGaCJcA" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalTechDongguanCoLtdTDTDGMember_z7WCBs4ONG64" title="Location">Dongguan, China</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_90B_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TopCloudTechChenzhouCoLtdTCTCZMember_z0jO9jUVjRg8">TopCloud Tech. (Chenzhou) Co., Ltd. (TCTCZ)</span></td><td> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TopCloudTechChenzhouCoLtdTCTCZMember_zF76PbYkIgv8" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TopCloudTechChenzhouCoLtdTCTCZMember_zvDl8qROYsdh" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1273">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TopCloudTechChenzhouCoLtdTCTCZMember_zm0X54IWiSyg" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TopCloudTechChenzhouCoLtdTCTCZMember_zLvdtUmVjxkg" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_90C_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--TopCloudTechChenzhouCoLtdTCTCZMember_zMbsokW0lEE5" title="Location">Chenzhou, China</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_909_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalTechJiangsuCoLtdTDTJSMember_zmO1oosBS9bl">Taoping Digital Tech. (Jiangsu) Co., Ltd. (TDTJS)</span></td><td> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalTechJiangsuCoLtdTDTJSMember_zGnIsBVz2w8" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalTechJiangsuCoLtdTDTJSMember_zm7ULgpRuM46" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TaopingDigitalTechJiangsuCoLtdTDTJSMember_z0GGjDT7m3Ed" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TaopingDigitalTechJiangsuCoLtdTDTJSMember_zQa7mo2RpDA" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_909_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingDigitalTechJiangsuCoLtdTDTJSMember_zbjR4q9lh1lj" title="Location">Jiangsu, China</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_904_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--ZhenjiangTaopingIoTTechCoLtdZJIOTMember_zqliwOgLdECb">Zhenjiang Taoping IoT Tech. Co., Ltd (ZJIOT)</span></td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--ZhenjiangTaopingIoTTechCoLtdZJIOTMember_z2KxRfs6yZB6" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--ZhenjiangTaopingIoTTechCoLtdZJIOTMember_zmcOSeeJMmQ" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--ZhenjiangTaopingIoTTechCoLtdZJIOTMember_zchknsgWlPk2" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--ZhenjiangTaopingIoTTechCoLtdZJIOTMember_zs3DqcAA5Z9g" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1299">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90C_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--ZhenjiangTaopingIoTTechCoLtdZJIOTMember_z3V4Aorn4J4e" title="Location">Zhenjiang, China</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_902_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingEPHoldingsShenzhenCoLtdTEPHMember_zwVzho4p1W56">Taoping EP Holdings (Shenzhen) Co., Ltd. (TEPH)</span></td><td> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingEPHoldingsShenzhenCoLtdTEPHMember_zAjztXT63B19" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingEPHoldingsShenzhenCoLtdTEPHMember_zgMAvFxhwx4" title="Percentage owned">51</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TaopingEPHoldingsShenzhenCoLtdTEPHMember_zFOHVRNAj429" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1308">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TaopingEPHoldingsShenzhenCoLtdTEPHMember_zWwTIASPL2M2" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1310">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90C_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingEPHoldingsShenzhenCoLtdTEPHMember_zdm0GHa5RK89" title="Location">Shenzhen, China</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span id="xdx_900_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--FujianTaopingInvestmentCoLtdFJTIMember_zeRWrBBI7n55">Fujian Taoping Investment Co., Ltd. (FJTI)</span></td><td> </td> <td style="text-align: right"><span id="xdx_905_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--FujianTaopingInvestmentCoLtdFJTIMember_zKKwZWg0IBt3" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--FujianTaopingInvestmentCoLtdFJTIMember_z3YGsPrA8lwj" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--FujianTaopingInvestmentCoLtdFJTIMember_zTjSZkLiFNug" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1319">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--FujianTaopingInvestmentCoLtdFJTIMember_zmDtcQfnSe3" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1321">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--FujianTaopingInvestmentCoLtdFJTIMember_zxL888CjSJoc" title="Location">Fujian, China</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span id="xdx_901_ecustom--Entities_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingGuangxiEPTechCoLtdTPGXTMember_zjQmAUdAIsPl">Taoping (Guangxi) EP Tech. Co., Ltd. (TPGXT)</span></td><td> </td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--VariableInterestEntitySimilarEntityAggregationDescription_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingGuangxiEPTechCoLtdTPGXTMember_zokEmK43eTy6" title="Subsidiaries/VIE">Subsidiary</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingGuangxiEPTechCoLtdTPGXTMember_zoQd1rHchUkc" title="Percentage owned">100</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20220101__20221231__dei--LegalEntityAxis__custom--TaopingGuangxiEPTechCoLtdTPGXTMember_zxDEDF2PkDt1" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1330">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--VariableInterestEntityOwnershipPercentage_dp_uPure_c20210101__20211231__dei--LegalEntityAxis__custom--TaopingGuangxiEPTechCoLtdTPGXTMember_zKGvmuR8cGXf" title="Percentage owned"><span style="-sec-ix-hidden: xdx2ixbrl1332">-</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--Location_c20230101__20231231__dei--LegalEntityAxis__custom--TaopingGuangxiEPTechCoLtdTPGXTMember_zU08q5UVzIO4" title="Location">Guangxi, China</span></td></tr> </table> <p id="xdx_8A4_zrTh7VWe6cab" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><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 0pt 0pt 0; 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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TAOPING INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Dissolution of the Variable Interest Entity Structure</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">iASPEC was a VIE of the Company. To comply with PRC laws and regulations that restrict foreign ownership of companies that provide public security information technology and Geographic Information Systems software operating services to certain government and other customers, the Company used to operate the restricted aspect of its business through iASPEC.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In September 2021, we dissolved the variable interest entity structure by exercising the purchase option under certain Option Agreement among IST, iASPEC and its shareholders, to purchase all of the equity interests in iASPEC at an aggregate exercise price of <span id="xdx_909_eus-gaap--StockOptionExercisePriceIncrease_c20210901__20210930_zb1D7t7pOmF8" title="Aggregate exercise price">$1,800,000</span>. On September 18, 2021, Taoping Inc. and IST entered into an equity transfer agreement with iASPEC and iASPEC’s then sole shareholder, Mr. Lin, under which Mr. Lin sold and transferred to IST all of the equity interests in and any and all rights and benefits relating thereto of iASPEC in exchange for <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20210917__20210918__us-gaap--StatementEquityComponentsAxis__us-gaap--ParentMember_zAHN2CD95hPl" title="Number of shares restricted">61,225</span> unregistered ordinary shares of Taoping Inc., as determined by dividing <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodValueRestrictedStockAwardGross_c20210917__20210918__us-gaap--StatementEquityComponentsAxis__us-gaap--ParentMember_zyIJLOQeWKS1" title="Number of shares restricted, value">$1,800,000</span> by the volume-weighted average closing price of ordinary shares for the consecutive five (5) trading days immediately prior to September 18, 2021. The parties thereafter completed the equity transfer through applicable PRC governmental registration(s).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon the closing of the equity transfer, the Company’s variable interest entity structure was dissolved and iASPEC became a wholly owned indirect subsidiary of the Company. The amended and restated MSA was automatically terminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Going Concern and Management’s Plans</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the recovery of market conditions and customer demands, as well as the Company’s continued efforts in diversifying applications of its innovative Taoping smart cloud, the Company achieved a <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20230101__20231231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--RevenueFromRightsConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__srt--MajorCustomersAxis__custom--TaopingNewMediaCoLtdMember_zMPN5A3AFHtf" title="Revenue percentage">59.4</span>% year-over-year revenue growth and significantly reduced net loss by $<span id="xdx_904_ecustom--ReducedNetLoss_iN_pn5n6_di_c20230101__20231231_zPcgjjQjMNWl" title="Net loss decreased">6.4</span> million in 2023. Cash and cash equivalents at December 31, 2023 was $<span id="xdx_909_eus-gaap--Cash_iI_pn5n6_c20231231_zs7hL8e2gtla">1.3</span> million, compared to cash and cash equivalents of <span id="xdx_906_eus-gaap--Cash_iI_pn5n6_c20221231_zRmPMoMurky9">$1.0</span> million a year ago.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company incurred a net loss of $<span id="xdx_90D_eus-gaap--NetIncomeLoss_iN_pn5n6_di_c20230101__20231231_zbuyqMvITkXg" title="Net income loss">0.7</span> million for year ended December 31, 2023, compared to a net loss of $<span id="xdx_90A_eus-gaap--NetIncomeLoss_iN_pn5n6_di_c20220101__20221231_zJflXJFnejk6" title="Net income loss">7.1</span> million for 2022. The improved profitability was mainly due to the increase of gross profit, and the Company’s cessation of cryptocurrency mining business in 2023. As of December 31, 2023, the Company had a working capital surplus of approximately $<span id="xdx_902_ecustom--WorkingCapitalDeficiency_iNI_pn5n6_di_c20231231_zeidnBqmrXrd" title="Working capital deficiency">5.2 </span>million, significantly improved from a working capital deficit of $<span id="xdx_905_ecustom--WorkingCapitalDeficiency_iNI_pn5n6_di_c20221231_zigh0bWxIMni" title="Working capital deficiency">0.2</span> million as of December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TAOPING INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company will continue to focus its efforts on the digital advertising and other cloud-based and AI-related products and applications. Furthermore, its two core competencies, the Taoping national sales network and the highly scalable and compatible cloud platform, and its strong software development capability, make it a valued partner by many other smart-community customers and solution providers. In addition to seeking strategic acquisition to expand its digital advertising business, the Company continues to explore business opportunities in the smart community and new energy sectors. Starting from April 2023, the Company has entered into a series of long-term strategic cooperation agreements with various customers to provide Taoping’s cloud-based intelligent product solutions, including smart large screen, IoT smart rest station and off-grid wastewater treatment solution, which are expected to generate revenue and operating cashflow for the Company for year 2023 and beyond.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the Company’s execution of business strategies is not successful in addressing its current financial concerns, additional capital raise from issuing equity security or debt instrument or additional loan facility may occur to support required cash flows. The Company’s existing $<span id="xdx_907_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn5n6_c20231231__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember_zB2ezRQfThrj" title="Revolving bank loan">8.5</span> million revolving bank loan, which was collateralized with the Company’s office property, provides important capital support for its operation. In addition, the Company has renewed the bank facility line with a value of approximately $<span id="xdx_906_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn5n6_c20230731__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember_zH9w5izddHWh" title="Maximum borrowing capacity">2.6</span> million in July 2023 and a value of approximately $<span id="xdx_90C_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn5n6_c20230930__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember_z0g2ZgEHgXPh" title="Maximum borrowing capacity">4.9</span> million in September 2023, and both are valid for 12 months. In addition, on July 17, 2023, the Company entered into a public standby equity purchase agreement and a private standby equity purchase agreement with an investor. Pursuant to the agreements, the Company has the right, but not the obligation, to sell to the investor up to $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueOther_c20230716__20230717__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--PublicStandbyEquityPurchaseAgreementMember_zKQhpApThSfl" title="Right to sell ordinary shares">1,000,000</span> and $<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueOther_c20230716__20230717__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--PrivateStandbyEquityPurchaseAgreementMember_zkXXwCQqYbyb" title="Right to sell ordinary shares">10,000,000</span>, respectively, of its ordinary shares, within 24 months and 36 months, respectively, from the date of the agreements. As of April, 2024, the Company has raised a total of $<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueOther_pn5n6_c20240401__20240430__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--PrivateStandbyEquityPurchaseAgreementMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zxhG9doNbyee" title="Right to sell ordinary shares">3.3</span> million through this equity line offering. In conclusion, the Company believes that it has the ability to raise needed capital to fund its operations and business growth, and is able to operate as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">However, the Company can make no assurances that financing will be available for the amounts we need, or on terms commercially acceptable to us, if at all. If one or all of these events do not occur or subsequent capital raise was insufficient to bridge financial and liquidity shortfall, substantial doubt exists about the Company’s ability to continue as a going concern. The consolidated financial statements have been prepared assuming that the Company will continue as a going concern and, accordingly, do not include any adjustments that might result from the outcome of this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2021Q3 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
1800000
CY2023 TAOP Reduced Net Loss
ReducedNetLoss
-6400000 usd
CY2023Q4 us-gaap Cash
Cash
1300000 usd
CY2022Q4 us-gaap Cash
Cash
1000000.0 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-700000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-7100000 usd
CY2023Q4 TAOP Working Capital Deficiency
WorkingCapitalDeficiency
-5200000 usd
CY2022Q4 TAOP Working Capital Deficiency
WorkingCapitalDeficiency
-200000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_847_eus-gaap--UseOfEstimates_zWMdk0FTRLt4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">(b) <span id="xdx_869_zXnpUTXEOJ9f">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company’s significant estimates include assessment of credit losses and useful lives of property and equipment. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TAOPING INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1300000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1000000.0 usd
CY2023 TAOP Increase In Allowance For Credit Losses
IncreaseInAllowanceForCreditLosses
30000.00 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
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