X3 (XTKG) 20-F 28 Apr 23 2022 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2022 shares
Document Information Line Items
Entity Registrant Name	POWERBRIDGE TECHNOLOGIES CO., LTD.
Trading Symbol	PBTS
Document Type	20-F
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	285,005,647
Amendment Flag	false
Entity Central Index Key	0001754323
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38851
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Advanced Business Park
Entity Address, Address Line Two	9th Fl, Bldg C2
Entity Address, Address Line Three	29 Lanwan Lane
Entity Address, City or Town	Zhuhai
Entity Address, Postal Zip Code	519080
Entity Address, Country	CN
Title of 12(b) Security	Ordinary shares, par value $0.00166667
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Accounting Standard	U.S. GAAP
Auditor Name	OneStop Assurance PAC
Auditor Location	Singapore
Auditor Firm ID	6732
Business Contact
Document Information Line Items
Entity Address, Address Line One	Advanced Business Park
Entity Address, Address Line Two	9th Fl, Bldg C2
Entity Address, Address Line Three	29 Lanwan Lane
Entity Address, City or Town	Zhuhai
Entity Address, Postal Zip Code	519080
Entity Address, Country	CN
Contact Personnel Name	Stewart Lor
City Area Code	+86
Local Phone Number	-756-339-5666

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalent	$ 9,380,322	$ 6,960,996
Restricted cash		95,252
Accounts receivable, net	14,814,583	24,217,737
Notes receivable	13,049
Due from related parties, net	2,140,593	1,496,093
Loan receivable	59,612,192	3,816,618
Prepayments, deposits and other current assets, net	1,447,752	2,035,412
Total Current Assets	87,408,491	38,622,108
Property and equipment, net	10,996,642	10,262,418
Prepayments, deposits and other assets, net	226,544	381,656
Long term investments	30,764,195
Loan receivable – long term		64,951,511
Right of use assets	211,585
Deferred tax assets	980,653	601,271
Total Assets	130,588,110	114,818,964
CURRENT LIABILITIES:
Bank loans	2,609,755	4,393,811
Accounts payable	12,815,532	20,364,911
Accounts payable-related party		734,263
Convertible loans	9,079,966	2,251,832
Customer deposits	483,735	575,303
Deferred revenue	893,263	1,344,637
Loan from third party		470,765
Accrued expenses and other current liabilities	1,733,181	835,314
Due to related party	118,114	218,862
Taxes payable	110,843	730,924
Lease liabilities	91,587
Total Current Liabilities	27,935,976	31,920,622
Lease liabilities - non-current	101,992
Total Liabilities	28,037,968	31,920,622
COMMITMENTS AND CONTINGENCIES
EQUITY:
Ordinary shares, 0.00166667 par value; 300,000,000 shares authorized; 285,005,647 and 56,794,773 shares issued and outstanding as of December 31, 2022 and 2021	475,018	94,660
Additional Paid-in Capital	164,753,604	117,937,928
Accumulated deficit	(59,081,432)	(37,575,834)
Accumulated other comprehensive (loss) income	(3,333,541)	2,698,884
Total Powerbridge Technologies Co., Ltd.’s Shareholders’ Equity	102,813,649	83,155,638
Non-controlling interest	(263,507)	(257,296)
Total Equity	102,550,142	82,898,342
Total Liabilities and Equity	$ 130,588,110	$ 114,818,964

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Ordinary Shares, par value (in Dollars per share)	$ 0.00166667	$ 0.00166667
Ordinary Shares, shares authorized	300,000,000	300,000,000
Ordinary Shares, shares issued	285,005,647	56,794,773
Ordinary Shares, shares outstanding	285,005,647	56,794,773

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
REVENUES:
Application development services	$ 3,847,199	$ 20,323,422	$ 21,985,214
Consulting and technical support services	2,538,500	4,555,352	3,797,354
Subscription services	758,526	936,913	881,443
Trading revenue	3,338,584	6,277,141
Total revenues	10,482,809	32,092,828	26,664,011
COST OF REVENUES
Cost of application development services	2,443,460	12,785,491	15,320,446
Cost of consulting and technical support services	983,700	2,198,310	1,803,239
Cost of subscription services	104,499	156,113	147,631
Cost of trading revenue	3,183,729	6,237,601
Total cost of revenues	6,715,388	21,377,515	17,271,316
GROSS PROFIT	3,767,421	10,715,313	9,392,695
OPERATING EXPENSES
Sales and marketing	1,956,811	2,775,526	2,675,028
General and administrative	7,732,287	6,004,186	5,559,426
Provision for doubtful accounts	4,733,183	1,100,606	191,148
Research and development	3,459,987	2,611,742	2,780,944
Share based compensation	5,983,907	6,335,246	1,473,976
Total operating expenses	23,866,175	18,827,306	12,680,522
OPERATING LOSS	(20,098,754)	(8,111,993)	(3,287,827)
OTHER INCOME (EXPENSE)
Other (expense) income	608	(36,881)	106,026
(Loss) gain from disposition of a subsidiary	(1,009)	714
Change in fair value of convertible debt	(2,448,936)	(1,508,229)	(15,258,333)
Total other expense	(2,449,337)	(1,544,396)	(15,152,307)
LOSS BEFORE INCOME TAXES	(22,548,091)	(9,656,389)	(18,440,134)
INCOME TAX BENEFIT	(999,391)	(173,941)	(80,532)
NET LOSS	(21,548,700)	(9,482,448)	(18,359,602)
Less: loss attributable to non-controlling interests	(43,102)	(141,106)	(105,945)
NET LOSS ATTRIBUTABLE TO POWERBRIDGE	(21,505,598)	(9,341,342)	(18,253,657)
OTHER COMPREHENSIVE (LOSS) INCOME
Foreign currency translation adjustment	(6,012,211)	1,880,131	809,672
COMPREHENSIVE LOSS	(27,560,911)	(7,602,317)	(17,549,930)
Less: comprehensive loss attributable to non-controlling interest	(22,888)	(145,516)	(112,103)
COMPREHENSIVE LOSS ATTRIBUTABLE TO POWERBRIDGE	$ (27,538,023)	$ (7,456,801)	$ (17,437,827)
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES *
Basic and diluted (in Shares)	109,064,183	49,264,375	16,150,065
LOSS PER SHARE
Basic and diluted (in Dollars per share)	$ (0.2)	$ (0.19)	$ (1.13)

Consolidated Statements of Op_2

Consolidated Statements of Operations and Comprehensive (Loss) Income (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Basic and diluted (in Shares)	109,064,183	49,264,375	16,150,065
Basic and diluted (in Dollars per share)	$ (0.20)	$ (0.19)	$ (1.13)

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Shares	Additional Paid-in Capital	Retained Earnings (Accumulated deficit)	Non-controlling interest	Accumulated other comprehensive income (loss)	Total
Balance at Dec. 31, 2019	$ 14,946	$ 15,878,438	$ (9,980,835)	$ (15)	$ (1,487)	$ 5,911,047
Balance (in Shares) at Dec. 31, 2019	8,967,748
Issuance of shares for private placement	$ 14,667	17,585,333				17,600,000
Issuance of shares for private placement (in Shares)	8,800,000
Conversion of convertible note	$ 46,297	65,212,036				65,258,333
Conversion of convertible note (in Shares)	27,777,776
Restricted shares issued for services	$ 386	486,961				487,347
Restricted shares issued for services (in Shares)	231,794
Options granted		986,629				986,629
Capital contribution by non-controlling shareholder				91		91
Net loss for the year			(18,253,657)	(105,945)		(18,359,602)
Foreign currency translation adjustment				(6,158)	815,830	809,672
Balance at Dec. 31, 2020	$ 76,296	100,149,397	(28,234,492)	(112,027)	814,343	72,693,517
Balance (in Shares) at Dec. 31, 2020	45,777,318
Issuance shares at the market offering	$ 2,711	5,125,766				5,128,477
Issuance shares at the market offering (in Shares)	1,626,327
Conversion of convertible loans	$ 7,886	6,335,286				6,343,172
Conversion of convertible loans (in Shares)	4,731,028
Issuance of shares for services	$ 1,035	460,645				461,680
Issuance of shares for services (in Shares)	621,182
Options granted		5,873,566				5,873,566
Issuance of shares issued for options exercised	$ 40	(40)
Issuance of shares issued for options exercised (in Shares)	23,954
Issuance of reserve shares	$ 6,692	(6,692)
Issuance of reserve shares (in Shares)	4,014,964
Capital contribution by non-controlling shareholder				247		247
Net loss for the year			(9,341,342)	(141,106)		(9,482,448)
Foreign currency translation adjustment				(4,410)	1,884,541	1,880,131
Balance at Dec. 31, 2021	$ 94,660	117,937,928	(37,575,834)	(257,296)	2,698,884	82,898,342
Balance (in Shares) at Dec. 31, 2021	56,794,773
Issuance of shares for private placement	$ 66,891	6,963,628				7,030,519
Issuance of shares for private placement (in Shares)	40,133,954
Issuance shares for investments	$ 256,079	30,073,156				30,329,235
Issuance shares for investments (in Shares)	153,644,619
Disposition of a subsidiary				16,677		16,677
Issuance shares at the market offering	$ 95	56,354				56,449
Issuance shares at the market offering (in Shares)	56,800
Conversion of convertible loans	$ 33,186	3,762,738				3,795,924
Conversion of convertible loans (in Shares)	19,911,596
Issuance of shares for services	$ 20,079	2,627,376				2,647,455
Issuance of shares for services (in Shares)	12,047,255
Options granted		3,336,452				3,336,452
Issuance of reserve shares	$ 4,028	(4,028)
Issuance of reserve shares (in Shares)	2,416,650
Net loss for the year			(21,505,598)	(43,102)		(21,548,700)
Foreign currency translation adjustment				20,214	(6,032,425)	(6,012,211)
Balance at Dec. 31, 2022	$ 475,018	$ 164,753,604	$ (59,081,432)	$ (263,507)	$ (3,333,541)	$ 102,550,142
Balance (in Shares) at Dec. 31, 2022	285,005,647

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (21,548,700)	$ (9,482,448)	$ (18,359,602)
Adjustments to reconcile net income from operations to net cash provided by (used in) operating activities:
Depreciation and amortization	2,163,197	2,016,719	1,451,572
Provision for doubtful accounts	4,733,183	1,100,606	191,148
Share based compensation	5,983,907	6,335,246	1,473,976
Loss from disposal of property and equipment	104,091	4,661	1,548
Deferred tax benefit	(435,741)	(174,076)	(80,641)
Change in fair value of convertible debt	2,448,936	1,508,229	15,258,333
Accrued interest of convertible debt	195,139	226,775
Loss (gain) from disposition of a subsidiary	1,009	(714)
Right of use assets amortization	45,381
Changes in assets and liabilities:
Notes receivable	(13,375)		217,259
Accounts receivable	2,980,772	(10,459,509)	(2,004,618)
Contract costs		4,088,073	(795,174)
Prepayments, deposits and other assets	581,031	(70,480)	(1,196,470)
Accounts payable	(6,150,415)	(4,444,198)	3,010,706
Accounts payable-related party	(695,373)	725,362
Accrued expenses and other current liabilities	999,500	(1,359,673)	860,110
Prepaid expense – related parties			813,038
Taxes payable	(578,597)	15,089	(216,624)
Deferred revenue	(357,827)	220,459	158,474
Customer deposits	(49,006)	(11,507)	268,706
Lease liabilities	(63,837)
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	(9,656,725)	(9,761,386)	1,051,741
CASH FLOWS FROM INVESTING ACTIVITIES:
Repayment from (loans to) third parties	4,039,454	1,653,246	(64,281,291)
Purchases of property and equipment	(3,873,555)	(4,894,563)	(1,623,312)
Proceeds from disposal of property and equipment	45,670	1,907	70
Paid for long -term investment	(445,831)
NET CASH USED IN INVESTING ACTIVITIES	(234,262)	(3,239,410)	(65,904,533)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from bank loans	3,715,262	4,340,547	6,517,739
Repayments of bank loans	(5,201,367)	(4,650,586)	(3,765,757)
Proceeds from private placement and market offering	7,027,254	5,128,477	17,600,000
Proceeds from issuance of convertible note	7,979,983	6,860,000	50,000,000
Payments to related parties	(671,868)	(681,473)	(308,284)
(Repayment to) loan from third party	(445,831)	465,059
Capital contribution by non-controlling shareholder		247	91
NET CASH PROVIDE BY FINANCING ACTIVITIES	12,403,433	11,462,271	70,043,789
EFFECT OF EXCHANGE RATE CHANGES	(188,372)	205,069	(2,745,717)
NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH	2,324,074	(1,333,456)	2,445,280
CASH AND RESTRICTED CASH - beginning of year	7,056,248	8,389,704	5,944,424
CASH AND RESTRICTED CASH - end of year	9,380,322	7,056,248	8,389,704
Cash paid for:
Interest	203,380	211,197	203,289
Income taxes	718	3,836	15,706
NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES
Right of use assets obtained in exchange of lease liabilities	262,255
Conversion of convertible loans	3,795,924	6,343,172
Issuance shares for third party receivable	59,714
RECONCILIATION TO AMOUNTS ON CONSOLIDATED BALANCE SHEETS:
Cash	9,380,322	6,960,996	8,389,704
Restricted cash		95,252
Total cash and restricted cash	$ 9,380,322	$ 7,056,248	$ 8,389,704

Nature of Business and Organiza

Nature of Business and Organization	12 Months Ended
	Dec. 31, 2022
Nature of Business and Organization [Abstract]
Nature of business and organization	Note 1 — Nature of business and organization Powerbridge Technologies Co., Ltd. (“Powerbridge” or the “Company”), is a company that was established under the laws of the Cayman Islands on July 27, 2018 as a holding company. The Company, through its subsidiaries (collectively the “Company”), is a provider of software application and technology services to corporate and government customers engaged in global trade. Mr. Stewart Lor, the Company’s Chairman of the Board and Chief Executive Officer (“CEO”), together with his brother, Mr. Ban Lor, are the ultimate Controlling Shareholders of the Company. Initial Public Offering On April 4, 2019, the Company consummated its initial public offering (“IPO”) of 2,012,500 Ordinary Shares at a price of $5.00 per shares including the exercise in full of the underwriters’ over-allotment option of 262,500 ordinary shares at IPO price of $5.00 per share. The gross proceeds from the IPO were $10,062,500 and the net proceeds was $8,021,987. As a result of the IPO, the Ordinary Shares now trade on the Nasdaq Capital Market under the symbol “PBTS.” COVID-19 The COVID-19 pandemic has caused disruptions to our operations starting in December 2019. During the first quarter of 2020, our operations were closed in February due to China government mandates and we moved quickly to transition our colleague base to a fully remote working environment in all our locations. At the beginning of March 2020, substantially all of our employee were back to work in our offices. The ongoing COVID-19 pandemic not only adversely impacted our operations but business of our customers. We experienced delayed customer payments and rescheduled customer orders, which adversely impacts the Company’s results of operations, cash flows and financial position. During 2022, our business continued to be adversely impacted by the COVID-19 pandemic. Specifically, a new COVID-19 subvariant (Omicron) outbreak hit China in March 2022, spreading more quickly and easily than previous strains. As a result, a new round of lockdowns, quarantines, or travel restrictions has been imposed upon different provinces or cities in China by the relevant local government authorities. The lockdowns and quarantines delayed our existing project progress and adversely impacted our revenue. Meanwhile, the government had to cut back on fixed assets investment due to large public health expenditures, which in turn reduced new project gaining and had adverse impact on revenue. On December 7, 2022, China announced 10 new rules that constitute a relaxation of almost all of its stringent COVID-19 pandemic control measures. Shortly after their announcement, additional mobility restrictions issued by local governments were also scrapped. While such measures effectively reopened business within China, COVID-19’s continued existence may have significant and still not well-understood impacts on our industry. The extent of the impact on our future financial results will be dependent on future developments such as the length and severity of the crisis, the potential resurgence of the crisis, future government actions in response to the crisis and the overall impact of the COVID-19 pandemic on the global economy and capital markets, among many other factors, all of which remain highly uncertain and unpredictable. The Company continues taking actions to help mitigate, as best we can, the impact of the COVID-19 pandemic on the health and well-being of our employees, the communities in which we operate and our partners, as well as the impact on our operations and business as a whole. Reorganization A reorganization of the Company’s legal structure was completed on August 27, 2018. The reorganization involved the incorporation of Powerbridge, a Cayman Islands holding company, and its wholly owned subsidiaries, Powerbridge Holdings Co., Limited (“Powerbridge HK”), a holding company incorporated on July 27, 2018 under the laws of Hong Kong; and the transfer of all equity ownership of Powerbridge Technology Group Co., Ltd. (“Powerbridge Zhuhai”) to Powerbridge HK from the former shareholders of Powerbridge Zhuhai through an investment holding company. In consideration of the transfer, the Company issued 11,508,747 shares of the Company with par value 0.001 per share to the former shareholders of Powerbridge Zhuhai. On February 10, 2019, the board of directors approved a reverse stock split of the Company’s authorized number of Ordinary Shares at a ratio of 1-0.6. After the reverse stock split, the Company’s authorized number of Ordinary Shares was 300,000,000 shares with par value of $0.00166667 per share and 6,905,248 shares were issued and outstanding immediately after the reverse stock split. The Company has retroactively adjusted all shares and per share data for all the periods presented. Prior to the reorganization, Powerbridge Zhuhai’s equity interests were held by the former shareholders through an investment holding company, of which the Controlling Shareholders owned 84.9% of equity interest of Powerbridge Zhuhai. Powerbridge Zhuhai was incorporated on October 30, 1997 in Zhuhai, Guangdong province under the laws of the People’s Republic of China (the “PRC” or “China”). Powerbridge Zhuhai is an operating subsidiary that provides global trade software application and technology services to corporate and government customers located in the PRC. Beijing Powerbridge Technology Co., Ltd. (“Powerbridge Beijing”), a company conducting engineering and IT research and development activities, was incorporated on September 28, 2017 in Beijing under the laws of PRC, with Powerbridge Zhuhai owning 55% and Mr. Tianfei Feng owning 45% of equity interest. Since inception, Powerbridge Zhuhai and Mr. Tianfei Feng have only made nominal investments in Powerbridge Beijing and no substantial business operations have occurred; as a result, Powerbridge Zhuhai and Mr. Tianfei Feng agreed to deregister the entity. Mr. Tianfei Feng later became the Company’s Chief Research and Development Officer and the technology research and development activities originally conducted in Powerbridge Beijing are now conducted through the Beijing branch of Powerbridge Zhuhai. Powerbridge Beijing was deregistered on October 25, 2018. On August 7, 2018, the former shareholders transferred their 100% ownership interest in Powerbridge Zhuhai to Powerbridge HK, which is 100% owned by Powerbridge. After the reorganization, Powerbridge owns 100% equity interests of Powerbridge HK and Powerbridge Zhuhai. All shareholders have the same ownership interest in Powerbridge as in Powerbridge Zhuhai prior to the reorganization. Since the Company and its subsidiaries are effectively controlled by the same group of the shareholders before and after the reorganization, they are considered under common control. The above-mentioned transactions were accounted for as a recapitalization. The consolidation of the Company and its subsidiaries has been accounted for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the first period presented in the consolidated financial statements. As of December 31, 2022, the details of the Company’s principal subsidiaries are as follows: Major subsidiaries Percentage of Date of Place of Major Operation Powerbridge Holding Limited (“Powerbridge HK”, formerly known as “Powerbridge Technologies Co., Limited.”) (1) 100% by Powerbridge July 27, 2018 Hong Kong, PRC Investment holding Hongding Technology Co., Ltd (“Hongding”) 100% by Powerbridge July 28, 2020 Hong Kong, PRC Investment holding Powercrypto Holding Pte. Ltd. (“Powercrypto”) 100% by Powerbridge October 1, 2021 Singapore Management consultancy services Powercrypto USA Inc. 100% by Powerbridge April 5, 2022 USA Management consultancy services Powerbridge Technology Group Co., Ltd. (“Powerbridge Zhuhai”) 100% by Powerbridge HK October 30, 1997 the PRC software application and technology services Powerstream Supply Chain Co., Ltd. (“Powerstream”) 100% by Powerbridge HK August 17, 2021 the PRC Supply chain business Powermeta Digital Co., Ltd. (“Powermeta”) 100% by Powerbridge HK January 21, 2022 the PRC software application and technology services Powerstream Capital Co., Ltd. (“Powerstream Capital”) 100% by Powerbridge HK August 11, 2022 the PRC Investment,software application and technology services Shenzhen Hongding Interconnect Technology Co., Ltd. 100% by Hongding October 21, 2020 the PRC software application and technology services Shenzhen Honghao Internet Technology Co., Ltd (“Honghao”) 100% by Hongding July 28, 2020 the PRC software application and technology services Wuhan Honggang Technology Co., Ltd (“Honggang”) 60% by Powerbridge Zhuhai June 21, 2019 the PRC software application and technology services Chongqing Powerbridge Zhixin Technology Co., Ltd (“Zhixin”) (2) 45% by Powerbridge Zhuhai September 2, 2019 the PRC software application and technology services Hongxi Data Technology Co., Ltd. 70% by Powerbridge Zhuhai February 8, 2021 Macau software application and technology services Zhuhai Hongyang Supply Chain Co., Ltd. (“Zhuhai Hongyang”) 60% by Powerbridge Zhuhai July 21, 2021 the PRC Supply chain business Ningbo Zhijing Tongfu Technology Co., Ltd. (“Ningbo Zhijing”) (2) 51% by Powerbridge Zhuhai April 25, 2021 the PRC software application and technology services Metafusion Digital Co., Ltd (“Metafusion”) 66% by Powermeta Digital February 15, 2022 the PRC software application and technology services (1) On November 29, 2022, Powerbridge Technologies Co., Ltd changed the name to Powerbridge Holding Limited. (2) Certain third-party shareholders of Zhixin signed consents with the Company for the year ended December 31, 2022, which stated that the Company has the power and control to direct the activities that most significantly impact Zhixin and they unconditionally vote by consensus with the Company in all the board decisions. As such, the Company consolidates the financial results of Zhixin based on the voting power.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Nature of Business and Organization [Abstract]
Summary of significant accounting policies	Note 2 — Summary of significant accounting policies Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). Principles of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances are eliminated upon consolidation. All significant intercompany transactions and balances between the Company and its subsidiaries are eliminated upon consolidation. Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. Non-controlling interest represents the portion of the net assets of a subsidiary attributable to interests that are not owned by the Company. The non-controlling interest is presented in the consolidated balance sheets, separately from equity attributable to the shareholders of the Company. Non-controlling interest’s operating result is presented on the face of the consolidated statements of income and comprehensive income as an allocation of the total income for the year between non-controlling shareholders and the shareholders of the Company. Liquidity For the year ended December 31, 2022, the Company had working capital of approximately $59.5 million and incurred a net loss of approximately $21.5 million. For fiscal 2022, the Company had negative operation cash flow of approximately $9.7 million. The Company has historically funded its working capital needs primarily from public offering, operations, bank loans, advance payments from customers and shareholders. The working capital requirements are affected by the efficiency of operations, the numerical volume and dollar value of revenue contracts, the progress or execution on customer contracts, and the timing of accounts receivable collections. In assessing its liquidity, the Company monitors and analyzes its cash on hand, its ability to generate sufficient revenue sources in the future and its operating and capital expenditure commitments. As of December 31, 2022, the Company had cash of approximately $9.4 million. On September 1, 2022, the Company entered into a securities purchase agreement with White Lion Capital LLC (“White Lion”). Pursuant to the agreement, White Lion shall purchase up to $15 million of the Company’s ordinary shares at the lowest daily VWAP of the Ordinary Shares during the Valuation Period by 97%. As of December 31, 2022, the Company issued 22,875,000 ordinary shares and net proceeds was $3,519,202. In 2023, the Company issued 5,000,000 ordinary shares and net proceeds was $491,180. On September 9, 2022, the Company entered into a securities purchase agreement with YA II PN, LTD.. Pursuant to the agreement, YA II PN, LTD. shall purchase up to $30 million of the Company’s ordinary shares at the market price by 96%, and the company shall issue to YA II PN, LTD. 223,880 ordinary shares as a commitment fee. As of December 31, 2022, the Company issued 17,035,074 ordinary shares and net proceeds was $3,511,317. The Company issued 223,880 ordinary shares for commitment fee on January 1, 2023. In 2023, the Company issued 26,235,245 ordinary shares and net proceeds was $2,758,873. On November 29, 2022, the Company entered into a securities purchase agreement with TBS Capital LP, (“TBS”). Pursuant to the agreement, TBS shall purchase up to $15 million of the Company’s ordinary shares at the market price by 96%, and the company shall issue to Yorkville 223,880 ordinary shares as a commitment fee. The Company issued 223,880 ordinary shares for commitment fee on December 15, 2022. In 2023, the Company issued 6,250,000 ordinary shares and net proceeds was $530,000. The Company believes that its cash on hand and financing cash flows will be sufficient to fund its operations over at least the next 12 months from the date of this report. However, the Company may need additional cash resources in the future if the Company experiences changed business conditions or other developments, and may also need additional cash resources in the future if the Company wishes to pursue opportunities for investment, acquisition, strategic cooperation or other similar actions. If it is determined that the cash requirements exceed the Company’s amounts of cash on hand, the Company may seek to issue debt or equity securities or obtain a credit facility. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s consolidated financial statements include but not limited to the useful lives of property and equipment and capitalized development cost, impairment of long-lived assets, valuation of accounts receivables, valuation of convertible loans, loans to third parties, revenue recognition and realization of deferred tax assets and uncertain tax positions. Actual results could differ from these estimates. Foreign currency translation The functional currencies of the Company are the local currency of the county in which the subsidiaries operate. The Company’s financial statements are reported using U.S. Dollars. The results of operations and the consolidated statements of cash flows denominated in foreign currencies are translated at the average rates of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currencies is translated at the historical rates of exchange at the time of capital contributions. Because cash flows are translated based on the average translation rates, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income (loss) included in consolidated statements of changes in equity. Gains and losses from foreign currency transactions are included in the consolidated statement of operations and comprehensive income (loss). Fair value measurement ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market data. ● Level 3 — inputs to the valuation methodology are unobservable. Unless otherwise disclosed, the fair value of the Company’s financial instruments including cash, notes and accounts receivable, due from related parties, prepayments, deposits and other current assets, notes and accounts payable, customer deposits, salaries and benefits payables, due to related party and taxes payable approximates their recorded values due to their short-term maturities. The fair value of the long-term prepayments, deposits and other assets and loans to third parties approximate their carrying amounts because the deposits were paid in cash. The Company elected the fair value option to account for its convertible loan. The Company engaged an independent valuation firm to perform the valuation. The fair value of the convertible loans is calculated using the binomial tree model. The convertible loans are classified as level 3 instruments as the valuation was determined based on unobservable inputs which are supported by little or no market activity and reflect the Company’s own assumptions in measuring fair value. Significant estimates used in developing the fair value of the convertible loans include time to maturity, risk-free interest rate, straight debt discount rate, probability to convert and expected timing of conversion. Refer to Note 11 for additional information. As the inputs used in developing the fair value for level 3 instruments are unobservable, and require significant management estimate, a change in these inputs could result in a significant change in the fair value measurement. The following is a reconciliation of the beginning and ending balances for convertible notes measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of December 31, 2022 and 2021: December 31, December 31, 2022 2021 Opening balance $ 2,251,832 $ - Issuance of convertible note 7,979,983 6,860,000 Loss on change in fair value of convertible notes 2,448,936 1,508,229 Accrued interest 195,139 226,775 Conversion of convertible notes (3,795,924 ) (6,343,172 ) Total $ 9,079,966 $ 2,251,832 Cash and cash equivalent Cash and cash equivalent comprise cash at banks and on hand, which includes deposits with original maturities of three months or less with commercial banks in PRC. As of December 31, 2022 and 2021, cash balances were $9,380,322 and $6,960,996, respectively. Restricted cash Restricted cash mainly represents security deposits as required by certain customers on the Company’s projects. The deposits in restricted bank accounts cannot be withdrawn until the Company completes the related projects. Restricted cash is classified as either current or non-current based on when the funds will be released in accordance with the terms of the respective agreements. As of December 31, 2022 and 2021, restricted cash consists of cash equivalents of $ nil Accounts receivable, net Accounts receivable, net, is stated at the original invoiced amount net of write-offs and allowance for doubtful accounts. The Company reviews the accounts receivable on a periodic basis and makes allowances when there is doubt as to the collectability of individual balances. Past-due balances over 90 days are reviewed individually for collectability. In evaluating the collectability of individual accounts receivable balances, the Company considers several factors, including the age of the balance, the customer’s payment history, current credit-worthiness, and current economic trends. Accounts receivable balances are written off after all collection efforts have been exhausted. Typically, the Company includes unbilled receivables in accounts receivable for contracts on which revenue has been recognized, but for which the customer has not yet been billed. Unbilled receivables, substantially all of which are expected to be billed within one year are stated at their estimated realizable value and consist of costs and fees billable on contract completion or the occurrence of contractual payment phase. Prepayments, deposits and other assets, net Prepayment, deposit and other assets, net, primarily consists of advances to suppliers for purchasing goods or services that have not been received or provided; security deposits made to our customers; advances to employees and loan receivables from business partners. Prepayment, deposit and other assets are classified as either current or non-current based on the terms of the respective agreements. These advances are unsecured and are reviewed periodically to determine whether their carrying value has become impaired. Property and equipment, net Property and equipment, net, mainly comprise furniture and furniture, vehicles, compute, equipment and buildings are stated at cost less accumulated depreciation and impairment. Property and equipment are depreciated over the estimated useful lives of the assets on a straight-line basis, after considering the estimated residual value. The estimated useful lives are as follows: Useful Life Office equipment, fixtures and furniture 3-10 years Automobiles 5-8 years Capitalized development costs and software acquired 5-10 years Computer equipment 5 years Buildings 28 years Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and the related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is charged to the statement of income and comprehensive income. Capitalized development costs The Company follows the provisions of Accounting Standards Codification (“ASC”) 985-20, “Costs of Software to be Sold, Leased, or Marketed.” ASC 985-20 provides guidance on capitalization of the costs of software developed or obtained for sold, leased, or marketed. The Company expenses all costs incurred during the preliminary project stage of its development, and capitalizes costs incurred during the application development stage. Costs incurred relating to upgrades and enhancements to the application are capitalized if it is determined that these upgrades or enhancements add additional functionality to the application. The capitalized development cost is amortized on a straight-line basis over the estimated useful life, which is generally five years. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. Impairment for long-lived assets Long-lived assets, including property, equipment, furniture and fixtures and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. When these events occur, the Company measures impairment by comparing the carrying values of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amounts of the assets, the Company would recognize an impairment loss based on the excess of the carrying value over the assessed discounted cash flow amount. For the years ended December 31, 2022, 2021 and 2020 the Company recognized $ nil Long-term investments Long-term investments are primarily consisted of equity investments in privately held entities accounted for using the measurement alternative and equity investments accounted for using the equity method. On January 1, 2022, the Company adopted ASU 2016-01 Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. According to the guidance, the Company started to record equity investments at fair value, with gains and losses recorded through net earnings. And the Company elected to measure certain equity investments without readily determinable fair value at cost, less impairments, plus or minus observable price changes and assess for impairment quarterly. Equity investments without readily determinable fair values After the adoption of this new accounting standard, the Company elected to record equity investments without readily determinable fair values and not accounted for under the equity method at cost, less impairment, adjusted for subsequent observable price changes on a nonrecurring basis, and report changes in the carrying value of the equity investment in current earnings. Changes in the carrying value of the equity investment are required to be made whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer. Reasonable efforts shall be made to identify price changes that are known or that can reasonably be known. Equity investments with readily determinable fair values Equity investments with readily determinable fair values are measured and recorded at fair value using the market approach based on the quoted prices in active markets at the reporting date. Equity investments accounted for using the equity method The Company accounts for its equity investment over which it has significant influence but does not own a majority equity interest or otherwise control, using the equity method. The Company adjusts the carrying amount of the investment and recognizes investment income or loss for its share of the earnings or loss of the investee after the date of investment. The Company assesses its equity investment for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the entity, including current earnings trends and undiscounted cash flows, and other entity-specific information. The fair value determination, particularly for investments in a privately held entity, requires judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investment and determination of whether any identified impairment is other-than-temporary. Revenue recognition The Company adopted ASC Topic 606 Revenue from Contracts with Customers (“ASC 606”) on January 1, 2019 using the modified retrospective approach. Revenues for the years ended December 31, 2022, 2021 and 2020 were presented under ASC 606. There is no adjustment to the opening balance of retained earnings at January 1, 2019 since there was no change to the timing and pattern of revenue recognition upon adoption of ASC 606. Under ASC 606, revenue is recognized when control of promised goods or services is transferred to the Company’s customers in an amount of consideration to which an entity expects to be entitled to in exchange for those goods or services and is recorded net of value-added tax (“VAT”). To achieve that core principle, the Group applies the following steps: Step 1: Identify the contract (s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation The Company derives its revenues from four sources: (1) revenue from application development services, (2) revenue from consulting and technical support services, (3) revenue from subscription services. All of the Company’s contracts with customer do not contain cancelable and refund-type provisions and (4) trading revenue. (1) Revenue from application development service The Company’s application development service contracts are primarily on a fixed-price basis, which require the Company to perform services including project planning, project design, application development and system integration based on customers’ specific needs. These services also require significant production and customization. Upon delivery of the services, customer acceptance is generally required. In the same contract, the Company is generally required to provide post-contract customer support (“PCS’) for a period from three months to three years (“PCS period”) after the customized application development services are delivered. The type of services for PCS clause is generally not specified in the contracts or as stand-ready services on when-and-if-available basis. The unspecified PCS is stand-ready service on when-and-if-available basis. It grants the customers on line and telephone access to technical support personnel during the term of the service. Specified PCS includes specified service term in the contract such as training. The Company’s application development service revenues are generated primarily from contracts with PRC government or related agencies and state-owned enterprises. The contracts contain negotiated billing terms which generally include multiple payment phases throughout the contract term and a significant portion (30% - 50%) of contract amount usually is billed upon the completion of the related projects. Pursuant to the contract terms, the Company has enforceable right on payments for the work performed. The Company sometimes provides a warranty for its application development service contracts. The warranty period is typically 12-36 months upon the completion of the application development service. In accordance with ASC 606-10-25-19, the Company believes the warranty provision in the contracts generally represents service-type warranty, which is a distinct performance obligation and the Company also provides the similar service on standalone basis and customers can benefit from the related service-type warranty service. For the service warranty component, the customer simultaneously receives and consumes the benefits provided by the company performance over the warranty term, therefore, the service warranty is satisfied over time. The revenue allocated to the service warranty is recognized over the warranty period. The Company assesses that application development service, PCS or specific service and service-type warranty service, if applicable, are distinct performance obligations in the application development service contracts. The Company provides these services on standalone basis and customers are able to benefit from each of the service on its own. In addition, the timing of delivery of these performance obligations can be separately identifiable in the contracts. The transaction price is allocated to these identified performance obligations based on the relative standalone selling prices. The transaction price allocated to PCS or unspecific service and service-type warranty, if applicable, on a straight-line method over the contractual period. Revenue allocated to specified PCS is recognized as the related services are rendered. The transaction price allocated to application development service is recognized over time as the Company’s performance creates or enhances the project controlled by the customer and the control is transferred continuously to our customers. The Company uses an input method based on cost incurred as the Company believes that this method most accurately reflects the Company’s progress toward satisfaction of the performance obligation, which usually takes less than one year. Under this method, the transaction price allocated to application development service is recognized as work is performed based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligations. Incurred costs include all direct material, labor and subcontract costs, and those indirect costs related to application development performance, such as indirect labor, supplies, and tools. Cost-based input method requires the Company to make estimates of revenues and costs to complete the construction. In making such estimates, significant judgment is required to evaluate assumptions related to the costs to complete the application development, including materials, labor, and other system costs. The Company’s estimates are based upon the professional knowledge and experience of our engineers and project managers to assess the contract’s schedule, performance, technical matters. The Company has adequate cost history and estimating experience, and with respect to which management believes it can reasonably estimate total development costs. If the estimated costs are greater than the related revenues, the Company recognizes the entire estimated loss in the period the loss becomes known and can be reasonably estimated. Changes in estimates for application development services include but not limited to cost forecast changes and change orders. The cumulative effect of changes in estimates is recorded in the period in which the revisions to estimates are identified and the amounts can be reasonably estimated. To date, the Company has not incurred a material loss on any contracts. However, as a policy, provisions for estimated losses on such engagements will be made during the period in which a loss becomes probable and can be reasonably estimated. If contract modifications result in additional goods or services that are distinct from those transferred before the modification, they are accounted for prospectively as if the Company entered into a new contract. If the goods or services in the modification are not distinct from those in the original contract, sales and gross profit are adjusted using the cumulative catch-up method for revisions in estimated total contract costs and contract values. In certain application development service arrangements, the Company sells and delivers IT equipment on standalone basis prior to the delivery of the services. In these cases, the Company controls the IT equipment before they are transferred to the customer. The Company has the right to direct the suppliers and control the goods or assets transferred to its customers. Thus, the Company considers it should recognize revenue as a principal in the gross amount of consideration to which it is entitled in exchange for the IT equipment delivered. The Company assesses the sale of equipment is separately identifiable from other promises in the contract and it is distinct performance obligation within the context of the contract. Accordingly, the revenue from the related IT equipment based on its relative standalone selling price is recognized upon customer acceptance after delivery. (2) Revenue from consulting and technical support services Revenue from consulting and technical support services is primarily comprised of fixed-fee contracts, which require the Company to provide professional consulting and technical support services over contract terms beginning on the commencement date of each contract, which is the date its service is made available to customers. Billings to the customers are generally on a monthly or quarterly basis over the contract term, which is typically 12 to 24 months. The consulting and technical support services contracts typically include a single performance obligation. The revenue from consulting and technical support services is recognized over the contract term on a straight-line basis as customers receive and consume benefits of such services. (3) Revenue from subscription services Revenue from subscription services is comprised of subscription fees from customers accessing the Company’s software-as-a-service applications for a subscribed period. The Company’s monthly or quarterly billing to customer is on the basis of number of uses or the actual usage by the customers. The subscription arrangements are considered service contracts because customers do not have the right to take possession of the software and can only benefit from the software when provided the right to access the software. Accordingly, the subscription services contracts typically include a single performance obligation. The revenue from subscription services is recognized over the contract term on a straight-line basis or based on the actual usage as customers receive and consume benefits of such services. (4) Trading revenue The Company started trading business (sales of consumables) for the year ended December 31, 2021 and recognized revenue at a point in time when control of such products transfers to the customer, which generally occurs upon shipment or delivery depending on the terms of the contracts with the customer. Product sale contracts typically include a single performance obligation and there are no rights of return. The transaction price is based on the fixed contractual price with the customer. Billings to the customer for the sale of products occur at the time the products are transferred to the customer. Revenue from trading business accounted for 31.8% of the Company’s revenue for the year ended December 31, 2022. Revenue includes reimbursements of travel and out-of-pocket expense, with equivalent amounts of expense recorded in cost of revenue. The Company reports revenues net of value added tax (“VAT”). The Company’s subsidiaries in PRC are subject to a 6% to 13% value added tax (“VAT”) and related surcharges on the revenues earned from providing services or products. Practical Expedient and Exemptions The Company does not disclose the value of unsatisfied performance obligations within one year by applying the right to invoice practical expedient provided by ASC 606-10-55-18. Contract costs Contract costs include contract acquisition costs and contract fulfillment costs which are all recorded within prepayments, deposits, and other assets in the consolidated balance sheets. Contract acquisition costs consist of incremental costs incurred by the Company to originate contracts with customers. Contract acquisition costs, which generally include costs that are only incurred as a result of obtaining a contract, are capitalized when the incremental costs are expected to be recovered over the contract period. All other costs incurred regardless of obtaining a contract are expensed as incurred. Contract acquisition costs are amortized over the period the costs are expected to contribute directly or indirectly to future cash flows, which is generally over the contract term, on a basis consistent with the transfer of goods or services to the customer to which the costs relate. Contract fulfillments costs consist of costs incurred by the Company to fulfill a contract with a customer and are capitalized when the costs generate or enhance resources that will be used in satisfying future performance obligations of the contract and the costs are expected to be recovered. Capitalized contract fulfillment costs generally include contracted services, direct labor, materials, and allocable overhead directly related to resources required to fulfill the contract. Contract fulfillment costs are recognized in cost of revenue during the period that the related costs are expected to contribute directly or indirectly to future cash flows, which is generally over the contract term, on a basis consistent with the transfer of goods or services to the customer to which the costs are related. There were no contract fulfillment cost and contract acquisition costs as of December 31, 2022 and 2021. Contract balance The accounts receivable includes both unbilled accounts receivable and billed accounts receivable. The Company records unbilled accounts receivable for revenue that has been recognized in advance of billing the customer, which is common for application development service contracts. The unbilled accounts receivable represents the Company’s right to consideration in exchange for the service that the Company has performed to the customer before payment is due and the unbilled account receivable will be reclassified into billed accounts receivable when the Company has the right to invoice. Contract liabilities are presented as customer deposits and deferred revenue on the consolidated balance sheet. Contract liabilities relate to payments received in advance of completion of performance obligations under a contract. Contract liabilities are recognized as revenue upon the completion of performance obligations. As of December 31, 2022 and 2021, the balance of customer deposits amounted to $483,735 and $575,303, respectively. As of December 31, 2022 and 2021 the balance of deferred revenue amounted to $893,263 and $1,344,637, respectively. Government subsidies Government subsidies mainly represent amounts grante

Accounts Receivable, Net

Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2022
Accounts Receivable, Net [Abstract]
Accounts receivable, net	Note 3 — Accounts receivable, net Accounts receivable, net, consists of the following: As of December 31, 2022 2021 Accounts receivable $ 21,895,260 $ 26,825,337 Less: Allowance for doubtful accounts (7,080,677 ) (2,607,600 ) Total accounts receivable, net $ 14,814,583 $ 24,217,737 Unbilled accounts receivable included in accounts receivable above amounted to $10,027,584 and $13,067,528 as of December 31, 2022 and 2021, respectively. The unbilled accounts receivables as of December 31, 2022 are expected to be billed within one year and collected over one year. The billed accounts receivable is expected to be collected within one year. As of March 28, 2023, approximately $1.6 million (or 7.3%) of total accounts receivable as of December 31, 2022 was collected. It represented 12.5% of billed accounts receivable balance and 1.1% of unbilled accounts receivable balance as of December 31, 2022 were subsequently collected, respectively. Movement of allowance for doubtful accounts is as follows: As of December 31, 2022 2021 2020 Beginning balance $ 2,607,600 $ 1,581,142 $ 1,669,658 Provision for doubtful accounts 4,783,518 1,011,760 - Recovery - - (189,286 ) Written-off - (34,879 ) - Foreign currency translation adjustments (310,441 ) 49,577 100,770 Ending balance $ 7,080,677 $ 2,607,600 $ 1,581,142

Prepayments, Deposits and Other

Prepayments, Deposits and Other Assets, Net	12 Months Ended
	Dec. 31, 2022
Prepayments, Deposits and Other Assets, Net [Abstract]
Prepayments, deposits and other assets, net	Note 4 — Prepayments, deposits and other assets, net Prepayments, deposits and other assets, net consisted of the following: As of December 31, 2022 2021 Security deposits (1) $ 216,446 $ 381,813 Advances to suppliers 564,810 1,483,084 Advances to employees 141,249 317,725 Prepaid expense 976,788 360,074 Others 139,976 188,216 2,039,269 2,730,912 Less: Long term portion (226,544 ) (381,656 ) Allowance for doubtful accounts (364,973 ) (313,844 ) Prepayments, deposits and other assets – current portion $ 1,447,752 $ 2,035,412 (1) Security deposits mainly represent contract fulfillment deposits required by customer for specific projects, rent deposits and etc. Movement of allowance for doubtful accounts is as follows: As of December 31, 2022 2021 2020 Beginning balance $ 313,844 $ 306,513 $ 31,139 Provision for doubtful accounts 75,000 88,846 258,280 Written-off - (88,846 ) - Foreign currency translation adjustments (23,871 ) 7,331 17,094 Ending balance $ 364,973 $ 313,844 $ 306,513

Loans to Third Parties

Loans to Third Parties	12 Months Ended
	Dec. 31, 2022
Loans to Third Parties [Abstract]
Loans to third parties	Note 5 — Loans to third parties Loans to third parties consisted of the following: As of December 31, 2022 2021 Unsecured loan receivable from third parties (1) $ - $ 300,000 Guaranteed loan receivable from media business (2) 59,612,192 68,468,129 59,612,192 68,768,129 Less: Long term portion - (64,951,511 ) Prepayments, deposits and other assets – current portion $ 59,612,192 $ 3,816,618 (1) As of December 31,2021, the loan to third party (Yuxia Xu) amounted to $300,000 with annual interest approximately 4.85% upon maturity, unsecured and due on March 7, 2022. The interest rate raised to 10% after March 7, 2021. Yuxia Xu was appointed CFO and Chief Operating Officer, with effect from May 1, 2022, so the loan balance as of December 31, 2022 was reclassified to due to related party. (2) Pursuant to the agreement with Shenzhen Kezhi Technology Co., Ltd.(“Kezhi”) on September 25, 2020 and a series of amendments entered during the period from September 25, 2020 to May 16, 2021, the Company intends to expand to media business through Kezhi. The Company originally planned to acquire certain media business assets from Kezhi, however, due to uncertainties in COVID-19, the Company and Kezhi ultimately reached into a final agreement (“Final agreement”) on May 16, 2021. Pursuant to the Final agreement, the Company agreed to extend a working capital support loan to Kezhi in aggregated of $64,420,344 (RMB444,320,000) with expected annual returns over two years and coupon interest rate of 5%. The company collected $4,808,152 (RMB33,162,788) in fiscal year 2022. As of December 31, 2022, the outstanding balance was $59,612,192 (RMB 411,157,212). On January 5, 2023, the Company, Kezhi, the guarantor and the guarantor’s senior management Mr. Su Haoqing, entered into a debt extinguish agreement. Pursuant to the agreement, Mr. Su Haoqing settled the remaining RMB $59,612,192 (RMB411,157,212) debt by rendering 20 antique art pieces. .The company is performing valuation for accounting recognition purposes by a third-party valuation company.

Long Term Investment

Long Term Investment	12 Months Ended
	Dec. 31, 2022
Long Term Investment [Abstract]
Long term investment	Note 6 — Long term investment Equity Cost method Total Balance as of January 1, 2022 $ - $ - $ - Additions 11,120,935 19,643,260 30,764,195 Balance as of December 31, 2021 $ 11,120,935 $ 19,643,260 $ 30,764,195 (i) During the year ended December 31, 2022, the Company invested $434,960 (RMB3.0 million) cash and issued 5,756,481 shares (equivalent to $1,844,377) for 5.0% equity interest in Shenzhen Chenbao Information service Co., Ltd. (“Chenbao”) in which the Company does not have significant influence and such investment does not have readily determinable fair values. On January 20, 2022, the Company invested issued 17,138,305 shares (equivalent to $8,305,222) for 19.99% equity interest in SamartConn CO., Limited (“SamartConn”) in which the Company does not have significant influence and such investment does not have readily determinable fair values. On November 1, 2022, the Company invested issued 55,506,750 shares (equivalent to $9,058,701) for 19% equity interest in DTI Group Limited (“DTI”) in which the Company does not have significant influence and such investment does not have readily determinable fair values. On January 1, 2022, the Company gained 5% equity interest in Guangzhou Xingsheng Information Technology Limited for $0 consideration, in which the Company does not have significant influence and such investment does not have readily determinable fair values. (ii) On June 28, 2022, the Company invested issued 19,942,553 shares (equivalent to $6,674,772) for 15% equity interest in Boxinrui International Holdings Limited (“Boxinrui”) in which the Company does not have significant influence and such investment do not have readily determinable fair values. On December 28, 2022, the Company further issued 55,300,530 shares (equivalent to $4,446,163) for 20% equity interest in Boxinrui International Holdings Limited. As a result, the Company considers it has significant influence on this investment based on its voting power.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and equipment, net	Note 7 — Property and equipment, net Property and equipment, net, consist of the following: As of December 31, 2022 2021 Computer equipment $ 380,055 $ 544,972 Office equipment, fixtures and furniture 2,033,617 2,133,433 Capitalized development cost and software acquired 10,886,033 10,464,573 Automobiles 189,325 224,713 Buildings 4,715,189 - Construction in Progress - 2,656,120 Subtotal 18,204,219 16,023,811 Less: accumulated depreciation and amortization (7,207,577 ) (5,761,393 ) Total $ 10,996,642 $ 10,262,418 Depreciation and amortization expense for the years ended December 31, 2022, 2021 and 2020 amounted to $359,344, $324,367 and $310,845, respectively. The Company capitalized development costs related to its core supporting modules of the global trade applications and solutions incurred during the application development stage. The amortization expense for the years ended December 31, 2022, 2021 and 2020 totaled $1,803,853, $1,692,352 and $1,140,727, respectively. As of December 31, 2022, buildings with net book value amounted to $4,184,190 were pledged for obtaining various of loans (See Note 9). The estimated amortization of capitalized development cost is as follows: Twelve months ending December 31, Estimated 2023 $ 1,740,480 2024 1,463,967 2025 971,331 2026 501,910 2027 192,039 Total $ 4,869,727

Related Party Balances and Tran

Related Party Balances and Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related party balances and transactions	Note 8 — Related party balances and transactions Related party transactions and balances Name of Related Party Relationship to the Company Guangzhou Jiatu Culture Media Co., Ltd. (formerly as Guangzhou Powerbridge Blockchain Co., Ltd.) Company has significant influence over with this entity Ban Lor Shareholder of the Company Stewart Lor CEO Yuxia Xu CFO Hong Yu shareholder of Zhixin Shanghai Stamp Technology Co., Ltd. The Company owns equity interest Ling Lor Ban Lor’s spouse Hybridge Holding Limited Shareholder of the Company Guangodong Guangrui Network Technology Co., Ltd. (Guangdong Guangrui) Company has significant influence over with this entity. a Due from related parties: As of December 31, 2022 2021 Guangzhou Jiatu Culture Media Co., Ltd. (1) $ - $ 132,345 Shanghai Stamp Technology Co., Ltd. (2) 172,811 - Ling Lor (2) - 8,661 Ban Lor (2) 37,638 706,148 Stewart Lor (2) 1,566,478 781,284 Yuxia Xu (2) 363,666 - Subtotal 2,140,593 1,628,438 Less: allowance for doubtful accounts - (132,345 ) Due from related parties, net $ 2,140,593 $ 1,496,093 (1) In 2020, the Company had consulting fee prepayment of $132,345 to Guangzhou Jiatu Culture Media Co., Ltd. as of December 31, 2021, which the Company has significant influence over with. Both parties negotiated to terminate the consulting service. The balance of $132,345 as of December 31, 2021 was fully allowanced in 2021. From April to June 2022, Guangzhou Jiatu Culture Media Co., Ltd. continued to provide equivalent services, so the allowance was recovered. On June 2, 2022, the Company’s CFO sold the equity interest in Jiatu Culture Media Co., Ltd., so Jiatu Culture Media Co., Ltd. no longer considered as a related party. (2) From time to time, the Company advances funds to senior management for business purpose. b Due to related party: As of December 31, 2022 2021 Hong Yu (1) $ 118,114 $ 108,990 Hybridge Holding Limited (1) - 109,872 Subtotal $ 118,114 $ 218,862 (1) The above balances represent unpaid loan and expenses to these related parties. c Accounts payable-related party As of December 31, 2022 2021 Guangzhou Guangrui (1) $ - $ 734,263 Subtotal $ - $ 734,263 (1) As the disposal of Shantou Hongrui in Febuary 2022, Guangzhou Guangrui was no longer considered as a related party and the balance was reclassified to account payable. d Related party transactions For the years ended 2022 2021 2020 Guangzhou Guangrui (1) Service fees $ - $ 725,362 $ - Guangzhou Jiatu Culture Media Co., Ltd. (2) Service fees $ 62,667 $ - $ - Stewart Lor Interest income $ 117,569 $ - $ - Yuxia Xu Interest income $ 22,802 $ - $ - Shanghai Stamp Technology Co., Ltd. Interest income $ 1,771 $ - $ - (1) As the disposal of Shantou Hongrui in Febuary 2022, Guangzhou Guangrui was no longer considered as a related party. (2) On June 2, 2022, the Company’s CFO sold the equity interest in Jiatu Culture Media Co., Ltd., so Jiatu Culture Media Co., Ltd. no longer considered as a related party.

Bank Loans

Bank Loans	12 Months Ended
	Dec. 31, 2022
Bank Loans [Abstract]
Bank loans	Note 9 — Bank loans Outstanding balance of short-term bank loans consisted of the following: December 31, December 31, Loan from Bank of Communication $ 2,174,796 $ 1,569,218 Loan from Bank of China 434,959 470,765 Loan from Guangfa Bank - 2,353,828 $ 2,609,755 $ 4,393,811 On November 4, 2021, Powerbridge Zhuhai entered into a loan agreement with Bank of Communication to obtain a loan of $880,239 for a term of one year and at a fixed annual interest rate of 4.5675%. The bank loan was guaranteed by a third party. The loan was fully repaid upon maturity. On November 11, 2021, Powerbridge Zhuhai entered into a loan agreement with Bank of Communication to obtain a loan of $688,979 for a term of one year and at a fixed annual interest rate of 4.5675%. The bank loan was guaranteed by a third party. The loan was fully repaid upon maturity. On January 28, 2022, Powerbridge Zhuhai entered into a loan agreement with Bank of Communication to obtain a loan of $1,449,864 for a term of one year and at a fixed annual interest rate of 4.70%. The bank loan was guaranteed by the representative of Zhuhai Powerbridge and pledged approximately $2.4 million fixed assets as the collateral to secure the loan. The loan was fully repaid upon maturity subsequently. On December 16, 2022, Powerbridge Zhuhai entered into a loan agreement with Bank of Communication to obtain a loan of $724,932 for a term of one year and at a fixed annual interest rate of 4.10%. The bank loan was guaranteed by the Company’s CEO and CEO’s spouse. On March 9, 2021, Powerbridge Zhuhai entered into a loan agreement with Bank of China to obtain a loan of $470,765 for a term of one year and at a fixed annual interest rate of 4.50%. The bank loan was guaranteed by Mr. Ban Lor. The loan was fully repaid upon maturity. On June 10, 2022, Powerbridge Zhuhai entered into a loan agreement with Bank of China to obtain a loan of $724,932 for a term of one year and at a fixed annual interest rate of 4.50%. The bank loan was guaranteed by the representative of Zhuhai Powerbridge and pledged approximately $1.8 million fixed assets as the collateral to secure the loan. On December 30, 2022, the Company partially repaid $289,973 in advance. On July 15, 2022, Powerbridge Zhuhai entered into a loan agreement with Bank of China to obtain a loan of $724,932 for a term of one year and at a fixed annual interest rate of 4.50%. The bank loan was guaranteed by the representative of Zhuhai Powerbridge and pledged approximately $1.8 million fixed assets as the collateral to secure the loan. On December 30, 2022, the Company fully repaid the loan in advance. On March 10, 2021, Powerbridge Zhuhai entered into a loan agreement with Guangfa Bank to obtain a loan of $2,353,828 for a term of one year and at a fixed annual interest rate of 5.3%. The bank loan was guaranteed by Mr. Ban Lor and the company’s account receivable of some programs was pledged to secure the loan. The loan was fully repaid upon maturity. For the years ended December 31, 2022, 2021 and 2020, interest expense was $203,380, $211,197 and $203,289, respectively, with the weighted average interest rate of 5.1%, 5.0% and 4.7%, respectively.

Lease

Lease	12 Months Ended
	Dec. 31, 2022
Lease [Abstract]
Lease	Note 10 — Lease The Company has several operating leases for offices. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Effective January 1, 2022, the Company adopted the new lease accounting standard using a modified retrospective transition method which allowed the Company not to recast comparative periods presented in its consolidated financial statements. In addition, the Company elected the package of practical expedients, which allowed the Company to not reassess whether any existing contracts contain a lease, to not reassess historical lease classification as operating or finance leases, and to not reassess initial direct costs. The Company has not elected the practical expedient to use hindsight to determine the lease term for its leases at transition. The Company combines the lease and non-lease components in determining the ROU assets and related lease obligation. Adoption of this standard resulted in the recording of operating lease ROU assets and corresponding operating lease liabilities as disclosed below and had no impact on accumulated deficit as of January 1, 2022. ROU assets and related lease obligations are recognized at commencement date based on the present value of remaining lease payments over the lease term. Total lease expense for the years ended December 31, 2022, 2021 and 2020 amounted to $162,799, $307,497 and $305,832, respectively. Supplemental balance sheet information related to operating leases was as follows: December 31, Right-of-use assets, net $ 211,585 Operating lease liabilities - current 91,587 Operating lease liabilities - non-current 101,992 Total operating lease liabilities $ 193,579 The weighted average remaining lease terms and discount rates for all of operating leases were as follows as of December 31, 2022: Remaining lease term and discount rate: Weighted average remaining lease term (years) 2.4 years Weighted average discount rate 5.0 % The following is a schedule of maturities of lease liabilities as of December 31, 2022: Twelve months ending June 30, RMB 2023 99,014 2024 76,601 2025 28,772 Total future minimum lease payments 204,387 Less: imputed interest 10,808 Present value of lease liabilities 193,579

Convertible Note

Convertible Note	12 Months Ended
	Dec. 31, 2022
Convertible Debt [Abstract]
Convertible Note	Note 11 — Convertible Notes On April 9, 2021, the Company entered into certain securities purchase agreement with YA II PN, LTD. (“YA”), pursuant to which the Investor purchases convertible notes (the “Notes”) in the principal amount of US$7,000,000, which shall be convertible into the Company’s ordinary shares par value $0.00166667 per share, and a warrant to purchase 571,429 ordinary shares, for gross proceeds of approximately US$6,790,000. The Notes have a conversion price of the lower of (i) US$3.675 per ordinary shares (the “Fixed Conversion Price”), or (ii) 90% of the lowest daily VWAP (Volume-Weighted Average Price) during the 10 consecutive trading days immediately preceding the conversion date or other date of determination, but not lower than the floor price of US$1.50 per ordinary share. The principal will become due and payable 12 months from the date of closing (the “Maturity Date”) and bears an annual interest rate of 6% unless earlier converted or redeemed by the Company. At any time before the Maturity Date, YA may convert the Notes at its option into ordinary shares at the conversion price. On August 7, 2021, the Company entered into an amendment (the “Closing Statement”) to the securities purchase agreement initially entered into with YA on April 9, 2021 (the “Purchase Agreement”). Pursuant to the Purchase Agreement, YA agreed to purchase convertible notes (the “Notes”) in the aggregate principal amount of US$7,000,000 (the “Principal”), which shall be convertible into the Company’s ordinary shares par value $0.00166667 per share, and a warrant (the “Warrant”) to purchase 571,429 Ordinary Shares (the “Offering”), for gross proceeds of approximately US$6,790,000. The first closing of the offer and sale of the first Note (the “First Note”) in the principal amount of $4,000,000 was completed on April 9, 2021. Pursuant to the Closing Statement, the Company and YA agreed that, among other thing, (i) the Principal shall be increased to US$8,000,000; (ii) the principal amount of the second Note (the “Second Note”) is reduced from $3,000,000 to $2,000,000; the closing of the second Note in the principal amount of $2,000,000 was completed on August 9, 2021. (iii) the number of ordinary shares to be issued pursuant to the Warrant shall be increased from 571,429 to 653,061; and (iv) promptly after the Securities and Exchange Commission (the “SEC”) declares effective a registration statement to be filed by the Company pursuant to a registration rights agreement (the “Registration Rights Agreement”), YA agrees to purchase the third Note (the “Third Note”) in the principal amount of $2,000,000, which shall have identical terms as those of the Second Note. Except as expressly amended by the Closing Statement, the Second Note has essentially identical terms to the First Note. On September 1, 2022, the Company entered into a securities purchase agreement with Streeterville Capital, LLC (“Streeterville”), pursuant to which the Company issued the Investor an unsecured promissory note on September 1, 2022 in the original principal amount of $8,640,000 (the “Note”), convertible into ordinary shares, par value $0.00166667 per share, of the Company, for $8,000,000 in gross proceeds. The transaction contemplated by the Purchase Agreement closed on September 1, 2022. The Note bears interest at a rate of 6% per annum compounding daily. All outstanding principal and accrued interest on the Note will become due and payable twelve months after the purchase price of the Note is delivered by Purchaser to the Company (the “Purchase Price Date”). The Note includes an original issue discount of $640,000 along with $20,000 for Streeterville’s fees, costs and other transaction expenses incurred in connection with the purchase and sale of the Note. The Company may prepay all or a portion of the Note at any time by paying 120% of the outstanding balance elected for pre-payment. Conversion of convertible notes For the year ended December 31, 2022, YA delivered conversion notice for convertible notes in an aggregate of principle of $2,000,000 to the Company and the Company issued an aggregate of 5,929,838 ordinary shares, par value $0.00166667 per share, of the Company, to YA. The fair value of the conversion note was assessed at $2,261,270 upon conversion based on the binomial model assessed by the independent valuation firm. The Company has elected to recognize the convertible note at fair value and therefore there was no further evaluation of embedded features for bifurcation. The Company engaged third party valuation firm to perform the valuation of convertible note. The fair value of the convertible note is calculated using the binomial tree model based on probability of remaining as straight debt using discounted cash flow with the following assumptions February 9, Risk-free interest rate 0.53-0.91 % Expected life 0.20-0.48 year Discount rate 9.33-11.22 % Expected volatility 80.48-143.72 % Expected dividend yield 0 % Fair value $ 2,261,270 For the year ended December 31, 2022, Streeterville delivered conversion notice for convertible notes in an aggregate of principle of $1,250,310 to the Company and the Company issued an aggregate of 13,981,758 ordinary shares, par value $0.00166667 per share, of the Company, to Streeterville. The fair value of the conversion note was assessed at $1,534,654 upon conversion based on the binomial model assessed by the independent valuation firm. November 8, Risk-free interest rate 4.66-4.72 % Expected life 0.70-0.83 year Discount rate 1137-11.72 % Expected volatility 99.91-103.93 % Expected dividend yield 0 % Fair value $ 1,534,654 The convertible notes are classified as level 3 instruments as the valuation was determined based on unobservable inputs which are supported by little or no market activity and reflect the Group’s own assumptions in measuring fair value. Significant inputs used in developing the fair value of the convertible notes include time to maturity, risk-free interest rate, straight debt discount rate, probability to convert and expected timing of conversion. For the years ended December 31, 2022, 2021 and 2020, the Company recognized a loss of change in fair value of convertible note of $2,448,936, $1,508,229 and $15,258,333, respectively. Interest expense recognized for these convertible notes for the years ended December 31, 2022, 2021 and 2020 were$195,139, $226,775 and $ nil

Taxes

Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Taxes	Note 12 — Taxes (a) Income tax Cayman Islands Powerbridge was incorporated in the Cayman Islands and is not subject to tax on income or capital gains under the laws of Cayman Islands. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders. Hong Kong Powerbridge HK is established in Hong Kong. Under the Hong Kong tax laws, Powerbridge HK is exempted from income tax on its foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends. PRC Powerbridge Zhuhai is governed by the Enterprise Income Tax (“EIT”) laws of PRC. Under EIT laws of PRC, domestic enterprises and Foreign Investment Enterprises (the “FIE”) are usually subject to a unified 25% enterprise income tax rate while preferential tax rates, tax holidays and even tax exemption may be granted on case-by-case basis. EIT grants preferential tax treatment to certain High and New Technology Enterprises (“HNTEs”). Under this preferential tax treatment, HNTEs are entitled to an income tax rate of 15%, subject to a requirement that they re-apply for HNTE status every three years. Powerbridge Zhuhai, the Company’s operating subsidiary in PRC, has been approved as HNTEs in 2014 and successfully renewed it in 2020, which reduced its statutory income tax rate to 15%. The rest of the Company’s subsidiaries in PRC are subject to income tax rate of 25%. The impact of the preferred tax treatment noted above decreased income taxes by $662,675, $89,850 and $25,735 for the fiscal years 2022, 2021 and 2020, respectively. The benefit of the preferred tax treatment on net income per share (basic and diluted) was nil nil nil Significant components of the provision for income taxes are as follows: For the years ended December 31, 2022 2021 2020 Current $ (563,650 ) $ 135 $ 109 Deferred (435,741 ) (174,076 ) (80,641 ) Total income tax benefit $ (999,391 ) $ (173,941 ) $ (80,532 ) The following table reconciles China statutory rates to the Company’s effective tax rate: For the years ended December 31, 2022 2021 2020 PRC statutory rates 25.0 25.0 % 25.0 % Preferential tax rates (2.9 ) (25.8 )% (25.0 )% R&D credits 1.5 3.0 % 1.7 % Change in valuation allowance and others (19.2 ) (0.4 )% (1.3 )% Effective tax rate 4.4 1.8 % 0.4 % Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The significant components of the deferred tax assets are as follows: As of December 31, 2022 2021 Deferred tax assets: Provision for doubtful accounts $ 1,260,557 $ 455,343 Depreciation and amortization 162,980 145,928 Net operating loss carryforward 1,388,155 738,187 Valuation allowance (1,831,039 ) (738,187 ) Total deferred tax assets $ 980,653 $ 601,271 As of December 31, 2022, the Company has approximately $8.6 million net operating loss (“NOL”) carryforwards with expirations by 2027. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the cumulative earnings and projected future taxable income in making this assessment. Recovery of substantially all of the group’s deferred tax assets is dependent upon the generation of future income, exclusive of reversing taxable temporary differences. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are recoverable, management provided $1,831,039 and $738,187 valuation allowance against the deferred tax assets that the Company does not expect to realize at December 31, 2022 and 2021, respectively. (b) Value added tax Enterprises who sell goods in the PRC are subject to a value added tax in accordance with PRC laws. VAT standard rates are 6% to 13% of the gross sales price. A credit is available whereby VAT paid on the purchases of semi-finished products or raw materials used in the production of the Company’s finished products can be used to offset the VAT due on sales of the finished products and services. Powerbridge Zhuhai obtained a VAT preferential status for its technology development business, accordingly, the certain Company’s technology development business is exempted from VAT. (c) Tax payable Taxes payable consists of the following: As of December 31, 2022 2021 Income taxes payable $ - $ 594,026 VAT and other tax payable 110,843 136,898 Totals $ 110,843 $ 730,924 Uncertain tax positions The Company may be subject to challenges from various PRC taxing authorities regarding the amounts of taxes due, although the Company’s management believes the Company has paid or accrued for all taxes owed by the Company. As of December 31, 2022 and 2021, the Company had accrued (before adjustment) total income tax liabilities of $550,602 and $594,026, respectively. According to PRC taxation regulation and administrative practice and procedures, the statute of limitation on tax authority’s audit or examination of previously filed tax returns expires three years from the date they were filed. The Company also obtained a written statement from the local tax authority that no additional taxes are due as of December 31, 2022. Based on these facts, the Company reversed the accrued tax liabilities in the total amount of $550,602 (or RMB3,798,484) relating to the tax liabilities accrued for the period from fiscal 2016 to fiscal 2018, resulting in the decrease of accrued income tax liabilities from $550,602 to $ nil The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of December 31, 2022 and 2021, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur any interest and penalties related to potential underpaid income tax expenses for the years ended December 31, 2022,2021 and 2020. The Company also does not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from December 31, 2022.

Equity

Equity	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Equity	Note 13 — Equity Ordinary Shares Powerbridge was established under the laws of Cayman Islands on July 27, 2018. The original authorized number of Ordinary Shares was 500,000,000 shares with a par value of $0.0001 per share. On August 18, 2018, in order to optimize the Company’s share capital structure, the board of directors approved a reverse stock split of the Company’s authorized number of Ordinary Shares at a ratio of 10-1. After the reverse stock split, the Company’s authorized number of Ordinary Shares became 50,000,000 shares with par value of $0.001 per share and 11,508,747 shares were issued on August 27, 2018 at par value to the original shareholders of Powerbridge Zhuhai, the equivalent to share capital of $11,509. On February 10, 2019, the board of directors further approved a reverse stock split of the Company’s authorized number of Ordinary Shares at a ratio of 1-0.6. After the reverse stock split, the Company’s authorized number of Ordinary Shares was 30,000,000 shares with par value of $0.00166667 per share and 6,905,248 shares were issued and outstanding immediately after the reserve stock split. The Company believes it is appropriate to reflect these share issuances as nominal share issuance on a retroactive basis similar to stock split pursuant to ASC 260. The Company has retroactively adjusted all shares and per share data for all the periods presented. On September 30, 2020, the Company held its 2020 special general meeting of shareholders (the “Meeting”). At the Meeting, the Company’s shareholders approved the Company’s amended and restated Memorandum and Articles of Association (“A&R M&A”) to increase the authorized share capital. As a result, the Company’s authorized share capital was $500,000 divided into 300,000,000 shares of a par value of US$0.00166667 each, with an increase of an additional 270,000,000 shares of a par value of US$0.00166667 each. On December 5, 2022, the Company held its 2022 special general meeting of shareholders. At the Meeting, the Company’s shareholders approved an amendment to the Company’s amended and restated Memorandum and Articles of Association (“A&R M&A”) to increase the authorized share capital. As a result, the Company’s authorized share capital is $16,666,700 divided into 10,000,000,000 shares of a par value of US$0.00166667 each, with an increase of an additional 9,700,000,000 shares of a par value of US$0.00166667 each. The Company had 285,005,647 and 56,794,773 ordinary shares issued and outstanding as of December 31, 2022 and 2021, respectively. ● IPO On April 4, 2019, the Company consummated its initial public offering (“IPO”) of 2,012,500 Ordinary Shares at a price of $5.00 per shares including the exercise in full of the underwriters’ over-allotment option of 262,500 ordinary shares at IPO price of $5.00 per share. The gross proceeds from the IPO were $10,062,500 and the net proceeds was $8,021,987. As a result of the IPO, the Ordinary Shares now trade on the Nasdaq Capital Market under the symbol “PBTS.” ● Public Offering Warrants In connection with the IPO on April 4, 2019, the Company issued warrants totaling 122,500 units to the placement agents (the “Public Offering Warrants”). The warrants carry a term of five years and shall be exercisable at $5.50 per share. Management determined that these warrants are equity instruments because the warrants are both a) indexed to its own stock; and b) classified in shareholders’ equity. The warrants were recorded at their fair value on the date of grant as a component of shareholders’ equity. No warrants were exercised for the year ended December 31, 2020 and 2019. As of December 31, 2022 and 2021, the total number of warrants outstanding was 122,500 with weighted average remaining life of 1.24 years and 2.25 years, respectively. No warrants were exercised as of December 31, 2022 and 2021. The fair value of this Public Offering Warrants was $356,200, which was considered a direct cost of IPO and included in additional paid-in capital. The fair value has been estimated using the Black-Scholes pricing model with the following weighted-average assumptions: market value of underlying share of $5.00, risk free rate of 2.2%; expected term of 5 years; exercise price of the warrants of $5.5, volatility of 71.9%; and expected future dividends of nil. ● Ordinary shares issued for consulting services On September 30, 2019, the Company entered into a marketing development service agreement with an external consultant for service term of three years and agreed to 50,000 restricted shares as compensation. On November 28, 2019, the Company entered into a marketing development service agreement with another external consultants for service term of three years and agreed to 57,540 restricted shares as compensation. The aggregated fair value of those restricted shares was assessed at $335,469 based on the stock price of contract dates. For the year ended December 31, 2019, the Company recorded a consulting fee expense of $18,430 included in the share-based compensation expense. As of December 31, 2019, there were unrecognized share-based compensation expense related to the restricted shares issued for consulting services amounted to $317,039. As of December 31, 2019, the Company issued 50,000 restricted shares and issued the remaining 57,450 restricted shares in January 2020. For the year ended December 31, 2019, the aggregated of 107,540 restricted shares was included in the calculation of basic earning per shares in accordance with ASC 260-10-45-13. On March 15, 2020, the Company signed a consulting agreement with an independent marketing professional with term of one year. Pursuant to the agreement, the Company agreed to pay total of 150,000 ordinary shares as compensation for the services after signing of the agreement. The Company issued 150,000 restricted ordinary shares on April 14, 2020. The fair value of those shares was assessed at approximately $332,100 based on the stock price of contract date. On July 30, 2020, the Company issued 24,254 ordinary shares as compensation to an advisory firm for the related investor relations advisory service during the period ended from January 2020 to July 2020. The fair value of those shares was assessed at approximately $65,001 based on the stock price of contract date. On September 26, 2020, the Company signed a consulting agreement with a third-party consultant. Pursuant to the agreement, the Company agreed to pay a total of 100,000 ordinary shares as compensation for new business segment strategic positioning and planning services. The Company has issued the above 100,000 shares as of December 31, 2021. On August 17, 2020, the Company signed a consulting agreement with a third-party consultant. Pursuant to the agreement, the Company agreed to pay a total of 10,000 ordinary shares as compensation for services. The Company has issued the above 10,000 shares as of December 31, 2022. On October 19, 2021, the Company issued 21,182 ordinary shares as compensation to an advisory firm for the related investor relations advisory service. On May 18, 2022, the Company issued 37,255 ordinary shares as compensation to an advisory firm for the related investor relations advisory service. For the year ended December 31, 2022, 2021 and 2020, the Company recorded a consulting fee expense of $649,122, $461,680 and $487,347 included in the share-based compensation expense. As of December 31, 2022 and 2021, there were unrecognized share-based compensation expense related to the restricted shares issued for consulting services amounted to $52,249 and $689,807. ● Restricted share units (“RSUs”) issued for consulting services On June 16, 2022, the board of directors proposed to modify the Company’s Amended 2018 Stock Option Plan), by supplementing various clauses in relation to the grant of Restricted Shares and Restricted Share Units to the employees, Directors and consultants of the Company. On July 15, 2022 the Company signed six consulting agreements with six third-party consultants with term of three years. Pursuant to the agreements, the Company agreed to pay total of 12,000,000 RSUs (representing 1 ordinary shares of the Company, with par value US$0.00166667 per share) as compensation for the services after signing of the agreements. The Company issued 12,000,000 RSUs on July 22, 2022. The fair value of those shares was assessed at $13,080,000 based on the stock price of contract date. For the year ended December 31, 2022, the Company recorded a consulting fee expense of $1,998,333 included in the share-based compensation expense. As of December 31, 2022, there were unrecognized share-based compensation expense related to RSUs issued for consulting services amounted to $11,081,667. 2018 Stock option plan On August 18, 2018 and further amended on February 10, 2019, the Board of Directors (“Board”) approved an amended the 2018 Stock Option Plan (the “2018 Plan”). The Plan provides for discretionary grants of stock options to key employees, directors and consultants of the Company. The purpose of the Plan is to attract and retain the best available personnel and to promote the success of the Company’s business. The Board authorized that the maximum aggregate number of ordinary shares reserved and available pursuant to this Plan shall be the aggregate of (i) 1,035,787 shares, and (ii) on each January 1, starting with January 1, 2019, an additional number of shares equal to the lesser of (A) 2% of the outstanding number of ordinary shares (on a fully-diluted basis) on the immediately preceding December 31, and (B) such lower number of ordinary shares as may be determined by the Committee. The Plan shall become effective on the effective date of the Company’s contemplated initial public offering is completed, which was on April 4, 2019. The grants under the Plan generally have a maximum contractual term of ten years from the date of grant. Stock option awards granted under the plan at the determination of the Board shall be effective and exercisable after the Company’ completion of IPO of its securities. The terms of individual agreements for various grants under the Plan will be determined by the Board (or its Compensation Committee) and might contain both service and performance conditions. The Company believes the options contain an explicit service condition and a performance condition. On July 2, 2020, the Board approved to amend the 2018 Plan to adjust that the maximum aggregate number of ordinary shares reserved and available pursuant to the 2018 Plan shall not at any time exceed 20% of the total number of outstanding Ordinary Shares at the time of issuance, from time to time. Such amendment was approved during shareholders’ annual meeting on July 27, 2020. On April 4, 2019, the Board approved to issue 1,050,500 stock options to its employees under 2018 stock option plan with exercise price of $5.0 per share. These options generally have vesting periods of 1-3 years and will expire no later than April 3, 2024. On January 29, 2022, the Board cancelled this plan. On April 4, 2019, the Board approved to issue 300,000 stock options to an external consultant under 2018 stock option plan with exercise price of $3.75 per share. These options were fully vested upon grant and will expire no later than April 3, 2029. On February 18, 2021, the consultant excised 58,110 shares options on a cashless basis. On February 6, 2021, the Company issued 23,954 ordinary shares to the consultant. On May 26, 2021, the Board approved to issue 7,604,964 stock options to its employees under 2018 stock option plan with exercise price of $1.22 per share. 4,014,964 of these stock options were fully vested upon grant; 3 The fair value of stock options was determined at the date of grant using the Black-Scholes option pricing model. The Black-Scholes option model requires management to make various estimates and assumptions, including expected term, expected volatility, risk-free rate, and dividend yield. The expected term represents the period of time that stock-based compensation awards granted are expected to be outstanding and is estimated based on considerations including the vesting period, contractual term and anticipated employee exercise patterns. Expected volatility is based on the historical volatility of the Company’s stock. The risk-free rate is based on the U.S. Treasury yield curve in relation to the contractual life of stock-based compensation instruments. The dividend yield assumption is based on historical patterns and future expectations for the Company dividends. For the year ended December 31, 2022, assumptions used to estimate the fair value of stock options on the grant dates are as follows: Options Options Options Amended in May, 2022 Options Amended in December, 2022 Risk-free interest rate 0.81 % 1.66 % 0.81 % 4.44 % Expected life of the options 5 years 4.33 years 4.03 years 3.43 years Expected volatility 96.0 % 96.0 % 96.0 % 96.0 % Expected dividend yield - % - % - % - % Fair value $ 7,232,526 $ 2,106,163 $ 1,652,811 $ 689,971 2018 Stock option plan A summary of activities of the stock options for the years ended December 31, 2022, 2021 and 2020 is presented as follows: Number of Weighted Weighted Aggregate US$ Year US$ Outstanding as of December 31, 2019 1,350,500 4.72 5.37 - Granted - - - - Expired, forfeited or cancelled - - - - Outstanding as of December 31, 2020 1,350,500 4.72 4.37 - Granted 7,604,964 1.22 - Exercised (58,110 ) Outstanding as of December 31, 2021 8,897,354 1.74 4.23 - Granted - - - - Cancelled (1,050,500 ) 4.72 - - Outstanding as of December 31, 2022 7,846,854 1.30 3.49 Exercisable as of December 31, 2022 7,846,854 1.30 3.49 - For the year ended December 31, 2022, 2021 and 2020, total share-based compensation expenses recognized for the share options granted were $3,336,452, $5,873,566 and $986,629, respectively. As of December 31, 2022 and 2021, there were $ nil Private placement On August 24, 2020, Company closed certain non-broker securities purchase agreements (the “SPAs”) with certain “non-U.S. Persons” (the “Purchasers”) as defined in Regulation S of the Securities Act of 1933, as amended (the “Securities Act”) pursuant to which the Company agreed to sell an aggregate of 8,800,000 ordinary shares, $0.00166667 par value per share of the Company (“Share”), at a per share purchase price of $2.00 (the “Offering”). The net proceeds to the Company from such Offering were $17.6 million. On September 1, 2022, the Company entered into a securities purchase agreement with White Lion Capital LLC (“White Lion”). Pursuant to the agreement, White Lion shall purchase up to $15 million of the Company’s ordinary shares at the lowest daily VWAP of the Ordinary Shares during the Valuation Period by 97%. As of December 31, 2022, the Company issued 22,875,000 ordinary shares and net proceeds was $3,519,202. In 2023, the Company issued 5,000,000 ordinary shares and net proceeds was $491,180. On September 9, 2022, the Company entered into a securities purchase agreement with YA II PN, LTD.. Pursuant to the agreement, YA II PN, LTD. shall purchase up to $30 million of the Company’s ordinary shares at the market price by 96%, and the company shall issue to YA II PN, LTD. 223,880 ordinary shares as a commitment fee. As of December 31, 2022, the Company issued 17,035,074 ordinary shares and net proceeds was $3,511,317. The Company subsequently issued 223,880 ordinary shares for commitment fee on January 1, 2023. In 2023, the Company issued 26,235,245 ordinary shares and net proceeds was $2,758,873. On December 29, 2022, the Company entered into a securities purchase agreement with TBS Capital LP, (“TBS”). Pursuant to the agreement, TBS shall purchase up to $15 million of the Company’s ordinary shares at the market price by 96%, and the company shall issue to Yorkville 223,880 ordinary shares as a commitment fee. The Company issued 223,880 ordinary shares for commitment fee on December 15, 2022. In 2023, the Company issued 6,250,000 ordinary shares and net proceeds was $530,000. Conversion of convertible notes On November 16, 2020, the Company issued an aggregate of 27,777,776 restricted ordinary shares, par value $0.00166667 per share, of the Company, to the conversion note holders. The fair value of the conversion note was assessed at $65,258,333 upon conversion based on the binomial model assessed by the independent valuation firm. On August 13, 2021, The Company issued an aggregate of 3,054,591 ordinary shares, par value $0.00166667 per share, of the Company, to YA. The fair value of the conversion note was assessed at $4,445,433 upon conversion based on the binomial model assessed by the independent valuation firm. On September 8 2021, Uptown delivered conversion notice for all convertible notes in an aggregate of principle of $1,650,000. The Company issued an aggregate of 1,676,437 ordinary shares, par value $0.00166667 per share, of the Company, to Uptown. The fair value of the conversion note was assessed at $1,897,739 upon conversion based on the binomial model assessed by the independent valuation firm. On May 25, 2022, The Company issued an aggregate of 5,929,838 ordinary shares, par value $0.00166667 per share, of the Company, to YA (Note 11). The fair value of the conversion note was assessed at $2,261,270 upon conversion based on the binomial model assessed by the independent valuation firm. On December 12, 2022, The Company issued an aggregate of 13,981,758 ordinary shares, par value $0.00166667 per share, of the Company, to Streeterville (Note 11). The fair value of the conversion note was assessed at $1,534,654 upon conversion based on the binomial model assessed by the independent valuation firm. Shares issued for reserve On August 5, 2021, the Company issued 4,014,964 ordinary shares held in an escrow account as reserve solely for potential stock options. On September 20, 2022, the Company issued 2,416,650 ordinary shares held in an escrow account as reserve solely for potential stock options. As of December 31, 2022, no shares were transferred to the holders. At the market(“ATM”) offering On February 23, 2021, the Company entered into a Sales Agreement (the “Sales Agreement”) with A.G.P./Alliance Global Partners, as sales agent (the “Agent”), pursuant to which the Company may offer and sell, from time to time, through or to the Agent, as sales agent and/or principal (the “Offering”) up to $30,000,000 of its ordinary shares, par value $0.00166667 per share (the “Shares”). Any Shares offered and sold in the Offering will be issued pursuant to the Company’s Registration Statement on Form F-3 (the “Registration Statement”) filed with the Securities and Exchange Commission (the “SEC”) on February 23, 2021, and the sales agreement prospectus that forms a part of such Registration Statement, following such time as the Registration Statement is declared effective by the SEC, for an aggregate offering price of up to $200 million. For the year ended December 31, 2021, the Company sold 1,626,327 ordinary shares, par value $0.00166667 per share, through the ATM offering with net proceeds of $5,128,477. For the year ended December 31, 2022, the Company sold 56,800 ordinary shares, par value $0.00166667 per share, through the ATM offering with net proceeds of $56,449, the amount was received on January 28, 2023. Shares issued for long-term investments In connection of the long-term investment of Smartconn, on January 20, 2022, the Company issued 17,138,305 ordinary shares to the original shareholders of Smartconn as consideration of 19.99% equity interest. The fair value of the shares issued amounted to $8,305,222. In connection of the long-term investment of Boxinrui on June 28, 2022, the Company issued 19,942,553 ordinary shares to the original shareholders of Boxinrui as consideration of 15% equity interest. The fair value of the shares issued amounted to $6,674,772. On December 28, 2022, the Company further issued 55,300,530 ordinary shares to the original shareholders of Boxinrui as consideration of 20% equity interest. The fair value of the shares issued amounted to $4,446,163. In connection of the long-term investment of Chenbao, on August 24, 2022, the Company issued 5,756,481 ordinary shares to the original shareholders of Chenbao as partial consideration of 5% equity interest. The fair value of the shares issued amounted to $1,844,377. In connection of the long-term investment of DTI, on November 1, 2022, the Company issued 55,506,750 ordinary shares to the original shareholders of DTI as consideration of 19% equity interest. The fair value of the shares issued amounted to $9,058,701. Additional paid-in capital As of December 31, 2022 and 2021, additional paid-in capital in the consolidated balance sheet represented the combined contributed capital of the Company’s subsidiaries. Statutory reserve Under PRC law, the Company’s subsidiary located in the PRC (collectively referred as the (“PRC entities”) are required to provide for certain statutory reserves. The PRC entities are required to allocate at least 10% of their after-tax profits on an individual company basis as determined under PRC accounting standards to the statutory reserve and has the right to discontinue allocations to the statutory reserve if such reserve has reached 50% of registered capital on an individual company basis. The Company’s subsidiaries in PRC had accumulated deficits for the years ended December 31, 2022 and 2021, as a result, the statutory reserve balances were $ nil

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 14 — Commitments and contingencies Contingencies In the ordinary course of the business, the Company subject to periodic legal or administrative proceedings. The Company accrues liability when the loss is probable and reasonably estimable. On April 28, 2022, Shengfeng Zeng (a former employee) filed a lawsuit against the Company for a debt dispute of $71,282 (RMB491,647). On January 10, 2023, the Court ordered the Company to pay Shengfeng Zeng $71,282 (RMB491,647). The Company filed an appeal on March 6, 2023. The Company recorded the disputed amount $69,159 (RMB477,001) in the accrued liabilities based on the best estimate of the management as of December 31, 2022.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment reporting	Note 15 — Segment reporting For the years ended December 31, 2022 and 2021, the Company’s CODM reviewed the financial information of the business carried out by the Company on a consolidated basis. Therefore, the Company has one operating segment, which is the provision of global trade software application and technology services. The Company operates solely in the PRC and all of the Company’s long-lived assets are located in the PRC. The following table presents revenues by the service lines: For the Years Ended December 31, 2022 2021 2020 REVENUES: Application development services* $ 3,847,199 $ 20,323,422 $ 21,985,214 Consulting and technical support services 2,538,500 4,555,352 3,797,354 Subscription services 758,526 936,913 881,443 Trading revenue 3,338,584 6,277,141 - Total revenues $ 10,482,809 $ 32,092,828 $ 26,664,011 * For the years ended December 31, 2022, 2021 and 2020, certain application development service arrangements included sales of IT equipment. Such revenue of $2,609,531, $14,472,010 and $6,299,982 was included in the application development service revenue for years ended December 31,2022, 2021 and 2020, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent events	Note 16 — Subsequent events Long-term investments On January 5, 2023, the Company entered into an equity transfer agreement with a shareholder of Smartconn which the Company agrees to purchase 31% equity of Smartconn at 90% of the appraisal price. The consideration of the Acquisition will be paid in the form of 114,899,222 newly issued shares of the Company. The acquisition closed on January 18, 2023. Prior to the Acquisition, the Company held 19.99% in Smartconn, which together with the newly acquired shares, the Company holds in total 50.99% in Smartconn. On March 21, 2023, the Company entered into an equity transfer agreement with a shareholder of DTI which the Company agrees to purchase 32% equity of DTI for a consideration of approximately RMB96.7 million. The consideration of will be paid in the form of 167,592,318 newly issued shares of the Company. The acquisition closed on March 24, 2023 Prior to the Acquisition, the Company held 19% in DTI, which together with the newly acquired shares, the Company holds in total 51% in DTI. On March 28, 2023, the Company entered into an equity transfer agreement with fifteen individual shareholders (the “Relevant Shareholders”) of BOXINRUI INTERNATIONAL HOLDINGS LIMITED (“Boxinrui”), pursuant to which the Company agreed to further acquire 65% equity interest in Boxinrui for a consideration of approximately US$25.8 million, which shall be satisfied by way of allotment and issue of an aggregate of 276,448,625 shares to the Relevant Shareholders (the “Third Acquisition”). The Company will hold an aggregate of 100% equity interest of the Boxinrui following the closing of the acquisition. Bank loans On January 16, 2023, Powerbridge Zhuhai entered into a loan agreement with Bank of Communication to obtain a loan of $520,174 for a term of one year and at a fixed annual interest rate of 4.20%. The bank loan was guaranteed by the Company’s CEO, CEO’s spouse and a third party. On January 19, 2023, Powerbridge Zhuhai entered into a loan agreement with Bank of Communication to obtain a loan of $1,449,864 for a term of one year and at a fixed annual interest rate of 4.20%. The bank loan was guaranteed by the representative of Zhuhai Powerbridge and pledged approximately $2.4 million fixed assets as the collateral to secure the loan. On March 14, 2023, Powerbridge Zhuhai entered into a loan agreement with Bank of Communication to obtain a loan of $ 204,758 for a term of one year and at a fixed annual interest rate of 4.20%. The bank loan was guaranteed by the Company’s CEO, CEO’s spouse and a third party. Convertible notes From January 2023 to March 2023, Streeterville delivered conversion notice for convertible notes in principle of $2,427,582. The Company issued an aggregate of 26,849,931 ordinary shares, par value $0.00166667 per share, of the Company, to Streeterville. Equity financing The Company issued 5,000,000 ordinary shares and received approximately $0.5 million from White Lion (Note 13) in 2023. The Company issued 26,235,245 ordinary shares and received approximately $2.8 million from YA II PN, LTD. (Note 13) in 2023. The Company issued 6,250,000 ordinary shares and received approximately $0.5 million from TBS (Note 13) in 2023. New subsidiary To explore metaverse business, the Company established one new subsidiary in China. Hunan Powerverse Digital Co., Ltd. was established on March 9, 2023 and the Company has 51% equity interest.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2022
Nature of Business and Organization [Abstract]
Basis of presentation	Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”).
Principles of consolidation	Principles of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries. All intercompany transactions and balances are eliminated upon consolidation. All significant intercompany transactions and balances between the Company and its subsidiaries are eliminated upon consolidation. Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. Non-controlling interest represents the portion of the net assets of a subsidiary attributable to interests that are not owned by the Company. The non-controlling interest is presented in the consolidated balance sheets, separately from equity attributable to the shareholders of the Company. Non-controlling interest’s operating result is presented on the face of the consolidated statements of income and comprehensive income as an allocation of the total income for the year between non-controlling shareholders and the shareholders of the Company.
Liquidity	Liquidity For the year ended December 31, 2022, the Company had working capital of approximately $59.5 million and incurred a net loss of approximately $21.5 million. For fiscal 2022, the Company had negative operation cash flow of approximately $9.7 million. The Company has historically funded its working capital needs primarily from public offering, operations, bank loans, advance payments from customers and shareholders. The working capital requirements are affected by the efficiency of operations, the numerical volume and dollar value of revenue contracts, the progress or execution on customer contracts, and the timing of accounts receivable collections. In assessing its liquidity, the Company monitors and analyzes its cash on hand, its ability to generate sufficient revenue sources in the future and its operating and capital expenditure commitments. As of December 31, 2022, the Company had cash of approximately $9.4 million. On September 1, 2022, the Company entered into a securities purchase agreement with White Lion Capital LLC (“White Lion”). Pursuant to the agreement, White Lion shall purchase up to $15 million of the Company’s ordinary shares at the lowest daily VWAP of the Ordinary Shares during the Valuation Period by 97%. As of December 31, 2022, the Company issued 22,875,000 ordinary shares and net proceeds was $3,519,202. In 2023, the Company issued 5,000,000 ordinary shares and net proceeds was $491,180. On September 9, 2022, the Company entered into a securities purchase agreement with YA II PN, LTD.. Pursuant to the agreement, YA II PN, LTD. shall purchase up to $30 million of the Company’s ordinary shares at the market price by 96%, and the company shall issue to YA II PN, LTD. 223,880 ordinary shares as a commitment fee. As of December 31, 2022, the Company issued 17,035,074 ordinary shares and net proceeds was $3,511,317. The Company issued 223,880 ordinary shares for commitment fee on January 1, 2023. In 2023, the Company issued 26,235,245 ordinary shares and net proceeds was $2,758,873. On November 29, 2022, the Company entered into a securities purchase agreement with TBS Capital LP, (“TBS”). Pursuant to the agreement, TBS shall purchase up to $15 million of the Company’s ordinary shares at the market price by 96%, and the company shall issue to Yorkville 223,880 ordinary shares as a commitment fee. The Company issued 223,880 ordinary shares for commitment fee on December 15, 2022. In 2023, the Company issued 6,250,000 ordinary shares and net proceeds was $530,000. The Company believes that its cash on hand and financing cash flows will be sufficient to fund its operations over at least the next 12 months from the date of this report. However, the Company may need additional cash resources in the future if the Company experiences changed business conditions or other developments, and may also need additional cash resources in the future if the Company wishes to pursue opportunities for investment, acquisition, strategic cooperation or other similar actions. If it is determined that the cash requirements exceed the Company’s amounts of cash on hand, the Company may seek to issue debt or equity securities or obtain a credit facility.
Use of estimates	Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s consolidated financial statements include but not limited to the useful lives of property and equipment and capitalized development cost, impairment of long-lived assets, valuation of accounts receivables, valuation of convertible loans, loans to third parties, revenue recognition and realization of deferred tax assets and uncertain tax positions. Actual results could differ from these estimates.
Foreign currency translation	Foreign currency translation The functional currencies of the Company are the local currency of the county in which the subsidiaries operate. The Company’s financial statements are reported using U.S. Dollars. The results of operations and the consolidated statements of cash flows denominated in foreign currencies are translated at the average rates of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currencies is translated at the historical rates of exchange at the time of capital contributions. Because cash flows are translated based on the average translation rates, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income (loss) included in consolidated statements of changes in equity. Gains and losses from foreign currency transactions are included in the consolidated statement of operations and comprehensive income (loss).
Fair value measurement	Fair value measurement ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market data. ● Level 3 — inputs to the valuation methodology are unobservable. Unless otherwise disclosed, the fair value of the Company’s financial instruments including cash, notes and accounts receivable, due from related parties, prepayments, deposits and other current assets, notes and accounts payable, customer deposits, salaries and benefits payables, due to related party and taxes payable approximates their recorded values due to their short-term maturities. The fair value of the long-term prepayments, deposits and other assets and loans to third parties approximate their carrying amounts because the deposits were paid in cash. The Company elected the fair value option to account for its convertible loan. The Company engaged an independent valuation firm to perform the valuation. The fair value of the convertible loans is calculated using the binomial tree model. The convertible loans are classified as level 3 instruments as the valuation was determined based on unobservable inputs which are supported by little or no market activity and reflect the Company’s own assumptions in measuring fair value. Significant estimates used in developing the fair value of the convertible loans include time to maturity, risk-free interest rate, straight debt discount rate, probability to convert and expected timing of conversion. Refer to Note 11 for additional information. As the inputs used in developing the fair value for level 3 instruments are unobservable, and require significant management estimate, a change in these inputs could result in a significant change in the fair value measurement. The following is a reconciliation of the beginning and ending balances for convertible notes measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of December 31, 2022 and 2021: December 31, December 31, 2022 2021 Opening balance $ 2,251,832 $ - Issuance of convertible note 7,979,983 6,860,000 Loss on change in fair value of convertible notes 2,448,936 1,508,229 Accrued interest 195,139 226,775 Conversion of convertible notes (3,795,924 ) (6,343,172 ) Total $ 9,079,966 $ 2,251,832
Cash and cash equivalent	Cash and cash equivalent Cash and cash equivalent comprise cash at banks and on hand, which includes deposits with original maturities of three months or less with commercial banks in PRC. As of December 31, 2022 and 2021, cash balances were $9,380,322 and $6,960,996, respectively.
Restricted cash	Restricted cash Restricted cash mainly represents security deposits as required by certain customers on the Company’s projects. The deposits in restricted bank accounts cannot be withdrawn until the Company completes the related projects. Restricted cash is classified as either current or non-current based on when the funds will be released in accordance with the terms of the respective agreements. As of December 31, 2022 and 2021, restricted cash consists of cash equivalents of $ nil
Accounts receivable, net	Accounts receivable, net Accounts receivable, net, is stated at the original invoiced amount net of write-offs and allowance for doubtful accounts. The Company reviews the accounts receivable on a periodic basis and makes allowances when there is doubt as to the collectability of individual balances. Past-due balances over 90 days are reviewed individually for collectability. In evaluating the collectability of individual accounts receivable balances, the Company considers several factors, including the age of the balance, the customer’s payment history, current credit-worthiness, and current economic trends. Accounts receivable balances are written off after all collection efforts have been exhausted. Typically, the Company includes unbilled receivables in accounts receivable for contracts on which revenue has been recognized, but for which the customer has not yet been billed. Unbilled receivables, substantially all of which are expected to be billed within one year are stated at their estimated realizable value and consist of costs and fees billable on contract completion or the occurrence of contractual payment phase.
Prepayments, deposits and other assets, net	Prepayments, deposits and other assets, net Prepayment, deposit and other assets, net, primarily consists of advances to suppliers for purchasing goods or services that have not been received or provided; security deposits made to our customers; advances to employees and loan receivables from business partners. Prepayment, deposit and other assets are classified as either current or non-current based on the terms of the respective agreements. These advances are unsecured and are reviewed periodically to determine whether their carrying value has become impaired.
Property and equipment, net	Property and equipment, net Property and equipment, net, mainly comprise furniture and furniture, vehicles, compute, equipment and buildings are stated at cost less accumulated depreciation and impairment. Property and equipment are depreciated over the estimated useful lives of the assets on a straight-line basis, after considering the estimated residual value. The estimated useful lives are as follows: Useful Life Office equipment, fixtures and furniture 3-10 years Automobiles 5-8 years Capitalized development costs and software acquired 5-10 years Computer equipment 5 years Buildings 28 years Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments which substantially extend the useful life of assets are capitalized. The cost and the related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is charged to the statement of income and comprehensive income.
Capitalized development costs	Capitalized development costs The Company follows the provisions of Accounting Standards Codification (“ASC”) 985-20, “Costs of Software to be Sold, Leased, or Marketed.” ASC 985-20 provides guidance on capitalization of the costs of software developed or obtained for sold, leased, or marketed. The Company expenses all costs incurred during the preliminary project stage of its development, and capitalizes costs incurred during the application development stage. Costs incurred relating to upgrades and enhancements to the application are capitalized if it is determined that these upgrades or enhancements add additional functionality to the application. The capitalized development cost is amortized on a straight-line basis over the estimated useful life, which is generally five years. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.
Impairment for long-lived assets	Impairment for long-lived assets Long-lived assets, including property, equipment, furniture and fixtures and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. When these events occur, the Company measures impairment by comparing the carrying values of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amounts of the assets, the Company would recognize an impairment loss based on the excess of the carrying value over the assessed discounted cash flow amount. For the years ended December 31, 2022, 2021 and 2020 the Company recognized $ nil
Long-term investments	Long-term investments Long-term investments are primarily consisted of equity investments in privately held entities accounted for using the measurement alternative and equity investments accounted for using the equity method. On January 1, 2022, the Company adopted ASU 2016-01 Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. According to the guidance, the Company started to record equity investments at fair value, with gains and losses recorded through net earnings. And the Company elected to measure certain equity investments without readily determinable fair value at cost, less impairments, plus or minus observable price changes and assess for impairment quarterly. Equity investments without readily determinable fair values After the adoption of this new accounting standard, the Company elected to record equity investments without readily determinable fair values and not accounted for under the equity method at cost, less impairment, adjusted for subsequent observable price changes on a nonrecurring basis, and report changes in the carrying value of the equity investment in current earnings. Changes in the carrying value of the equity investment are required to be made whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer. Reasonable efforts shall be made to identify price changes that are known or that can reasonably be known. Equity investments with readily determinable fair values Equity investments with readily determinable fair values are measured and recorded at fair value using the market approach based on the quoted prices in active markets at the reporting date. Equity investments accounted for using the equity method The Company accounts for its equity investment over which it has significant influence but does not own a majority equity interest or otherwise control, using the equity method. The Company adjusts the carrying amount of the investment and recognizes investment income or loss for its share of the earnings or loss of the investee after the date of investment. The Company assesses its equity investment for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the entity, including current earnings trends and undiscounted cash flows, and other entity-specific information. The fair value determination, particularly for investments in a privately held entity, requires judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investment and determination of whether any identified impairment is other-than-temporary.
Revenue recognition	Revenue recognition The Company adopted ASC Topic 606 Revenue from Contracts with Customers (“ASC 606”) on January 1, 2019 using the modified retrospective approach. Revenues for the years ended December 31, 2022, 2021 and 2020 were presented under ASC 606. There is no adjustment to the opening balance of retained earnings at January 1, 2019 since there was no change to the timing and pattern of revenue recognition upon adoption of ASC 606. Under ASC 606, revenue is recognized when control of promised goods or services is transferred to the Company’s customers in an amount of consideration to which an entity expects to be entitled to in exchange for those goods or services and is recorded net of value-added tax (“VAT”). To achieve that core principle, the Group applies the following steps: Step 1: Identify the contract (s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation The Company derives its revenues from four sources: (1) revenue from application development services, (2) revenue from consulting and technical support services, (3) revenue from subscription services. All of the Company’s contracts with customer do not contain cancelable and refund-type provisions and (4) trading revenue. (1) Revenue from application development service The Company’s application development service contracts are primarily on a fixed-price basis, which require the Company to perform services including project planning, project design, application development and system integration based on customers’ specific needs. These services also require significant production and customization. Upon delivery of the services, customer acceptance is generally required. In the same contract, the Company is generally required to provide post-contract customer support (“PCS’) for a period from three months to three years (“PCS period”) after the customized application development services are delivered. The type of services for PCS clause is generally not specified in the contracts or as stand-ready services on when-and-if-available basis. The unspecified PCS is stand-ready service on when-and-if-available basis. It grants the customers on line and telephone access to technical support personnel during the term of the service. Specified PCS includes specified service term in the contract such as training. The Company’s application development service revenues are generated primarily from contracts with PRC government or related agencies and state-owned enterprises. The contracts contain negotiated billing terms which generally include multiple payment phases throughout the contract term and a significant portion (30% - 50%) of contract amount usually is billed upon the completion of the related projects. Pursuant to the contract terms, the Company has enforceable right on payments for the work performed. The Company sometimes provides a warranty for its application development service contracts. The warranty period is typically 12-36 months upon the completion of the application development service. In accordance with ASC 606-10-25-19, the Company believes the warranty provision in the contracts generally represents service-type warranty, which is a distinct performance obligation and the Company also provides the similar service on standalone basis and customers can benefit from the related service-type warranty service. For the service warranty component, the customer simultaneously receives and consumes the benefits provided by the company performance over the warranty term, therefore, the service warranty is satisfied over time. The revenue allocated to the service warranty is recognized over the warranty period. The Company assesses that application development service, PCS or specific service and service-type warranty service, if applicable, are distinct performance obligations in the application development service contracts. The Company provides these services on standalone basis and customers are able to benefit from each of the service on its own. In addition, the timing of delivery of these performance obligations can be separately identifiable in the contracts. The transaction price is allocated to these identified performance obligations based on the relative standalone selling prices. The transaction price allocated to PCS or unspecific service and service-type warranty, if applicable, on a straight-line method over the contractual period. Revenue allocated to specified PCS is recognized as the related services are rendered. The transaction price allocated to application development service is recognized over time as the Company’s performance creates or enhances the project controlled by the customer and the control is transferred continuously to our customers. The Company uses an input method based on cost incurred as the Company believes that this method most accurately reflects the Company’s progress toward satisfaction of the performance obligation, which usually takes less than one year. Under this method, the transaction price allocated to application development service is recognized as work is performed based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligations. Incurred costs include all direct material, labor and subcontract costs, and those indirect costs related to application development performance, such as indirect labor, supplies, and tools. Cost-based input method requires the Company to make estimates of revenues and costs to complete the construction. In making such estimates, significant judgment is required to evaluate assumptions related to the costs to complete the application development, including materials, labor, and other system costs. The Company’s estimates are based upon the professional knowledge and experience of our engineers and project managers to assess the contract’s schedule, performance, technical matters. The Company has adequate cost history and estimating experience, and with respect to which management believes it can reasonably estimate total development costs. If the estimated costs are greater than the related revenues, the Company recognizes the entire estimated loss in the period the loss becomes known and can be reasonably estimated. Changes in estimates for application development services include but not limited to cost forecast changes and change orders. The cumulative effect of changes in estimates is recorded in the period in which the revisions to estimates are identified and the amounts can be reasonably estimated. To date, the Company has not incurred a material loss on any contracts. However, as a policy, provisions for estimated losses on such engagements will be made during the period in which a loss becomes probable and can be reasonably estimated. If contract modifications result in additional goods or services that are distinct from those transferred before the modification, they are accounted for prospectively as if the Company entered into a new contract. If the goods or services in the modification are not distinct from those in the original contract, sales and gross profit are adjusted using the cumulative catch-up method for revisions in estimated total contract costs and contract values. In certain application development service arrangements, the Company sells and delivers IT equipment on standalone basis prior to the delivery of the services. In these cases, the Company controls the IT equipment before they are transferred to the customer. The Company has the right to direct the suppliers and control the goods or assets transferred to its customers. Thus, the Company considers it should recognize revenue as a principal in the gross amount of consideration to which it is entitled in exchange for the IT equipment delivered. The Company assesses the sale of equipment is separately identifiable from other promises in the contract and it is distinct performance obligation within the context of the contract. Accordingly, the revenue from the related IT equipment based on its relative standalone selling price is recognized upon customer acceptance after delivery. (2) Revenue from consulting and technical support services Revenue from consulting and technical support services is primarily comprised of fixed-fee contracts, which require the Company to provide professional consulting and technical support services over contract terms beginning on the commencement date of each contract, which is the date its service is made available to customers. Billings to the customers are generally on a monthly or quarterly basis over the contract term, which is typically 12 to 24 months. The consulting and technical support services contracts typically include a single performance obligation. The revenue from consulting and technical support services is recognized over the contract term on a straight-line basis as customers receive and consume benefits of such services. (3) Revenue from subscription services Revenue from subscription services is comprised of subscription fees from customers accessing the Company’s software-as-a-service applications for a subscribed period. The Company’s monthly or quarterly billing to customer is on the basis of number of uses or the actual usage by the customers. The subscription arrangements are considered service contracts because customers do not have the right to take possession of the software and can only benefit from the software when provided the right to access the software. Accordingly, the subscription services contracts typically include a single performance obligation. The revenue from subscription services is recognized over the contract term on a straight-line basis or based on the actual usage as customers receive and consume benefits of such services. (4) Trading revenue The Company started trading business (sales of consumables) for the year ended December 31, 2021 and recognized revenue at a point in time when control of such products transfers to the customer, which generally occurs upon shipment or delivery depending on the terms of the contracts with the customer. Product sale contracts typically include a single performance obligation and there are no rights of return. The transaction price is based on the fixed contractual price with the customer. Billings to the customer for the sale of products occur at the time the products are transferred to the customer. Revenue from trading business accounted for 31.8% of the Company’s revenue for the year ended December 31, 2022. Revenue includes reimbursements of travel and out-of-pocket expense, with equivalent amounts of expense recorded in cost of revenue. The Company reports revenues net of value added tax (“VAT”). The Company’s subsidiaries in PRC are subject to a 6% to 13% value added tax (“VAT”) and related surcharges on the revenues earned from providing services or products. Practical Expedient and Exemptions The Company does not disclose the value of unsatisfied performance obligations within one year by applying the right to invoice practical expedient provided by ASC 606-10-55-18.
Contract costs	Contract costs Contract costs include contract acquisition costs and contract fulfillment costs which are all recorded within prepayments, deposits, and other assets in the consolidated balance sheets. Contract acquisition costs consist of incremental costs incurred by the Company to originate contracts with customers. Contract acquisition costs, which generally include costs that are only incurred as a result of obtaining a contract, are capitalized when the incremental costs are expected to be recovered over the contract period. All other costs incurred regardless of obtaining a contract are expensed as incurred. Contract acquisition costs are amortized over the period the costs are expected to contribute directly or indirectly to future cash flows, which is generally over the contract term, on a basis consistent with the transfer of goods or services to the customer to which the costs relate. Contract fulfillments costs consist of costs incurred by the Company to fulfill a contract with a customer and are capitalized when the costs generate or enhance resources that will be used in satisfying future performance obligations of the contract and the costs are expected to be recovered. Capitalized contract fulfillment costs generally include contracted services, direct labor, materials, and allocable overhead directly related to resources required to fulfill the contract. Contract fulfillment costs are recognized in cost of revenue during the period that the related costs are expected to contribute directly or indirectly to future cash flows, which is generally over the contract term, on a basis consistent with the transfer of goods or services to the customer to which the costs are related. There were no contract fulfillment cost and contract acquisition costs as of December 31, 2022 and 2021.
Contract balance	Contract balance The accounts receivable includes both unbilled accounts receivable and billed accounts receivable. The Company records unbilled accounts receivable for revenue that has been recognized in advance of billing the customer, which is common for application development service contracts. The unbilled accounts receivable represents the Company’s right to consideration in exchange for the service that the Company has performed to the customer before payment is due and the unbilled account receivable will be reclassified into billed accounts receivable when the Company has the right to invoice. Contract liabilities are presented as customer deposits and deferred revenue on the consolidated balance sheet. Contract liabilities relate to payments received in advance of completion of performance obligations under a contract. Contract liabilities are recognized as revenue upon the completion of performance obligations. As of December 31, 2022 and 2021, the balance of customer deposits amounted to $483,735 and $575,303, respectively. As of December 31, 2022 and 2021 the balance of deferred revenue amounted to $893,263 and $1,344,637, respectively.
Government subsidies	Government subsidies Government subsidies mainly represent amounts granted by local government authorities as an incentive for companies to promote development of the local technology industry. The Company receives government subsidies related to government sponsored projects, and records such government subsidies as a liability when it is received. The Company records government subsidies as other income when there is no further performance obligation.
Advertising expenditures	Advertising expenditures Advertising expenditures are expensed as incurred and such expenses were minimal for the periods presented. Advertising expenditures have been included as part of selling and marketing expenses. For the years ended December 31, 2022, 2021 and 2020, the advertising expense amounted to $25,373, $279,979 and 53,445, respectively.
Operating leases	Operating leases The Company adopted Topic 842 on January 1, 2022 using the modified retrospective transition approach. The Company has lease contracts for factory and office space under operating leases. The Company determines whether an arrangement constitutes a lease and records lease liabilities and right-of-use assets on its consolidated balance sheets at lease commencement. The Company measures its lease liabilities based on the present value of the total lease payments not yet paid discounted based on the more readily determinable of the rate implicit in the lease or its incremental borrowing rate, which is the estimated rate the Company would be required to pay for a collateralized borrowing equal to the total lease payments over the term of the lease. The Company estimates its incremental borrowing rate based on an analysis of weighted average interest rate of its own bank loans. The Company measures right-of-use assets based on the corresponding lease liability adjusted for payments made to the lessor at or before the commencement date, and initial direct costs it incurs under the lease. The Company begins recognizing lease expense when the lessor makes the underlying asset available to the Company. For leases with lease term less than one year (short-term leases), the Company records operating lease expense in its consolidated statements of operations on a straight-line basis over the lease term and record variable lease payments as incurred.
Income taxes	Income taxes The Company accounts for current income taxes in accordance with the laws of the relevant tax authorities. Deferred income taxes are recognized when temporary differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been incurred during the years ended December 31, 2022, 2021 and 2020. All of the tax returns of the Company’s subsidiary in China remain subject to examination by the tax authorities for five years from the date of filing.
Value added tax	Value added tax Revenue represents the invoiced value of service, net of VAT. The VAT is based on gross sales price and VAT rates range up to 13%, depending on the type of service provided. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded in taxes payable. All of the VAT returns filed by the Company’s subsidiary in China, have been and remain subject to examination by the tax authorities for five years from the date of filing.
Employee defined contribution plan	Employee defined contribution plan Full time employees of the Company in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the Company make contributions to the government for these benefits based on a certain percentage of the employee’s salaries. The Company has no legal obligation for the benefits beyond the contributions. The total amount was expensed as incurred.
Loss per share	Loss per share The Company computes (loss) earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common share outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of the potential Ordinary Shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential Ordinary Shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. For the years ended December 31, 2022, 2021 and 2020, since the company had a loss, basic and dilutive loss per share is the same.
Share-Based compensation	Share-Based compensation The Company accounts for share-based awards to employees and nonemployees directors and consultants in accordance with the provisions of ASC 718, Compensation—Stock Compensation, and under the recently issued guidance following FASB’s pronouncement, ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. Under ASC 718, and applicable updates adopted, for employee stock-based awards, share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense with graded vesting on a straight-line basis over the requisite service period for the entire award. For the non-employee stock-based awards, the fair value of the awards to non-employees are measured every reporting period based on the value of the Company’s common stock.
Comprehensive income (loss)	Comprehensive income (loss) Comprehensive income (loss) consists of two components, net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) refers to revenue, expenses, gains and losses that under U.S. GAAP are recorded as an element of shareholders’ equity but are excluded from net income. Other comprehensive income (loss) consists of a foreign currency translation adjustment resulting from the Company not using the U.S. dollar as its functional currencies.
Statement of Cash Flows	Statement of Cash Flows In accordance with ASC 230, “Statement of Cash Flows,” cash flows from the Company’s operations are formulated based upon the local currencies. As a result, amounts related to assets and liabilities reported on the statements of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheets.
Commitments and Contingencies	Commitments and Contingencies In the normal course of business, the Company is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters, such as government investigations and tax matters. The Company recognizes a liability for such contingency if it determines it is probable that a loss has occurred and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments including historical and the specific facts and circumstances of each matter.
Segment reporting	Segment reporting The Company’s chief operating decision maker (“CODM”) has been identified as its CEO, who reviews the consolidated results when making decisions about allocating resources and assessing performance of the Company as a whole and hence, the Company has only one reportable segment. The Company does not distinguish between markets or segments for the purpose of internal reporting. The Company’s long-lived assets are substantially all located in the PRC and all of the Company’s revenues are derived from the PRC. Therefore, no geographical segments are presented.
Concentrations of Risks	Concentrations of Risks (a) Concentration of credit risk Assets that potentially subject the Company to significant concentration of credit risk primarily consist of cash, restricted cash, accounts receivable and other current assets. The maximum exposure of such assets to credit risk is their carrying amounts as at the balance sheet dates. As of December 31, 2022 and 2021, the aggregate amount of cash and restricted cash of $5,418,450 and $6,971,124, respectively, were held at major financial institutions in PRC, which the management believes are of high credit quality. On May 1, 2015, China’s new Deposit Insurance Regulation came into effect, pursuant to which banking financial institutions, such as commercial banks, established in China are required to purchase deposit insurance for deposits in RMB and in foreign currency placed with them. Such Deposit Insurance Regulation would not be effective in providing complete protection for the Group’s accounts, as its aggregate deposits are much higher than the compensation limit. However, the Group believes that the risk of failure of any of these Chinese banks is remote. Bank failure is uncommon in China and the Group believes that those Chinese banks are financially sound based on public available information. The Company conducts credit evaluations of its customers and suppliers, and generally does not require collateral or other security from them. The Company establishes an accounting policy for allowance for doubtful accounts on the individual customer’s and supplier’s financial condition, credit history, and the current economic conditions. (b) Foreign currency risk A majority of the Company’s expense transactions are denominated in RMB and a significant portion of the Company and its subsidiaries’ assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB by the Company in China must be processed through the PBOC or other China foreign exchange regulatory bodies which require certain supporting documentation in order to affect the remittance. The Company’s functional currency is the RMB, and the Company’s financial statements are presented in U.S. dollars. The RMB appreciated by 2.3% in fiscal year 2021 and deprecation by 8.2% in fiscal year 2022. It is difficult to predict how market forces or PRC or U.S. government policy may impact the exchange rate between the RMB and the U.S. dollar in the future. The change in the value of the RMB relative to the U.S. dollar may affect our financial results reported in the U.S. dollar terms without giving effect to any underlying changes in our business or results of operations. Currently, our assets, liabilities, revenues and costs are denominated in RMB. To the extent that the Company needs to convert U.S. dollars into RMB for capital expenditures and working capital and other business purposes, appreciation of RMB against U.S. dollar would have an adverse effect on the RMB amount the Company would receive from the conversion. Conversely, if the Company decides to convert RMB into U.S. dollar for the purpose of making payments for dividends, strategic acquisition or investments or other business purposes, appreciation of U.S. dollar against RMB would have a negative effect on the U.S. dollar amount available to the Company. (c) Significant customers For the year ended December 31, 2022, one customer accounted for 31.8% of the Company’s total revenues. For the year ended December 31, 2021, one customer accounted for 12.8% of the Company’s total revenues. For the year ended December 31, 2020, one customer accounted for 25.7% of the Company’s total revenues. As of December 31, 2022 and 2021, no customer accounted for more than 10% of the Company’s accounts receivable. (d) Significant suppliers For the year ended December 31, 2022, three suppliers accounted for 38.1%, 14.8% and 12.1% of the Company’s total purchases, respectively. For the year ended December 31, 2021, one supplier accounted for 15.8% of the Company’s total purchases. For the year ended December 31, 2020, one supplier accounted for 21.3% of the Company’s total purchases. As of December 31, 2022, one supplier accounted for 10.9% of the Company’s total accounts payable. As of December 31, 2021, no supplier accounted for more than 10.0% of the Company’s total accounts payable.
Recently issued accounting pronouncements	Recently issued accounting pronouncements The Company considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued. Under the Jumpstart Our Business Startups Act of 2012, as amended (“the JOBS Act”), the Company meets the definition of an emerging growth company, or EGC, and has elected the extended transition period for complying with new or revised accounting standards, which delays the adoption of these accounting standards until they would apply to private companies. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires lessees to recognize a right-of-use asset and lease liability on the balance sheet for all leases, including operating leases, with a term in excess of 12 months. The guidance also expands the quantitative and qualitative disclosure requirements. In July 2018, the FASB issued updates to the lease standard making transition requirements less burdensome. The update provides an option to apply the transition provisions of the new standard at its adoption date instead of at the earliest comparative period presented in the company’s financial statements. The new guidance requires the lessee to record operating leases on the balance sheet with a right-of-use asset and corresponding liability for future payment obligations. FASB further issued ASU 2018-11 “Target Improvement” and ASU 2018-20 “Narrow-scope Improvements for Lessors.” In June 2020, the FASB issued ASU No. 2020-05, “Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842) Effective Dates for Certain Entities” (“ASU 2020-05”) in response to the ongoing impacts to businesses in response to the coronavirus (COVID-19) pandemic. ASU 2020-05 provides a limited deferral of the effective dates for implementing previously issued ASU 842 to give some relief to businesses and the difficulties they are facing during the pandemic. ASU 2020-05 affects entities in the “all other” category and public Not-For-Profit entities that have not gone into effect yet regarding ASU 2016-02, Leases (Topic 842). Entities in the “all other” category may defer to fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. As an emerging growth company, the Company adopted ASU 2016-02, Leases (Topic 842) on January 1, 2022. In January 2020, the FASB issued ASU 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) (“ASU 2020-01”), which is intended to clarify the interaction of the accounting for equity securities under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. ASU 2020-01 is effective for the Company beginning January 1, 2021. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, “‘Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2023, and are applied prospectively to business combinations that occur after the effective date. The Company does not expect the adoption of ASU 2021-04 will have a material effect on the consolidated financial statements. In November 2021, the FASB issued Accounting Standards Update No 2021-10, Government Assistance (Topic 832) — Disclosures by Business Entities about Government Assistance (“ASU 2021-10”). ASU 2021-10 requires additional disclosures regarding the nature of government assistance, the related accounting policy used to account for assistance, the affected line items and applicable amounts within the consolidated financial position and results of operations, and significant terms and conditions related to the assistance. Government assistance within the scope of ASC 832 includes assistance that is administered by domestic, foreign, local, state, national governments, as well as departments, independent agencies and intergovernmental organizations. The updated guidance increases transparency of government assistance including, 1) the type of assistance, 2) the entity’s accounting for assistance, and 3) the effect of assistance on the entity’s financial statements. The new standard is effective for fiscal years beginning after December 15, 2021. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have a material impact on the consolidated financial position, statements of operations and cash flows.

Nature of Business and Organi_2

Nature of Business and Organization (Tables)	12 Months Ended
	Dec. 31, 2022
Nature of Business and Organization [Abstract]
Schedule of details of company's principal subsidiaries	Major subsidiaries Percentage of Date of Place of Major Operation Powerbridge Holding Limited (“Powerbridge HK”, formerly known as “Powerbridge Technologies Co., Limited.”) (1) 100% by Powerbridge July 27, 2018 Hong Kong, PRC Investment holding Hongding Technology Co., Ltd (“Hongding”) 100% by Powerbridge July 28, 2020 Hong Kong, PRC Investment holding Powercrypto Holding Pte. Ltd. (“Powercrypto”) 100% by Powerbridge October 1, 2021 Singapore Management consultancy services Powercrypto USA Inc. 100% by Powerbridge April 5, 2022 USA Management consultancy services Powerbridge Technology Group Co., Ltd. (“Powerbridge Zhuhai”) 100% by Powerbridge HK October 30, 1997 the PRC software application and technology services Powerstream Supply Chain Co., Ltd. (“Powerstream”) 100% by Powerbridge HK August 17, 2021 the PRC Supply chain business Powermeta Digital Co., Ltd. (“Powermeta”) 100% by Powerbridge HK January 21, 2022 the PRC software application and technology services Powerstream Capital Co., Ltd. (“Powerstream Capital”) 100% by Powerbridge HK August 11, 2022 the PRC Investment,software application and technology services Shenzhen Hongding Interconnect Technology Co., Ltd. 100% by Hongding October 21, 2020 the PRC software application and technology services Shenzhen Honghao Internet Technology Co., Ltd (“Honghao”) 100% by Hongding July 28, 2020 the PRC software application and technology services Wuhan Honggang Technology Co., Ltd (“Honggang”) 60% by Powerbridge Zhuhai June 21, 2019 the PRC software application and technology services Chongqing Powerbridge Zhixin Technology Co., Ltd (“Zhixin”) (2) 45% by Powerbridge Zhuhai September 2, 2019 the PRC software application and technology services Hongxi Data Technology Co., Ltd. 70% by Powerbridge Zhuhai February 8, 2021 Macau software application and technology services Zhuhai Hongyang Supply Chain Co., Ltd. (“Zhuhai Hongyang”) 60% by Powerbridge Zhuhai July 21, 2021 the PRC Supply chain business Ningbo Zhijing Tongfu Technology Co., Ltd. (“Ningbo Zhijing”) (2) 51% by Powerbridge Zhuhai April 25, 2021 the PRC software application and technology services Metafusion Digital Co., Ltd (“Metafusion”) 66% by Powermeta Digital February 15, 2022 the PRC software application and technology services (1) On November 29, 2022, Powerbridge Technologies Co., Ltd changed the name to Powerbridge Holding Limited. (2) Certain third-party shareholders of Zhixin signed consents with the Company for the year ended December 31, 2022, which stated that the Company has the power and control to direct the activities that most significantly impact Zhixin and they unconditionally vote by consensus with the Company in all the board decisions. As such, the Company consolidates the financial results of Zhixin based on the voting power.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Nature of Business and Organization [Abstract]
Schedule of reconciliation of the beginning and ending balances for convertible loans measured at fair value on a recurring basis	December 31, December 31, 2022 2021 Opening balance $ 2,251,832 $ - Issuance of convertible note 7,979,983 6,860,000 Loss on change in fair value of convertible notes 2,448,936 1,508,229 Accrued interest 195,139 226,775 Conversion of convertible notes (3,795,924 ) (6,343,172 ) Total $ 9,079,966 $ 2,251,832
Schedule of estimated useful lives	Useful Life Office equipment, fixtures and furniture 3-10 years Automobiles 5-8 years Capitalized development costs and software acquired 5-10 years Computer equipment 5 years Buildings 28 years

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of accounts receivable, net	As of December 31, 2022 2021 Accounts receivable $ 21,895,260 $ 26,825,337 Less: Allowance for doubtful accounts (7,080,677 ) (2,607,600 ) Total accounts receivable, net $ 14,814,583 $ 24,217,737
Schedule of movement of allowance for doubtful accounts	As of December 31, 2022 2021 2020 Beginning balance $ 2,607,600 $ 1,581,142 $ 1,669,658 Provision for doubtful accounts 4,783,518 1,011,760 - Recovery - - (189,286 ) Written-off - (34,879 ) - Foreign currency translation adjustments (310,441 ) 49,577 100,770 Ending balance $ 7,080,677 $ 2,607,600 $ 1,581,142

Prepayments, Deposits and Oth_2

Prepayments, Deposits and Other Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Prepayments, Deposits and Other Assets, Net [Abstract]
Schedule of prepayments, deposits and other assets, net	As of December 31, 2022 2021 Security deposits (1) $ 216,446 $ 381,813 Advances to suppliers 564,810 1,483,084 Advances to employees 141,249 317,725 Prepaid expense 976,788 360,074 Others 139,976 188,216 2,039,269 2,730,912 Less: Long term portion (226,544 ) (381,656 ) Allowance for doubtful accounts (364,973 ) (313,844 ) Prepayments, deposits and other assets – current portion $ 1,447,752 $ 2,035,412 (1) Security deposits mainly represent contract fulfillment deposits required by customer for specific projects, rent deposits and etc.
Schedule of allowance for doubtful accounts	As of December 31, 2022 2021 2020 Beginning balance $ 313,844 $ 306,513 $ 31,139 Provision for doubtful accounts 75,000 88,846 258,280 Written-off - (88,846 ) - Foreign currency translation adjustments (23,871 ) 7,331 17,094 Ending balance $ 364,973 $ 313,844 $ 306,513

Loans to Third Parties (Tables)

Loans to Third Parties (Tables)	12 Months Ended
	Dec. 31, 2022
Loans To Third Parties Abstract
Schedule of loans to third parties	As of December 31, 2022 2021 Unsecured loan receivable from third parties (1) $ - $ 300,000 Guaranteed loan receivable from media business (2) 59,612,192 68,468,129 59,612,192 68,768,129 Less: Long term portion - (64,951,511 ) Prepayments, deposits and other assets – current portion $ 59,612,192 $ 3,816,618 (1) As of December 31,2021, the loan to third party (Yuxia Xu) amounted to $300,000 with annual interest approximately 4.85% upon maturity, unsecured and due on March 7, 2022. The interest rate raised to 10% after March 7, 2021. Yuxia Xu was appointed CFO and Chief Operating Officer, with effect from May 1, 2022, so the loan balance as of December 31, 2022 was reclassified to due to related party. (2) Pursuant to the agreement with Shenzhen Kezhi Technology Co., Ltd.(“Kezhi”) on September 25, 2020 and a series of amendments entered during the period from September 25, 2020 to May 16, 2021, the Company intends to expand to media business through Kezhi. The Company originally planned to acquire certain media business assets from Kezhi, however, due to uncertainties in COVID-19, the Company and Kezhi ultimately reached into a final agreement (“Final agreement”) on May 16, 2021. Pursuant to the Final agreement, the Company agreed to extend a working capital support loan to Kezhi in aggregated of $64,420,344 (RMB444,320,000) with expected annual returns over two years and coupon interest rate of 5%. The company collected $4,808,152 (RMB33,162,788) in fiscal year 2022. As of December 31, 2022, the outstanding balance was $59,612,192 (RMB 411,157,212). On January 5, 2023, the Company, Kezhi, the guarantor and the guarantor’s senior management Mr. Su Haoqing, entered into a debt extinguish agreement. Pursuant to the agreement, Mr. Su Haoqing settled the remaining RMB $59,612,192 (RMB411,157,212) debt by rendering 20 antique art pieces. .The company is performing valuation for accounting recognition purposes by a third-party valuation company.

Long Term Investment (Tables)

Long Term Investment (Tables)	12 Months Ended
	Dec. 31, 2022
Long Term Investment [Abstract]
Schedule of valuation for accounting recognition purposes by a third-party valuation company	Equity Cost method Total Balance as of January 1, 2022 $ - $ - $ - Additions 11,120,935 19,643,260 30,764,195 Balance as of December 31, 2021 $ 11,120,935 $ 19,643,260 $ 30,764,195 (i) During the year ended December 31, 2022, the Company invested $434,960 (RMB3.0 million) cash and issued 5,756,481 shares (equivalent to $1,844,377) for 5.0% equity interest in Shenzhen Chenbao Information service Co., Ltd. (“Chenbao”) in which the Company does not have significant influence and such investment does not have readily determinable fair values. On January 20, 2022, the Company invested issued 17,138,305 shares (equivalent to $8,305,222) for 19.99% equity interest in SamartConn CO., Limited (“SamartConn”) in which the Company does not have significant influence and such investment does not have readily determinable fair values. On November 1, 2022, the Company invested issued 55,506,750 shares (equivalent to $9,058,701) for 19% equity interest in DTI Group Limited (“DTI”) in which the Company does not have significant influence and such investment does not have readily determinable fair values. On January 1, 2022, the Company gained 5% equity interest in Guangzhou Xingsheng Information Technology Limited for $0 consideration, in which the Company does not have significant influence and such investment does not have readily determinable fair values. (ii) On June 28, 2022, the Company invested issued 19,942,553 shares (equivalent to $6,674,772) for 15% equity interest in Boxinrui International Holdings Limited (“Boxinrui”) in which the Company does not have significant influence and such investment do not have readily determinable fair values. On December 28, 2022, the Company further issued 55,300,530 shares (equivalent to $4,446,163) for 20% equity interest in Boxinrui International Holdings Limited. As a result, the Company considers it has significant influence on this investment based on its voting power.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	As of December 31, 2022 2021 Computer equipment $ 380,055 $ 544,972 Office equipment, fixtures and furniture 2,033,617 2,133,433 Capitalized development cost and software acquired 10,886,033 10,464,573 Automobiles 189,325 224,713 Buildings 4,715,189 - Construction in Progress - 2,656,120 Subtotal 18,204,219 16,023,811 Less: accumulated depreciation and amortization (7,207,577 ) (5,761,393 ) Total $ 10,996,642 $ 10,262,418
Schedule of amortization of capitalized development cost	Twelve months ending December 31, Estimated 2023 $ 1,740,480 2024 1,463,967 2025 971,331 2026 501,910 2027 192,039 Total $ 4,869,727

Related Party Balances and Tr_2

Related Party Balances and Transactions (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Schedule of prepaid expense, related parties	Name of Related Party Relationship to the Company Guangzhou Jiatu Culture Media Co., Ltd. (formerly as Guangzhou Powerbridge Blockchain Co., Ltd.) Company has significant influence over with this entity Ban Lor Shareholder of the Company Stewart Lor CEO Yuxia Xu CFO Hong Yu shareholder of Zhixin Shanghai Stamp Technology Co., Ltd. The Company owns equity interest Ling Lor Ban Lor’s spouse Hybridge Holding Limited Shareholder of the Company Guangodong Guangrui Network Technology Co., Ltd. (Guangdong Guangrui) Company has significant influence over with this entity.
Schedule of due from related parties	As of December 31, 2022 2021 Guangzhou Jiatu Culture Media Co., Ltd. (1) $ - $ 132,345 Shanghai Stamp Technology Co., Ltd. (2) 172,811 - Ling Lor (2) - 8,661 Ban Lor (2) 37,638 706,148 Stewart Lor (2) 1,566,478 781,284 Yuxia Xu (2) 363,666 - Subtotal 2,140,593 1,628,438 Less: allowance for doubtful accounts - (132,345 ) Due from related parties, net $ 2,140,593 $ 1,496,093 (1) In 2020, the Company had consulting fee prepayment of $132,345 to Guangzhou Jiatu Culture Media Co., Ltd. as of December 31, 2021, which the Company has significant influence over with. Both parties negotiated to terminate the consulting service. The balance of $132,345 as of December 31, 2021 was fully allowanced in 2021. From April to June 2022, Guangzhou Jiatu Culture Media Co., Ltd. continued to provide equivalent services, so the allowance was recovered. On June 2, 2022, the Company’s CFO sold the equity interest in Jiatu Culture Media Co., Ltd., so Jiatu Culture Media Co., Ltd. no longer considered as a related party. (2) From time to time, the Company advances funds to senior management for business purpose.
Schedule of due to related party	As of December 31, 2022 2021 Hong Yu (1) $ 118,114 $ 108,990 Hybridge Holding Limited (1) - 109,872 Subtotal $ 118,114 $ 218,862 (1) The above balances represent unpaid loan and expenses to these related parties.
Schedule of accounts payable-related party	As of December 31, 2022 2021 Guangzhou Guangrui (1) $ - $ 734,263 Subtotal $ - $ 734,263 (1) As the disposal of Shantou Hongrui in Febuary 2022, Guangzhou Guangrui was no longer considered as a related party and the balance was reclassified to account payable.
Schedule of purchase from related parties	For the years ended 2022 2021 2020 Guangzhou Guangrui (1) Service fees $ - $ 725,362 $ - Guangzhou Jiatu Culture Media Co., Ltd. (2) Service fees $ 62,667 $ - $ - Stewart Lor Interest income $ 117,569 $ - $ - Yuxia Xu Interest income $ 22,802 $ - $ - Shanghai Stamp Technology Co., Ltd. Interest income $ 1,771 $ - $ - (1) As the disposal of Shantou Hongrui in Febuary 2022, Guangzhou Guangrui was no longer considered as a related party. (2) On June 2, 2022, the Company’s CFO sold the equity interest in Jiatu Culture Media Co., Ltd., so Jiatu Culture Media Co., Ltd. no longer considered as a related party.

Bank Loans (Tables)

Bank Loans (Tables)	12 Months Ended
	Dec. 31, 2022
Bank Loans [Abstract]
Schedule of outstanding balance of short-term bank loans	December 31, December 31, Loan from Bank of Communication $ 2,174,796 $ 1,569,218 Loan from Bank of China 434,959 470,765 Loan from Guangfa Bank - 2,353,828 $ 2,609,755 $ 4,393,811

Lease (Tables)

Lease (Tables)	12 Months Ended
	Dec. 31, 2022
Lease [Abstract]
Schedule of operating leases	December 31, Right-of-use assets, net $ 211,585 Operating lease liabilities - current 91,587 Operating lease liabilities - non-current 101,992 Total operating lease liabilities $ 193,579
Schedule of weighted average lease terms and discount rates for all of operating leases	Remaining lease term and discount rate: Weighted average remaining lease term (years) 2.4 years Weighted average discount rate 5.0 %
Schedule of maturities of lease liabilities	Twelve months ending June 30, RMB 2023 99,014 2024 76,601 2025 28,772 Total future minimum lease payments 204,387 Less: imputed interest 10,808 Present value of lease liabilities 193,579

Convertible Note (Tables)

Convertible Note (Tables)	12 Months Ended
	Dec. 31, 2022
Convertible Debt [Abstract]
Schedule of conversion of convertible note	February 9, Risk-free interest rate 0.53-0.91 % Expected life 0.20-0.48 year Discount rate 9.33-11.22 % Expected volatility 80.48-143.72 % Expected dividend yield 0 % Fair value $ 2,261,270 November 8, Risk-free interest rate 4.66-4.72 % Expected life 0.70-0.83 year Discount rate 1137-11.72 % Expected volatility 99.91-103.93 % Expected dividend yield 0 % Fair value $ 1,534,654

Taxes (Tables)

Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of provision for income taxes	For the years ended December 31, 2022 2021 2020 Current $ (563,650 ) $ 135 $ 109 Deferred (435,741 ) (174,076 ) (80,641 ) Total income tax benefit $ (999,391 ) $ (173,941 ) $ (80,532 )
Schedule of effective tax rate	For the years ended December 31, 2022 2021 2020 PRC statutory rates 25.0 25.0 % 25.0 % Preferential tax rates (2.9 ) (25.8 )% (25.0 )% R&D credits 1.5 3.0 % 1.7 % Change in valuation allowance and others (19.2 ) (0.4 )% (1.3 )% Effective tax rate 4.4 1.8 % 0.4 %
Schedule of deferred tax assets	As of December 31, 2022 2021 Deferred tax assets: Provision for doubtful accounts $ 1,260,557 $ 455,343 Depreciation and amortization 162,980 145,928 Net operating loss carryforward 1,388,155 738,187 Valuation allowance (1,831,039 ) (738,187 ) Total deferred tax assets $ 980,653 $ 601,271
Schedule of taxes payable	As of December 31, 2022 2021 Income taxes payable $ - $ 594,026 VAT and other tax payable 110,843 136,898 Totals $ 110,843 $ 730,924

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Schedule of estimate the fair value of stock options	Options Options Options Amended in May, 2022 Options Amended in December, 2022 Risk-free interest rate 0.81 % 1.66 % 0.81 % 4.44 % Expected life of the options 5 years 4.33 years 4.03 years 3.43 years Expected volatility 96.0 % 96.0 % 96.0 % 96.0 % Expected dividend yield - % - % - % - % Fair value $ 7,232,526 $ 2,106,163 $ 1,652,811 $ 689,971
Schedule of stock options	Number of Weighted Weighted Aggregate US$ Year US$ Outstanding as of December 31, 2019 1,350,500 4.72 5.37 - Granted - - - - Expired, forfeited or cancelled - - - - Outstanding as of December 31, 2020 1,350,500 4.72 4.37 - Granted 7,604,964 1.22 - Exercised (58,110 ) Outstanding as of December 31, 2021 8,897,354 1.74 4.23 - Granted - - - - Cancelled (1,050,500 ) 4.72 - - Outstanding as of December 31, 2022 7,846,854 1.30 3.49 Exercisable as of December 31, 2022 7,846,854 1.30 3.49 -

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of revenues	For the Years Ended December 31, 2022 2021 2020 REVENUES: Application development services* $ 3,847,199 $ 20,323,422 $ 21,985,214 Consulting and technical support services 2,538,500 4,555,352 3,797,354 Subscription services 758,526 936,913 881,443 Trading revenue 3,338,584 6,277,141 - Total revenues $ 10,482,809 $ 32,092,828 $ 26,664,011 * For the years ended December 31, 2022, 2021 and 2020, certain application development service arrangements included sales of IT equipment. Such revenue of $2,609,531, $14,472,010 and $6,299,982 was included in the application development service revenue for years ended December 31,2022, 2021 and 2020, respectively.

Nature of Business and Organi_3

Nature of Business and Organization (Details) - USD ($)		12 Months Ended
	Feb. 10, 2019	Dec. 31, 2022	Dec. 05, 2022	Dec. 31, 2021	Feb. 06, 2021	Apr. 04, 2019	Aug. 27, 2018	Aug. 07, 2018	Sep. 28, 2017
Nature of Business and Organization (Details) [Line Items]
Ordinary shares	300,000,000
Share price per share	$ 0.00166667
Common stock, shares issued					23,954
Common stock, par value		$ 0.00166667		$ 0.00166667
Reverse stock split description	the board of directors approved a reverse stock split of the Company’s authorized number of Ordinary Shares at a ratio of 1-0.6.
Common stock, shares issued		285,005,647		56,794,773
Common stock, shares outstanding		285,005,647		56,794,773
Common Stock [Member]
Nature of Business and Organization (Details) [Line Items]
Common stock, par value		$ 0.0001	$ 0.00166667				$ 0.001
Common stock, shares issued	6,905,248						11,508,747
Common stock, shares outstanding	6,905,248
Powerbridge Zhuhai [Member]
Nature of Business and Organization (Details) [Line Items]
Equity interest percentage		84.90%						100%	55%
Mr. Tianfei Feng [Member]
Nature of Business and Organization (Details) [Line Items]
Equity interest percentage									45%
Powerbridge [Member]
Nature of Business and Organization (Details) [Line Items]
Equity interest percentage								100%
Powerbridge HK [Member]
Nature of Business and Organization (Details) [Line Items]
Equity interest percentage								100%
IPO [Member]
Nature of Business and Organization (Details) [Line Items]
Ordinary shares						2,012,500
Share price per share						$ 5
Gross proceeds		$ 10,062,500
Net proceeds		$ 8,021,987
Over-Allotment Option [Member]
Nature of Business and Organization (Details) [Line Items]
Ordinary shares						262,500
Share price per share						$ 5
Powerbridge Zhuhai [Member]
Nature of Business and Organization (Details) [Line Items]
Common stock, shares issued		11,508,747
Common stock, par value		$ 0.001

Nature of Business and Organi_4

Nature of Business and Organization (Details) - Schedule of details of company's principal subsidiaries	12 Months Ended
	Dec. 31, 2022
Powerbridge Holding Limited (“Powerbridge HK”, formerly known as “Powerbridge Technologies Co., Limited.”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	100% by Powerbridge	[1]
Date of Incorporation	Jul. 27, 2018	[1]
Place of Incorporation	Hong Kong, PRC	[1]
Major Operation	Investment holding	[1]
Hongding Technology Co., Ltd (“Hongding”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	100% by Powerbridge
Date of Incorporation	Jul. 28, 2020
Place of Incorporation	Hong Kong, PRC
Major Operation	Investment holding
Powercrypto Holding Pte. Ltd. (“Powercrypto”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	100% by Powerbridge
Date of Incorporation	Oct. 01, 2021
Place of Incorporation	Singapore
Major Operation	Management consultancy services
Powercrypto USA Inc. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	100% by Powerbridge
Date of Incorporation	Apr. 05, 2022
Place of Incorporation	USA
Major Operation	Management consultancy services
Powerbridge Technology Group Co., Ltd. (“Powerbridge Zhuhai”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	100% by Powerbridge HK
Date of Incorporation	Oct. 30, 1997
Place of Incorporation	the PRC
Major Operation	software application and technology services
Powerstream Supply Chain Co., Ltd. (“Powerstream”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	100% by Powerbridge HK
Date of Incorporation	Aug. 17, 2021
Place of Incorporation	the PRC
Major Operation	Supply chain business
Powermeta Digital Co., Ltd. (“Powermeta”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	100% by Powerbridge HK
Date of Incorporation	Jan. 21, 2022
Place of Incorporation	the PRC
Major Operation	software application and technology services
Powerstream Capital Co., Ltd. (“Powerstream Capital”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	100% by Powerbridge HK
Date of Incorporation	Aug. 11, 2022
Place of Incorporation	the PRC
Major Operation	Investment,software application and technology services
Shenzhen Hongding Interconnect Technology Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	100% by Hongding
Date of Incorporation	Oct. 21, 2020
Place of Incorporation	the PRC
Major Operation	software application and technology services
Shenzhen Honghao Internet Technology Co., Ltd (“Honghao”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	100% by Hongding
Date of Incorporation	Jul. 28, 2020
Place of Incorporation	the PRC
Major Operation	software application and technology services
Wuhan Honggang Technology Co., Ltd (“Honggang”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	60% by Powerbridge Zhuhai
Date of Incorporation	Jun. 21, 2019
Place of Incorporation	the PRC
Major Operation	software application and technology services
Chongqing Powerbridge Zhixin Technology Co., Ltd (“Zhixin”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	45% by Powerbridge Zhuhai	[2]
Date of Incorporation	Sep. 02, 2019	[2]
Place of Incorporation	the PRC	[2]
Major Operation	software application and technology services	[2]
Hongxi Data Technology Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	70% by Powerbridge Zhuhai
Date of Incorporation	Feb. 08, 2021
Place of Incorporation	Macau
Major Operation	software application and technology services
Zhuhai Hongyang Supply Chain Co., Ltd. (“Zhuhai Hongyang”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	60% by Powerbridge Zhuhai
Date of Incorporation	Jul. 21, 2021
Place of Incorporation	the PRC
Major Operation	Supply chain business
Ningbo Zhijing Tongfu Technology Co., Ltd. (“Ningbo Zhijing”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	51% by Powerbridge Zhuhai	[2]
Date of Incorporation	Apr. 25, 2021	[2]
Place of Incorporation	the PRC	[2]
Major Operation	software application and technology services	[2]
Metafusion Digital Co., Ltd (“Metafusion”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of Ownership	66% by Powermeta Digital
Date of Incorporation	Feb. 15, 2022
Place of Incorporation	the PRC
Major Operation	software application and technology services
[1] On November 29, 2022, Powerbridge Technologies Co., Ltd changed the name to Powerbridge Holding Limited. Certain third-party shareholders of Zhixin signed consents with the Company for the year ended December 31, 2022, which stated that the Company has the power and control to direct the activities that most significantly impact Zhixin and they unconditionally vote by consensus with the Company in all the board decisions. As such, the Company consolidates the financial results of Zhixin based on the voting power.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)		1 Months Ended	12 Months Ended
	Sep. 01, 2022	Nov. 29, 2022	Sep. 09, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies (Details) [Line Items]
Working capital (in Dollars)				$ 59,500,000
Net loss (in Dollars)				21,500,000
Negative operation cash flow (in Dollars)				9,700,000
Cash (in Dollars)				9,400,000
Securities purchase agreement description	the Company entered into a securities purchase agreement with White Lion Capital LLC (“White Lion”). Pursuant to the agreement, White Lion shall purchase up to $15 million of the Company’s ordinary shares at the lowest daily VWAP of the Ordinary Shares during the Valuation Period by 97%. As of December 31, 2022, the Company issued 22,875,000 ordinary shares and net proceeds was $3,519,202. In 2023, the Company issued 5,000,000 ordinary shares and net proceeds was $491,180	the Company entered into a securities purchase agreement with TBS Capital LP, (“TBS”). Pursuant to the agreement, TBS shall purchase up to $15 million of the Company’s ordinary shares at the market price by 96%, and the company shall issue to Yorkville 223,880 ordinary shares as a commitment fee. The Company issued 223,880 ordinary shares for commitment fee on December 15, 2022. In 2023, the Company issued 6,250,000 ordinary shares and net proceeds was $530,000.	the Company entered into a securities purchase agreement with YA II PN, LTD.. Pursuant to the agreement, YA II PN, LTD. shall purchase up to $30 million of the Company’s ordinary shares at the market price by 96%, and the company shall issue to YA II PN, LTD. 223,880 ordinary shares as a commitment fee. As of December 31, 2022, the Company issued 17,035,074 ordinary shares and net proceeds was $3,511,317. The Company issued 223,880 ordinary shares for commitment fee on January 1, 2023. In 2023, the Company issued 26,235,245 ordinary shares and net proceeds was $2,758,873
Cash balances (in Dollars)				9,380,322	$ 6,960,996
Restricted cash (in Dollars)					95,252
Impairment long-lived assets (in Dollars)
Percentage of revenue				31.80%
Balance of customer deposits (in Dollars)				$ 483,735	575,303
Deferred revenue (in Dollars)				893,263	1,344,637
Advertising expense (in Dollars)				$ 25,373	$ 279,979	$ 53,445
Income tax benefit percentage				50%
VAT rates				13%
Appreciation percentage					2.30%
Depreciation percentage				8.20%
Accounts receivable, percentage				10%	10%
Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Contract amount				30%
VAT percentage				6%
Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Contract amount				50%
VAT percentage				13%
Customer One [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Total revenues, percentage				31.80%	12.80%	25.70%
Suppliers One [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Total purchases, percentage				38.10%	15.80%	21.30%
Total accounts payable, percentage				10.90%	10%
Supplier Two [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Total purchases, percentage				14.80%
Suppliers Three [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Total purchases, percentage				12.10%
Cash Equivalents [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Cash and restricted cash (in Dollars)				$ 5,418,450	$ 6,971,124

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of reconciliation of the beginning and ending balances for convertible loans measured at fair value on a recurring basis - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule of reconciliation of the beginning and ending balances for convertible loans measured at fair value on a recurring basis [Abstract]
Opening balance	$ 2,251,832
Issuance of convertible note	7,979,983	6,860,000
Loss on change in fair value of convertible notes	2,448,936	1,508,229
Accrued interest	195,139	226,775
Conversion of convertible notes	(3,795,924)	(6,343,172)
Total	$ 9,079,966	$ 2,251,832

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives	12 Months Ended
	Dec. 31, 2022
Office equipment, fixtures and furniture [Member] | Minimum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful lives	3 years
Office equipment, fixtures and furniture [Member] | Maximum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful lives	10 years
Automobiles [Member] | Minimum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful lives	5 years
Automobiles [Member] | Maximum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful lives	8 years
Capitalized development costs and software acquired [Member] | Minimum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful lives	5 years
Capitalized development costs and software acquired [Member] | Maximum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful lives	10 years
Computer equipment [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful lives	5 years
Buildings [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Estimated useful lives	28 years

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 28, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Net (Details) [Line Items]
Unbilled accounts receivable		$ 10,027,584	$ 13,067,528
Unbilled accounts receivables, description		The unbilled accounts receivables as of December 31, 2022 are expected to be billed within one year and collected over one year. The billed accounts receivable is expected to be collected within one year.
Total account receivable		$ 14,814,583	$ 24,217,737
Total accounts receivable percentage	7.30%
Percentage of billed accounts receivable		12.50%
Percentage of unbilled accounts receivable		1.10%
Subsequent Event [Member]
Accounts Receivable, Net (Details) [Line Items]
Total account receivable	$ 1,600,000

Accounts Receivable, Net (Det_2

Accounts Receivable, Net (Details) - Schedule of accounts receivable, net - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of Accounts Receivable Net [Abstract]
Accounts receivable	$ 21,895,260	$ 26,825,337
Less: Allowance for doubtful accounts	(7,080,677)	(2,607,600)
Total accounts receivable, net	$ 14,814,583	$ 24,217,737

Accounts Receivable, Net (Det_3

Accounts Receivable, Net (Details) - Schedule of movement of allowance for doubtful accounts - Accounts Receivable [Member] - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Net (Details) - Schedule of movement of allowance for doubtful accounts [Line Items]
Beginning balance	$ 2,607,600	$ 1,581,142	$ 1,669,658
Provision for doubtful accounts	4,783,518	1,011,760
Recovery			(189,286)
Written-off		(34,879)
Foreign currency translation adjustments	(310,441)	49,577	100,770
Ending balance	$ 7,080,677	$ 2,607,600	$ 1,581,142

Prepayments, Deposits and Oth_3

Prepayments, Deposits and Other Assets, Net (Details) - Schedule of prepayments, deposits and other assets, net - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Schedule of prepayments, deposits and other assets, net [Abstract]
Security deposits	[1]	$ 216,446	$ 381,813
Advances to suppliers		564,810	1,483,084
Advances to employees		141,249	317,725
Prepaid expense		976,788	360,074
Others		139,976	188,216
Prepayments, deposits and other assets, net		2,039,269	2,730,912
Less: Long term portion		(226,544)	(381,656)
Allowance for doubtful accounts		(364,973)	(313,844)
Prepayments, deposits and other assets – current portion		$ 1,447,752	$ 2,035,412
[1] Security deposits mainly represent contract fulfillment deposits required by customer for specific projects, rent deposits and etc.

Prepayments, Deposits and Oth_4

Prepayments, Deposits and Other Assets, Net (Details) - Schedule of allowance for doubtful accounts - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of allowance for doubtful accounts [Abstract]
Beginning balance	$ 313,844	$ 306,513	$ 31,139
Provision for doubtful accounts	75,000	88,846	258,280
Written-off		(88,846)
Foreign currency translation adjustments	(23,871)	7,331	17,094
Ending balance	$ 364,973	$ 313,844	$ 306,513

Loans to Third Parties (Details

Loans to Third Parties (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Mar. 31, 2023 USD ($)	Mar. 14, 2023 USD ($)	Jan. 19, 2023 USD ($)	Jan. 16, 2023 USD ($)	Jan. 05, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)
Loans to Third Parties (Details) [Line Items]
Annual interest (in Dollars) | $			$ 300,000
Percentage of unsecured annual interest			4.85%
Interest rate			10%
Loan to third parties, description	Pursuant to the agreement with Shenzhen Kezhi Technology Co., Ltd.(“Kezhi”) on September 25, 2020 and a series of amendments entered during the period from September 25, 2020 to May 16, 2021, the Company intends to expand to media business through Kezhi. The Company originally planned to acquire certain media business assets from Kezhi, however, due to uncertainties in COVID-19, the Company and Kezhi ultimately reached into a final agreement (“Final agreement”) on May 16, 2021. Pursuant to the Final agreement, the Company agreed to extend a working capital support loan to Kezhi in aggregated of $64,420,344 (RMB444,320,000) with expected annual returns over two years and coupon interest rate of 5%.	Pursuant to the agreement with Shenzhen Kezhi Technology Co., Ltd.(“Kezhi”) on September 25, 2020 and a series of amendments entered during the period from September 25, 2020 to May 16, 2021, the Company intends to expand to media business through Kezhi. The Company originally planned to acquire certain media business assets from Kezhi, however, due to uncertainties in COVID-19, the Company and Kezhi ultimately reached into a final agreement (“Final agreement”) on May 16, 2021. Pursuant to the Final agreement, the Company agreed to extend a working capital support loan to Kezhi in aggregated of $64,420,344 (RMB444,320,000) with expected annual returns over two years and coupon interest rate of 5%.
Collected value	$ 4,808,152								¥ 33,162,788
Outstanding balance	$ 59,612,192	¥ 411,157,212
Subsequent Event [Member]
Loans to Third Parties (Details) [Line Items]
Collected value | $				$ 26,849,931	$ 204,758	$ 1,449,864	$ 520,174
Mr. Su Haoqing [Member] | Subsequent Event [Member]
Loans to Third Parties (Details) [Line Items]
Settled amount | ¥								¥ 59,612,192
Debt amount | ¥								¥ 411,157,212

Loans to Third Parties (Detai_2

Loans to Third Parties (Details) - Schedule of loans to third parties - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Schedule Of Loans To Third Parties Abstract
Unsecured loan receivable from third parties	[1]		$ 300,000
Guaranteed loan receivable from media business	[2]	59,612,192	68,468,129
Loans to third parties, total		59,612,192	68,768,129
Less: Long term portion			(64,951,511)
Prepayments, deposits and other assets – current portion		$ 59,612,192	$ 3,816,618
[1] As of December 31,2021, the loan to third party (Yuxia Xu) amounted to $300,000 with annual interest approximately 4.85% upon maturity, unsecured and due on March 7, 2022. The interest rate raised to 10% after March 7, 2021. Yuxia Xu was appointed CFO and Chief Operating Officer, with effect from May 1, 2022, so the loan balance as of December 31, 2022 was reclassified to due to related party. Pursuant to the agreement with Shenzhen Kezhi Technology Co., Ltd.(“Kezhi”) on September 25, 2020 and a series of amendments entered during the period from September 25, 2020 to May 16, 2021, the Company intends to expand to media business through Kezhi. The Company originally planned to acquire certain media business assets from Kezhi, however, due to uncertainties in COVID-19, the Company and Kezhi ultimately reached into a final agreement (“Final agreement”) on May 16, 2021. Pursuant to the Final agreement, the Company agreed to extend a working capital support loan to Kezhi in aggregated of $64,420,344 (RMB444,320,000) with expected annual returns over two years and coupon interest rate of 5%. The company collected $4,808,152 (RMB33,162,788) in fiscal year 2022. As of December 31, 2022, the outstanding balance was $59,612,192 (RMB 411,157,212). On January 5, 2023, the Company, Kezhi, the guarantor and the guarantor’s senior management Mr. Su Haoqing, entered into a debt extinguish agreement. Pursuant to the agreement, Mr. Su Haoqing settled the remaining RMB $59,612,192 (RMB411,157,212) debt by rendering 20 antique art pieces. .The company is performing valuation for accounting recognition purposes by a third-party valuation company.

Long Term Investment (Details)

Long Term Investment (Details) ¥ in Millions			1 Months Ended			12 Months Ended
	Nov. 01, 2022 USD ($) shares	Jan. 01, 2022 USD ($)	Dec. 28, 2022 USD ($) shares	Jun. 28, 2022 USD ($) shares	Jan. 20, 2022 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 CNY (¥)
Disclosure Text Block Supplement [Abstract]
Amount inverted						$ 434,960	¥ 3
Share issued (in Shares) | shares	55,506,750		55,300,530	19,942,553	17,138,305	5,756,481
Equivalent value	$ 9,058,701		$ 4,446,163	$ 6,674,772	$ 8,305,222	$ 1,844,377
Equity interest percentage	19%	5%	20%	15%	19.99%	5%	5%
Consideration		$ 0

Long Term Investment (Details)

Long Term Investment (Details) - Schedule of valuation for accounting recognition purposes by a third-party valuation company	12 Months Ended
	Dec. 31, 2022 USD ($)
Long Term Investment (Details) - Schedule of valuation for accounting recognition purposes by a third-party valuation company [Line Items]
Balance as of January 1, 2022
Additions	30,764,195
Balance as of December 31, 2021	30,764,195
Equity investments accounted for using the equity method [Member]
Long Term Investment (Details) - Schedule of valuation for accounting recognition purposes by a third-party valuation company [Line Items]
Balance as of January 1, 2022		[1]
Additions	11,120,935	[1]
Balance as of December 31, 2021	11,120,935	[1]
Cost method investments without readily determinable fair value [Member]
Long Term Investment (Details) - Schedule of valuation for accounting recognition purposes by a third-party valuation company [Line Items]
Balance as of January 1, 2022		[2]
Additions	19,643,260	[2]
Balance as of December 31, 2021	$ 19,643,260	[2]
[1] During the year ended December 31, 2022, the Company invested $434,960 (RMB3.0 million) cash and issued 5,756,481 shares (equivalent to $1,844,377) for 5.0% equity interest in Shenzhen Chenbao Information service Co., Ltd. (“Chenbao”) in which the Company does not have significant influence and such investment does not have readily determinable fair values. On January 20, 2022, the Company invested issued 17,138,305 shares (equivalent to $8,305,222) for 19.99% equity interest in SamartConn CO., Limited (“SamartConn”) in which the Company does not have significant influence and such investment does not have readily determinable fair values. On November 1, 2022, the Company invested issued 55,506,750 shares (equivalent to $9,058,701) for 19% equity interest in DTI Group Limited (“DTI”) in which the Company does not have significant influence and such investment does not have readily determinable fair values. On January 1, 2022, the Company gained 5% equity interest in Guangzhou Xingsheng Information Technology Limited for $0 consideration, in which the Company does not have significant influence and such investment does not have readily determinable fair values.

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 359,344	$ 324,367	$ 310,845
Amortization expense	1,803,853	$ 1,692,352	$ 1,140,727
Book value amount	$ 4,184,190

Property and Equipment, Net (_2

Property and Equipment, Net (Details) - Schedule of property and equipment, net - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Subtotal	$ 18,204,219	$ 16,023,811
Less: accumulated depreciation and amortization	(7,207,577)	(5,761,393)
Total	10,996,642	10,262,418
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Subtotal	380,055	544,972
Office equipment, fixtures and furniture [Member]
Property, Plant and Equipment [Line Items]
Subtotal	2,033,617	2,133,433
Capitalized development cost and software acquired [Member]
Property, Plant and Equipment [Line Items]
Subtotal	10,886,033	10,464,573
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Subtotal	189,325	224,713
Buildings [Member]
Property, Plant and Equipment [Line Items]
Subtotal	4,715,189
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Subtotal		$ 2,656,120

Property and Equipment, Net (_3

Property and Equipment, Net (Details) - Schedule of amortization of capitalized development cost	Dec. 31, 2022 USD ($)
Schedule of amortization of capitalized development cost [Abstract]
2023	$ 1,740,480
2024	1,463,967
2025	971,331
2026	501,910
2027	192,039
Total	$ 4,869,727

Related Party Balances and Tr_3

Related Party Balances and Transactions (Details) - Guangzhou Jiatu Culture Media Co., Ltd. [Member]	12 Months Ended
	Dec. 31, 2021 USD ($)
Related Party Balances and Transactions (Details) [Line Items]
Consulting fee prepayment	$ 132,345
Balance due from related party	$ 132,345

Related Party Balances and Tr_4

Related Party Balances and Transactions (Details) - Schedule of prepaid expense, related parties	12 Months Ended
	Dec. 31, 2022
Guangzhou Jiatu Culture Media Co., Ltd. (formerly as Guangzhou Powerbridge Blockchain Co., Ltd.) [Member]
Related Party Balances and Transactions (Details) - Schedule of prepaid expense, related parties [Line Items]
Relationship to the Company	Company has significant influence over with this entity
Ban Lor [Member]
Related Party Balances and Transactions (Details) - Schedule of prepaid expense, related parties [Line Items]
Relationship to the Company	Shareholder of the Company
Stewart Lor [Member]
Related Party Balances and Transactions (Details) - Schedule of prepaid expense, related parties [Line Items]
Relationship to the Company	CEO
Yuxia Xu [Member]
Related Party Balances and Transactions (Details) - Schedule of prepaid expense, related parties [Line Items]
Relationship to the Company	CFO
Hong Yu [Member]
Related Party Balances and Transactions (Details) - Schedule of prepaid expense, related parties [Line Items]
Relationship to the Company	shareholder of Zhixin
Shanghai Stamp Technology Co., Ltd. [Member]
Related Party Balances and Transactions (Details) - Schedule of prepaid expense, related parties [Line Items]
Relationship to the Company	The Company owns equity interest
Ling Lor [Member]
Related Party Balances and Transactions (Details) - Schedule of prepaid expense, related parties [Line Items]
Relationship to the Company	Ban Lor’s spouse
Hybridge Holding Limited [Member]
Related Party Balances and Transactions (Details) - Schedule of prepaid expense, related parties [Line Items]
Relationship to the Company	Shareholder of the Company
Guangodong Guangrui Network Technology Co., Ltd. (Guangdong Guangrui) [Member]
Related Party Balances and Transactions (Details) - Schedule of prepaid expense, related parties [Line Items]
Relationship to the Company	Company has significant influence over with this entity.

Related Party Balances and Tr_5

Related Party Balances and Transactions (Details) - Schedule of due from related parties - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Related Party Balances and Transactions (Details) - Schedule of due from related parties [Line Items]
Subtotal		$ 2,140,593	$ 1,628,438
Less: allowance for doubtful accounts			(132,345)
Due from related parties, net		2,140,593	1,496,093
Guangzhou Jiatu Culture Media Co., Ltd. [Member]
Related Party Balances and Transactions (Details) - Schedule of due from related parties [Line Items]
Subtotal	[1]		132,345
Shanghai Stamp Technology Co., Ltd. [Member]
Related Party Balances and Transactions (Details) - Schedule of due from related parties [Line Items]
Subtotal	[2]	172,811
Ling Lor [Member]
Related Party Balances and Transactions (Details) - Schedule of due from related parties [Line Items]
Subtotal	[2]		8,661
Ban Lor [Member]
Related Party Balances and Transactions (Details) - Schedule of due from related parties [Line Items]
Subtotal	[2]	37,638	706,148
Stewart Lor [Member]
Related Party Balances and Transactions (Details) - Schedule of due from related parties [Line Items]
Subtotal	[2]	1,566,478	781,284
Yuxia Xu [Member]
Related Party Balances and Transactions (Details) - Schedule of due from related parties [Line Items]
Subtotal	[2]	$ 363,666
[1] In 2020, the Company had consulting fee prepayment of $132,345 to Guangzhou Jiatu Culture Media Co., Ltd. as of December 31, 2021, which the Company has significant influence over with. Both parties negotiated to terminate the consulting service. The balance of $132,345 as of December 31, 2021 was fully allowanced in 2021. From April to June 2022, Guangzhou Jiatu Culture Media Co., Ltd. continued to provide equivalent services, so the allowance was recovered. On June 2, 2022, the Company’s CFO sold the equity interest in Jiatu Culture Media Co., Ltd., so Jiatu Culture Media Co., Ltd. no longer considered as a related party. From time to time, the Company advances funds to senior management for business purpose.

Related Party Balances and Tr_6

Related Party Balances and Transactions (Details) - Schedule of due to related party - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Related Party Balances and Transactions (Details) - Schedule of due to related party [Line Items]
Due to related party		$ 118,114	$ 218,862
Hong Yu [Member]
Related Party Balances and Transactions (Details) - Schedule of due to related party [Line Items]
Due to related party	[1]	118,114	108,990
Hybridge Holding Limited [Member]
Related Party Balances and Transactions (Details) - Schedule of due to related party [Line Items]
Due to related party	[1]		$ 109,872
[1]The above balances represent unpaid loan and expenses to these related parties.

Related Party Balances and Tr_7

Related Party Balances and Transactions (Details) - Schedule of accounts payable-related party - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Subtotal			$ 734,263
Guangzhou Guangrui [Member]
Related Party Transaction [Line Items]
Subtotal	[1]		$ 734,263
[1]As the disposal of Shantou Hongrui in Febuary 2022, Guangzhou Guangrui was no longer considered as a related party and the balance was reclassified to account payable.

Related Party Balances and Tr_8

Related Party Balances and Transactions (Details) - Schedule of purchase from related parties - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Guangzhou Guangrui [Member]
Related Party Balances and Transactions (Details) - Schedule of purchase from related parties [Line Items]
Related party transactions amount	[1]		$ 725,362
Guangzhou Jiatu Culture Media Co., Ltd. [Member]
Related Party Balances and Transactions (Details) - Schedule of purchase from related parties [Line Items]
Related party transactions amount	[2]	62,667
Stewart Lor [Member]
Related Party Balances and Transactions (Details) - Schedule of purchase from related parties [Line Items]
Related party transactions amount		117,569
Yuxia XU [Member]
Related Party Balances and Transactions (Details) - Schedule of purchase from related parties [Line Items]
Related party transactions amount		22,802
Shanghai Stamp Technology Co., Ltd. [Member]
Related Party Balances and Transactions (Details) - Schedule of purchase from related parties [Line Items]
Related party transactions amount		$ 1,771
[1]As the disposal of Shantou Hongrui in Febuary 2022, Guangzhou Guangrui was no longer considered as a related party.[2]On June 2, 2022, the Company’s CFO sold the equity interest in Jiatu Culture Media Co., Ltd., so Jiatu Culture Media Co., Ltd. no longer considered as a related party.

Bank Loans (Details)

Bank Loans (Details) - USD ($)										12 Months Ended
	Dec. 30, 2022	Dec. 16, 2022	Jul. 15, 2022	Jun. 10, 2022	Jan. 28, 2022	Nov. 11, 2021	Nov. 04, 2021	Mar. 10, 2021	Mar. 09, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Bank Loans (Details) [Line Items]
Fixed asset			$ 1,800,000	$ 1,800,000	$ 2,400,000
Repaid amount	$ 289,973
Interest expense										$ 203,380	$ 211,197	$ 203,289
Weighted average interest rate										5.10%	5%	4.70%
Powerbridge Zhuhai [Member]
Bank Loans (Details) [Line Items]
Obtain loan amount		$ 724,932	$ 724,932	$ 724,932	$ 1,449,864	$ 688,979	$ 880,239	$ 2,353,828	$ 470,765
Term of loan		1 year	1 year	1 year	1 year	1 year	1 year	1 year	1 year
Fixed annual interest		4.10%	4.50%	4.50%	4.70%	4.5675%	4.5675%	5.30%	4.50%

Bank Loans (Details) - Schedule

Bank Loans (Details) - Schedule of outstanding balance of short-term bank loans - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Short-Term Debt [Line Items]
Loan from bank	$ 2,609,755	$ 4,393,811
Loan from Bank of Communication [Member]
Short-Term Debt [Line Items]
Loan from bank	2,174,796	1,569,218
Loan from Bank of China [Member]
Short-Term Debt [Line Items]
Loan from bank	434,959	470,765
Loan From Guangfa Bank [Member]
Short-Term Debt [Line Items]
Loan from bank		$ 2,353,828

Lease (Details)

Lease (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lease [Abstract]
Total lease expense	$ 162,799	$ 307,497	$ 305,832

Lease (Details) - Schedule of o

Lease (Details) - Schedule of operating leases	Dec. 31, 2022 USD ($)
Schedule of Operating Leases [Abstract]
Right-of-use assets, net	$ 211,585
Operating lease liabilities - current	91,587
Operating lease liabilities - non-current	101,992
Total operating lease liabilities	$ 193,579

Lease (Details) - Schedule of w

Lease (Details) - Schedule of weighted average lease terms and discount rates for all of operating leases	Dec. 31, 2022
Remaining lease term and discount rate:
Weighted average remaining lease term (years)	2 years 4 months 24 days
Weighted average discount rate	5%

Lease (Details) - Schedule of m

Lease (Details) - Schedule of maturities of lease liabilities	Dec. 31, 2022 CNY (¥)
Schedule of Maturities of Lease Liabilities [Abstract]
2023	¥ 99,014
2024	76,601
2025	28,772
Total future minimum lease payments	204,387
Less: imputed interest	10,808
Present value of lease liabilities	¥ 193,579

Convertible Note (Details)

Convertible Note (Details) - USD ($)					12 Months Ended
	Sep. 01, 2022	Aug. 09, 2021	Aug. 07, 2021	Apr. 09, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Convertible Note (Details) [Line Items]
Principal amount		$ 2,000,000	$ 4,000,000	$ 7,000,000
Ordinary shares, par value (in Dollars per share)	$ 0.00166667			$ 0.00166667
Purchase ordinary shares (in Shares)				571,429
Gross proceeds	$ 8,000,000			$ 6,790,000
Convertible note, description			(iii) the number of ordinary shares to be issued pursuant to the Warrant shall be increased from 571,429 to 653,061; and (iv) promptly after the Securities and Exchange Commission (the “SEC”) declares effective a registration statement to be filed by the Company pursuant to a registration rights agreement (the “Registration Rights Agreement”), YA agrees to purchase the third Note (the “Third Note”) in the principal amount of $2,000,000, which shall have identical terms as those of the Second Note.		The Notes have a conversion price of the lower of (i) US$3.675 per ordinary shares (the “Fixed Conversion Price”), or (ii) 90% of the lowest daily VWAP (Volume-Weighted Average Price) during the 10 consecutive trading days immediately preceding the conversion date or other date of determination, but not lower than the floor price of US$1.50 per ordinary share. The principal will become due and payable 12 months from the date of closing (the “Maturity Date”) and bears an annual interest rate of 6% unless earlier converted or redeemed by the Company. At any time before the Maturity Date, YA may convert the Notes at its option into ordinary shares at the conversion price.On August 7, 2021, the Company entered into an amendment (the “Closing Statement”) to the securities purchase agreement initially entered into with YA on April 9, 2021 (the “Purchase Agreement”). Pursuant to the Purchase Agreement, YA agreed to purchase convertible notes (the “Notes”) in the aggregate principal amount of US$7,000,000 (the “Principal”), which shall be convertible into the Company’s ordinary shares par value $0.00166667 per share, and a warrant (the “Warrant”) to purchase 571,429 Ordinary Shares (the “Offering”), for gross proceeds of approximately US$6,790,000.
Long-Term Debt, Maturities, Repayments of Principal in Rolling Year Four and Five			$ 2,000,000
Aggregate principal amount	$ 8,640,000				$ 2,000,000
Interest rate	6%
Original issue discount	$ 640,000
Uptowns fees	$ 20,000
Outstanding balance elected for pre payment percentage	120%
Issued an aggregate of restricted ordinary shares (in Shares)					5,929,838
Ordinary shares, par value (in Dollars per share)					$ 0.00166667	$ 0.00166667
Conversion note amount					$ 2,261,270
Aggregate restricted share (in Shares)					13,981,758
Fair value of convertible loan					$ 2,448,936	$ 1,508,229	$ 15,258,333
Interest expense recognized for these convertible loans					$ 195,139	$ 226,775
First Note [Member]
Convertible Note (Details) [Line Items]
Principal amount			8,000,000
Second closing [Member]
Convertible Note (Details) [Line Items]
Principal amount			$ 3,000,000
Convertible Note [Member]
Convertible Note (Details) [Line Items]
Ordinary shares, par value (in Dollars per share)					$ 0.00166667
Aggregate restricted share (in Shares)					1,250,310
Conversion of Convertible Note [Member]
Convertible Note (Details) [Line Items]
Conversion note amount					$ 1,534,654

Convertible Note (Details) - Sc

Convertible Note (Details) - Schedule of conversion of convertible note - USD ($)	2 Months Ended	4 Months Ended
	Dec. 24, 2022	May 25, 2022
Minimum [Member]
Convertible Note (Details) - Schedule of conversion of convertible note [Line Items]
Risk-free interest rate	4.66%	0.53%
Expected life	8 months 12 days	2 months 12 days
Discount rate	1,137%	9.33%
Expected volatility	99.91%	80.48%
Expected dividend yield	0%	0%
Fair value (in Dollars)	$ 1,534,654	$ 2,261,270
Maximum [Member]
Convertible Note (Details) - Schedule of conversion of convertible note [Line Items]
Risk-free interest rate	4.72%	0.91%
Expected life	9 months 29 days	5 months 23 days
Discount rate	11.72%	11.22%
Expected volatility	103.93%	143.72%
Expected dividend yield	0%	0%
Fair value (in Dollars)	$ 1,534,654	$ 2,261,270

Taxes (Details)

Taxes (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2022 CNY (¥)
Taxes (Details) [Line Items]
Unified enterprise income tax rate	25%
Income tax rate	15%
Statutory income tax rate	15%
Subsidiaries in PRC are subject to income tax rate	25%
Decreased income taxes	$ 662,675	$ 89,850	$ 25,735
Net income per share (in Dollars per share) | $ / shares
Description of net operating loss carryforwards	the Company has approximately $8.6 million net operating loss (“NOL”) carryforwards with expirations by 2027
Valuation allowance against	$ 1,831,039	$ 738,187
Income tax liabilities	550,602			¥ 594,026
Accrued tax liabilities	$ 550,602			¥ 3,798,484
Minimum [Member]
Taxes (Details) [Line Items]
Value add tax standard rates	6%
Accrued income tax liabilities
Maximum [Member]
Taxes (Details) [Line Items]
Value add tax standard rates	13%
Accrued income tax liabilities	$ 550,602

Taxes (Details) - Schedule of p

Taxes (Details) - Schedule of provision for income taxes - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Provision For Income Taxes [Abstract]
Current	$ (563,650)	$ 135	$ 109
Deferred	(435,741)	(174,076)	(80,641)
Total income tax benefit	$ (999,391)	$ (173,941)	$ (80,532)

Taxes (Details) - Schedule of e

Taxes (Details) - Schedule of effective tax rate	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Effective Tax Rate [Abstract]
PRC statutory rates	25%	25%	25%
Preferential tax rates	(2.90%)	(25.80%)	(25.00%)
R&D credits	1.50%	3%	1.70%
Change in valuation allowance and others	(19.20%)	(0.40%)	(1.30%)
Effective tax rate	4.40%	1.80%	0.40%

Taxes (Details) - Schedule of d

Taxes (Details) - Schedule of deferred tax assets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of Deferred Tax Assets [Abstract]
Provision for doubtful accounts	$ 1,260,557	$ 455,343
Depreciation and amortization	162,980	145,928
Net operating loss carryforward	1,388,155	738,187
Valuation allowance	(1,831,039)	(738,187)
Total deferred tax assets	$ 980,653	$ 601,271

Taxes (Details) - Schedule of t

Taxes (Details) - Schedule of taxes payable - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Schedule of Taxes Payable [Abstract]
Income taxes payable		$ 594,026
VAT and other tax payable	110,843	136,898
Totals	$ 110,843	$ 730,924

Equity (Details)

Equity (Details) - USD ($)																						1 Months Ended														7 Months Ended	12 Months Ended
	Dec. 29, 2022	Dec. 28, 2022	Dec. 12, 2022	Dec. 05, 2022	Nov. 01, 2022	Sep. 09, 2022	Sep. 01, 2022	Aug. 24, 2022	Jul. 15, 2022	Jun. 28, 2022	Jan. 26, 2022	Jan. 20, 2022	Sep. 08, 2021	Aug. 13, 2021	May 26, 2021	Aug. 24, 2020	Jul. 02, 2020	Apr. 14, 2020	Mar. 15, 2020	Apr. 04, 2019	Aug. 27, 2018	Dec. 28, 2022	Dec. 20, 2022	Jul. 22, 2022	Jun. 28, 2022	May 25, 2022	May 16, 2022	Jan. 26, 2022	Jan. 20, 2022	Feb. 23, 2021	Feb. 18, 2021	Nov. 16, 2020	Sep. 30, 2020	Jan. 31, 2020	Aug. 18, 2018	Jul. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2023	Jan. 01, 2023	Dec. 15, 2022	Sep. 20, 2022	May 18, 2022	Oct. 19, 2021	Aug. 05, 2021	Feb. 06, 2021	Nov. 28, 2019	Sep. 30, 2019	Feb. 10, 2019
Equity (Details) [Line Items]
Ordinary shares, authorized																																					300,000,000	300,000,000
Ordinary shares, par value (in Dollars per share)																																					$ 0.00166667	$ 0.00166667
Ordinary shares issued																																					285,005,647	56,794,773
Share capital (in Dollars)				$ 16,666,700																	$ 11,509
Ordinary, shares outstanding																																					285,005,647	56,794,773
Par value share				10,000,000,000
Increase of an additional shares					55,506,750																	55,300,530			19,942,553				17,138,305								5,756,481
Restricted shares as compensation																																																	57,540	50,000
Fair value of shares (in Dollars)																																					$ 332,100												$ 335,469
Consulting fee expense (in Dollars)																																					649,122	$ 461,680	$ 487,347	$ 18,430
Unrecognized share based compensation expense (in Dollars)																																					$ 11,081,667	689,807	52,249	$ 317,039
Restricted shares issued																		150,000																57,450						50,000
Ordinary shares as compensation																			150,000																	24,254
Restricted stock units									12,000,000
Per share (in Dollars per share)																																																			$ 0.00166667
Stock options issued															7,604,964					300,000
Contractual term																																					10 years
Number of outstanding percentage																	20%
Exercise price per share (in Dollars per share)															$ 1.22					$ 3.75
stock options vesting period											1 year
Stock options exercised																															58,110
Ordinary share issued																																																23,954
Stock options vested											1,795,000				3,590,000													1,795,000
Modification expense (in Dollars)																							$ 206,461				$ 137,641	$ 2,139,555
Share-based compensation expenses (in Dollars)																																					$ 3,336,452
Net proceeds amount (in Dollars)																																					$ 56,449	$ 5,128,477
Aggregate of restricted ordinary shares																																					5,929,838
Conversion amount (in Dollars)																																							$ 65,258,333
Sale of ordinary shares																														30,000,000							56,800	1,626,327
Sale of ordinary shares, par value (in Dollars per share)																														$ 0.00166667							$ 0.00166667	$ 0.00166667
Aggregate offering price (in Dollars)																														$ 200,000,000
Allocation of statutory reserve percentage																																					10%
Registered capital percentage																																					50%
Statutory reserve balances (in Dollars)
Ordinary Shares [Member]
Equity (Details) [Line Items]
Ordinary shares, authorized																					50,000,000																500,000,000
Ordinary shares, par value (in Dollars per share)				$ 0.00166667																	$ 0.001																$ 0.0001
Description of reverse stock split																																			On August 18, 2018, in order to optimize the Company’s share capital structure, the board of directors approved a reverse stock split of the Company’s authorized number of Ordinary Shares at a ratio of 10-1.
Ordinary shares issued																					11,508,747																														6,905,248
Ordinary, shares outstanding																																																			6,905,248
Increase of an additional shares				9,700,000,000
Additional par value (in Dollars per share)				$ 0.00166667
Restricted stock units																																							231,794
Conversion amount (in Dollars)																																							$ 46,297
Warrant [Member]
Equity (Details) [Line Items]
Public offering warrants, description																				the Company issued warrants totaling 122,500 units to the placement agents (the “Public Offering Warrants”). The warrants carry a term of five years and shall be exercisable at $5.50 per share. Management determined that these warrants are equity instruments because the warrants are both a) indexed to its own stock; and b) classified in shareholders’ equity. The warrants were recorded at their fair value on the date of grant as a component of shareholders’ equity. No warrants were exercised for the year ended December 31, 2020 and 2019. As of December 31, 2022 and 2021, the total number of warrants outstanding was 122,500 with weighted average remaining life of 1.24 years and 2.25 years, respectively. No warrants were exercised as of December 31, 2022 and 2021. The fair value of this Public Offering Warrants was $356,200, which was considered a direct cost of IPO and included in additional paid-in capital. The fair value has been estimated using the Black-Scholes pricing model with the following weighted-average assumptions: market value of underlying share of $5.00, risk free rate of 2.2%; expected term of 5 years; exercise price of the warrants of $5.5, volatility of 71.9%; and expected future dividends of nil.
Meeting [Member]
Equity (Details) [Line Items]
Equity description																																	As a result, the Company’s authorized share capital was $500,000 divided into 300,000,000 shares of a par value of US$0.00166667 each, with an increase of an additional 270,000,000 shares of a par value of US$0.00166667 each.
IPO [Member]
Equity (Details) [Line Items]
Initial public offering , description																				the Company consummated its initial public offering (“IPO”) of 2,012,500 Ordinary Shares at a price of $5.00 per shares including the exercise in full of the underwriters’ over-allotment option of 262,500 ordinary shares at IPO price of $5.00 per share. The gross proceeds from the IPO were $10,062,500 and the net proceeds was $8,021,987. As a result of the IPO, the Ordinary Shares now trade on the Nasdaq Capital Market under the symbol “PBTS.”
Per share (in Dollars per share)																				$ 5
Ordinary Shares [Member]
Equity (Details) [Line Items]
Ordinary shares issued																																					10,000	100,000							37,255	21,182
Fair value of shares (in Dollars)																																					$ 65,001
Restricted shares issued																																								107,540
Ordinary shares as compensation																																					100,000
Private Placement [Member]
Equity (Details) [Line Items]
Ordinary shares issued	223,880					223,880																															17,035,074						223,880
Aggregate ordinary shares							97									8,800,000
Aggregate ordinary shares, par value (in Dollars per share)																$ 0.00166667
Purchase price per share (in Dollars per share)																$ 2
Net proceeds offering amount (in Dollars)																$ 17,600,000
Purchase of ordinary shares (in Dollars)	$ 15,000,000					$ 30,000,000	$ 15,000,000
Net proceeds amount (in Dollars)																																					$ 3,511,317
Market price percentage	96%					96%
Shares issued for reserve [Member]
Equity (Details) [Line Items]
Ordinary shares issued																																												2,416,650			4,014,964
Subsequent Event [Member]
Equity (Details) [Line Items]
Per share (in Dollars per share)																																									$ 0.00166667
Subsequent Event [Member] | Private Placement [Member]
Equity (Details) [Line Items]
Ordinary shares issued																																										223,880
Conversion Convertible Loan [Member]
Equity (Details) [Line Items]
Aggregate ordinary shares			13,981,758										1,676,437	3,054,591												5,929,838
Aggregate ordinary shares, par value (in Dollars per share)			$ 0.00166667										$ 0.00166667	$ 0.00166667												$ 0.00166667						$ 0.00166667
Aggregate of restricted ordinary shares																																27,777,776
Conversion amount (in Dollars)			$ 1,534,654										$ 1,897,739	$ 4,445,433												$ 2,261,270						$ 65,258,333
Aggregate of principle (in Dollars)													$ 1,650,000
Restricted share units [Member]
Equity (Details) [Line Items]
Ordinary shares issued									1
Fair value of shares (in Dollars)																																					13,080,000
Consulting fee expense (in Dollars)																																					1,998,333
Per share (in Dollars per share)									$ 0.00166667
Stock options issued																								12,000,000
Director [Member]
Equity (Details) [Line Items]
Ordinary shares, authorized																																																			30,000,000
Ordinary shares, par value (in Dollars per share)																																																			$ 0.00166667
Ordinary shares issued																																																			6,905,248
Ordinary, shares outstanding																																																			6,905,248
2018 Stock Option Plan [Member]
Equity (Details) [Line Items]
Unrecognized share based compensation expense (in Dollars)																																						$ 2,415,370
Stock options issued																				1,050,500
Board authorized, description																																			The Board authorized that the maximum aggregate number of ordinary shares reserved and available pursuant to this Plan shall be the aggregate of (i) 1,035,787 shares, and (ii) on each January 1, starting with January 1, 2019, an additional number of shares equal to the lesser of (A) 2% of the outstanding number of ordinary shares (on a fully-diluted basis) on the immediately preceding December 31, and (B) such lower number of ordinary shares as may be determined by the Committee.
Exercise price per share (in Dollars per share)																				$ 5
Stock option, description																				On April 4, 2019, the Board approved to issue 300,000 stock options to an external consultant under 2018 stock option plan with exercise price of $3.75 per share. These options were fully vested upon grant and will expire no later than April 3, 2029.
Stock options vested											5,809,964				4,014,964													5,809,964
Share-based compensation expenses (in Dollars)																																						$ 5,873,566	$ 986,629
Minimum [Member]
Equity (Details) [Line Items]
Exercise price per share (in Dollars per share)											$ 0.34												$ 0.084				$ 0.265
stock options vesting period															1 year					1 year
Maximum [Member]
Equity (Details) [Line Items]
Exercise price per share (in Dollars per share)											$ 1.22												$ 0.265				$ 0.34
stock options vesting period															3 years					3 years
White Lion Capital LLC [Member]
Equity (Details) [Line Items]
Ordinary shares issued																																					22,875,000
Net proceeds amount (in Dollars)																																					$ 3,519,202
White Lion Capital LLC [Member] | Private Placement [Member]
Equity (Details) [Line Items]
Ordinary shares issued																																					5,000,000
Net proceeds amount (in Dollars)																																					$ 491,180
YA II PN, LTD. [Member] | Private Placement [Member]
Equity (Details) [Line Items]
Ordinary shares issued																																					26,235,245
Net proceeds amount (in Dollars)																																					$ 2,758,873
TBS Capital LP [Member] | Private Placement [Member]
Equity (Details) [Line Items]
Ordinary shares issued																																					6,250,000
Net proceeds amount (in Dollars)																																					$ 530,000
Service [Member] | Ordinary Shares [Member]
Equity (Details) [Line Items]
Ordinary shares as compensation																																					10,000
Long-Term Investment [Member]
Equity (Details) [Line Items]
Ordinary shares issued		55,300,530			55,506,750			5,756,481		19,942,553		17,138,305										55,300,530			19,942,553				17,138,305
Consideration of equity interest percentage		20%			19%			5%		15%		19.99%
Fair value of shares issued (in Dollars)		$ 4,446,163			$ 9,058,701			$ 1,844,377		$ 6,674,772		$ 8,305,222

Equity (Details) - Schedule of

Equity (Details) - Schedule of estimate the fair value of stock options - USD ($)	1 Months Ended
	Dec. 31, 2022	May 31, 2022	Jan. 31, 2022	May 31, 2021
Options Granted [Member]
Equity (Details) - Schedule of estimate the fair value of stock options [Line Items]
Risk-free interest rate				0.81%
Expected life of the options				5 years
Expected volatility				96%
Expected dividend yield
Fair value (in Dollars)				$ 7,232,526
Options Amended [Member]
Equity (Details) - Schedule of estimate the fair value of stock options [Line Items]
Risk-free interest rate	4.44%	0.81%	1.66%
Expected life of the options	3 years 5 months 4 days	4 years 10 days	4 years 3 months 29 days
Expected volatility	96%	96%	96%
Expected dividend yield
Fair value (in Dollars)	$ 689,971	$ 1,652,811	$ 2,106,163

Equity (Details) - Schedule o_2

Equity (Details) - Schedule of stock options - Stock option [Member] - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity (Details) - Schedule of stock options [Line Items]
Number of Share Options, Outstanding begining	8,897,354	1,350,500	1,350,500
Weighted Average Exercise Price, Outstanding begining (in Dollars per share)	$ 1.74	$ 4.72	$ 4.72
Weighted Average Remaining Contractual Term, Outstanding begining			5 years 4 months 13 days
Aggregate Intrinsic Value, Outstanding beginning (in Dollars)
Number of Share Options, Granted		7,604,964
Weighted Average Exercise Price, Granted (in Dollars per share)		$ 1.22
Weighted Average Remaining Contractual Term, Granted
Aggregate Intrinsic Value, Granted (in Dollars)
Number of Share Options, Exercised		(58,110)
Number of Share Options, Expired, forfeited or cancelled	(1,050,500)
Weighted Average Exercise Price, Expired, forfeited or cancelled (in Dollars per share)	$ 4.72
Weighted Average Remaining Contractual Term, Expired, forfeited or cancelled
Aggregate Intrinsic Value, Expired, forfeited or cancelled (in Dollars)
Number of Share Options, Outstanding ending	7,846,854	8,897,354	1,350,500
Weighted Average Exercise Price, Outstanding ending (in Dollars per share)	$ 1.3	$ 1.74	$ 4.72
Weighted Average Remaining Contractual Term, Outstanding ending	3 years 5 months 26 days	4 years 2 months 23 days	4 years 4 months 13 days
Aggregate Intrinsic Value, Outstanding ending (in Dollars)
Number of Share Options, Exercisable	7,846,854
Weighted Average Exercise Price, Exercisable (in Dollars per share)	$ 1.3
Weighted Average Remaining Contractual Term, Exercisable	3 years 5 months 26 days
Aggregate Intrinsic Value, Exercisable (in Dollars)

Commitments and Contingencies (

Commitments and Contingencies (Details)					1 Months Ended
	Mar. 06, 2023 USD ($)	Mar. 06, 2023 CNY (¥)	Jan. 10, 2023 USD ($)	Jan. 10, 2023 CNY (¥)	Apr. 28, 2022 USD ($)	Apr. 28, 2022 CNY (¥)
Commitments and Contingencies Disclosure [Abstract]
Debt dispute	$ 69,159	¥ 477,001			$ 71,282	¥ 491,647
Payments of debt			$ 71,282	¥ 491,647

Segment Reporting (Details)

Segment Reporting (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting [Abstract]
Number of operating segment	1
Application development service revenue	$ 2,609,531	$ 14,472,010	$ 6,299,982

Segment Reporting (Details) - S

Segment Reporting (Details) - Schedule of revenues - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
REVENUES:
Application development services	[1]	$ 3,847,199	$ 20,323,422	$ 21,985,214
Consulting and technical support services		2,538,500	4,555,352	3,797,354
Subscription services		758,526	936,913	881,443
Trading revenue		3,338,584	6,277,141
Total revenues		$ 10,482,809	$ 32,092,828	$ 26,664,011
[1] For the years ended December 31, 2022, 2021 and 2020, certain application development service arrangements included sales of IT equipment. Such revenue of $2,609,531, $14,472,010 and $6,299,982 was included in the application development service revenue for years ended December 31,2022, 2021 and 2020, respectively.

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]				1 Months Ended	3 Months Ended
	Mar. 28, 2023 USD ($) shares	Jan. 19, 2023 USD ($)	Jan. 05, 2023 shares	Mar. 21, 2023 CNY (¥) shares	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 24, 2023	Mar. 14, 2023 USD ($)	Mar. 09, 2023	Jan. 18, 2023	Jan. 16, 2023 USD ($)
Subsequent Events (Details) [Line Items]
Price percentage			90%
Ordinary shares issued (in Shares) | shares			114,899,222	167,592,318
Aggregate of shares issued (in Shares) | shares	276,448,625
Principal amount (in Dollars)		$ 1,449,864			$ 26,849,931		$ 204,758			$ 520,174
Fixed annual interest rate		4.20%					4.20%			4.20%
Fixed asset (in Dollars)		$ 2.4
Ordinary shares par value (in Dollars per share) | $ / shares					$ 0.00166667
Smartconn [Member]
Subsequent Events (Details) [Line Items]
Percentage of equity shares			31%						19.99%
Boxinru Ltd [Member]
Subsequent Events (Details) [Line Items]
Percentage of equity shares	65%
Hunan Poweverse Digital Co Ltd [Member]
Subsequent Events (Details) [Line Items]
Percentage of equity shares								51%
DTI [Member]
Subsequent Events (Details) [Line Items]
Consideration amount | ¥				¥ 96.7
Boxinru Ltd [Member]
Subsequent Events (Details) [Line Items]
Consideration amount	$ 25,800,000
Long-Term Debt [Member] | Smartconn [Member]
Subsequent Events (Details) [Line Items]
Percentage of equity shares			50.99%
Long-Term Debt [Member] | DTI [Member]
Subsequent Events (Details) [Line Items]
Percentage of equity shares				51%
Long-Term Debt [Member] | Boxinru Ltd [Member]
Subsequent Events (Details) [Line Items]
Percentage of equity shares	100%
Equity Transfer Agreement [Member] | DTI [Member]
Subsequent Events (Details) [Line Items]
Percentage of equity shares				32%		19%
White Lion [Member]
Subsequent Events (Details) [Line Items]
Ordinary shares issued (in Shares) | shares					5,000,000
Amount received (in Dollars)					$ 500,000
YA II PN, Ltd [Member]
Subsequent Events (Details) [Line Items]
Ordinary shares issued (in Shares) | shares					26,235,245
Amount received (in Dollars)					$ 2,800,000
TBS [Member]
Subsequent Events (Details) [Line Items]
Ordinary shares issued (in Shares) | shares					6,250,000
Amount received (in Dollars)					$ 500,000
Convertible note [Member]
Subsequent Events (Details) [Line Items]
Convertible notes principal amount (in Dollars)					$ 2,427,582