Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2022 | Nov. 14, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2022 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 001-39732 | |
Entity Registrant Name | Alset Inc. | |
Entity Central Index Key | 0001750106 | |
Entity Tax Identification Number | 83-1079861 | |
Entity Incorporation, State or Country Code | TX | |
Entity Address, Address Line One | 4800 Montgomery Lane | |
Entity Address, Address Line Two | Suite 210 | |
Entity Address, City or Town | Bethesda | |
Entity Address, State or Province | MD | |
Entity Address, Postal Zip Code | 20814 | |
City Area Code | 301 | |
Local Phone Number | 971-3940 | |
Title of 12(b) Security | Common Stock, $0.001 par value | |
Trading Symbol | AEI | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 148,507,188 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Cash | $ 22,605,541 | $ 56,061,309 |
Restricted Cash | 630,285 | 4,740,870 |
Account Receivables, Net | 171,380 | 39,622 |
Other Receivables | 401,405 | 334,788 |
Note Receivables - Related Parties | 2,674,074 | 12,792,671 |
Prepaid Expense | 206,344 | 1,202,451 |
Inventory | 36,410 | 47,290 |
Investment in Securities at Fair Value | 30,684,973 | 36,337,023 |
Investment in Securities at Cost | 98,129 | 99,216 |
Investment in Securities at Equity Method | 52,830,182 | 30,801,129 |
Deposit | 275,204 | |
Total Current Assets | 110,338,723 | 142,731,573 |
Real Estate | ||
Rental Properties | 31,485,036 | 24,820,253 |
Properties under Development | 20,098,778 | 15,695,127 |
Operating Lease Right-Of-Use Asset | 1,265,171 | 659,620 |
Deposit | 387,118 | 39,653 |
Property and Equipment, Net | 1,089,680 | 263,917 |
Total Assets | 164,664,506 | 184,210,143 |
Current Liabilities: | ||
Accounts Payable and Accrued Expenses | 3,555,619 | 11,341,789 |
Deferred Revenue | 65,091 | 728,343 |
Builder Deposits | 31,553 | |
Operating Lease Liability | 619,355 | 283,989 |
Notes Payable | 193,645 | 317,671 |
Notes Payable - Related Parties | 12,088 | 833,658 |
Total Current Liabilities | 4,445,798 | 13,537,003 |
Long-Term Liabilities: | ||
Operating Lease Liability | 658,802 | 383,354 |
Total Liabilities | 5,104,600 | 13,920,357 |
Stockholders' Equity: | ||
Preferred Stock, $0.001 par value; 25,000,000 shares authorized, none issued and outstanding | ||
Common Stock, $0.001 par value; 250,000,000 shares authorized; 148,507,188 and 87,368,446 shares issued and outstanding on September 30, 2022 and December 31, 2021, respectively | 148,507 | 87,368 |
Additional Paid in Capital | 322,318,500 | 296,181,977 |
Accumulated Deficit | (175,407,945) | (148,233,473) |
Accumulated Other Comprehensive Income | 485,331 | 341,646 |
Total Alset Inc. Stockholders' Equity | 147,544,393 | 148,377,518 |
Non-controlling Interests | 12,015,513 | 21,912,268 |
Total Stockholders' Equity | 159,559,906 | 170,289,786 |
Total Liabilities and Stockholders' Equity | $ 164,664,506 | $ 184,210,143 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 25,000,000 | 25,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 148,507,188 | 87,368,446 |
Common stock, shares outstanding | 148,507,188 | 87,368,446 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Revenue | ||||
Total Revenue | $ 721,905 | $ 4,795,567 | $ 3,600,482 | $ 16,945,913 |
Operating Expenses | ||||
Cost of Sales | 813,369 | 2,204,401 | 2,478,596 | 8,510,205 |
General and Administrative | 1,979,548 | 2,539,584 | 6,500,701 | 13,466,414 |
Total Operating Expenses | 2,792,917 | 4,743,985 | 8,979,297 | 21,976,619 |
Operating Losses from Operations | (2,071,012) | 51,582 | (5,378,815) | (5,030,706) |
Other Income (Expense) | ||||
Interest Income | (319,768) | 22,614 | 49,271 | 78,902 |
Interest Expense | (330) | (316,615) | ||
Foreign Exchange Transaction Gain (Loss) | 132,092 | (578,903) | 2,617,896 | 1,842,128 |
Unrealized Loss on Securities Investment | (11,006,833) | (5,268,531) | (21,773,223) | (35,972,445) |
Realized Loss on Securities Investment | (145,122) | (2,515,949) | (6,500,573) | (2,218,988) |
(Loss) Gain on Investment on Security by Equity Method | (171,385) | 189,696 | (387,435) | 87,390 |
Finance Costs | 887 | (27,798) | (450,000) | (50,871,869) |
Other Income | 346,591 | 53,135 | 897,129 | 77,591 |
Total Other Expense, Net | (11,163,538) | (8,126,066) | (25,546,935) | (87,293,906) |
Net Loss Income Before Income Taxes | (13,234,550) | (8,074,484) | (30,925,750) | (92,324,612) |
Income Tax Benefit (Expense) | 153,159 | (68,955) | (446,757) | |
Net Loss | (13,081,391) | (8,074,484) | (30,994,705) | (92,771,369) |
Net Loss Attributable to Non-Controlling Interest | (1,369,265) | (964,347) | (3,827,934) | (12,771,919) |
Net Loss Attributable to Common Stockholders | (11,712,126) | (7,110,137) | (27,166,771) | (79,999,450) |
Other Comprehensive Loss, Net | ||||
Unrealized Gain (Loss) on Securities Investment | 49,915 | (19,060) | 40,201 | (56,969) |
Foreign Currency Translation Adjustment | 434,011 | (1,238,356) | (3,729,724) | (4,077,987) |
Comprehensive Loss | (12,597,465) | (9,331,900) | (34,684,228) | (96,906,325) |
Comprehensive Loss Attributable to Non-controlling Interests | (1,183,223) | (1,350,889) | (4,554,792) | (14,264,651) |
Comprehensive Loss Attributable to Common Stockholders | $ (11,414,242) | $ (7,981,011) | $ (30,129,436) | $ (82,641,674) |
Net Loss Per Share - Basic and Diluted | $ (0.08) | $ (0.19) | $ (0.22) | $ (4.14) |
Weighted Average Common Shares Outstanding - Basic and Diluted | 148,507,188 | 38,030,098 | 124,122,891 | 19,785,922 |
Rental [Member] | ||||
Revenue | ||||
Total Revenue | $ 569,791 | $ 133,302 | $ 1,206,273 | $ 155,249 |
Property [Member] | ||||
Revenue | ||||
Total Revenue | 3,414,094 | 1,288,434 | 11,870,820 | |
Biohealth [Member] | ||||
Revenue | ||||
Total Revenue | 22,154 | 1,248,171 | 771,847 | 4,919,844 |
Digital Transformation Technology [Member] | ||||
Revenue | ||||
Total Revenue | 6,365 | 14,066 | ||
Other [Member] | ||||
Revenue | ||||
Total Revenue | $ 123,595 | $ 319,862 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Preferred Stock [Member] Series A Preferred Stock [Member] | Preferred Stock [Member] Series B Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Beginning balance, value at Dec. 31, 2020 | $ 8,570 | $ 102,729,944 | $ 2,143,338 | $ (44,910,297) | $ 59,971,555 | $ 38,023,260 | $ 97,994,815 | ||
Beginning balance, shares at Dec. 31, 2020 | 8,570,000 | ||||||||
Beneficial Conversion Feature Intrinsic Value, Net | 50,770,192 | 50,770,192 | 50,770,192 | ||||||
Change in Non-Controlling Interest | 76,412 | (39,067) | 37,345 | (37,345) | |||||
Change in Unrealized Gain (Loss) on Investment | (1,135) | (1,135) | (852) | (1,987) | |||||
Foreign Currency Translations | (1,010,527) | (1,010,527) | (758,913) | (1,769,440) | |||||
Net Loss | (6,238,449) | (6,238,449) | (3,569,112) | (9,807,561) | |||||
Issuance of Stock for Services | $ 10 | 60,890 | 60,900 | 60,900 | |||||
Issuance of Stock for Services, shares | 10,000 | ||||||||
Transactions under Common Control | (57,190,499) | (57,190,499) | (57,190,499) | ||||||
Sale of Vivacitas to Related Party | 2,279,872 | 2,279,872 | 2,279,872 | ||||||
Purchase Stock of True Partner from Related Party | 3,274,060 | 3,274,060 | 3,274,060 | ||||||
Subsidiary's Issuance of Stock | 46,099 | 46,099 | 34,677 | 80,776 | |||||
Proceeds from Selling Subsidiary Equity | 142,675 | 142,675 | 107,325 | 250,000 | |||||
Distribution to Non-Controlling Shareholders | (82,250) | (82,250) | |||||||
Ending balance, value at Mar. 31, 2021 | $ 8,580 | 102,189,645 | 1,092,609 | (51,148,746) | 52,142,088 | 33,716,790 | 85,858,878 | ||
Ending balance, shares at Mar. 31, 2021 | 8,580,000 | ||||||||
Beginning balance, value at Dec. 31, 2020 | $ 8,570 | 102,729,944 | 2,143,338 | (44,910,297) | 59,971,555 | 38,023,260 | 97,994,815 | ||
Beginning balance, shares at Dec. 31, 2020 | 8,570,000 | ||||||||
Net Loss | (92,771,369) | ||||||||
Ending balance, value at Sep. 30, 2021 | $ 45,722 | 266,633,480 | (1,002,212) | (124,909,747) | 140,767,243 | 25,139,975 | 165,907,218 | ||
Ending balance, shares at Sep. 30, 2021 | 45,721,779 | ||||||||
Beginning balance, value at Mar. 31, 2021 | $ 8,580 | 102,189,645 | 1,092,609 | (51,148,746) | 52,142,088 | 33,716,790 | 85,858,878 | ||
Beginning balance, shares at Mar. 31, 2021 | 8,580,000 | ||||||||
Change in Non-Controlling Interest | (2,885,117) | (343,225) | (3,228,342) | 3,228,342 | |||||
Change in Unrealized Gain (Loss) on Investment | (25,663) | (25,663) | (10,259) | (35,922) | |||||
Foreign Currency Translations | (764,544) | (764,544) | (305,647) | (1,070,191) | |||||
Net Loss | (66,650,864) | (66,650,864) | (8,238,460) | (74,889,324) | |||||
Issuance of Common Stock | $ 8,389 | 39,260,191 | 39,268,580 | 39,268,580 | |||||
Issuance of Common Stock, shares | 8,389,324 | ||||||||
Proceeds from Selling Subsidiary Equity | 21,432 | 21,432 | 8,568 | 30,000 | |||||
Distribution to Non-Controlling Shareholders | (1,069,250) | (1,069,250) | |||||||
Change Common stock to Series A Preferred Stock | $ 6 | $ (6,380) | 6,374 | ||||||
Change Common stock to Series A Preferred Stock, shares | 6,380 | (6,380,000) | |||||||
Issuance of Series B Preferred Stock | $ 2 | 12,999,998 | 13,000,000 | 13,000,000 | |||||
Issuance of Series B Preferred Stock, shares | 2,132 | ||||||||
Convert Preferred Stock Series A and B to Common | $ (6) | $ (2) | $ 8,512 | (8,503) | |||||
Convert Preferred Stock Series A and B to Common, shares | (6,380) | (2,132) | 8,512,000 | ||||||
Convertible Note to Stock | $ 9,164 | 51,217,402 | 51,226,566 | 51,226,566 | |||||
Convertible Note to Stock, shares | 9,163,965 | ||||||||
Subsidiary's Issuance of Stock | 1,961,349 | 1,961,349 | 784,100 | 2,745,449 | |||||
Ending balance, value at Jun. 30, 2021 | $ 28,265 | 204,762,770 | (40,823) | (117,799,610) | 86,950,602 | 28,114,184 | 115,064,786 | ||
Ending balance, shares at Jun. 30, 2021 | 28,265,289 | ||||||||
Change in Non-Controlling Interest | (910,067) | (17,070) | (927,137) | (1,272,853) | (2,199,990) | ||||
Change in Unrealized Gain (Loss) on Investment | (14,314) | (14,314) | (4,746) | (19,060) | |||||
Foreign Currency Translations | (930,005) | (930,005) | (308,351) | (1,238,356) | |||||
Net Loss | (7,110,137) | (7,110,137) | (964,347) | (8,074,484) | |||||
Issuance of Common Stock | $ 17,457 | 33,871,847 | 33,889,304 | 33,889,304 | |||||
Issuance of Common Stock, shares | 17,456,490 | ||||||||
Distribution to Non-Controlling Shareholders | (246,750) | (246,750) | |||||||
Subsidiary's Issuance of Stock | 166,655 | 166,655 | 55,256 | 221,911 | |||||
Deconsolidate American Pacific Bancorp Inc. | 28,287,920 | 28,287,920 | (383,063) | 27,904,857 | |||||
Exercise American Premium Water Corp. Warrant to Purchase Stock | 454,355 | 454,355 | 150,645 | 605,000 | |||||
Ending balance, value at Sep. 30, 2021 | $ 45,722 | 266,633,480 | (1,002,212) | (124,909,747) | 140,767,243 | 25,139,975 | 165,907,218 | ||
Ending balance, shares at Sep. 30, 2021 | 45,721,779 | ||||||||
Beginning balance, value at Dec. 31, 2021 | $ 87,368 | 296,181,977 | 341,646 | (148,233,473) | 148,377,518 | 21,912,268 | 170,289,786 | ||
Beginning balance, shares at Dec. 31, 2021 | 87,368,446 | ||||||||
Issuance of Stock by Exercising Warrants | $ 15,820 | (11,925) | 3,895 | 3,895 | |||||
Issuance of Stock by Exercising Warrants, shares | 15,819,452 | ||||||||
Convert Related Party Note to Common Stock | $ 10,000 | 6,203,000 | 6,213,000 | 6,213,000 | |||||
Convert Related Party Note to Common Stock, shares | 10,000,000 | ||||||||
Deconsolidate Alset Capital Acquisition | 17,160,800 | 17,160,800 | 2,227,744 | 19,388,544 | |||||
Gain from Purchase of DSS Stock | 737,572 | 737,572 | 737,572 | ||||||
Beneficial Conversion Feature Intrinsic Value, Net | 450,000 | 450,000 | 450,000 | ||||||
Change in Non-Controlling Interest | (316,459) | 459,069 | 142,610 | (142,610) | |||||
Change in Unrealized Gain (Loss) on Investment | (7,027) | (7,027) | (2,096) | (9,123) | |||||
Foreign Currency Translations | (499,967) | (499,967) | (149,173) | (649,140) | |||||
Net Loss | (6,467,286) | (6,467,286) | (1,463,167) | (7,930,453) | |||||
Ending balance, value at Mar. 31, 2022 | $ 113,188 | 320,404,965 | 293,721 | (154,700,759) | 166,111,115 | 22,382,966 | 188,494,081 | ||
Ending balance, shares at Mar. 31, 2022 | 113,187,898 | ||||||||
Beginning balance, value at Dec. 31, 2021 | $ 87,368 | 296,181,977 | 341,646 | (148,233,473) | 148,377,518 | 21,912,268 | 170,289,786 | ||
Beginning balance, shares at Dec. 31, 2021 | 87,368,446 | ||||||||
Net Loss | (30,994,705) | ||||||||
Distribution to Non-Controlling Shareholders | (1,398,250) | ||||||||
Ending balance, value at Sep. 30, 2022 | $ 148,507 | 322,318,500 | 485,331 | (175,407,945) | 147,544,393 | 12,015,513 | 159,559,906 | ||
Ending balance, shares at Sep. 30, 2022 | 148,507,188 | ||||||||
Beginning balance, value at Mar. 31, 2022 | $ 113,188 | 320,404,965 | 293,721 | (154,700,759) | 166,111,115 | 22,382,966 | 188,494,081 | ||
Beginning balance, shares at Mar. 31, 2022 | 113,187,898 | ||||||||
Change in Non-Controlling Interest | 4,557,454 | 3,266,996 | 7,824,450 | (7,824,450) | |||||
Change in Unrealized Gain (Loss) on Investment | (505) | (505) | (86) | (591) | |||||
Foreign Currency Translations | (3,002,167) | (3,002,167) | (512,428) | (3,514,595) | |||||
Net Loss | (8,987,359) | (8,987,359) | (995,502) | (9,982,861) | |||||
Issuance of Common Stock | $ 35,319 | (35,319) | |||||||
Issuance of Common Stock, shares | 35,319,290 | ||||||||
Change in Valuation on Investment | (2,624,585) | (2,624,585) | (206,377) | (2,830,962) | |||||
Ending balance, value at Jun. 30, 2022 | $ 148,507 | 322,302,515 | 558,045 | (163,688,118) | 159,320,949 | 12,844,123 | 172,165,072 | ||
Ending balance, shares at Jun. 30, 2022 | 148,507,188 | ||||||||
Change in Non-Controlling Interest | 15,985 | (486,134) | (470,149) | 470,149 | |||||
Change in Unrealized Gain (Loss) on Investment | 42,642 | 42,642 | 7,273 | 49,915 | |||||
Foreign Currency Translations | 370,778 | 370,778 | 63,233 | 434,011 | |||||
Net Loss | (11,719,827) | (11,719,827) | (1,369,265) | (13,089,092) | |||||
Ending balance, value at Sep. 30, 2022 | $ 148,507 | $ 322,318,500 | $ 485,331 | $ (175,407,945) | $ 147,544,393 | $ 12,015,513 | $ 159,559,906 | ||
Ending balance, shares at Sep. 30, 2022 | 148,507,188 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Cash Flows from Operating Activities | |||||||
Net Loss from Operations | $ (13,089,092) | $ (7,930,453) | $ (8,074,484) | $ (9,807,561) | $ (30,994,705) | $ (92,771,369) | |
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: | |||||||
Depreciation | 533,820 | 85,354 | |||||
Amortization of Right-Of-Use Asset | 529,418 | 284,730 | |||||
Amortization of Debt Discount | 450,000 | 50,871,869 | |||||
Shared-based Compensation & Expense | 134,192 | ||||||
Impairment of Promissory Note | 421,754 | ||||||
Foreign Exchange Transaction Gain | (2,617,896) | (1,842,128) | |||||
Unrealized Loss on Securities Investment | 21,773,223 | 35,972,445 | |||||
Realized Loss on Securities Investment | 6,500,573 | 2,218,988 | |||||
Loss on Exchange of Investment Securities | 446,104 | ||||||
PPP Loan Forgiveness | (68,502) | ||||||
Director Compensation Adjustment | (1,185,251) | ||||||
Loss (Gain) on Equity Method Investment | 387,435 | (87,390) | |||||
Changes in Operating Assets and Liabilities | |||||||
Real Estate | (5,420,208) | 4,878,334 | |||||
Account Receivables | (198,375) | (767,987) | |||||
Prepaid Expense | 830,294 | (8,412) | |||||
Trading Securities | (7,466,912) | (2,419,797) | |||||
Inventory | 10,880 | 37,368 | |||||
Accounts Payable and Accrued Expenses | (8,845,706) | (1,217,298) | |||||
Other Receivable - Related Parties | (1,746,279) | ||||||
Accrued Interest - Related Parties | 306,438 | ||||||
Deferred Revenue | (663,252) | (1,302,086) | |||||
Operating Lease Liability | (554,937) | (263,584) | |||||
Builder Deposits | (31,553) | (1,017,400) | |||||
Net Cash Used in Operating Activities | (28,331,829) | (6,485,979) | |||||
Cash Flows from Investing Activities | |||||||
Loan Receivable - Related Party | 694,878 | ||||||
Purchase of Fixed Assets | (210,319) | (220,712) | |||||
Purchase of Real Estate Properties | (6,057,493) | (11,081,491) | |||||
Real Estate Improvements | (1,082,225) | ||||||
Purchase of Investment Securities | (8,479,968) | (19,308,318) | |||||
Proceeds from Investment Securities | 103,809 | 110,718 | |||||
Sales of Investment Securities to Related Party | 2,480,000 | ||||||
Cash Loss of Deconsolidation of American Pacific Bancorp Inc. | (1,235,953) | ||||||
Issuing Loan Receivable - Related Party | (327,603) | ||||||
Proceeds from Loan Receivable - Related Party | 840,000 | ||||||
Net Cash Used in Investing Activities | (15,031,318) | (28,743,359) | |||||
Cash Flows from Financing Activities | |||||||
Proceeds from Common Stock Issuance | 6,213,000 | 73,157,884 | |||||
Proceeds from Exercise of Subsidiary Warrants | 2,975,194 | ||||||
Proceeds from Sale of Subsidiary Shares | 280,000 | ||||||
Dividend Paid on Subsidiary Preferred Stock | (73,750) | ||||||
Borrowing from PPP Loan | 68,502 | ||||||
Distribution to Non-controlling Interest Shareholders | (1,398,250) | ||||||
Repayment to Notes Payable | (216,867) | (695,635) | |||||
Proceeds from Note Payable - Related Parties | 5,545,495 | ||||||
Repayment to Notes Payable - Related Parties | (2,622,400) | ||||||
Net Cash Provided by Financing Activities | 5,996,133 | 77,237,040 | |||||
Net (Decrease) Increase in Cash and Restricted Cash | (37,367,014) | 42,007,702 | |||||
Effects of Foreign Exchange Rates on Cash | (199,339) | (802,048) | |||||
Cash and Restricted Cash - Beginning of Year | $ 60,802,179 | $ 31,735,479 | 60,802,179 | 31,735,479 | $ 31,735,479 | ||
Cash and Restricted Cash- End of Period | 23,235,826 | 72,941,133 | 23,235,826 | 72,941,133 | 60,802,179 | ||
Cash | 22,605,541 | 67,944,590 | 22,605,541 | 67,944,590 | $ 56,061,309 | ||
Restricted Cash | 630,285 | 4,996,543 | 630,285 | 4,996,543 | |||
Total Cash and Restricted Cash | $ 23,235,826 | $ 72,941,133 | 23,235,826 | 72,941,133 | |||
Supplementary Cash Flow Information | |||||||
Cash Paid for Interest | 2,420 | 17,659 | |||||
Cash Paid for Taxes | 446,757 | ||||||
Supplemental Disclosure of Non-Cash Investing and Financing Activities | |||||||
Unrealized Gain (Loss) on Investment | 777,773 | (56,969) | |||||
Initial Recognition of ROU / Lease Liability | 1,134,969 | 256,928 | |||||
Acquiring True Partner Stock | 10,003,689 | ||||||
Sale of Investment in Vivacitas to Related Party | 2,279,872 | ||||||
Deconsolidate Alset Capital Acquisition | 16,557,582 | ||||||
Intrinsic Value of BCF | 450,000 | (50,770,192) | |||||
Issuance of Stock by Exercising Warrants | 3,895 | ||||||
Transactions under Common Control | 57,190,499 | ||||||
Convert Related Party Note Payable to Common Stock | 6,213,000 | 64,226,566 | |||||
American Pacific Bancorp Inc. Deconsolidation | 27,904,857 | ||||||
Gain from Exercise of American Premium Water Warrant | 605,000 | ||||||
Purchase of Fixed Asset with Promissory Note | $ 95,000 |
NATURE OF OPERATIONS AND SUMMAR
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations Alset Inc. (the “Company” or “AEI”), formerly known as Alset EHome International Inc. and HF Enterprises Inc., was incorporated in the State of Delaware on March 7, 2018 and 1,000 The Company has four operating segments based on the products and services we offer, which include three of our principal businesses – real estate, digital transformation technology and biohealth – as well as a fourth category consisting of certain other business activities. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The Company’s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and following the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. These interim financial statements have been prepared on the same basis as the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair statement of the Company’s financial information. These interim results are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or any other interim periods or for any other future years. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s Form 10-K for the year ended December 31, 2021 filed on March 31, 2022. The condensed consolidated financial statements include all accounts of the Company and its majority owned and controlled subsidiaries. The Company consolidates entities in which it owns more than 50% of the voting common stock and controls operations. All intercompany transactions and balances among consolidated subsidiaries have been eliminated. The Company’s condensed consolidated financial statements include the financial position, results of operations and cash flows of the following entities as of September 30, 2022 and December 31, 2021, as follows: SCHEDULE OF SUBSIDIARIES Attributable interest as of, Name of subsidiary consolidated under AEI State or other jurisdiction of incorporation or organization September 30, 2022 December 31, 2021 % % Alset Global Pte. Ltd. Singapore 100 100 Alset Business Development Pte. Ltd. Singapore 100 100 Global eHealth Limited Hong Kong 100 100 Alset International Limited Singapore 85.4 76.8 Singapore Construction & Development Pte. Ltd. Singapore 85.4 76.8 Art eStudio Pte. Ltd. Singapore 43.6 * 39.2 * Singapore Construction Pte. Ltd. Singapore 85.4 76.8 Global BioMedical Pte. Ltd. Singapore 85.4 76.8 Alset Innovation Pte. Ltd. Singapore 85.4 76.8 Health Wealth Happiness Pte. Ltd. Singapore 85.4 76.8 SeD Capital Pte. Ltd. Singapore 85.4 76.8 LiquidValue Asset Management Pte. Ltd. Singapore 85.4 76.8 Alset Solar Limited Hong Kong 85.4 76.8 Alset F&B One Pte. Ltd Singapore 76.9 69.2 Global TechFund of Fund Pte. Ltd. Singapore 100 76.8 Singapore eChainLogistic Pte. Ltd. Singapore 100 76.8 BMI Capital Partners International Limited. Hong Kong 85.4 76.8 SeD Perth Pty. Ltd. Australia 85.4 76.8 SeD Intelligent Home Inc. United States of America 85.4 76.8 LiquidValue Development Inc. United States of America 85.4 76.8 Alset EHome Inc. United States of America 85.4 76.8 SeD USA, LLC United States of America 85.4 76.8 150 Black Oak GP, Inc. United States of America 85.4 76.8 SeD Development USA Inc. United States of America 85.4 76.8 150 CCM Black Oak, Ltd. United States of America 85.4 76.8 SeD Texas Home, LLC United States of America 85.4 76.8 SeD Ballenger, LLC United States of America 85.4 76.8 SeD Maryland Development, LLC United States of America 71.4 64.2 SeD Development Management, LLC United States of America 72.6 65.3 SeD Builder, LLC United States of America 85.4 76.8 GigWorld Inc. United States of America 100 76.6 HotApp BlockChain Pte. Ltd. Singapore 100 76.6 HotApp International Limited Hong Kong 100 76.6 HWH International, Inc. (Delaware) United States of America 85.4 76.8 Health Wealth & Happiness Inc. United States of America 85.4 76.8 HWH Multi-Strategy Investment, Inc. United States of America 85.4 76.8 SeD REIT Inc. United States of America 85.4 76.8 Gig Stablecoin Inc. United States of America 100 76.6 HWH World Inc. (Delaware) United States of America 100 76.6 HWH World Pte. Ltd. Singapore 85.4 76.6 UBeauty Limited Hong Kong 85.4 76.8 WeBeauty Korea Inc Korea 85.4 76.8 HWH World Limited Hong Kong 85.4 76.8 HWH World Inc. Korea 85.4 76.8 Alset BioHealth Pte. Ltd. Singapore - 76.8 Alset Energy Pte. Ltd. Singapore - 76.8 GDC REIT Inc. (f.k.a. Alset Payment Inc.) United States of America 85.4 76.8 Alset World Pte. Ltd. Singapore - 76.8 BioHealth Water Inc. United States of America 85.4 76.8 Impact BioHealth Pte. Ltd. Singapore 85.4 76.8 American Home REIT Inc. United States of America 85.4 76.8 Alset Solar Inc. United States of America 68.3 61.5 HWH KOR Inc. United States of America 85.4 76.8 Open House Inc. United States of America 100 76.8 Open Rental Inc. United States of America 100 76.8 Hapi Cafe Inc. (Nevada) United States of America 100 76.8 Global Solar REIT Inc. United States of America 100 76.8 OpenBiz Inc. United States of America 100 76.8 Hapi Cafe Inc. (Texas) United States of America 85.4 100 HWH (S) Pte. Ltd. Singapore 85.4 76.8 True Partner International Limited Hong Kong - 100 LiquidValue Development Pte. Ltd. Singapore 100 100 LiquidValue Development Limited Hong Kong 100 100 EPowerTech Inc. United States of America 100 100 Alset EPower Inc. United States of America 100 100 AHR Asset Management Inc. United States of America 85.4 76.8 HWH World Inc. (Nevada) United States of America 85.4 76.8 Alset F&B Holdings Pte. Ltd. Singapore 85.4 76.8 Credas Capital Pte. Ltd. Singapore 42.7 * 38.4 * Credas Capital GmbH Switzerland 42.7 * 38.4 * Smart Reward Express Limited Hong Kong 50.0 38.3 * AHR Texas Two LLC United States of America 85.4 76.8 AHR Black Oak One LLC United States of America 85.4 76.8 Hapi Air Inc. United States of America 92.7 88.4 AHR Texas Three, LLC United States of America 85.4 76.8 Alset Capital Pte. Ltd. Singapore 100 100 Hapi Cafe Korea, Inc. Korea 85.4 100 Green Energy Inc. United States of America 100 100 Green Energy Management Inc. United States of America 100 100 Alset Metaverse Inc. United States of America 97.2 95.6 Alset Management Group Inc. United States of America 83.4 88.2 Alset Acquisition Sponsor, LLC United States of America 93.4 79.6 Alset Capital Acquisition Corp. United States of America 23.4 79.6 Alset Spac Group Inc. United States of America 93.4 79.6 Alset Mining Pte. Ltd. Singapore 85.4 - Alset Inc. United States of America 100 - Hapi Travel Pte. Ltd. Singapore 85.4 - Hapi WealthBuilder Pte. Ltd. Singapore 85.4 - HWH Marketplace Pte. Ltd. Singapore 85.4 - HWH International Inc. (Nevada) United States of America 85.4 - Hapi Cafe SG Pte. Ltd. Singapore 85.4 - Alset Reits Inc. United States of America 100 - Robotic gHome Inc. United States of America 76.9 - HWH Merger Sub, Inc. United States of America 85.4 - Alset Home REIT Inc. United States of America 100 - * Although the Company indirectly holds percentage of shares of these entities less than 50%, the subsidiaries of the Company directly hold more than 50% of shares of these entities, and therefore, they are still consolidated into the Company. Use of Estimates The preparation of 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 disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates made by management include, but are not limited to, allowance for doubtful accounts, valuation of real estate assets, allocation of development costs and capitalized interest to sold lots, fair value of the investments, the valuation allowance of deferred taxes, and contingencies. Actual results could differ from those estimates. In our property development business, land acquisition costs are allocated to each lot based on the area method, the size of the lot compared to the total size of all lots in the project. Development costs and capitalized interest are allocated to lots sold based on the total expected development and interest costs of the completed project and allocating a percentage of those costs based on the selling price of the sold lot compared to the expected sales values of all lots in the project. If allocation of development costs and capitalized interest based on the projection and relative expected sales value is impracticable, those costs could also be allocated based on area method, the size of the lot compared to the total size of all lots in the project. Transactions between Entities under Common Control On March 12, 2021, the Company entered into a Securities Purchase Agreement (the “SPA”) with Chan Heng Fai, the founder, Chairman and Chief Executive Officer of the Company, for four proposed transactions, consisting of (i) purchase of certain warrants (the “Warrants”) to purchase 1,500,000,000 28,363,966 173,395 62,122,908 6,729,629 4,775,523 28,653,138 63,920,129 0.001 5.59 On October 15, 2020, American Pacific Bancorp (which subsequently became a majority-owned subsidiary of the Company) entered into an acquisition agreement to acquire 3,500,001 100 1,500,000 250,000 The common control transactions resulted in the following basis of accounting for the financial reporting periods: ● The acquisition of the Warrants and True Partner stock were accounted for prospectively as of March 12, 2021 and they did not represent a change in reporting entity. ● The acquisition of LVD, APB and HFL was under common control and was consolidated in accordance with ASC 850-50. The consolidated financial statements were retrospectively adjusted for the acquisition of LVD, APB and HFL, and the operating results of LVD, APB and HFL as of January 1, 2020 for comparative purposes. AEI’s stock price was $ 10.03 50,770,192 63,920,128 306,438 2,123 9,163,965 Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less at the date of acquisition to be cash equivalents. Cash and cash equivalents include cash on hand and at the bank and short-term deposits with financial institutions that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in values. There were no Restricted Cash As a condition to the loan agreement with the Manufacturers and Traders Trust Company (“M&T Bank”), the Company was required to maintain a minimum of $ 2,600,000 2,300,000 300,000 309,145 4,399,984 As a condition to the loan agreement with National Australian Bank Limited in conjunction with the Perth project, an Australian real estate development project, the Company was required to maintain Australian Dollar 50,000 36,316 The Company puts money into brokerage accounts specifically for equity investment. As of September 30, 2022 and December 31, 2021, the cash balance in these brokerage accounts was $ 321,140 304,570 Account Receivables and Allowance for Doubtful Accounts Account receivables is stated at amounts due from buyers, contractors, and all third parties, net of an allowance for doubtful accounts. As of September 30, 2022 and December 31, 2021, the balance of account receivables was $ 171,380 39,622 0 2,500 The Company monitors its account receivables balances on a monthly basis to ensure that they are collectible. On a quarterly basis, the Company uses its historical experience to estimate its allowance for doubtful account receivables. The Company’s allowance for doubtful accounts represents an estimate of the losses expected to be incurred based on specifically identified accounts as well as nonspecific amount, when determined appropriate. Generally, the amount of the allowance is primarily decided by division management’s historical experience, the delinquency trends, the resolution rates, the aging of receivables, the credit quality indicators and financial health of specific customers. As of September 30, 2022 and December 31, 2021, the allowance was $ 0 Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method and includes all costs in bringing the inventories to their present location and condition. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale. As of December 31, 2021, inventory consisted of finished goods from HWH World Inc. As of September 30, 2022, inventory consisted of finished goods from HWH World Inc. and Hapi Cafe Korea Inc. The Company continuously evaluates the need for reserve for obsolescence and possible price concessions required to write-down inventories to net realizable value. Investment Securities Investment Securities at Fair Value The Company records all equity investments with readily determinable fair values at fair value calculated by the publicly traded stock price at the close of the reporting period. Amarantus BioScience Holdings (“AMBS”) and True Partner Capital Holding Limited (“True Partner”) are publicly traded companies. The Company does not have significant influence over AMBS and True Partner, as the Company is the beneficial owner of approximately 4.3 15.5 On April 12, 2021 a subsidiary of the Company acquired 6,500,000 650,000 18.1 During the year ended December 31, 2021, the Company’s subsidiaries established a portfolio of trading securities. The objective is to generate profits on short-term differences in market prices. The Company does not have significant influence over any trading securities in our portfolio and fair value of these trading securities are determined by reference to quoted stock prices. The Company has elected the fair value option for the equity securities noted below that would otherwise be accounted for under the equity method of accounting. Holista CollTech Limited (“Holista”), DSS, Inc. (“DSS”) and American Premium Mining Corporation (“APM” formerly known as American Premium Water Corp.) are publicly traded companies and the fair value of such securities are determined by reference to quoted stock prices. The Company has significant influence but does not have a controlling interest in these investments, and therefore, the Company’s investment could be accounted for under the equity method of accounting or elect fair value accounting. ● The Company has significant influence over DSS. As of September 30, 2022 and December 31, 2021, the Company owned approximately 45.18 24.9 ● The Company has significant influence over Holista as the Company and its CEO are the beneficial owner of approximately 15.5 ● The Company has significant influence over APM as the Company is the beneficial owner of approximately 0.8 On March 2, 2020 and October 29, 2021, the Company received warrants to purchase shares of American Medical REIT Inc. (“AMRE”), a related party private company, in conjunction with the Company lending two $ 200,000 Note Receivable from a Related Party Company September 30, 2022 and December 31, 2021, AMRE was a private company. Based on management’s analysis, the fair value of the AMRE warrants was $ 0 15.8 The Company held a stock option to purchase 250,000 1 0 Sale of Investment in Vivacitas to DSS The Company accounts for certain of its investments in funds without readily determinable fair values in accordance with ASU No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) $ 100,000 74,827 On October 13, 2021 BMI Capital Partners International Limited (“BMI”) entered into loan agreement with Liquid Value Asset Management Limited (“LVAML”), a subsidiary of DSS, pursuant to which BMI agreed to lend $ 3,000,000 3,032,185 2,987,039 Investment Securities at Cost Investments in equity securities without readily determinable fair values are measured at cost minus impairment adjusted by observable price changes in orderly transactions for the identical or a similar investment of the same issuer. These investments are measured at fair value on a nonrecurring basis when there are events or changes in circumstances that may have a significant adverse effect. An impairment loss is recognized in the condensed consolidated statements of comprehensive income equal to the amount by which the carrying value exceeds the fair value of the investment. The Company had an equity holding in Vivacitas Oncology Inc. (“Vivacitas”), a private company that is currently not listed on an exchange. We measured Vivacitas at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. Our ownership in Vivacitas was sold on March 18, 2021 to DSS for $ 2,480,000 2,279,872 Sale of Investment in Vivacitas to DSS On September 8, 2020, the Company acquired 1,666 1.45 37,826 On September 30, 2020, the Company acquired 3,800 19 42,562 During 2021, the Company invested $ 19,609 18 There has been no indication of impairment or changes in observable prices via transactions of similar securities and investments are still carried at cost. Equity Method Investment The Company accounts for equity investment in entities with significant influence under equity-method accounting. Under this method, the Group’s pro rata share of income (loss) from investment is recognized in the condensed consolidated statements of comprehensive income. Dividends received reduce the carrying amount of the investment. When the Company’s share of loss in an equity-method investee equals or exceeds its carrying value of the investment in that entity, the equity method investment can be reduced below zero based on losses, if the Company either is liable for the obligations of the investee or provides for losses in excess of the investment when imminent return to profitable operations by the investee appears to be assured. Otherwise, the Company does not recognize its share of equity method losses exceeding its carrying amount of the investment, but discloses the losses in the footnotes. Equity-method investment is reviewed for impairment by assessing if the decline in market value of the investment below the carrying value is other-than-temporary. In making this determination, factors are evaluated in determining whether a loss in value should be recognized. These include consideration of the intent and ability of the Group to hold investment and the ability of the investee to sustain an earnings capacity, justifying the carrying amount of the investment. Impairment losses are recognized in other expense when a decline in value is deemed to be other-than-temporary. American Medical REIT Inc. LiquidValue Asset Management Pte. Ltd. (“LiquidValue”), a subsidiary of the Company, owns 15.8 September 30, 2022, a company concentrating on medical real estate. AMRE acquires state-of-the-art, purpose-built healthcare facilities and leases them to leading clinical operators with dominant market share under secure triple net leases. AMRE targets hospitals (both Critical Access and Specialty Surgical), Physician Group Practices, Ambulatory Surgical Centers, and other licensed medical treatment facilities. Chan Heng Fai, our Chairman and CEO, is the executive chairman and director of AMRE. DSS, of which we own 45.2% and have significant influence over, owns 80.8% of AMRE. Therefore, the Company has significant influence on AMRE. Joint Venture with Novum On April 20, 2021, one of Company’s indirect subsidiaries, SeD Capital Pte. Ltd. (“SeD Capital”), entered into a joint venture agreement with a digital asset management firm Novum Alpha Pte Ltd (“Novum”). Pursuant to this agreement, SeD Capital will own 50 50 American Pacific Bancorp, Inc. Pursuant to Securities Purchase Agreement from March 12, 2021 the Company purchased of 4,775,523 6,666,700 DSS, Inc. 40,000,200 As a result of the new share issuances, the Company’s ownership percentage of APB fell below 50% to 41.3% and the entity was deconsolidated in accordance with ASC 810-10. Upon deconsolidation the Company elected to apply the equity method accounting as the Company still retained significant influence. As a result of the deconsolidation, the Company recognized gain of approximately $ 28.2 30.8 2.6 2.9 51,999 419,005 579,026 31,380,155 30,801,129 Alset Capital Acquisition Corp. On February 3, 2022, Alset Capital Acquisition Corp. (“Alset Capital”), a special purpose acquisition company (SPAC) sponsored by the Company and certain affiliates, closed its initial public offering of 7,500,000 10.00 1,125,000 473,750 4,737,500 2,156,250 25,000 23.4 2,830,961 237,578 237,578 82,582 10 476,250 100 21,232,707 Ketomei Pte Ltd On June 10, 2021 the Company’s indirect subsidiary Hapi Cafe Inc. (“Hapi Cafe”) lent $ 76,723 179,595 28 5,937 38,996 217,321 Investment in Debt Securities Debt securities are reported at fair value, with unrealized gains and losses (other than impairment losses) recognized in accumulated other comprehensive income or loss. Realized gains and losses on debt securities are recognized in the net income in the condensed consolidated statements of comprehensive income. The Company monitors its investments for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, the operating performance of the companies including current earnings trends and other company-specific information. The Company invested $ 50,000 9,799 50,000 28,636 On February 26, 2021, the Company invested approximately $ 88,599 2 two years 21.26 88,599 Variable Interest Entity Under Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) 810, Consolidation The Company evaluates its interests in VIEs on an ongoing basis and consolidates any VIE in which it has a controlling financial interest and is deemed to be the primary beneficiary. A controlling financial interest has both of the following characteristics: (i) the power to direct the activities of the VIE that most significantly impact its economic performance; and (ii) the obligation to absorb losses of the VIE that could potentially be significant to it or the right to receive benefits from the VIE that could be significant to the VIE. HWH World Company Limited HWH World Co. is a direct sales company in Thailand. The Company has a 19 187,500 51 September 30, 2022 and December 31, 2021 variable interest and amount receivable in the non-consolidated VIE was $ 236,699 236,699 American Medical REIT Inc. In 2021 the Company owned 3.4 8,350,000 200,000 8 200,000 8,350,000 80.8 200,000 15.8 8,350,000 21,366,177 1,089,675 2,157,984 September 30, 2022 and December 31, 2021 variable interest and amount receivable in the non-consolidated VIE was $ 0 8,901,285 Real Estate Assets Real estate assets are recorded at cost, except when real estate assets are acquired that meet the definition of a business combination in accordance with Financial Accounting Standards Board (“FASB”) ASC 805 - “Business Combinations”, The Company capitalized construction costs of approximately $ 2.9 1.8 5.9 3.2 The Company’s policy is to obtain an independent third-party valuation for each major project in the United States as part of our assessment of identifying potential triggering events for impairment. Management may use the market comparison method to value other relatively small projects, such as the project in Perth, Australia. In addition to the annual assessment of potential triggering events in accordance with ASC 360 – Property Plant and Equipment The Company did not record impairment on any of its projects during the three and nine months ended on September 30, 2022 and 2021. Properties under development Properties under development are properties being constructed for sale in the ordinary course of business, rather than to be held for the Company’s own use, rental or capital appreciation. Rental Properties Rental properties are acquired with the intent to be rented to tenants. During the nine months ended September 30, 2022 and the year ended December 31, 2021, the Company signed multiple purchase agreements to acquire 23 and 109 homes, respectively. By 30, 2022, all of the 132 homes were closed with an aggregate purchase cost of $ 30,998,258 Investments in Single-Family Residential Properties The Company accounts for its investments in single-family residential properties as asset acquisitions and records these acquisitions at their purchase price. The purchase price is allocated between land, building, improvements and existing leases based upon their relative fair values at the date of acquisition. The purchase price for purposes of this allocation is inclusive of acquisition costs which typically include legal fees, title fees, property inspection and valuation fees, as well as other closing costs. Building improvements and buildings are depreciated over estimated useful lives of approximately 10 27.5 The Company assesses its investments in single-family residential properties for impairment whenever events or changes in business circumstances indicate that carrying amounts of the assets may not be fully recoverable. When such events occur, management determines whether there has been impairment by comparing the asset’s carrying value with its fair value. Should impairment exist, the asset is written down to its estimated fair value. The Company did not recognize any impairment losses during three and nine months ended September 30, 2022 and 2021. Revenue Recognition and Cost of Revenue ASC 606 - Revenue from Contracts with Customers In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these goods or services. The provisions of ASC 606 include a five-step process by which the determination of revenue recognition, depicting the transfer of goods or services to customers in amounts reflecting the payment to which the Company expects to be entitled in exchange for those goods or services. ASC 606 requires the Company to apply the following steps: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, performance obligations are satisfied. The following represents the Company’s revenue recognition policies by Segments: Real Estate Property Sales The Company’s main business is land development. The Company purchases land and develops it for building into residential communities. The developed lots are sold to builders (customers) for the construction of new homes. The builders enter into sales contracts with the Company before they take the lots. The prices and timeline are determined and agreed upon in the contracts. The builders do the inspections to make sure all conditions and requirements in contracts are met before purchasing the lots. A detailed breakdown of the five-step process for the revenue recognition of the Ballenger project, which represented approximately 18 70 ● Identify the contract with a customer. The Company has signed agreements with the builders for developing the raw land to ready to build lots. The contract has agreed upon prices, timelines, and specifications for what is to be provided. ● Identify the performance obligations in the contract. Performance obligations of the Company include delivering developed lots to the customer, which are required to meet certain specifications that are outlined in the contract. The customer inspects all lots prior to accepting title to ensure all specifications are met. ● Determine the transaction price. The transaction price per lot is fixed and specified in the contract. Any subsequent change orders or price changes are required to be approved by both parties. ● Allocate the transaction price to performance obligations in the contract. Each lot or a group of lots is considered to be a separate performance obligation, for which the specified price in the contract is allocated to. ● Recognize revenue when (or as) the entity satisfies a performance obligation. The builders do the inspections to make sure all conditions/requirements are met before taking title of lots. The Company recognizes revenue at a point in time when title is transferred. The Company does not have further performance obligations or continuing involvement once title is transferred. Rental Revenue The Company leases real estate properties to its tenants under leases that are predominately classified as operating leases, in accordance with ASC 842, Leases (“ASC 842”). Real estate rental revenue is comprised of minimum base rent and revenue from the collection of lease termination fees. Rent from tenants is recorded in accordance with the terms of each lease agreement on a straight-line basis over the initial term of the lease. Rental revenue recognition begins when the tenant controls the space and continues through the term of the related lease. Generally, at the end of the lease term, the Company provides the tenant with a one-year renewal option, including mostly the same terms and conditions provided under the initial lease term, subject to rent increases. The Company defers rental revenue related to lease payments received from tenants in advance of their due dates. These amounts are presented within deferred revenues and other payables on the Company’s condensed consolidated balance sheets. Rental revenue is subject to an evaluation for collectability on several factors, including payment history, the financial strength of the tenant and any guarantors, historical operations and operating trends of the property, and current economic conditions. If our evaluation of these factors indicates that it is not probable that we will recover substantially all of the receivable, rental revenue is limited to the lesser of the rental revenue that would be recognized on a straight-line basis (as applicable) or the lease payments that have been collected from the lessee. Differences between rental revenue recognized and amounts contractually due under the lease agreements are credited or charged to straight-line rent receivable or straight-line rent liability, as applicable. For the nine months ended September 30, 2022, the Company did not recognize any deferred revenue and collected all rents due. Sale of the Front Foot Benefit Assessments We have established a front foot benefit (“FFB”) assessment on all of the NVR lots. This is a 30-year annual assessment allowed in Frederick County which requires homeowners to reimburse the developer for the costs of installing public water and sewer to the lots. These assessments become effective as homes are settled, at which time we can sell the collection rights to investors who will pay an upfront lump sum, enabling us to more quickly realize the revenue. The selling prices range from $ 3,000 4,500 September 30, 2022 and 2021, we recognized revenue of $ 9,968 182,813 30, 2022 and 2021, we recognized revenue of $ 126,055 431,458 Cost of Revenues Real Estate ● Cost of Real Estate Sale All of the costs of real estate sales are from our land development business. Land acquisition costs are allocated to each lot based on the area method, the size of the lot comparing to the total size of all lots in the project. Development costs and capitalized interest are allocated to lots sold based on the total expected development and interest costs of the completed project and allocating a percentage of those costs based on the selling price of the sold lot compared to the expected sales values of all lots in the project. If allocation of development costs and capitalized interest based on the projection and relative expected sales value is impracticable, those costs could also be allocated based on area method, the size of the lot comparing to the total size of all lots in the project. ● Cost of Rental Revenue Cost of rental revenue consists primarily of the costs associated with management and leasing fees to our management company, repairs and maintenance, depreciation and other related administrative costs. Utility expenses are paid directly by tenants. Biohealth ● Product Direct Sales The Company’s net sales consist of product sales. The Company’s performance obligation is to transfer its products to its third-party independent distributors (“Distributors”). The Company generally recognizes revenue when product is shipped to its Distributors. The Company’s Distributors |
CONCENTRATIONS
CONCENTRATIONS | 9 Months Ended |
Sep. 30, 2022 | |
Risks and Uncertainties [Abstract] | |
CONCENTRATIONS | 3. CONCENTRATIONS The Company maintains cash balances at various financial institutions in different countries. These balances are usually secured by the central banks’ insurance companies. At times, these balances may exceed the insurance limits. As of September 30, 2022 and December 31, 2021, uninsured cash and restricted cash balances were $ 20,252,709 57,905,303 For the three months ended September 30, 2021, two customers accounted for approximately 95 5 42 10 48 96 4 |
SEGMENTS
SEGMENTS | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
SEGMENTS | 4. SEGMENTS Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision–making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision-maker is the CEO. The Company operates in and reports four business segments: real estate, digital transformation technology, biohealth, and other business activities. The Company’s reportable segments are determined based on the services they perform and the products they sell, not on the geographic area in which they operate. The Company’s chief operating decision maker evaluates segment performance based on segment revenue. Costs excluded from segment income (loss) before taxes and reported as “Other” consist of corporate general and administrative activities which are not allocable to the four reportable segments. The following table summarizes the Company’s segment information for the following balance sheet dates presented, and for the nine months ended September 30, 2022 and 2021: SCHEDULE OF SEGMENT INFORMATION Real Estate Digital Transformation Technology Biohealth Business Other Total Nine Months Ended on September 30, 2022 Revenue $ 2,494,707 $ 14,066 $ 771,847 $ 319,862 $ 3,600,482 Cost of Sales (1,880,914 ) (4,574 ) (512,931 ) (80,177 ) (2,478,596 ) Gross Margin 613,793 9,492 258,916 239,685 1,121,886 Operating Expenses (1,988,323 ) (255,764 ) (587,051 ) (3,669,563 ) (6,500,701 ) Operating Loss (1,374,530 ) (246,272 ) (328,135 ) (3,429,878 ) (5,378,815 ) Other Income (Expense) 26,505 (1,359,913 ) (3,535,998 ) (20,677,529 ) (25,546,935 ) Net Loss Before Income Tax (1,348,025 ) (1,606,185 ) (3,864,133 ) (24,107,407 ) (30,925,750 ) Real Estate Digital Transformation Technology Biohealth Business Other Total Nine Months Ended on September 30, 2021 Revenue $ 12,026,069 $ - $ 4,919,844 $ - $ 16,945,913 Cost of Sales (8,291,698 ) - (218,507 ) - (8,510,205 ) Gross Margin 3,734,371 - 4,701,337 - 8,435,708 Operating Expenses (901,236 ) (173,594 ) (3,451,152 ) (8,940,432 ) (13,466,414 ) Operating (Loss) Income 2,833,135 (173,594 ) 1,250,185 (8,940,432 ) (5,030,706 ) Other Expense (9,063 ) 403,000 (33,960,503 ) (53,727,340 ) (87,293,906 ) Net Loss Before Income Tax 2,824,072 229,406 (32,710,318 ) (62,667,772 ) (92,324,612 ) September 30, 2022 Cash and Restricted Cash $ 2,678,530 $ 389,118 $ 1,698,868 $ 18,469,310 $ 23,235,826 Total Assets 49,820,288 1,273,132 6,074,039 107,497,047 164,664,506 December 31, 2021 Cash and Restricted Cash $ 7,493,921 $ 245,780 $ 2,629,464 $ 50,433,014 $ 60,802,179 Total Assets 55,465,600 2,199,466 11,056,779 115,488,298 184,210,143 |
REAL ESTATE ASSETS
REAL ESTATE ASSETS | 9 Months Ended |
Sep. 30, 2022 | |
Real Estate [Abstract] | |
REAL ESTATE ASSETS | 5. REAL ESTATE ASSETS As of September 30, 2022 and December 31, 2021, real estate assets consisted of the following: SCHEDULE OF REAL ESTATE ASSETS September 30, 2022 December 31, 2021 Construction in Progress $ 12,155,652 $ 8,597,023 Land Held for Development 7,943,126 7,098,104 Rental Properties, net 31,485,036 24,820,253 Total Real Estate Assets $ 51,583,814 $ 40,515,380 Single family residential properties As of September 30, 2022 and December 31, 2021, the Company owned 132 109 31 161,182 38,533 30, 2022 and 2021, respectively. Depreciation expense was $ 474,936 53,755 30, 2022 and 2021, respectively. These homes are located in Montgomery and Harris Counties, Texas. The following table presents the summary of our SRFs as of September 30, 2022: SUMMARY OF SINGLE FAMILY RESIDENTIAL PROPERTIES Number of Homes Aggregate investment Average Investment per Home SFRs 132 $ 30,998,258 $ 234,835 |
BUILDER DEPOSITS
BUILDER DEPOSITS | 9 Months Ended |
Sep. 30, 2022 | |
Disclosure Builder Deposits Abstract | |
BUILDER DEPOSITS | 6. BUILDER DEPOSITS In November 2015, SeD Maryland Development, LLC (“SeD Maryland”) entered into lot purchase agreements with NVR, Inc. (“NVR”) relating to the sale of single-family home and townhome lots to NVR in the Ballenger Run Project. The purchase agreements were amended three times thereafter. Based on the agreements, NVR was entitled to purchase 479 64,000,000 3 As part of the agreements, NVR was required to give a deposit in the amount of $ 5,600,000 9.9 100,000 220,000 0 31,553 |
NOTES PAYABLE
NOTES PAYABLE | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE | 7. NOTES PAYABLE As of September 30, 2022 and December 31, 2021, notes payable consisted of the following: SCHEDULE OF NOTES PAYABLE September 30, 2022 December 31, 2021 PPP Loan - 68,502 Australia Loan - 162,696 Hire Purchase 1 71,595 86,473 Hire Purchase 2 122,050 - Total notes payable $ 193,645 $ 317,671 M&T Bank Loan On April 17, 2019, SeD Maryland Development LLC entered into a Development Loan Agreement with Manufacturers and Traders Trust Company (“M&T Bank”) in the principal amount not to exceed at any one time outstanding the sum of $ 8,000,000 18,500,000 900,000 1.5 2,600,000 outstanding balance of the revolving loan was $0 381,823 2,300,000 300,000 On June 18, 2020, Alset EHome Inc. (“Alset EHome”), a wholly owned subsidiary of LiquidValue Development Inc., entered into a Loan Agreement with Manufacturers and Traders Trust Company (the “Lender”). Pursuant to the Loan Agreement, the Lender provided a non-revolving loan to Alset EHome in an aggregate amount of up to $ 2,990,000 July 1, 2022 20,000,000 During the year ended December 31, 2020, Alset EHome borrowed $ 664,810 61,679 42,906 664,810 25,225 42,907 Paycheck Protection Program Loan On February 11, 2021, the Company entered into a five year note with M&T Bank with a principal amount of $ 68,502 1.00 The PPP Term Note was unsecured and guaranteed by the United States Small Business Administration. The Company applied to M&T Bank for forgiveness of the PPP Term Note, with the amount which may be forgiven equal to at least 60 Australia Loan On January 7, 2017, SeD Perth Pty Ltd (“SeD Perth”) entered into a loan agreement with National Australian Bank Limited (the “Australia Loan”) for the purpose of funding land development. The loan facility provides SeD Perth with access to funding of up to approximately $ 460,000 December 31, 2018 36,059 500,000 4.12 4.86 179,000 April 30, 2022 Singapore Car Loans On May 17, 2021, Alset International Limited entered into an agreement with Hong Leong Finance Limited to purchase a car for business. The total purchase price of the car, including associated charges, was approximately $ 184,596 78,640 1,300 1.88 84 On September 22, 2022 Alset International entered into an agreement with United Overseas Bank Limited to purchase additional car for business. The total purchase price of the car, including associated charges, was approximately $ 182,430 66,020 1,472 1.88 84 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | 8. RELATED PARTY TRANSACTIONS Personal Guarantees by Directors As of September 30, 2022 and December 31, 2021, a director of the Company had provided personal guarantees amounting to approximately $ 0 500,000 Purchase of Shares and Warrants from APM On July 17, 2020, the Company purchased 122,039,000 9.99 1,220,390,000 0.0001 APM 122,039 APM 860,342 517,965 1,009,854 945,769 1,067,808 122,039 Sale of Investment in Vivacitas to DSS On March 18, 2021, the Company sold its equity investment in Vivacitas, a U.S.-based biopharmaceutical company, consisting of 2,480,000 250,000 1 2,480,000 200,128 2,279,872 Purchase and Sale of Stock in True Partners Capital Holding Limited On March 12, 2021, the Company purchased 62,122,908 6,729,629 10,003,689 3,274,060 62,122,908 17,570,948 446,104 Notes Payable Chan Heng Fai provided an interest-free, due on demand advance to LiquidValue Development Pte. Ltd. and its subsidiary LiquidValue Development Limited for the general operations of such entities. As of September 30, 2022 and December 31, 2021, the outstanding balance was approximately $ 0 820,113 Chan Heng Fai provided an interest-free, due on demand advance to Alset Inc. for the Company’s general operations. The advance was paid back during the year ended December 31, 2021 and as of September 30, 2022 and December 31, 2021, the outstanding balance was $ 0 Chan Heng Fai provided an interest-free, due on demand advance to SeD Perth Pty. Ltd. for its general operations. As of September 30, 2022 and December 31, 2021, the outstanding balance was $ 12,088 13,546 On August 20, 2020, the Company acquired 30,000,000 1,333,429 1,333,429 0 On March 12, 2021, the Company entered into a Securities Purchase Agreement (the “SPA”) with Chan Heng Fai, the founder, Chairman and Chief Executive Officer of the Company, for four proposed transactions, consisting of (i) purchase of certain warrants (the “Warrants”) to purchase 1,500,000,000 28,363,966 173,395 62,122,908 6,729,629 4,775,523 28,653,138 63,920,129 0.001 5.59 10.03 50,770,192 63,920,128 306,438 2,123 9,163,965 On May 14, 2021, the Company borrowed S$ 7,395,472 5,545,495 0 Management Fees MacKenzie Equity Partners, LLC, an entity owned by Charles MacKenzie, the Chief Development Officer of the Company, has had a consulting agreement with a majority-owned subsidiary of the Company since 2015. Pursuant to the terms of the agreement, as amended on January 1, 2018, the Company’s subsidiary paid a monthly fee of $ 20,000 25,000 In addition, MacKenzie Equity Partners will be paid certain bonuses, including (i) a sum of $50,000 on June 30, 2022; (ii) a sum of $50,000 upon the successful financing of 100 homes owned by American Housing REIT Inc. with an entity not affiliated with SeD Development Management LLC (a subsidiary of the Company); and (iii) a sum of $50,000 upon the successful leasing of 30 homes in the Alset of Black Oak development The Company incurred expenses of $ 60,000 240,000 75,000 275,000 120,000 50,000 25,000 80,000 Notes Receivable from Related Party On March 2, 2020 and on October 29, 2021, LiquidValue Asset Management Pte. Ltd. (“LiquidValue”) received two $ 200,000 8,350,000 15.8 8 payable in two 5.00 The amount of the warrants equals to the note principal divided by the exercise price. If AMRE goes to IPO in the future and IPO price is less than $10.00 per share, the exercise price shall be adjusted downward to fifty percent (50%) of the IPO price 200,000 167,938 3.4 15.8 On July 12, 2022, pursuant to Assignment and Assumption Agreement from February 25, 2022, as amended on July 12, 2022, the Company sold the $ 8,350,000 21,366,177 1,089,675 2,157,984 0 0 130,000 On January 24, 2017, SeD Capital Pte Ltd, a 100 350,000 The term of the loan was two years, with an interest rate of 3% per annum for the first year and 5% per annum for the second year. The expiration term was renewed as due on demand after two years with 5% per annum interest rate. 350,000 61,555 412,754 As of September 30, 2022, the Company provided advances for operation of $ 236,699 19 In the first quarter of 2022, a subsidiary of the Company made a non-interest bearing advance in the amount of $ 476,250 100 476,250 In June 2022, Alset International Limited, a subsidiary of the Company, entered into a stock purchase agreement with one of our directors and paid $ 1,746,279 7,276,163 1,746,279 The Company paid some operating expenses for Alset Capital Acquisition Corp., a special purpose acquisition company of which the Company holds 23.4 0 On July 28, 2022 Hapi Café Inc. entered into binding term sheet (the “First Term Sheet”) with Ketomei Pte Ltd and Tong Leok Siong Constant, pursuant to which Hapi Café lent Ketomei $ 41,750 0 8 360,000 250,500 8 29,922 71,672 Loan to Employees On November 24, 2020, American Pacific Bancorp. Inc. lent $ 560,000 6 November 23, 2023 This loan was secured by an irrevocable letter of instruction on 80,000 shares of Alset Inc 280,000 6 November 23, 2023 This loan was secured by an irrevocable letter of instruction on 40,000 shares of Alset Inc 840,000 28,031 |
EQUITY
EQUITY | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
EQUITY | 9. EQUITY On June 14, 2021, the Company filed an amendment (the “Amendment”) to its Third Amended and Restated Certificate of Incorporation, as amended, to increase the Company’s authorized share capital. The Amendment increased the Company’s authorized share capital to 250,000,000 25,000,000 20,000,000 5,000,000 The Company has designated 6,380 2,132 Holders of the Series A Preferred Stock shall be entitled to receive dividends equal, on an as-if-converted basis, to and in the same form as dividends actually paid on shares of the Company’s common stock, par value $ 0.001 Holders of the Series B Preferred Stock shall be entitled to receive dividends equal, on an as-if-converted basis, to and in the same form as dividends actually paid on shares of the Company’s common stock par value $ 0.001 The Company analyzed the Preferred stock and the embedded conversion option for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the conversion option should be classified as equity. On January 19, 2021, the Company issued 10,000 60,900 On May 3, 2021, the Company entered into a Loan and Exchange Agreement with its Chief Executive Officer, Chan Heng Fai pursuant to which he loaned the Company his shares of Common Stock of the Company by exchanging 6,380,000 6,380 6,380,000 6,380 On May 12, 2021, the Company entered into an Exchange Agreement with Chan Heng Fai, pursuant to which he converted a note in the amount of $ 13,000,000 2,132 2,132,000 2,132 On May 10, 2021, the Company entered into an underwriting agreement with Aegis Capital Corp., as the sole book-running manager and representative of the underwriters named therein (the “Underwriters”), relating to an underwritten public offering (the “May Offering”) of (i) 4,700,637 5.07 0.001 5.07 6.59 1,611,000 5.06 1,611,000 The Company also granted the Underwriters a 45-day over-allotment option to purchase up to 808,363 808,363 808,363 808,363 404,181 808,363 808,363 808,363 5.07 808,363 1,364,025 6,598 8,487,324 39,765,440 The Company incurred approximately $ 88,848 The following table presents net funds received from the May Offering and warrants exercised as of September 30, 2022. SCHEDULE OF NET FUNDS RECEIVED ON OFFERING AND WARRANTS EXERCISED Shares Par value Amount received Offering 4,700,637 $ 4,701 $ 29,145,056 Exercise of Pre-Funded Units 1,611,000 $ 1,611 $ 16,110 Exercise of Underwriter’s Series A Warrants 808,363 $ 808 $ 3,755,774 Exercise of Series A and Series B Warrants 1,367,324 $ 1,367 $ 6,937,347 Offering Expenses - $ - $ (88,848 ) Total 8,487,324 $ 8,487 $ 39,765,439 On July 27, 2021, the Company entered into another underwriting agreement with Aegis Capital Corp., as the sole book-running manager and representative of the underwriters named therein (the “Underwriters”), relating to an underwritten public offering (the “July Offering”) of (i) 5,324,139 0.001 2.12 9,770,200 9,770,200 2.11 33,392,444 The Company granted the Underwriters a 45-day over-allotment option to purchase up to 2,264,150 7.0 1.5 3.0 520,754 125 2.65 24 2,264,150 4,386,998 The Pre-funded Warrants were offered and sold to purchasers whose purchase of Common Stock in the Offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of the Company’s outstanding Common Stock immediately following the consummation of the Offering in lieu of Common Stock that would otherwise result in the purchaser’s beneficial ownership exceeding 4.99% of the Company’s outstanding Common Stock (or, at the election of the purchaser, 9.99%). Each Pre-funded Warrant is exercisable for one share of Common Stock at an exercise price of $0.01 per share. The Pre-funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-funded Warrants are exercised in full The Company incurred approximately $ 49,553 The following table presents net funds received from the July Offering and warrants exercised as of September 30, 2022. Shares Par value Amount received Offering 5,324,139 $ 5,324 $ 28,957,297 Exercise of Pre-Funded Units 9,770,200 $ 9,770 $ 97,702 Exercise of Underwriter’s Over-Allotment Option 2,264,150 $ 2,264 $ 4,386,998 Offering Expenses - $ - $ (49,553 ) Total 17,358,489 $ 17,358 $ 33,392,444 On December 5, 2021, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Aegis Capital Corp., as the sole book-running manager and representative of the underwriters named therein (the “Underwriters”), relating to an underwritten public offering (the “December Offering”) of (i) 18,076,666 0.001 0.60 31,076,666 31,076,666 0.599 27,231,875 The Company granted the Underwriters a 45-day over-allotment option to purchase up to 7,500,000 7 1 7,500,000 15 0.60 4,115,000 The Company granted the Underwriters a 45-day over-allotment option to purchase up to 7,500,000 7 1 7,500,000 15 0.60 4,115,000 The Pre-funded Warrants were offered and sold to purchasers whose purchase of Common Stock in the Offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of the Company’s outstanding Common Stock immediately following the consummation of the Offering. Each Pre-funded Warrant is exercisable for one share of Common Stock at an exercise price of $0.001 per share. The Pre-funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-funded Warrants are exercised in full. At September 30, 2022, 31,076,666 warrants were exercised, some in cashless exercise transactions The Company incurred approximately $ 40,621 The following table presents net funds received from the December Offering and warrants exercised as of September 30, 2022. Shares Par value Amount received Offering 18,923,334 $ 18,923 $ 27,263,673 Exercise of Pre-Funded Units 15,223,333 $ 15,223 $ 8,823 Exercise of Underwriter’s Over-Allotment Option 7,500,000 $ 7,500 $ 4,115,000 Offering Expenses - $ - $ (40,621 ) Total 41,646,667 $ 41,647 $ 31,346,875 On September 30, 2022, there were 148,507,188 The following table summarizes the warrant activity for the nine months ended September 30, 2022. SCHEDULE OF WARRANT ACTIVITY Warrant for Common Shares Weighted Average Exercise Price Remaining Contractual Term (Years) Aggregate Intrinsic Value Warrants Outstanding as of December 31, 2021 28,533,147 $ 1.79 1.88 $ - Warrants Vested and exercisable at December 31, 2021 28,533,147 $ 1.79 1.88 $ - Granted - - Exercised (15,843,378 ) 0.001 Forfeited, cancelled, expired - - Warrants Outstanding as of September 30, 2022 12,689,769 $ 4.02 3.48 $ - Warrants Vested and exercisable at September 30, 2022 12,689,769 $ 4.02 3.48 $ - GigWorld Inc. Sale of Shares During the nine months ended September 30, 2021, the Company sold 280,000 280,000 505,381,376 506,898,576 99 During the nine months ended September 30, 2021, the sales of GigWorld’s shares were de minimis compared to its outstanding shares and did not change the minority interest. Distribution to Minority Shareholder During the nine months ended September 30, 2021, SeD Maryland Development LLC Board approved the payment distribution plan to members and paid $ 1,398,250 Changes of Ownership of Alset International In the year ended December 31, 2021, Alset International issued 1,721,303,416 0.04 60,300,464 58 73,292 1,500,000 6,670,200 On January 17, 2022 the Company entered into a securities purchase agreement with Chan Heng Fai, pursuant to which the Company agreed to purchase from Chan Heng Fai 293,428,200 29,468,977 293,428,200 35,319,290 293,428,200 8.4 3,492,713,362 Due to these transactions the Company’s ownership of Alset International changed from 76.8 85.4 Promissory Note Converted into Shares On December 13, 2021 the Company entered into a Securities Purchase Agreement with Chan Heng Fai for the issuance and sale of a convertible promissory note in favor of Chan Heng Fai, in the principal amount of $ 6,250,000 3 0.625 10,000,000 Registration Statement on Form S-3 On April 11, 2022 the Company filed a Registration Statement on Form S-3 using a “shelf” registration or continuous offering process. Under this shelf registration process, the Company may, from time to time, sell any combination of the securities (common stock, preferred stock, warrants, rights, units) described in the filed prospectus in one or more offerings up to a total aggregate offering price of $ 75,000,000 |
LEASE INCOME
LEASE INCOME | 9 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
LEASE INCOME | 10. LEASE INCOME The Company generally rents its SFRs under lease agreements with a term of one or two years SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS 2022 $ 552,644 2023 856,590 2024 7,450 Total Future Receipts $ 1,416,684 Property Management Agreements The Company has entered into property management agreement with the property managers under which the property managers generally oversee and direct the leasing, management and advertising of the properties in our portfolio, including collecting rents and acting as liaison with the tenants. The Company pays its property managers a monthly property management fee for each property unit and a leasing fee. For the three months ended September 30, 2022 and 2021, property management fees incurred by the property managers were $ 28,890 6,390 60,390 7,380 36,420 31,580 149,625 47,805 |
ACCUMULATED OTHER COMPREHENSIVE
ACCUMULATED OTHER COMPREHENSIVE INCOME | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
ACCUMULATED OTHER COMPREHENSIVE INCOME | 11. ACCUMULATED OTHER COMPREHENSIVE INCOME Following is a summary of the changes in the balances of accumulated other comprehensive income, net of tax: SCHEDULE OF CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME, NET OF TAX Unrealized Gains and Losses on Security Investment Foreign Currency Translations Change in Minority Interest Total Balance at January 1, 2022 $ (90,031 ) $ (367,895 ) $ 799,572 $ 341,646 Other Comprehensive Income (7,027 ) (499,967 ) 459,069 (47,925 ) Balance at March 31, 2022 $ (97,058 ) $ (867,862 ) $ 1,258,641 $ 293,721 Other Comprehensive Income (505 ) (3,002,167 ) 3,266,996 264,324 Balance at June 30, 2022 $ (97,563 ) $ (3,870,029 ) $ 4,525,637 $ 558,045 Other Comprehensive Income 42,642 370,778 (486,134 ) (72,714 ) Balance at September 30, 2022 $ (54,921 ) $ (3,499,251 ) $ 4,039,503 $ 485,331 Unrealized Gains and Losses on Security Investment Foreign Currency Translations Change in Minority Interest Total Balance at January 1, 2021 $ (48,758 ) $ 2,258,017 $ (65,921 ) $ 2,143,338 Other Comprehensive Income (1,135 ) (1,010,527 ) (39,067 ) (1,050,729 ) Balance at March 31, 2021 $ (49,893 ) $ 1,247,490 $ (104,988 ) $ 1,092,609 Other Comprehensive Income (25,663 ) (764,544 ) (343,225 ) (1,133,432 ) Balance at June 30, 2021 $ (75,556 ) $ 482,946 $ (448,213 ) $ (40,823 ) Balance at beginning $ (75,556 ) $ 482,946 $ (448,213 ) $ (40,823 ) Other Comprehensive Income (14,314 ) (930,005 ) (17,070 ) (961,389 ) Balance at September 30, 2021 $ (89,870 ) $ (447,059 ) $ (465,283 ) $ (1,002,212 ) Balance at end $ (89,870 ) $ (447,059 ) $ (465,283 ) $ (1,002,212 ) |
INVESTMENTS MEASURED AT FAIR VA
INVESTMENTS MEASURED AT FAIR VALUE | 9 Months Ended |
Sep. 30, 2022 | |
Investments, All Other Investments [Abstract] | |
INVESTMENTS MEASURED AT FAIR VALUE | 12. INVESTMENTS MEASURED AT FAIR VALUE Financial assets measured at fair value on a recurring basis are summarized below and disclosed on the condensed consolidated balance sheet as of September 30, 2022 and December 31, 2021: SCHEDULE OF FINANCIAL ASSETS MEASURED AT FAIR VALUE ON A RECURRING BASIS Amount at Fair Value Measurement Using Amount at Cost Level 1 Level 2 Level 3 Fair Value September 30, 2022 Assets Investment Securities- Fair Value $ 76,264,051 $ 18,184,407 $ - $ - $ 18,184,407 Investment Securities- Trading 2,387,149 11,894,002 - - 11,894,002 Convertible Note Receivable 138,599 - - 88,599 88,599 Warrants - American Premium Mining 696,791 - - 517,965 517,965 Total $ 79,486,590 $ 30,078,409 $ - $ 606,564 $ 30,684,973 Total Investment in securities at Fair Value 30,684,973 Amount at Fair Value Measurement Using Amount at Cost Level 1 Level 2 Level 3 Fair Value December 31, 2021 Assets Investment Securities- Fair Value $ 72,000,301 $ 25,320,694 $ - $ - $ 25,320,694 Investment Securities- Trading 9,809,778 9,908,077 - - 9,908,077 Convertible Note Receivable 138,599 - - 98,398 98,398 Warrants - American Premium Mining 696,791 - - 1,009,854 1,009,854 Warrants - AMRE - - - - - Total $ 82,645,469 $ 35,228,771 $ - $ 1,108,252 $ 36,337,023 Total Investment in securities at Fair Value 36,337,023 Realized loss on investment securities for the nine months ended September 30, 2022 was $ 6,500,573 2,218,988 21,773,223 35,972,445 40,201 56,969 For U.S. trading stocks, we use Bloomberg Market stock prices as the share prices to calculate fair value. For overseas stock, we use the stock price from the local stock exchange to calculate fair value. The following chart shows details of the fair value of equity security investment at September 30, 2022 and December 31, 2021, respectively. SCHEDULE OF FAIR VALUE OF EQUITY SECURITY INVESTMENT Share price Market Value 9/30/2022 Shares 9/30/2022 Valuation DSS (Related Party) $ 0.256 62,812,264 $ 16,079,940 Investment in Securities at Fair Value AMBS (Related Party) $ 0.004 20,000,000 $ 74,000 Investment in Securities at Fair Value Holista (Related Party) $ 0.021 43,326,621 $ 923,988 Investment in Securities at Fair Value American Premium Mining (Related Party) $ 0.001 354,039,000 $ 389,443 Investment in Securities at Fair Value Value Exchange $ 0.110 6,518,512 $ 717,036 Investment in Securities at Fair Value Trading Stocks $ 11,894,002 Investment in Securities at Fair Value Total Level 1 Equity Securities $ 30,078,409 Nervotech N/A 1,666 $ 35,958 Investment in Securities at Cost Hyten Global N/A 3,800 $ 42,562 Investment in Securities at Cost Ubeauty N/A 3,600 $ 19,609 Investment in Securities at Cost Total Equity Securities $ 30,176,538 Share price Market Value 12/31/2021 Shares 12/31/2021 Valuation DSS (Related Party) $ 0.672 19,888,262 $ 13,364,912 Investment in Securities at Fair Value AMBS (Related Party) $ 0.016 20,000,000 $ 328,000 Investment in Securities at Fair Value Holista (Related Party) $ 0.034 43,626,621 $ 1,489,179 Investment in Securities at Fair Value American Premium Mining (Related Party) $ 0.002 354,039,000 $ 778,886 Investment in Securities at Fair Value True Partner $ 0.119 62,122,908 $ 7,409,717 Investment in Securities at Fair Value Value Exchange $ 0.300 6,500,000 $ 1,950,000 Investment in Securities at Fair Value Trading Stocks $ 9,908,077 Investment in Securities at Fair Value Total Level 1 Equity Securities $ 35,228,771 Nervotech N/A 1,666 $ 37,045 Investment in Securities at Cost Hyten Global N/A 3,800 $ 42,562 Investment in Securities at Cost Ubeauty N/A 3,600 $ 19,609 Investment in Securities at Cost Total Equity Securities $ 35,327,987 DSS convertible preferred stock During the nine months ended September 30, 2021, Global BioMedical Pte Ltd. converted 42,575 6,570,170 Sharing Services Convertible Note The fair value of the Sharing Services Convertible Note under level 3 category as of December 31, 2021 was calculated using a Black-Scholes valuation model valued with the following weighted average assumptions: SCHEDULE OF SIGNIFICANT INPUTS AND ASSUMPTIONS September 30, 2022 December 31, 2021 Dividend yield - % 0.00 % Expected volatility - % 138.85 % Risk free interest rate - % 3.25 % Contractual term (in years) - 0.76 Exercise price $ - $ 0.15 We assumed dividend yield rate is 0.00 Changes in the observable input values would likely cause material changes in the fair value of the Company’s Level 3 financial instruments. A significant increase (decrease) in this likelihood would result in a higher (lower) fair value measurement. The table below provides a summary of the changes in fair value which are recorded as other comprehensive income (loss), including net transfers in and/or out of all financial assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three and nine months ended September 30, 2022 and 2021: SCHEDULE OF CHANGE IN FAIR VALUE Total Balance at January 1, 2022 $ 1,108,252 Total losses (203,463 ) Balance at March 31, 2022 $ 904,789 Total losses (591 ) Balance at June 30, 2022 $ 904,198 Total gain 49,915 Balance at September 30, 2022 $ 954,113 Total Balance at January 1, 2021 $ 66,978 Total losses (1,987 ) Balance at March 31, 2021 $ 64,991 Total losses (35,922 ) Balance at June 30, 2021 $ 29,069 Total losses (19,060 ) Balance at September 30, 2021 $ 10,009 The Note was redeemed in July 2022. Vector Com Convertible Bond On February 26, 2021, the Company invested approximately $ 88,599 2 two years 21.26 Warrants On March 2, 2020 and October 29, 2021, the Company received warrants to purchase shares of AMRE, a related party private company, in conjunction with the Company lending two $ 200,000 Note Receivable from a Related Party Company 0 On July 17, 2020, the Company purchased 122,039,000 9.99 1,220,390,000 0.0001 APM 122,039 232,000,000 232,000,000 APM 232,000 988,390,000 APM 517,965 1,009,854 The fair value of the APM SCHEDULE OF SIGNIFICANT INPUTS AND ASSUMPTIONS September 30, 2022 December 31, 2021 Stock Price $ 0.0011 $ 0.0022 Exercise price 0.001 0.001 Risk free interest rate 3.94 % 1.48 % Measurement input 167.9 % 186.5 % Annualized volatility 167.9 % 186.5 % Year to maturity 7.81 8.58 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 13. COMMITMENTS AND CONTINGENCIES Lots Sales Agreement On November 23, 2015, SeD Maryland Development LLC completed the $ 15,700,000 197 15,000,000 197 On December 31, 2018, SeD Maryland entered into the Third Amendment to the Lot Purchase Agreement for Ballenger Run with NVR. Pursuant to the Third Amendment, SeD Maryland will convert the 5.9 acre CCRC parcel to 36 lots (the 28 feet wide villa lot) and sell to NVR. SeD Maryland pursued the required zoning approval to change the number of such lots from 85 to 121, which was approved in July 2019. Subsequently, SeD Maryland Development signed Fourth Amendment to the Lot Purchase Agreement, pursuant to which NVR agreed to purchase all of the new 121 lots During the three months ended on September 30, 2022 and 2021, NVR purchased 0 18 3 76 3 476 Certain arrangements for the sale of buildable lots to NVR require the Company to credit NVR with an amount equal to one year of the FFB assessment. Under ASC 606, the credits to NVR are not in exchange for a distinct good or service and accordingly, the amount of the credit was recognized as the reduction of revenue. As of September 30, 2022 and December 31, 2021, the accrued balance due to NVR was $ 189,475 and $ 188,125 , respectively. Leases The Company leases offices in Bethesda, Maryland, Magnolia, Texas, Singapore, Hong Kong and South Korea through leased spaces aggregating approximately 15,811 2,300 23,020 179,094 140,685 492,034 405,677 SCHEDULE OF OPERATING AND RENEWED LEASE TERMS RENTAL Office Location Lease Term as of December 31, 2021 Singapore - AI June 2022 to May 2023 Singapore – F&B October 2021 to October 2024 Singapore – Four Seasons Park July 2022 to July 2024 Hong Kong October 2020 to October 2022 South Korea August 2022 to August 2025 Magnolia, Texas May 2022 - on month to month basis Bethesda, Maryland January 2021 to March 2024 The Company adopted ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”) to recognize a right-of-use asset and a lease liability for all the leases with terms greater than twelve months. We elected the practical expedient to not recognize operating lease right-of-use assets and operating lease liabilities for lease agreements with terms less than 12 months. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As our leases do not provide a readily determinable implicit rates, we estimate our incremental borrowing rates to discount the lease payments based on information available at lease commencement. Our incremental borrowings rates are 3.9% in 2022 and 2021, which were used as the discount rates 1,265,171 1,278,157 659,620 667,343 The table below summarizes future payments due under these leases as of September 30, 2022. For the Years Ended September 30: SCHEDULE OF LEASE PAYMENTS 2023 645,572 2024 516,273 2025 234,807 Total Minimum Lease Payments 1,396,652 Less: Effect of Discounting (118,495 ) Present Value of Future Minimum Lease Payments 1,278,157 Less: Current Obligations under Leases (619,355 ) Long-term Lease Obligations $ 658,802 |
DIRECTORS AND EMPLOYEES_ BENEFI
DIRECTORS AND EMPLOYEES’ BENEFITS | 9 Months Ended |
Sep. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
DIRECTORS AND EMPLOYEES’ BENEFITS | 14. DIRECTORS AND EMPLOYEES’ BENEFITS Stock Option plans AEI The Company previously reserved 500,000 Alset International Stock Option plans On November 20, 2013, Alset International approved a Stock Option Plan (the “2013 Plan”). Employees, executive directors, and non-executive directors (including the independent directors) are eligible to participate in the 2013 Plan. The following tables summarize stock option activity under the 2013 Plan for the nine months ended September 30, 2022: SCHEDULE OF OPTION ACTIVITY Options for Common Shares Exercise Price Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding as of January 1, 2021 1,061,333 $ 0.09 3.00 $ - Vested and exercisable at January 1, 2021 1,061,333 $ 0.09 3.00 $ - Granted - - Exercised - - Forfeited, cancelled, expired - - Outstanding as of December 31, 2021 1,061,333 $ 0.09 2.00 $ - Vested and exercisable at December 31, 2021 1,061,333 $ 0.09 2.00 $ - Granted - - Exercised - - Forfeited, cancelled, expired - - Outstanding as of September 30, 2022 1,061,333 $ 0.09 1.25 $ - Vested and exercisable at September 30, 2022 1,061,333 $ 0.09 1.25 $ - |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 15. SUBSEQUENT EVENTS Contract for Sale of Black Oak Lots On October 28, 2022, 150 CCM Black Oak Ltd. (the “Seller”), a Texas Limited Partnership and an indirect, majority-owned subsidiary of the Company, entered into a Contract for Purchase and Sale and Escrow Instructions (the “Agreement”) with Century Land Holdings of Texas, LLC, a Colorado limited liability company (the “Buyer”). Pursuant to the terms of the Agreement, the Seller has agreed to sell all of the approximately 242 single-family detached residential lots comprising a residential community in the city of Magnolia, Texas known as the “Lakes at Black Oak.” The lots will be sold at a range of prices, and the Seller will also be entitled to receive a community enhancement fee for each lot sold. The aggregate purchase price and community enhancement fees are anticipated to be $ 12,881,000 The closing of the transactions described in the Agreement depends on the satisfaction of certain conditions set forth therein. There can be no assurance that such closings will be completed on the terms outlined herein or at all. The Buyer has agreed to purchase the lots in stages, with an estimated closing date of December of 2022 for the first 132 lots to be acquired, with the remainder to be acquired through 2023. Prior to such closing dates, the Buyer shall have a thirty (30) day inspection period in which to inspect the properties and determine their suitability; during such inspection period, the Buyer may decline to proceed with the closing of these transactions. The Seller shall be required to develop and improve the property at the Seller’s cost pursuant to certain development plans and government regulations prior to the closings described above. Purchase of Value Exchange International, Inc. Shares On October 17, 2022, the Company’s subsidiary GigWorld Inc. entered into a Stock Purchase Agreement (the “Agreement”) with Chan Heng Fai, who is the Chairman of GigWorld’s Board of Directors and our Chairman, Chief Executive Officer and largest stockholder. Pursuant to the Agreement, GigWorld bought an aggregate of 7,276,163 1,733,079.12 7,221,163 .24 $2,314 10,000 .2314 5,015 25,000 .2006 3,326 20,000 .1663 1,743,734.12 7,276,163 Mr. Chan and another member of GigWorld’s Board of Directors, Lum Kan Fai Vincent, are both members of the Board of Directors of VEII. In addition to Mr. Chan, two other members of our Board of Directors are also members of the Board of Directors of VEII (Mr. Wong Shui Yeung and Mr. Wong Tat Keung). Following the acquisitions of shares pursuant to the Agreement, the Company now owns a total of 13,834,643 38.3 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation The Company’s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and following the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. These interim financial statements have been prepared on the same basis as the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair statement of the Company’s financial information. These interim results are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or any other interim periods or for any other future years. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s Form 10-K for the year ended December 31, 2021 filed on March 31, 2022. The condensed consolidated financial statements include all accounts of the Company and its majority owned and controlled subsidiaries. The Company consolidates entities in which it owns more than 50% of the voting common stock and controls operations. All intercompany transactions and balances among consolidated subsidiaries have been eliminated. The Company’s condensed consolidated financial statements include the financial position, results of operations and cash flows of the following entities as of September 30, 2022 and December 31, 2021, as follows: SCHEDULE OF SUBSIDIARIES Attributable interest as of, Name of subsidiary consolidated under AEI State or other jurisdiction of incorporation or organization September 30, 2022 December 31, 2021 % % Alset Global Pte. Ltd. Singapore 100 100 Alset Business Development Pte. Ltd. Singapore 100 100 Global eHealth Limited Hong Kong 100 100 Alset International Limited Singapore 85.4 76.8 Singapore Construction & Development Pte. Ltd. Singapore 85.4 76.8 Art eStudio Pte. Ltd. Singapore 43.6 * 39.2 * Singapore Construction Pte. Ltd. Singapore 85.4 76.8 Global BioMedical Pte. Ltd. Singapore 85.4 76.8 Alset Innovation Pte. Ltd. Singapore 85.4 76.8 Health Wealth Happiness Pte. Ltd. Singapore 85.4 76.8 SeD Capital Pte. Ltd. Singapore 85.4 76.8 LiquidValue Asset Management Pte. Ltd. Singapore 85.4 76.8 Alset Solar Limited Hong Kong 85.4 76.8 Alset F&B One Pte. Ltd Singapore 76.9 69.2 Global TechFund of Fund Pte. Ltd. Singapore 100 76.8 Singapore eChainLogistic Pte. Ltd. Singapore 100 76.8 BMI Capital Partners International Limited. Hong Kong 85.4 76.8 SeD Perth Pty. Ltd. Australia 85.4 76.8 SeD Intelligent Home Inc. United States of America 85.4 76.8 LiquidValue Development Inc. United States of America 85.4 76.8 Alset EHome Inc. United States of America 85.4 76.8 SeD USA, LLC United States of America 85.4 76.8 150 Black Oak GP, Inc. United States of America 85.4 76.8 SeD Development USA Inc. United States of America 85.4 76.8 150 CCM Black Oak, Ltd. United States of America 85.4 76.8 SeD Texas Home, LLC United States of America 85.4 76.8 SeD Ballenger, LLC United States of America 85.4 76.8 SeD Maryland Development, LLC United States of America 71.4 64.2 SeD Development Management, LLC United States of America 72.6 65.3 SeD Builder, LLC United States of America 85.4 76.8 GigWorld Inc. United States of America 100 76.6 HotApp BlockChain Pte. Ltd. Singapore 100 76.6 HotApp International Limited Hong Kong 100 76.6 HWH International, Inc. (Delaware) United States of America 85.4 76.8 Health Wealth & Happiness Inc. United States of America 85.4 76.8 HWH Multi-Strategy Investment, Inc. United States of America 85.4 76.8 SeD REIT Inc. United States of America 85.4 76.8 Gig Stablecoin Inc. United States of America 100 76.6 HWH World Inc. (Delaware) United States of America 100 76.6 HWH World Pte. Ltd. Singapore 85.4 76.6 UBeauty Limited Hong Kong 85.4 76.8 WeBeauty Korea Inc Korea 85.4 76.8 HWH World Limited Hong Kong 85.4 76.8 HWH World Inc. Korea 85.4 76.8 Alset BioHealth Pte. Ltd. Singapore - 76.8 Alset Energy Pte. Ltd. Singapore - 76.8 GDC REIT Inc. (f.k.a. Alset Payment Inc.) United States of America 85.4 76.8 Alset World Pte. Ltd. Singapore - 76.8 BioHealth Water Inc. United States of America 85.4 76.8 Impact BioHealth Pte. Ltd. Singapore 85.4 76.8 American Home REIT Inc. United States of America 85.4 76.8 Alset Solar Inc. United States of America 68.3 61.5 HWH KOR Inc. United States of America 85.4 76.8 Open House Inc. United States of America 100 76.8 Open Rental Inc. United States of America 100 76.8 Hapi Cafe Inc. (Nevada) United States of America 100 76.8 Global Solar REIT Inc. United States of America 100 76.8 OpenBiz Inc. United States of America 100 76.8 Hapi Cafe Inc. (Texas) United States of America 85.4 100 HWH (S) Pte. Ltd. Singapore 85.4 76.8 True Partner International Limited Hong Kong - 100 LiquidValue Development Pte. Ltd. Singapore 100 100 LiquidValue Development Limited Hong Kong 100 100 EPowerTech Inc. United States of America 100 100 Alset EPower Inc. United States of America 100 100 AHR Asset Management Inc. United States of America 85.4 76.8 HWH World Inc. (Nevada) United States of America 85.4 76.8 Alset F&B Holdings Pte. Ltd. Singapore 85.4 76.8 Credas Capital Pte. Ltd. Singapore 42.7 * 38.4 * Credas Capital GmbH Switzerland 42.7 * 38.4 * Smart Reward Express Limited Hong Kong 50.0 38.3 * AHR Texas Two LLC United States of America 85.4 76.8 AHR Black Oak One LLC United States of America 85.4 76.8 Hapi Air Inc. United States of America 92.7 88.4 AHR Texas Three, LLC United States of America 85.4 76.8 Alset Capital Pte. Ltd. Singapore 100 100 Hapi Cafe Korea, Inc. Korea 85.4 100 Green Energy Inc. United States of America 100 100 Green Energy Management Inc. United States of America 100 100 Alset Metaverse Inc. United States of America 97.2 95.6 Alset Management Group Inc. United States of America 83.4 88.2 Alset Acquisition Sponsor, LLC United States of America 93.4 79.6 Alset Capital Acquisition Corp. United States of America 23.4 79.6 Alset Spac Group Inc. United States of America 93.4 79.6 Alset Mining Pte. Ltd. Singapore 85.4 - Alset Inc. United States of America 100 - Hapi Travel Pte. Ltd. Singapore 85.4 - Hapi WealthBuilder Pte. Ltd. Singapore 85.4 - HWH Marketplace Pte. Ltd. Singapore 85.4 - HWH International Inc. (Nevada) United States of America 85.4 - Hapi Cafe SG Pte. Ltd. Singapore 85.4 - Alset Reits Inc. United States of America 100 - Robotic gHome Inc. United States of America 76.9 - HWH Merger Sub, Inc. United States of America 85.4 - Alset Home REIT Inc. United States of America 100 - * Although the Company indirectly holds percentage of shares of these entities less than 50%, the subsidiaries of the Company directly hold more than 50% of shares of these entities, and therefore, they are still consolidated into the Company. |
Use of Estimates | Use of Estimates The preparation of 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 disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates made by management include, but are not limited to, allowance for doubtful accounts, valuation of real estate assets, allocation of development costs and capitalized interest to sold lots, fair value of the investments, the valuation allowance of deferred taxes, and contingencies. Actual results could differ from those estimates. In our property development business, land acquisition costs are allocated to each lot based on the area method, the size of the lot compared to the total size of all lots in the project. Development costs and capitalized interest are allocated to lots sold based on the total expected development and interest costs of the completed project and allocating a percentage of those costs based on the selling price of the sold lot compared to the expected sales values of all lots in the project. If allocation of development costs and capitalized interest based on the projection and relative expected sales value is impracticable, those costs could also be allocated based on area method, the size of the lot compared to the total size of all lots in the project. |
Transactions between Entities under Common Control | Transactions between Entities under Common Control On March 12, 2021, the Company entered into a Securities Purchase Agreement (the “SPA”) with Chan Heng Fai, the founder, Chairman and Chief Executive Officer of the Company, for four proposed transactions, consisting of (i) purchase of certain warrants (the “Warrants”) to purchase 1,500,000,000 28,363,966 173,395 62,122,908 6,729,629 4,775,523 28,653,138 63,920,129 0.001 5.59 On October 15, 2020, American Pacific Bancorp (which subsequently became a majority-owned subsidiary of the Company) entered into an acquisition agreement to acquire 3,500,001 100 1,500,000 250,000 The common control transactions resulted in the following basis of accounting for the financial reporting periods: ● The acquisition of the Warrants and True Partner stock were accounted for prospectively as of March 12, 2021 and they did not represent a change in reporting entity. ● The acquisition of LVD, APB and HFL was under common control and was consolidated in accordance with ASC 850-50. The consolidated financial statements were retrospectively adjusted for the acquisition of LVD, APB and HFL, and the operating results of LVD, APB and HFL as of January 1, 2020 for comparative purposes. AEI’s stock price was $ 10.03 50,770,192 63,920,128 306,438 2,123 9,163,965 |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less at the date of acquisition to be cash equivalents. Cash and cash equivalents include cash on hand and at the bank and short-term deposits with financial institutions that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in values. There were no |
Restricted Cash | Restricted Cash As a condition to the loan agreement with the Manufacturers and Traders Trust Company (“M&T Bank”), the Company was required to maintain a minimum of $ 2,600,000 2,300,000 300,000 309,145 4,399,984 As a condition to the loan agreement with National Australian Bank Limited in conjunction with the Perth project, an Australian real estate development project, the Company was required to maintain Australian Dollar 50,000 36,316 The Company puts money into brokerage accounts specifically for equity investment. As of September 30, 2022 and December 31, 2021, the cash balance in these brokerage accounts was $ 321,140 304,570 |
Account Receivables and Allowance for Doubtful Accounts | Account Receivables and Allowance for Doubtful Accounts Account receivables is stated at amounts due from buyers, contractors, and all third parties, net of an allowance for doubtful accounts. As of September 30, 2022 and December 31, 2021, the balance of account receivables was $ 171,380 39,622 0 2,500 The Company monitors its account receivables balances on a monthly basis to ensure that they are collectible. On a quarterly basis, the Company uses its historical experience to estimate its allowance for doubtful account receivables. The Company’s allowance for doubtful accounts represents an estimate of the losses expected to be incurred based on specifically identified accounts as well as nonspecific amount, when determined appropriate. Generally, the amount of the allowance is primarily decided by division management’s historical experience, the delinquency trends, the resolution rates, the aging of receivables, the credit quality indicators and financial health of specific customers. As of September 30, 2022 and December 31, 2021, the allowance was $ 0 |
Inventories | Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out method and includes all costs in bringing the inventories to their present location and condition. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale. As of December 31, 2021, inventory consisted of finished goods from HWH World Inc. As of September 30, 2022, inventory consisted of finished goods from HWH World Inc. and Hapi Cafe Korea Inc. The Company continuously evaluates the need for reserve for obsolescence and possible price concessions required to write-down inventories to net realizable value. |
Investment Securities | Investment Securities Investment Securities at Fair Value The Company records all equity investments with readily determinable fair values at fair value calculated by the publicly traded stock price at the close of the reporting period. Amarantus BioScience Holdings (“AMBS”) and True Partner Capital Holding Limited (“True Partner”) are publicly traded companies. The Company does not have significant influence over AMBS and True Partner, as the Company is the beneficial owner of approximately 4.3 15.5 On April 12, 2021 a subsidiary of the Company acquired 6,500,000 650,000 18.1 During the year ended December 31, 2021, the Company’s subsidiaries established a portfolio of trading securities. The objective is to generate profits on short-term differences in market prices. The Company does not have significant influence over any trading securities in our portfolio and fair value of these trading securities are determined by reference to quoted stock prices. The Company has elected the fair value option for the equity securities noted below that would otherwise be accounted for under the equity method of accounting. Holista CollTech Limited (“Holista”), DSS, Inc. (“DSS”) and American Premium Mining Corporation (“APM” formerly known as American Premium Water Corp.) are publicly traded companies and the fair value of such securities are determined by reference to quoted stock prices. The Company has significant influence but does not have a controlling interest in these investments, and therefore, the Company’s investment could be accounted for under the equity method of accounting or elect fair value accounting. ● The Company has significant influence over DSS. As of September 30, 2022 and December 31, 2021, the Company owned approximately 45.18 24.9 ● The Company has significant influence over Holista as the Company and its CEO are the beneficial owner of approximately 15.5 ● The Company has significant influence over APM as the Company is the beneficial owner of approximately 0.8 On March 2, 2020 and October 29, 2021, the Company received warrants to purchase shares of American Medical REIT Inc. (“AMRE”), a related party private company, in conjunction with the Company lending two $ 200,000 Note Receivable from a Related Party Company September 30, 2022 and December 31, 2021, AMRE was a private company. Based on management’s analysis, the fair value of the AMRE warrants was $ 0 15.8 The Company held a stock option to purchase 250,000 1 0 Sale of Investment in Vivacitas to DSS The Company accounts for certain of its investments in funds without readily determinable fair values in accordance with ASU No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) $ 100,000 74,827 On October 13, 2021 BMI Capital Partners International Limited (“BMI”) entered into loan agreement with Liquid Value Asset Management Limited (“LVAML”), a subsidiary of DSS, pursuant to which BMI agreed to lend $ 3,000,000 3,032,185 2,987,039 Investment Securities at Cost Investments in equity securities without readily determinable fair values are measured at cost minus impairment adjusted by observable price changes in orderly transactions for the identical or a similar investment of the same issuer. These investments are measured at fair value on a nonrecurring basis when there are events or changes in circumstances that may have a significant adverse effect. An impairment loss is recognized in the condensed consolidated statements of comprehensive income equal to the amount by which the carrying value exceeds the fair value of the investment. The Company had an equity holding in Vivacitas Oncology Inc. (“Vivacitas”), a private company that is currently not listed on an exchange. We measured Vivacitas at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. Our ownership in Vivacitas was sold on March 18, 2021 to DSS for $ 2,480,000 2,279,872 Sale of Investment in Vivacitas to DSS On September 8, 2020, the Company acquired 1,666 1.45 37,826 On September 30, 2020, the Company acquired 3,800 19 42,562 During 2021, the Company invested $ 19,609 18 There has been no indication of impairment or changes in observable prices via transactions of similar securities and investments are still carried at cost. Equity Method Investment The Company accounts for equity investment in entities with significant influence under equity-method accounting. Under this method, the Group’s pro rata share of income (loss) from investment is recognized in the condensed consolidated statements of comprehensive income. Dividends received reduce the carrying amount of the investment. When the Company’s share of loss in an equity-method investee equals or exceeds its carrying value of the investment in that entity, the equity method investment can be reduced below zero based on losses, if the Company either is liable for the obligations of the investee or provides for losses in excess of the investment when imminent return to profitable operations by the investee appears to be assured. Otherwise, the Company does not recognize its share of equity method losses exceeding its carrying amount of the investment, but discloses the losses in the footnotes. Equity-method investment is reviewed for impairment by assessing if the decline in market value of the investment below the carrying value is other-than-temporary. In making this determination, factors are evaluated in determining whether a loss in value should be recognized. These include consideration of the intent and ability of the Group to hold investment and the ability of the investee to sustain an earnings capacity, justifying the carrying amount of the investment. Impairment losses are recognized in other expense when a decline in value is deemed to be other-than-temporary. American Medical REIT Inc. LiquidValue Asset Management Pte. Ltd. (“LiquidValue”), a subsidiary of the Company, owns 15.8 September 30, 2022, a company concentrating on medical real estate. AMRE acquires state-of-the-art, purpose-built healthcare facilities and leases them to leading clinical operators with dominant market share under secure triple net leases. AMRE targets hospitals (both Critical Access and Specialty Surgical), Physician Group Practices, Ambulatory Surgical Centers, and other licensed medical treatment facilities. Chan Heng Fai, our Chairman and CEO, is the executive chairman and director of AMRE. DSS, of which we own 45.2% and have significant influence over, owns 80.8% of AMRE. Therefore, the Company has significant influence on AMRE. Joint Venture with Novum On April 20, 2021, one of Company’s indirect subsidiaries, SeD Capital Pte. Ltd. (“SeD Capital”), entered into a joint venture agreement with a digital asset management firm Novum Alpha Pte Ltd (“Novum”). Pursuant to this agreement, SeD Capital will own 50 50 American Pacific Bancorp, Inc. Pursuant to Securities Purchase Agreement from March 12, 2021 the Company purchased of 4,775,523 6,666,700 DSS, Inc. 40,000,200 As a result of the new share issuances, the Company’s ownership percentage of APB fell below 50% to 41.3% and the entity was deconsolidated in accordance with ASC 810-10. Upon deconsolidation the Company elected to apply the equity method accounting as the Company still retained significant influence. As a result of the deconsolidation, the Company recognized gain of approximately $ 28.2 30.8 2.6 2.9 51,999 419,005 579,026 31,380,155 30,801,129 Alset Capital Acquisition Corp. On February 3, 2022, Alset Capital Acquisition Corp. (“Alset Capital”), a special purpose acquisition company (SPAC) sponsored by the Company and certain affiliates, closed its initial public offering of 7,500,000 10.00 1,125,000 473,750 4,737,500 2,156,250 25,000 23.4 2,830,961 237,578 237,578 82,582 10 476,250 100 21,232,707 Ketomei Pte Ltd On June 10, 2021 the Company’s indirect subsidiary Hapi Cafe Inc. (“Hapi Cafe”) lent $ 76,723 179,595 28 5,937 38,996 217,321 Investment in Debt Securities Debt securities are reported at fair value, with unrealized gains and losses (other than impairment losses) recognized in accumulated other comprehensive income or loss. Realized gains and losses on debt securities are recognized in the net income in the condensed consolidated statements of comprehensive income. The Company monitors its investments for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, the operating performance of the companies including current earnings trends and other company-specific information. The Company invested $ 50,000 9,799 50,000 28,636 On February 26, 2021, the Company invested approximately $ 88,599 2 two years 21.26 88,599 |
Variable Interest Entity | Variable Interest Entity Under Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) 810, Consolidation The Company evaluates its interests in VIEs on an ongoing basis and consolidates any VIE in which it has a controlling financial interest and is deemed to be the primary beneficiary. A controlling financial interest has both of the following characteristics: (i) the power to direct the activities of the VIE that most significantly impact its economic performance; and (ii) the obligation to absorb losses of the VIE that could potentially be significant to it or the right to receive benefits from the VIE that could be significant to the VIE. HWH World Company Limited HWH World Co. is a direct sales company in Thailand. The Company has a 19 187,500 51 September 30, 2022 and December 31, 2021 variable interest and amount receivable in the non-consolidated VIE was $ 236,699 236,699 American Medical REIT Inc. In 2021 the Company owned 3.4 8,350,000 200,000 8 200,000 8,350,000 80.8 200,000 15.8 8,350,000 21,366,177 1,089,675 2,157,984 September 30, 2022 and December 31, 2021 variable interest and amount receivable in the non-consolidated VIE was $ 0 8,901,285 |
Real Estate Assets | Real Estate Assets Real estate assets are recorded at cost, except when real estate assets are acquired that meet the definition of a business combination in accordance with Financial Accounting Standards Board (“FASB”) ASC 805 - “Business Combinations”, The Company capitalized construction costs of approximately $ 2.9 1.8 5.9 3.2 The Company’s policy is to obtain an independent third-party valuation for each major project in the United States as part of our assessment of identifying potential triggering events for impairment. Management may use the market comparison method to value other relatively small projects, such as the project in Perth, Australia. In addition to the annual assessment of potential triggering events in accordance with ASC 360 – Property Plant and Equipment The Company did not record impairment on any of its projects during the three and nine months ended on September 30, 2022 and 2021. Properties under development Properties under development are properties being constructed for sale in the ordinary course of business, rather than to be held for the Company’s own use, rental or capital appreciation. Rental Properties Rental properties are acquired with the intent to be rented to tenants. During the nine months ended September 30, 2022 and the year ended December 31, 2021, the Company signed multiple purchase agreements to acquire 23 and 109 homes, respectively. By 30, 2022, all of the 132 homes were closed with an aggregate purchase cost of $ 30,998,258 Investments in Single-Family Residential Properties The Company accounts for its investments in single-family residential properties as asset acquisitions and records these acquisitions at their purchase price. The purchase price is allocated between land, building, improvements and existing leases based upon their relative fair values at the date of acquisition. The purchase price for purposes of this allocation is inclusive of acquisition costs which typically include legal fees, title fees, property inspection and valuation fees, as well as other closing costs. Building improvements and buildings are depreciated over estimated useful lives of approximately 10 27.5 The Company assesses its investments in single-family residential properties for impairment whenever events or changes in business circumstances indicate that carrying amounts of the assets may not be fully recoverable. When such events occur, management determines whether there has been impairment by comparing the asset’s carrying value with its fair value. Should impairment exist, the asset is written down to its estimated fair value. The Company did not recognize any impairment losses during three and nine months ended September 30, 2022 and 2021. |
Revenue Recognition and Cost of Revenue | Revenue Recognition and Cost of Revenue ASC 606 - Revenue from Contracts with Customers In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these goods or services. The provisions of ASC 606 include a five-step process by which the determination of revenue recognition, depicting the transfer of goods or services to customers in amounts reflecting the payment to which the Company expects to be entitled in exchange for those goods or services. ASC 606 requires the Company to apply the following steps: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, performance obligations are satisfied. The following represents the Company’s revenue recognition policies by Segments: Real Estate Property Sales The Company’s main business is land development. The Company purchases land and develops it for building into residential communities. The developed lots are sold to builders (customers) for the construction of new homes. The builders enter into sales contracts with the Company before they take the lots. The prices and timeline are determined and agreed upon in the contracts. The builders do the inspections to make sure all conditions and requirements in contracts are met before purchasing the lots. A detailed breakdown of the five-step process for the revenue recognition of the Ballenger project, which represented approximately 18 70 ● Identify the contract with a customer. The Company has signed agreements with the builders for developing the raw land to ready to build lots. The contract has agreed upon prices, timelines, and specifications for what is to be provided. ● Identify the performance obligations in the contract. Performance obligations of the Company include delivering developed lots to the customer, which are required to meet certain specifications that are outlined in the contract. The customer inspects all lots prior to accepting title to ensure all specifications are met. ● Determine the transaction price. The transaction price per lot is fixed and specified in the contract. Any subsequent change orders or price changes are required to be approved by both parties. ● Allocate the transaction price to performance obligations in the contract. Each lot or a group of lots is considered to be a separate performance obligation, for which the specified price in the contract is allocated to. ● Recognize revenue when (or as) the entity satisfies a performance obligation. The builders do the inspections to make sure all conditions/requirements are met before taking title of lots. The Company recognizes revenue at a point in time when title is transferred. The Company does not have further performance obligations or continuing involvement once title is transferred. Rental Revenue The Company leases real estate properties to its tenants under leases that are predominately classified as operating leases, in accordance with ASC 842, Leases (“ASC 842”). Real estate rental revenue is comprised of minimum base rent and revenue from the collection of lease termination fees. Rent from tenants is recorded in accordance with the terms of each lease agreement on a straight-line basis over the initial term of the lease. Rental revenue recognition begins when the tenant controls the space and continues through the term of the related lease. Generally, at the end of the lease term, the Company provides the tenant with a one-year renewal option, including mostly the same terms and conditions provided under the initial lease term, subject to rent increases. The Company defers rental revenue related to lease payments received from tenants in advance of their due dates. These amounts are presented within deferred revenues and other payables on the Company’s condensed consolidated balance sheets. Rental revenue is subject to an evaluation for collectability on several factors, including payment history, the financial strength of the tenant and any guarantors, historical operations and operating trends of the property, and current economic conditions. If our evaluation of these factors indicates that it is not probable that we will recover substantially all of the receivable, rental revenue is limited to the lesser of the rental revenue that would be recognized on a straight-line basis (as applicable) or the lease payments that have been collected from the lessee. Differences between rental revenue recognized and amounts contractually due under the lease agreements are credited or charged to straight-line rent receivable or straight-line rent liability, as applicable. For the nine months ended September 30, 2022, the Company did not recognize any deferred revenue and collected all rents due. Sale of the Front Foot Benefit Assessments We have established a front foot benefit (“FFB”) assessment on all of the NVR lots. This is a 30-year annual assessment allowed in Frederick County which requires homeowners to reimburse the developer for the costs of installing public water and sewer to the lots. These assessments become effective as homes are settled, at which time we can sell the collection rights to investors who will pay an upfront lump sum, enabling us to more quickly realize the revenue. The selling prices range from $ 3,000 4,500 September 30, 2022 and 2021, we recognized revenue of $ 9,968 182,813 30, 2022 and 2021, we recognized revenue of $ 126,055 431,458 Cost of Revenues Real Estate ● Cost of Real Estate Sale All of the costs of real estate sales are from our land development business. Land acquisition costs are allocated to each lot based on the area method, the size of the lot comparing to the total size of all lots in the project. Development costs and capitalized interest are allocated to lots sold based on the total expected development and interest costs of the completed project and allocating a percentage of those costs based on the selling price of the sold lot compared to the expected sales values of all lots in the project. If allocation of development costs and capitalized interest based on the projection and relative expected sales value is impracticable, those costs could also be allocated based on area method, the size of the lot comparing to the total size of all lots in the project. ● Cost of Rental Revenue Cost of rental revenue consists primarily of the costs associated with management and leasing fees to our management company, repairs and maintenance, depreciation and other related administrative costs. Utility expenses are paid directly by tenants. Biohealth ● Product Direct Sales The Company’s net sales consist of product sales. The Company’s performance obligation is to transfer its products to its third-party independent distributors (“Distributors”). The Company generally recognizes revenue when product is shipped to its Distributors. The Company’s Distributors may receive distributor allowances, which are comprised of discounts, rebates and wholesale commission payments from the Company. Distributor allowances resulting from the Company’s sales of its products to its Distributors are recorded against net sales because the distributor allowances represent discounts from the suggested retail price. In addition to distributor allowances, the Company compensates its sales leader Distributors with leadership incentives for services rendered, relating to the development, retention, and management of their sales organizations. Leadership incentives are payable based on achieved sales volume, which are recorded in general and administrative expenses. The Company recognizes revenue when it ships products. The Company receives the net sales price in cash or through credit card payments at the point of sale. If a Distributor returns a product to the Company on a timely basis, he/she may obtain a replacement product from the Company for such returned products. In addition, the Company maintains a buyback program pursuant to which it will repurchase products sold to a Distributor who has decided to leave the business. Allowances for product returns, primarily in connection with the Company’s buyback program, are provided at the time the sale is recorded. This accrual is based upon historical return rates for each country and the relevant return pattern, which reflects anticipated returns to be received over a period of up to 12 months following the original sale. ● Annual Membership The Company collects an annual membership fee from its Distributors. The fee is fixed, paid in full at the time of joining the membership and non-refundable. The membership provides the member access to purchase products at a discount, access to certain back-office services, receive commissions for signing up new members, and attend corporate events. The Company recognizes revenue associated with the membership over the period of the membership. Before the membership fee is recognized as revenue, it is recorded as deferred revenue. Deferred revenue relating to membership was $ 65,091 728,343 Other Businesses ● Killiney Kopitiam’s Franchise The Company, through Alset F&B One Pte. Ltd. (“Alset F&B”), acquired a restaurant franchise license at the end of 2021 and has since commenced operations. This license will allow Alset F&B to operate a Killiney Kopitiam restaurant in Singapore. Killiney Kopitiam is a Singapore-based chain of mass-market, traditional kopitiam style service cafes selling toast products, soft-boiled eggs and coffee. ● Remaining performance obligations As of September 30, 2022 and December 31, 2021, there were no remaining performance obligations or continuing involvement, as all service obligations within the other business activities segment have been completed. |
Stock-Based Compensation | Stock-Based Compensation The Company accounts for stock-based compensation to employees in accordance with ASC 718, “Compensation-Stock Compensation”. ASC 718 requires companies to measure the cost of employee services received in exchange for an award of equity instruments, including stock options, based on the grant date fair value of the award and to recognize it as compensation expense over the period the employee is required to provide service in exchange for the award, usually the vesting period. Stock option forfeitures are recognized at the date of employee termination. Effective January 1, 2019, the Company adopted ASU 2018-07 for the accounting of share-based payments granted to non-employees for goods and services. During the three and nine months ended on September 30, 2022 and 2021, the Company recorded $ 0 73,292 |
Foreign currency | Foreign currency Functional and reporting currency Items included in the financial statements of each entity in the Company are measured using the currency of the primary economic environment in which the entity operates (“functional currency”). The financial statements of the Company are presented in U.S. dollars (the “reporting currency”). The functional and reporting currency of the Company is the United States dollar (“U.S. dollar”). The financial records of the Company’s subsidiaries located in Singapore, Hong Kong, Australia and South Korea are maintained in their local currencies, the Singapore Dollar (S$), Hong Kong Dollar (HK$), Australian Dollar (“AUD”) and South Korean Won (“KRW”), which are also the functional currencies of these entities. Transactions in foreign currencies Transactions in currencies other than the functional currency during the periods are converted into functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the statement of operations. The majority of the Company’s foreign currency transaction gains or losses come from the effects of foreign exchange rate changes on the intercompany loans between Singapore entities and U.S. entities. The Company recorded foreign exchange gain of $ 132,092 578,903 2,617,896 1,842,128 Translation of consolidated entities’ financial statements Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange ruling at the balance sheet date. The Company’s entities with functional currency of S$, HK$, AUD and KRW, translate their operating results and financial positions into the U.S. dollar, the Company’s reporting currency. Assets and liabilities are translated using the exchange rates in effect on the balance sheet date. Revenue, expense, gains and losses are translated using the average rate for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of comprehensive income (loss). The Company recorded other comprehensive gain of $ 520,339 1,238,356 3,729,724 4,077,987 |
Non-controlling interests | Non-controlling interests Non-controlling interests represent the equity in subsidiary not attributable, directly or indirectly, to owners of the Company, and are presented separately in the condensed consolidated statements of operation and comprehensive income, and within equity in the Condensed Consolidated Balance Sheets, separately from equity attributable to owners of the Company. On September 30, 2022 and December 31, 2021, the aggregate non-controlling interests in the Company were $ 12,015,513 21,912,268 |
Capitalized Financing Costs | Capitalized Financing Costs Financing costs, such as loan origination fee, administration fee, interests, and other related financing costs should be capitalized and recorded on the balance sheet, if these financing activities are directly associated with the development of real estate. Capitalized financing costs are allocated to lots sold based on the total expected development and interest costs of the completed project and allocating a percentage of those costs based on the selling price of the sold lot compared to the expected sales values of all lots in the project. If the allocation of capitalized financing costs based on the projection and relative expected sales value is impracticable, those costs could also be allocated based on an area method, which uses the size of the lots compared to the total project area and allocates costs based on their size. As of September 30, 2022 and December 31, 2021, the capitalized financing costs were $ 3,247,739 |
Beneficial Conversion Features | Beneficial Conversion Features The Company evaluates the conversion feature for whether it was beneficial as described in ASC 470-30. The intrinsic value of a beneficial conversion feature inherent to a convertible note payable, which is not bifurcated and accounted for separately from the convertible note payable and may not be settled in cash upon conversion, is treated as a discount to the convertible note payable. This discount is amortized over the period from the date of issuance to the date the note is due using the effective interest method. If the note payable is retired prior to the end of its contractual term, the unamortized discount is expensed in the period of retirement to interest expense. In general, the beneficial conversion feature is measured by comparing the effective conversion price, after considering the relative fair value of detachable instruments included in the financing transaction, if any, to the fair value of the shares of common stock at the commitment date to be received upon conversion. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Accounting pronouncement adopted 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 requires the company acquiring contract assets and contract liabilities obtained in a business combination to recognize and measure them in accordance with ASC 606, “Revenue from Contracts with Customers”. At the acquisition date, the company acquiring the business should record related revenue, as if it had originated the contract. Before the update such amounts were recognized by the acquiring company at fair value. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including in interim periods, for any financial statements that have not yet been issued. The Company plans to adopt these requirements prospectively, effective on the first day of the year 2023. Accounting pronouncement not yet adopted In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 requires financial assets measured at amortized cost to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. ASU 2016-13 is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those fiscal years, and a modified retrospective approach is required, with a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. In November of 2019, the FASB issued ASU 2019-10, which delayed the implementation of ASU 2016-13 to fiscal years beginning after December 15, 2022 for smaller reporting companies. The Company is currently evaluating the impact of ASU 2016-13 on its future consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of Reference Rate Reform on Financial Reporting In August 2020, the FASB issued ASU 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
SCHEDULE OF SUBSIDIARIES | The Company’s condensed consolidated financial statements include the financial position, results of operations and cash flows of the following entities as of September 30, 2022 and December 31, 2021, as follows: SCHEDULE OF SUBSIDIARIES Attributable interest as of, Name of subsidiary consolidated under AEI State or other jurisdiction of incorporation or organization September 30, 2022 December 31, 2021 % % Alset Global Pte. Ltd. Singapore 100 100 Alset Business Development Pte. Ltd. Singapore 100 100 Global eHealth Limited Hong Kong 100 100 Alset International Limited Singapore 85.4 76.8 Singapore Construction & Development Pte. Ltd. Singapore 85.4 76.8 Art eStudio Pte. Ltd. Singapore 43.6 * 39.2 * Singapore Construction Pte. Ltd. Singapore 85.4 76.8 Global BioMedical Pte. Ltd. Singapore 85.4 76.8 Alset Innovation Pte. Ltd. Singapore 85.4 76.8 Health Wealth Happiness Pte. Ltd. Singapore 85.4 76.8 SeD Capital Pte. Ltd. Singapore 85.4 76.8 LiquidValue Asset Management Pte. Ltd. Singapore 85.4 76.8 Alset Solar Limited Hong Kong 85.4 76.8 Alset F&B One Pte. Ltd Singapore 76.9 69.2 Global TechFund of Fund Pte. Ltd. Singapore 100 76.8 Singapore eChainLogistic Pte. Ltd. Singapore 100 76.8 BMI Capital Partners International Limited. Hong Kong 85.4 76.8 SeD Perth Pty. Ltd. Australia 85.4 76.8 SeD Intelligent Home Inc. United States of America 85.4 76.8 LiquidValue Development Inc. United States of America 85.4 76.8 Alset EHome Inc. United States of America 85.4 76.8 SeD USA, LLC United States of America 85.4 76.8 150 Black Oak GP, Inc. United States of America 85.4 76.8 SeD Development USA Inc. United States of America 85.4 76.8 150 CCM Black Oak, Ltd. United States of America 85.4 76.8 SeD Texas Home, LLC United States of America 85.4 76.8 SeD Ballenger, LLC United States of America 85.4 76.8 SeD Maryland Development, LLC United States of America 71.4 64.2 SeD Development Management, LLC United States of America 72.6 65.3 SeD Builder, LLC United States of America 85.4 76.8 GigWorld Inc. United States of America 100 76.6 HotApp BlockChain Pte. Ltd. Singapore 100 76.6 HotApp International Limited Hong Kong 100 76.6 HWH International, Inc. (Delaware) United States of America 85.4 76.8 Health Wealth & Happiness Inc. United States of America 85.4 76.8 HWH Multi-Strategy Investment, Inc. United States of America 85.4 76.8 SeD REIT Inc. United States of America 85.4 76.8 Gig Stablecoin Inc. United States of America 100 76.6 HWH World Inc. (Delaware) United States of America 100 76.6 HWH World Pte. Ltd. Singapore 85.4 76.6 UBeauty Limited Hong Kong 85.4 76.8 WeBeauty Korea Inc Korea 85.4 76.8 HWH World Limited Hong Kong 85.4 76.8 HWH World Inc. Korea 85.4 76.8 Alset BioHealth Pte. Ltd. Singapore - 76.8 Alset Energy Pte. Ltd. Singapore - 76.8 GDC REIT Inc. (f.k.a. Alset Payment Inc.) United States of America 85.4 76.8 Alset World Pte. Ltd. Singapore - 76.8 BioHealth Water Inc. United States of America 85.4 76.8 Impact BioHealth Pte. Ltd. Singapore 85.4 76.8 American Home REIT Inc. United States of America 85.4 76.8 Alset Solar Inc. United States of America 68.3 61.5 HWH KOR Inc. United States of America 85.4 76.8 Open House Inc. United States of America 100 76.8 Open Rental Inc. United States of America 100 76.8 Hapi Cafe Inc. (Nevada) United States of America 100 76.8 Global Solar REIT Inc. United States of America 100 76.8 OpenBiz Inc. United States of America 100 76.8 Hapi Cafe Inc. (Texas) United States of America 85.4 100 HWH (S) Pte. Ltd. Singapore 85.4 76.8 True Partner International Limited Hong Kong - 100 LiquidValue Development Pte. Ltd. Singapore 100 100 LiquidValue Development Limited Hong Kong 100 100 EPowerTech Inc. United States of America 100 100 Alset EPower Inc. United States of America 100 100 AHR Asset Management Inc. United States of America 85.4 76.8 HWH World Inc. (Nevada) United States of America 85.4 76.8 Alset F&B Holdings Pte. Ltd. Singapore 85.4 76.8 Credas Capital Pte. Ltd. Singapore 42.7 * 38.4 * Credas Capital GmbH Switzerland 42.7 * 38.4 * Smart Reward Express Limited Hong Kong 50.0 38.3 * AHR Texas Two LLC United States of America 85.4 76.8 AHR Black Oak One LLC United States of America 85.4 76.8 Hapi Air Inc. United States of America 92.7 88.4 AHR Texas Three, LLC United States of America 85.4 76.8 Alset Capital Pte. Ltd. Singapore 100 100 Hapi Cafe Korea, Inc. Korea 85.4 100 Green Energy Inc. United States of America 100 100 Green Energy Management Inc. United States of America 100 100 Alset Metaverse Inc. United States of America 97.2 95.6 Alset Management Group Inc. United States of America 83.4 88.2 Alset Acquisition Sponsor, LLC United States of America 93.4 79.6 Alset Capital Acquisition Corp. United States of America 23.4 79.6 Alset Spac Group Inc. United States of America 93.4 79.6 Alset Mining Pte. Ltd. Singapore 85.4 - Alset Inc. United States of America 100 - Hapi Travel Pte. Ltd. Singapore 85.4 - Hapi WealthBuilder Pte. Ltd. Singapore 85.4 - HWH Marketplace Pte. Ltd. Singapore 85.4 - HWH International Inc. (Nevada) United States of America 85.4 - Hapi Cafe SG Pte. Ltd. Singapore 85.4 - Alset Reits Inc. United States of America 100 - Robotic gHome Inc. United States of America 76.9 - HWH Merger Sub, Inc. United States of America 85.4 - Alset Home REIT Inc. United States of America 100 - * Although the Company indirectly holds percentage of shares of these entities less than 50%, the subsidiaries of the Company directly hold more than 50% of shares of these entities, and therefore, they are still consolidated into the Company. |
SEGMENTS (Tables)
SEGMENTS (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
SCHEDULE OF SEGMENT INFORMATION | The following table summarizes the Company’s segment information for the following balance sheet dates presented, and for the nine months ended September 30, 2022 and 2021: SCHEDULE OF SEGMENT INFORMATION Real Estate Digital Transformation Technology Biohealth Business Other Total Nine Months Ended on September 30, 2022 Revenue $ 2,494,707 $ 14,066 $ 771,847 $ 319,862 $ 3,600,482 Cost of Sales (1,880,914 ) (4,574 ) (512,931 ) (80,177 ) (2,478,596 ) Gross Margin 613,793 9,492 258,916 239,685 1,121,886 Operating Expenses (1,988,323 ) (255,764 ) (587,051 ) (3,669,563 ) (6,500,701 ) Operating Loss (1,374,530 ) (246,272 ) (328,135 ) (3,429,878 ) (5,378,815 ) Other Income (Expense) 26,505 (1,359,913 ) (3,535,998 ) (20,677,529 ) (25,546,935 ) Net Loss Before Income Tax (1,348,025 ) (1,606,185 ) (3,864,133 ) (24,107,407 ) (30,925,750 ) Real Estate Digital Transformation Technology Biohealth Business Other Total Nine Months Ended on September 30, 2021 Revenue $ 12,026,069 $ - $ 4,919,844 $ - $ 16,945,913 Cost of Sales (8,291,698 ) - (218,507 ) - (8,510,205 ) Gross Margin 3,734,371 - 4,701,337 - 8,435,708 Operating Expenses (901,236 ) (173,594 ) (3,451,152 ) (8,940,432 ) (13,466,414 ) Operating (Loss) Income 2,833,135 (173,594 ) 1,250,185 (8,940,432 ) (5,030,706 ) Other Expense (9,063 ) 403,000 (33,960,503 ) (53,727,340 ) (87,293,906 ) Net Loss Before Income Tax 2,824,072 229,406 (32,710,318 ) (62,667,772 ) (92,324,612 ) September 30, 2022 Cash and Restricted Cash $ 2,678,530 $ 389,118 $ 1,698,868 $ 18,469,310 $ 23,235,826 Total Assets 49,820,288 1,273,132 6,074,039 107,497,047 164,664,506 December 31, 2021 Cash and Restricted Cash $ 7,493,921 $ 245,780 $ 2,629,464 $ 50,433,014 $ 60,802,179 Total Assets 55,465,600 2,199,466 11,056,779 115,488,298 184,210,143 |
REAL ESTATE ASSETS (Tables)
REAL ESTATE ASSETS (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Real Estate [Abstract] | |
SCHEDULE OF REAL ESTATE ASSETS | As of September 30, 2022 and December 31, 2021, real estate assets consisted of the following: SCHEDULE OF REAL ESTATE ASSETS September 30, 2022 December 31, 2021 Construction in Progress $ 12,155,652 $ 8,597,023 Land Held for Development 7,943,126 7,098,104 Rental Properties, net 31,485,036 24,820,253 Total Real Estate Assets $ 51,583,814 $ 40,515,380 |
SUMMARY OF SINGLE FAMILY RESIDENTIAL PROPERTIES | The following table presents the summary of our SRFs as of September 30, 2022: SUMMARY OF SINGLE FAMILY RESIDENTIAL PROPERTIES Number of Homes Aggregate investment Average Investment per Home SFRs 132 $ 30,998,258 $ 234,835 |
NOTES PAYABLE (Tables)
NOTES PAYABLE (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF NOTES PAYABLE | As of September 30, 2022 and December 31, 2021, notes payable consisted of the following: SCHEDULE OF NOTES PAYABLE September 30, 2022 December 31, 2021 PPP Loan - 68,502 Australia Loan - 162,696 Hire Purchase 1 71,595 86,473 Hire Purchase 2 122,050 - Total notes payable $ 193,645 $ 317,671 |
EQUITY (Tables)
EQUITY (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
SCHEDULE OF NET FUNDS RECEIVED ON OFFERING AND WARRANTS EXERCISED | The following table presents net funds received from the May Offering and warrants exercised as of September 30, 2022. SCHEDULE OF NET FUNDS RECEIVED ON OFFERING AND WARRANTS EXERCISED Shares Par value Amount received Offering 4,700,637 $ 4,701 $ 29,145,056 Exercise of Pre-Funded Units 1,611,000 $ 1,611 $ 16,110 Exercise of Underwriter’s Series A Warrants 808,363 $ 808 $ 3,755,774 Exercise of Series A and Series B Warrants 1,367,324 $ 1,367 $ 6,937,347 Offering Expenses - $ - $ (88,848 ) Total 8,487,324 $ 8,487 $ 39,765,439 The following table presents net funds received from the July Offering and warrants exercised as of September 30, 2022. Shares Par value Amount received Offering 5,324,139 $ 5,324 $ 28,957,297 Exercise of Pre-Funded Units 9,770,200 $ 9,770 $ 97,702 Exercise of Underwriter’s Over-Allotment Option 2,264,150 $ 2,264 $ 4,386,998 Offering Expenses - $ - $ (49,553 ) Total 17,358,489 $ 17,358 $ 33,392,444 The following table presents net funds received from the December Offering and warrants exercised as of September 30, 2022. Shares Par value Amount received Offering 18,923,334 $ 18,923 $ 27,263,673 Exercise of Pre-Funded Units 15,223,333 $ 15,223 $ 8,823 Exercise of Underwriter’s Over-Allotment Option 7,500,000 $ 7,500 $ 4,115,000 Offering Expenses - $ - $ (40,621 ) Total 41,646,667 $ 41,647 $ 31,346,875 |
SCHEDULE OF WARRANT ACTIVITY | The following table summarizes the warrant activity for the nine months ended September 30, 2022. SCHEDULE OF WARRANT ACTIVITY Warrant for Common Shares Weighted Average Exercise Price Remaining Contractual Term (Years) Aggregate Intrinsic Value Warrants Outstanding as of December 31, 2021 28,533,147 $ 1.79 1.88 $ - Warrants Vested and exercisable at December 31, 2021 28,533,147 $ 1.79 1.88 $ - Granted - - Exercised (15,843,378 ) 0.001 Forfeited, cancelled, expired - - Warrants Outstanding as of September 30, 2022 12,689,769 $ 4.02 3.48 $ - Warrants Vested and exercisable at September 30, 2022 12,689,769 $ 4.02 3.48 $ - |
LEASE INCOME (Tables)
LEASE INCOME (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS | SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS 2022 $ 552,644 2023 856,590 2024 7,450 Total Future Receipts $ 1,416,684 |
ACCUMULATED OTHER COMPREHENSI_2
ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
SCHEDULE OF CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME, NET OF TAX | Following is a summary of the changes in the balances of accumulated other comprehensive income, net of tax: SCHEDULE OF CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME, NET OF TAX Unrealized Gains and Losses on Security Investment Foreign Currency Translations Change in Minority Interest Total Balance at January 1, 2022 $ (90,031 ) $ (367,895 ) $ 799,572 $ 341,646 Other Comprehensive Income (7,027 ) (499,967 ) 459,069 (47,925 ) Balance at March 31, 2022 $ (97,058 ) $ (867,862 ) $ 1,258,641 $ 293,721 Other Comprehensive Income (505 ) (3,002,167 ) 3,266,996 264,324 Balance at June 30, 2022 $ (97,563 ) $ (3,870,029 ) $ 4,525,637 $ 558,045 Other Comprehensive Income 42,642 370,778 (486,134 ) (72,714 ) Balance at September 30, 2022 $ (54,921 ) $ (3,499,251 ) $ 4,039,503 $ 485,331 Unrealized Gains and Losses on Security Investment Foreign Currency Translations Change in Minority Interest Total Balance at January 1, 2021 $ (48,758 ) $ 2,258,017 $ (65,921 ) $ 2,143,338 Other Comprehensive Income (1,135 ) (1,010,527 ) (39,067 ) (1,050,729 ) Balance at March 31, 2021 $ (49,893 ) $ 1,247,490 $ (104,988 ) $ 1,092,609 Other Comprehensive Income (25,663 ) (764,544 ) (343,225 ) (1,133,432 ) Balance at June 30, 2021 $ (75,556 ) $ 482,946 $ (448,213 ) $ (40,823 ) Balance at beginning $ (75,556 ) $ 482,946 $ (448,213 ) $ (40,823 ) Other Comprehensive Income (14,314 ) (930,005 ) (17,070 ) (961,389 ) Balance at September 30, 2021 $ (89,870 ) $ (447,059 ) $ (465,283 ) $ (1,002,212 ) Balance at end $ (89,870 ) $ (447,059 ) $ (465,283 ) $ (1,002,212 ) |
INVESTMENTS MEASURED AT FAIR _2
INVESTMENTS MEASURED AT FAIR VALUE (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Net Investment Income [Line Items] | |
SCHEDULE OF FINANCIAL ASSETS MEASURED AT FAIR VALUE ON A RECURRING BASIS | Financial assets measured at fair value on a recurring basis are summarized below and disclosed on the condensed consolidated balance sheet as of September 30, 2022 and December 31, 2021: SCHEDULE OF FINANCIAL ASSETS MEASURED AT FAIR VALUE ON A RECURRING BASIS Amount at Fair Value Measurement Using Amount at Cost Level 1 Level 2 Level 3 Fair Value September 30, 2022 Assets Investment Securities- Fair Value $ 76,264,051 $ 18,184,407 $ - $ - $ 18,184,407 Investment Securities- Trading 2,387,149 11,894,002 - - 11,894,002 Convertible Note Receivable 138,599 - - 88,599 88,599 Warrants - American Premium Mining 696,791 - - 517,965 517,965 Total $ 79,486,590 $ 30,078,409 $ - $ 606,564 $ 30,684,973 Total Investment in securities at Fair Value 30,684,973 Amount at Fair Value Measurement Using Amount at Cost Level 1 Level 2 Level 3 Fair Value December 31, 2021 Assets Investment Securities- Fair Value $ 72,000,301 $ 25,320,694 $ - $ - $ 25,320,694 Investment Securities- Trading 9,809,778 9,908,077 - - 9,908,077 Convertible Note Receivable 138,599 - - 98,398 98,398 Warrants - American Premium Mining 696,791 - - 1,009,854 1,009,854 Warrants - AMRE - - - - - Total $ 82,645,469 $ 35,228,771 $ - $ 1,108,252 $ 36,337,023 Total Investment in securities at Fair Value 36,337,023 |
SCHEDULE OF FAIR VALUE OF EQUITY SECURITY INVESTMENT | SCHEDULE OF FAIR VALUE OF EQUITY SECURITY INVESTMENT Share price Market Value 9/30/2022 Shares 9/30/2022 Valuation DSS (Related Party) $ 0.256 62,812,264 $ 16,079,940 Investment in Securities at Fair Value AMBS (Related Party) $ 0.004 20,000,000 $ 74,000 Investment in Securities at Fair Value Holista (Related Party) $ 0.021 43,326,621 $ 923,988 Investment in Securities at Fair Value American Premium Mining (Related Party) $ 0.001 354,039,000 $ 389,443 Investment in Securities at Fair Value Value Exchange $ 0.110 6,518,512 $ 717,036 Investment in Securities at Fair Value Trading Stocks $ 11,894,002 Investment in Securities at Fair Value Total Level 1 Equity Securities $ 30,078,409 Nervotech N/A 1,666 $ 35,958 Investment in Securities at Cost Hyten Global N/A 3,800 $ 42,562 Investment in Securities at Cost Ubeauty N/A 3,600 $ 19,609 Investment in Securities at Cost Total Equity Securities $ 30,176,538 Share price Market Value 12/31/2021 Shares 12/31/2021 Valuation DSS (Related Party) $ 0.672 19,888,262 $ 13,364,912 Investment in Securities at Fair Value AMBS (Related Party) $ 0.016 20,000,000 $ 328,000 Investment in Securities at Fair Value Holista (Related Party) $ 0.034 43,626,621 $ 1,489,179 Investment in Securities at Fair Value American Premium Mining (Related Party) $ 0.002 354,039,000 $ 778,886 Investment in Securities at Fair Value True Partner $ 0.119 62,122,908 $ 7,409,717 Investment in Securities at Fair Value Value Exchange $ 0.300 6,500,000 $ 1,950,000 Investment in Securities at Fair Value Trading Stocks $ 9,908,077 Investment in Securities at Fair Value Total Level 1 Equity Securities $ 35,228,771 Nervotech N/A 1,666 $ 37,045 Investment in Securities at Cost Hyten Global N/A 3,800 $ 42,562 Investment in Securities at Cost Ubeauty N/A 3,600 $ 19,609 Investment in Securities at Cost Total Equity Securities $ 35,327,987 |
Sharing Services Convertible Note [Member] | |
Net Investment Income [Line Items] | |
SCHEDULE OF SIGNIFICANT INPUTS AND ASSUMPTIONS | The fair value of the Sharing Services Convertible Note under level 3 category as of December 31, 2021 was calculated using a Black-Scholes valuation model valued with the following weighted average assumptions: SCHEDULE OF SIGNIFICANT INPUTS AND ASSUMPTIONS September 30, 2022 December 31, 2021 Dividend yield - % 0.00 % Expected volatility - % 138.85 % Risk free interest rate - % 3.25 % Contractual term (in years) - 0.76 Exercise price $ - $ 0.15 |
SCHEDULE OF CHANGE IN FAIR VALUE | The table below provides a summary of the changes in fair value which are recorded as other comprehensive income (loss), including net transfers in and/or out of all financial assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three and nine months ended September 30, 2022 and 2021: SCHEDULE OF CHANGE IN FAIR VALUE Total Balance at January 1, 2022 $ 1,108,252 Total losses (203,463 ) Balance at March 31, 2022 $ 904,789 Total losses (591 ) Balance at June 30, 2022 $ 904,198 Total gain 49,915 Balance at September 30, 2022 $ 954,113 Total Balance at January 1, 2021 $ 66,978 Total losses (1,987 ) Balance at March 31, 2021 $ 64,991 Total losses (35,922 ) Balance at June 30, 2021 $ 29,069 Total losses (19,060 ) Balance at September 30, 2021 $ 10,009 |
A P W Warrants [Member] | |
Net Investment Income [Line Items] | |
SCHEDULE OF SIGNIFICANT INPUTS AND ASSUMPTIONS | The fair value of the APM SCHEDULE OF SIGNIFICANT INPUTS AND ASSUMPTIONS September 30, 2022 December 31, 2021 Stock Price $ 0.0011 $ 0.0022 Exercise price 0.001 0.001 Risk free interest rate 3.94 % 1.48 % Measurement input 167.9 % 186.5 % Annualized volatility 167.9 % 186.5 % Year to maturity 7.81 8.58 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
SCHEDULE OF OPERATING AND RENEWED LEASE TERMS RENTAL | SCHEDULE OF OPERATING AND RENEWED LEASE TERMS RENTAL Office Location Lease Term as of December 31, 2021 Singapore - AI June 2022 to May 2023 Singapore – F&B October 2021 to October 2024 Singapore – Four Seasons Park July 2022 to July 2024 Hong Kong October 2020 to October 2022 South Korea August 2022 to August 2025 Magnolia, Texas May 2022 - on month to month basis Bethesda, Maryland January 2021 to March 2024 |
SCHEDULE OF LEASE PAYMENTS | The table below summarizes future payments due under these leases as of September 30, 2022. For the Years Ended September 30: SCHEDULE OF LEASE PAYMENTS 2023 645,572 2024 516,273 2025 234,807 Total Minimum Lease Payments 1,396,652 Less: Effect of Discounting (118,495 ) Present Value of Future Minimum Lease Payments 1,278,157 Less: Current Obligations under Leases (619,355 ) Long-term Lease Obligations $ 658,802 |
DIRECTORS AND EMPLOYEES_ BENE_2
DIRECTORS AND EMPLOYEES’ BENEFITS (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
SCHEDULE OF OPTION ACTIVITY | The following tables summarize stock option activity under the 2013 Plan for the nine months ended September 30, 2022: SCHEDULE OF OPTION ACTIVITY Options for Common Shares Exercise Price Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding as of January 1, 2021 1,061,333 $ 0.09 3.00 $ - Vested and exercisable at January 1, 2021 1,061,333 $ 0.09 3.00 $ - Granted - - Exercised - - Forfeited, cancelled, expired - - Outstanding as of December 31, 2021 1,061,333 $ 0.09 2.00 $ - Vested and exercisable at December 31, 2021 1,061,333 $ 0.09 2.00 $ - Granted - - Exercised - - Forfeited, cancelled, expired - - Outstanding as of September 30, 2022 1,061,333 $ 0.09 1.25 $ - Vested and exercisable at September 30, 2022 1,061,333 $ 0.09 1.25 $ - |
NATURE OF OPERATIONS AND SUMM_2
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 9 Months Ended |
Sep. 30, 2022 shares | |
Chan Heng Fai [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |
Issuance of shares of common stock | 1,000 |
SCHEDULE OF SUBSIDIARIES (Detai
SCHEDULE OF SUBSIDIARIES (Details) | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Jan. 24, 2021 | |||
Alset Global Pte Ltd [Member] | ||||||
Name of subsidiary | Alset Global Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 100% | 100% | ||||
Alset Business Development Pte Ltd [Member] | ||||||
Name of subsidiary | Alset Business Development Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 100% | 100% | ||||
Globale Health Limited [Member] | ||||||
Name of subsidiary | Global eHealth Limited | |||||
State or other jurisdiction of incorporation or organization | Hong Kong | |||||
Ownership percentage | 100% | 100% | ||||
Alset International Inc [Member] | ||||||
Name of subsidiary | Alset International Limited | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Singapore Construction & Development Pte. Ltd. [Member] | ||||||
Name of subsidiary | Singapore Construction & Development Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Art eStudio Pte. Ltd. [Member] | ||||||
Name of subsidiary | Art eStudio Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | [1] | 43.60% | 39.20% | |||
Singapore Construction Pte. Ltd. [Member] | ||||||
Name of subsidiary | Singapore Construction Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Global Bio Medical Pte Ltd [Member] | ||||||
Name of subsidiary | Global BioMedical Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Alset Innovation Pte Ltd [Member] | ||||||
Name of subsidiary | Alset Innovation Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Health Wealth Happiness Pte Ltd [Member] | ||||||
Name of subsidiary | Health Wealth Happiness Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.80% | ||||
SeD Capital Pte Ltd [Member] | ||||||
Name of subsidiary | SeD Capital Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Liquid Value Asset Management Pte Ltd [Member] | ||||||
Name of subsidiary | LiquidValue Asset Management Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Alset Solar Limited [Member] | ||||||
Name of subsidiary | Alset Solar Limited | |||||
State or other jurisdiction of incorporation or organization | Hong Kong | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Alset F&B one Pte Ltd [Member] | ||||||
Name of subsidiary | Alset F&B One Pte. Ltd | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 76.90% | 69.20% | ||||
Global Tech Fund of Fund Pte Ltd [Member] | ||||||
Name of subsidiary | Global TechFund of Fund Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 100% | 76.80% | ||||
Singapore EChain Logistic Pte Ltd [Member] | ||||||
Name of subsidiary | Singapore eChainLogistic Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 100% | 76.80% | ||||
BMI Capital Partners International Limited [Member] | ||||||
Name of subsidiary | BMI Capital Partners International Limited. | |||||
State or other jurisdiction of incorporation or organization | Hong Kong | |||||
Ownership percentage | 85.40% | 76.80% | ||||
SeD Perth Pty Ltd [Member] | ||||||
Name of subsidiary | SeD Perth Pty. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Australia | |||||
Ownership percentage | 85.40% | 76.80% | 100% | |||
SeD Intelligent Home Inc [Member] | ||||||
Name of subsidiary | SeD Intelligent Home Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Liquid Value Development Inc [Member] | ||||||
Name of subsidiary | LiquidValue Development Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Alset EHome Inc [Member] | ||||||
Name of subsidiary | Alset EHome Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
SeD USA, LLC [Member] | ||||||
Name of subsidiary | SeD USA, LLC | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
150 Black Oak GP Inc [Member] | ||||||
Name of subsidiary | 150 Black Oak GP, Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
SeD Development USA Inc [Member] | ||||||
Name of subsidiary | SeD Development USA Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
150 CCM Black Oak Ltd [Member] | ||||||
Name of subsidiary | 150 CCM Black Oak, Ltd. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
SeD Texas Home LLC [Member] | ||||||
Name of subsidiary | SeD Texas Home, LLC | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Se D Ballenger LLC [Member] | ||||||
Name of subsidiary | SeD Ballenger, LLC | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
SeD Maryland Development LLC [Member] | ||||||
Name of subsidiary | SeD Maryland Development, LLC | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 71.40% | 64.20% | ||||
SeD Development Management LLC [Member] | ||||||
Name of subsidiary | SeD Development Management, LLC | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 72.60% | 65.30% | ||||
SeD Builder LLC [Member] | ||||||
Name of subsidiary | SeD Builder, LLC | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Gig World Inc [Member] | ||||||
Name of subsidiary | GigWorld Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | 76.60% | ||||
Hot App Block Chain Pte .Ltd [Member] | ||||||
Name of subsidiary | HotApp BlockChain Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 100% | 76.60% | ||||
HotApp International Limited [Member] | ||||||
Name of subsidiary | HotApp International Limited | |||||
State or other jurisdiction of incorporation or organization | Hong Kong | |||||
Ownership percentage | 100% | 76.60% | ||||
HWH International Inc [Member] | ||||||
Name of subsidiary | HWH International, Inc. (Delaware) | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Health Wealth Happiness Inc [Member] | ||||||
Name of subsidiary | Health Wealth & Happiness Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
HWH Multi Strategy Investment Inc [Member] | ||||||
Name of subsidiary | HWH Multi-Strategy Investment, Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
SeD REIT Inc [Member] | ||||||
Name of subsidiary | SeD REIT Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Gig Stablecoin Inc [Member] | ||||||
Name of subsidiary | Gig Stablecoin Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | 76.60% | ||||
HWH World Inc [Member] | ||||||
Name of subsidiary | HWH World Inc. (Delaware) | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | 76.60% | ||||
HWH World Pte Ltd [Member] | ||||||
Name of subsidiary | HWH World Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.60% | ||||
UBeauty Limited [Member] | ||||||
Name of subsidiary | UBeauty Limited | |||||
State or other jurisdiction of incorporation or organization | Hong Kong | |||||
Ownership percentage | 85.40% | 76.80% | ||||
We Beauty Korea Inc [Member] | ||||||
Name of subsidiary | WeBeauty Korea Inc | |||||
State or other jurisdiction of incorporation or organization | Korea | |||||
Ownership percentage | 85.40% | 76.80% | ||||
HWH World Limited [Member] | ||||||
Name of subsidiary | HWH World Limited | |||||
State or other jurisdiction of incorporation or organization | Hong Kong | |||||
Ownership percentage | 85.40% | 76.80% | ||||
HWH World Inc One [Member] | ||||||
Name of subsidiary | HWH World Inc. | |||||
State or other jurisdiction of incorporation or organization | Korea | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Alset Bio Health Pte Ltd [Member] | ||||||
Name of subsidiary | Alset BioHealth Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 76.80% | |||||
Alset Energy Pte Ltd [Member] | ||||||
Name of subsidiary | Alset Energy Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 76.80% | |||||
GDCREIT Inc [Member] | ||||||
Name of subsidiary | GDC REIT Inc. (f.k.a. Alset Payment Inc.) | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Alset World Pte Ltd [Member] | ||||||
Name of subsidiary | Alset World Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 76.80% | |||||
Bio Health Water Inc [Member] | ||||||
Name of subsidiary | BioHealth Water Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Impact Bio Health Pte.Ltd [Member] | ||||||
Name of subsidiary | Impact BioHealth Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.80% | ||||
American Home REIT Inc [Member] | ||||||
Name of subsidiary | American Home REIT Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Alset Solar Inc [Member] | ||||||
Name of subsidiary | Alset Solar Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 68.30% | 61.50% | ||||
HWHKOR Inc [Member] | ||||||
Name of subsidiary | HWH KOR Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Open House Inc [Member] | ||||||
Name of subsidiary | Open House Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | 76.80% | ||||
Open Rental Inc [Member] | ||||||
Name of subsidiary | Open Rental Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | 76.80% | ||||
Hapi Cafe Inc (Nevada) [Member] | ||||||
Name of subsidiary | Hapi Cafe Inc. (Nevada) | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | 76.80% | ||||
Global Solar REIT Inc [Member] | ||||||
Name of subsidiary | Global Solar REIT Inc. | |||||
Ownership percentage | 100% | 76.80% | ||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Open Biz Inc [Member] | ||||||
Name of subsidiary | OpenBiz Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | 76.80% | ||||
Hapi Cafe Inc (Texas) [Member] | ||||||
Name of subsidiary | Hapi Cafe Inc. (Texas) | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 100% | ||||
HWH (S) Pte Ltd [Member] | ||||||
Name of subsidiary | HWH (S) Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.80% | ||||
True Partner International Limited [Member] | ||||||
Name of subsidiary | True Partner International Limited | |||||
State or other jurisdiction of incorporation or organization | Hong Kong | |||||
Ownership percentage | 100% | |||||
Liquid Value Development Pte Ltd [Member] | ||||||
Name of subsidiary | LiquidValue Development Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 100% | 100% | ||||
LiquidValue Development Limited [Member] | ||||||
Name of subsidiary | LiquidValue Development Limited | |||||
State or other jurisdiction of incorporation or organization | Hong Kong | |||||
Ownership percentage | 100% | 100% | ||||
EPowerTech Inc [Member] | ||||||
Name of subsidiary | EPowerTech Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | 100% | ||||
Alset EPower Inc [Member] | ||||||
Name of subsidiary | Alset EPower Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | 100% | ||||
AHR Asset Management Inc [Member] | ||||||
Name of subsidiary | AHR Asset Management Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
HWH World Inc (Nevada) [Member] | ||||||
Name of subsidiary | HWH World Inc. (Nevada) | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Alset F&B Holdings Pte Inc [Member] | ||||||
Name of subsidiary | Alset F&B Holdings Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Credas Capital Pte Ltd [Member] | ||||||
Name of subsidiary | Credas Capital Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | [1] | 42.70% | 38.40% | |||
Credas CapitalGmbh [Member] | ||||||
Name of subsidiary | Credas Capital GmbH | |||||
State or other jurisdiction of incorporation or organization | Switzerland | |||||
Ownership percentage | [1] | 42.70% | 38.40% | |||
Smart Reward Express Limited [Member] | ||||||
Name of subsidiary | Smart Reward Express Limited | |||||
State or other jurisdiction of incorporation or organization | Hong Kong | |||||
Ownership percentage | 50% | 38.30% | [1] | |||
AHR Texas Two LLC [Member] | ||||||
Name of subsidiary | AHR Texas Two LLC | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
AHR Black Oak One LLC [Member] | ||||||
Name of subsidiary | AHR Black Oak One LLC | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Hapi Air Inc [Member] | ||||||
Name of subsidiary | Hapi Air Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 92.70% | 88.40% | ||||
AHR Texas Three LLC [Member] | ||||||
Name of subsidiary | AHR Texas Three, LLC | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | 76.80% | ||||
Alset Capital Pte Ltd [Member] | ||||||
Name of subsidiary | Alset Capital Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 100% | 100% | ||||
HapiCafe Korea Inc [Member] | ||||||
Name of subsidiary | Hapi Cafe Korea, Inc. | |||||
State or other jurisdiction of incorporation or organization | Korea | |||||
Ownership percentage | 85.40% | 100% | ||||
Green Energy Inc [Member] | ||||||
Name of subsidiary | Green Energy Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | 100% | ||||
Green Energy Management Inc [Member] | ||||||
Name of subsidiary | Green Energy Management Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | 100% | ||||
Alset Metaverse Inc [Member] | ||||||
Name of subsidiary | Alset Metaverse Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 97.20% | 95.60% | ||||
Alset Management Group Inc [Member] | ||||||
Name of subsidiary | Alset Management Group Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 83.40% | 88.20% | ||||
Alset Acquisition Sponsor LLC [Member] | ||||||
Name of subsidiary | Alset Acquisition Sponsor, LLC | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 93.40% | 79.60% | ||||
Alset Capital Acquisition Corp [Member] | ||||||
Name of subsidiary | Alset Capital Acquisition Corp. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 23.40% | 79.60% | ||||
Alset Spac Group Inc [Member] | ||||||
Name of subsidiary | Alset Spac Group Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 93.40% | 79.60% | ||||
Alset Mining Pte Ltd [Member] | ||||||
Name of subsidiary | Alset Mining Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | |||||
Alset Inc [Member] | ||||||
Name of subsidiary | Alset Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | |||||
Hapi Travel Pte Ltd [Member] | ||||||
Name of subsidiary | Hapi Travel Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | |||||
Hapi Wealth Builder Pte Ltd [Member] | ||||||
Name of subsidiary | Hapi WealthBuilder Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | |||||
HWH Marketing Place Pte Ltd [Member] | ||||||
Name of subsidiary | HWH Marketplace Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | |||||
HWH International Inc Nevada [Member] | ||||||
Name of subsidiary | HWH International Inc. (Nevada) | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | |||||
Hapi Cafe SG Pte [Member] | ||||||
Name of subsidiary | Hapi Cafe SG Pte. Ltd. | |||||
State or other jurisdiction of incorporation or organization | Singapore | |||||
Ownership percentage | 85.40% | |||||
Alset Reits Inc [Member] | ||||||
Name of subsidiary | Alset Reits Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | |||||
Roboticg Home Inc [Member] | ||||||
Name of subsidiary | Robotic gHome Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 76.90% | |||||
HWH Merger Sub Inc [Member] | ||||||
Name of subsidiary | HWH Merger Sub, Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 85.40% | |||||
Alset home REIT Inc [Member] | ||||||
Name of subsidiary | Alset Home REIT Inc. | |||||
State or other jurisdiction of incorporation or organization | United States of America | |||||
Ownership percentage | 100% | |||||
[1]Although the Company indirectly holds percentage of shares of these entities less than 50%, the subsidiaries of the Company directly hold more than 50% of shares of these entities, and therefore, they are still consolidated into the Company. |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 1 Months Ended | 3 Months Ended | 4 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Oct. 17, 2022 shares | Jul. 12, 2022 USD ($) shares | Jun. 10, 2022 USD ($) | Mar. 15, 2022 USD ($) | Feb. 03, 2022 USD ($) $ / shares shares | Jan. 27, 2022 shares | Sep. 08, 2021 USD ($) shares | Jun. 14, 2021 USD ($) shares | May 13, 2021 USD ($) shares | Apr. 12, 2021 USD ($) shares | Mar. 18, 2021 USD ($) | Mar. 12, 2021 USD ($) $ / shares shares | Feb. 26, 2021 USD ($) $ / shares | Oct. 15, 2020 USD ($) shares | Sep. 30, 2020 shares | Sep. 08, 2020 USD ($) shares | Sep. 30, 2022 USD ($) $ / shares | Jul. 31, 2022 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Jun. 14, 2021 USD ($) shares | Sep. 30, 2022 USD ($) $ / shares | Sep. 30, 2022 USD ($) $ / shares | Jun. 30, 2022 USD ($) shares | Sep. 30, 2021 USD ($) shares | Jun. 30, 2021 USD ($) shares | Dec. 31, 2021 USD ($) $ / shares | Sep. 30, 2022 USD ($) $ / shares shares | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) $ / shares shares | Nov. 29, 2023 USD ($) | Sep. 30, 2022 AUD ($) | Jul. 14, 2022 USD ($) | Oct. 29, 2021 USD ($) | Jun. 10, 2021 USD ($) | May 31, 2021 shares | Apr. 20, 2021 | Dec. 31, 2020 USD ($) | Mar. 02, 2020 USD ($) | |
Number of warrant purchased | shares | 8,487,324 | ||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||||||
Shares issued per share | $ / shares | $ 10.03 | ||||||||||||||||||||||||||||||||||||||
Beneficial conversion feature value | $ 50,770,192 | ||||||||||||||||||||||||||||||||||||||
Debt conversion instrument, shares issued | shares | 10,000,000 | ||||||||||||||||||||||||||||||||||||||
Cash equivalents | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||||||||||||||||||||||||||
Restricted cash | 630,285 | 630,285 | 630,285 | $ 4,996,543 | 630,285 | $ 4,996,543 | |||||||||||||||||||||||||||||||||
Account receivables | 171,380 | 171,380 | 171,380 | 39,622 | 171,380 | 39,622 | |||||||||||||||||||||||||||||||||
Accounts receivable, net | 0 | 0 | 0 | 2,500 | 0 | 2,500 | |||||||||||||||||||||||||||||||||
Accounts receivable, allowance of doubtful accounts | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||
Notes receivable, related parties | 2,674,074 | 2,674,074 | 2,674,074 | 12,792,671 | 2,674,074 | 12,792,671 | |||||||||||||||||||||||||||||||||
Invested amount | 79,486,590 | 79,486,590 | 79,486,590 | 82,645,469 | 79,486,590 | 82,645,469 | |||||||||||||||||||||||||||||||||
Gain on loss on investment | $ 74,827 | ||||||||||||||||||||||||||||||||||||||
Investment at fair value | 30,176,538 | 30,176,538 | 30,176,538 | 35,327,987 | 30,176,538 | 35,327,987 | |||||||||||||||||||||||||||||||||
Cost of investment | 98,129 | 98,129 | 98,129 | 99,216 | $ 98,129 | $ 99,216 | |||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | shares | |||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | 33,889,304 | $ 39,268,580 | |||||||||||||||||||||||||||||||||||||
Additional paid in capital | 322,318,500 | 322,318,500 | 322,318,500 | 296,181,977 | $ 322,318,500 | $ 296,181,977 | |||||||||||||||||||||||||||||||||
Unrealized loss on securities investment | 21,773,223 | 35,972,445 | |||||||||||||||||||||||||||||||||||||
Investment in capital | 21,232,707 | 21,232,707 | 21,232,707 | 21,232,707 | |||||||||||||||||||||||||||||||||||
Convertible debt, fair value disclosures | 9,799 | 9,799 | |||||||||||||||||||||||||||||||||||||
Payment of related parties | 840,000 | ||||||||||||||||||||||||||||||||||||||
Notes payable related parties | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||
Transaction loss | (446,104) | ||||||||||||||||||||||||||||||||||||||
Capitalized construction costs | 2,900,000 | 1,800,000 | 5,900,000 | 3,200,000 | |||||||||||||||||||||||||||||||||||
Payments for rent | 30,998,258 | ||||||||||||||||||||||||||||||||||||||
Stock-based compensation | 0 | 73,292 | 0 | 73,292 | |||||||||||||||||||||||||||||||||||
Foreign currency transaction gain loss | 132,092 | 578,903 | 2,617,896 | 1,842,128 | |||||||||||||||||||||||||||||||||||
Other comprehensive loss | 520,339 | $ 1,238,356 | 3,729,724 | $ 4,077,987 | |||||||||||||||||||||||||||||||||||
Non controlling interest | 12,015,513 | 12,015,513 | 12,015,513 | 21,912,268 | 12,015,513 | 21,912,268 | |||||||||||||||||||||||||||||||||
Capitalized financing costs | 3,247,739 | $ 3,247,739 | $ 3,247,739 | 3,247,739 | 3,247,739 | 3,247,739 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||||||||||||||||||
Shares issued for acquisition | shares | 13,834,643 | ||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Sponsor [Member] | |||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | shares | 473,750 | ||||||||||||||||||||||||||||||||||||||
Purchase price of private placement amount | $ 4,737,500 | ||||||||||||||||||||||||||||||||||||||
Alset Capital Acquisition Corp [Member] | |||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | shares | 1,125,000 | ||||||||||||||||||||||||||||||||||||||
Alset Capital Acquisition Corp [Member] | |||||||||||||||||||||||||||||||||||||||
Shares issued per share | $ / shares | $ 10 | ||||||||||||||||||||||||||||||||||||||
Shares issued for acquisition | shares | 7,500,000 | ||||||||||||||||||||||||||||||||||||||
Gain on loss on investment | $ 82,582 | ||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 476,250 | ||||||||||||||||||||||||||||||||||||||
Additional paid in capital | $ 2,830,961 | 2,830,961 | |||||||||||||||||||||||||||||||||||||
Unrealized loss on securities investment | 237,578 | $ 237,578 | |||||||||||||||||||||||||||||||||||||
Ownership percentage | 100% | 100% | 100% | 100% | 100% | ||||||||||||||||||||||||||||||||||
HWH World [Member] | |||||||||||||||||||||||||||||||||||||||
Ownership percentage | 19% | 19% | 19% | 19% | 19% | ||||||||||||||||||||||||||||||||||
Payment of related parties | $ 187,500 | ||||||||||||||||||||||||||||||||||||||
HWH World Co [Member] | |||||||||||||||||||||||||||||||||||||||
Ownership percentage | 51% | 51% | 51% | 51% | 51% | ||||||||||||||||||||||||||||||||||
AMRE and AMRE Management [Member] | |||||||||||||||||||||||||||||||||||||||
Ownership percentage | 80.80% | 80.80% | 80.80% | 80.80% | 80.80% | ||||||||||||||||||||||||||||||||||
American Pacific Bancorp Inc [Member] | |||||||||||||||||||||||||||||||||||||||
Invested amount | $ 31,380,155 | $ 31,380,155 | $ 31,380,155 | 30,801,129 | $ 31,380,155 | 30,801,129 | |||||||||||||||||||||||||||||||||
Gain on loss on investment | 419,005 | 51,999 | 579,026 | ||||||||||||||||||||||||||||||||||||
Cost of investment | $ 2,600,000 | ||||||||||||||||||||||||||||||||||||||
Deconsolidation description | As a result of the new share issuances, the Company’s ownership percentage of APB fell below 50% to 41.3% and the entity was deconsolidated in accordance with ASC 810-10. Upon deconsolidation the Company elected to apply the equity method accounting as the Company still retained significant influence. As a result of the deconsolidation, the Company recognized gain of approximately $28.2 million. | ||||||||||||||||||||||||||||||||||||||
Gain on deconsolidation | $ 28,200,000 | ||||||||||||||||||||||||||||||||||||||
Equity method investement | 30,800,000 | ||||||||||||||||||||||||||||||||||||||
Net assets | $ 2,900,000 | ||||||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | |||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Related Parties | 200,000 | 200,000 | 200,000 | 200,000 | $ 200,000 | 200,000 | |||||||||||||||||||||||||||||||||
Ballenger Projects [Member] | |||||||||||||||||||||||||||||||||||||||
Risk percentage | 18% | 70% | |||||||||||||||||||||||||||||||||||||
Brokerage [Member] | |||||||||||||||||||||||||||||||||||||||
Restricted cash | 321,140 | 321,140 | 321,140 | 304,570 | $ 321,140 | 304,570 | |||||||||||||||||||||||||||||||||
Novum Alpha Fund [Member] | |||||||||||||||||||||||||||||||||||||||
Invested amount | $ 100,000 | $ 100,000 | |||||||||||||||||||||||||||||||||||||
Sharing Services Convertible Note [Member] | |||||||||||||||||||||||||||||||||||||||
Invested amount | 50,000 | 50,000 | 50,000 | 50,000 | |||||||||||||||||||||||||||||||||||
Debt instrument, face amount | $ 50,000 | ||||||||||||||||||||||||||||||||||||||
Iinterests receivable | $ 28,636 | ||||||||||||||||||||||||||||||||||||||
AUSTRALIA | |||||||||||||||||||||||||||||||||||||||
Collateral deposit | $ 50,000 | ||||||||||||||||||||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||||||||||||||||||
Payments for rent | $ 2,300 | ||||||||||||||||||||||||||||||||||||||
Property, plant and equipment, useful life years | 10 years | ||||||||||||||||||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||||||||||||||||||
Payments for rent | $ 23,020 | ||||||||||||||||||||||||||||||||||||||
Property, plant and equipment, useful life years | 27 years 6 months | ||||||||||||||||||||||||||||||||||||||
Manufacturers and Traders Trust Company [Member] | |||||||||||||||||||||||||||||||||||||||
Line of credit collateral | $ 2,300,000 | ||||||||||||||||||||||||||||||||||||||
Line of credit facility collateral outstanding | $ 300,000 | ||||||||||||||||||||||||||||||||||||||
Escrow Deposit | 309,145 | 309,145 | 309,145 | 4,399,984 | $ 309,145 | 4,399,984 | |||||||||||||||||||||||||||||||||
Manufacturers and Traders Trust Company [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||
Deposit securing the loan | 2,600,000 | 2,600,000 | 2,600,000 | 2,600,000 | |||||||||||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | shares | 35,319,290 | 17,456,490 | 8,389,324 | ||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 35,319 | $ 17,457 | $ 8,389 | ||||||||||||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||
Purchase of stock | shares | 4,775,523 | ||||||||||||||||||||||||||||||||||||||
Series A Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||
Purchase of stock | shares | 6,666,700 | ||||||||||||||||||||||||||||||||||||||
Stock cost | $ 40,000,200 | ||||||||||||||||||||||||||||||||||||||
Common Class B [Member] | Private Placement [Member] | Sponsor [Member] | |||||||||||||||||||||||||||||||||||||||
Issuance of shares of common stock | shares | 2,156,250 | ||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 25,000 | ||||||||||||||||||||||||||||||||||||||
Alset CPN [Member] | |||||||||||||||||||||||||||||||||||||||
Debt conversion instrument, amount | $ 63,920,128 | $ 63,920,128 | |||||||||||||||||||||||||||||||||||||
Accrued interest | $ 306,438 | $ 306,438 | $ 306,438 | ||||||||||||||||||||||||||||||||||||
Debt conversion instrument, shares issued | shares | 9,163,965 | 9,163,965 | |||||||||||||||||||||||||||||||||||||
Alset CPN [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||
Debt conversion instrument, shares issued | shares | 9,163,965 | ||||||||||||||||||||||||||||||||||||||
Alset CPN [Member] | Series B Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||
Debt conversion instrument, shares issued | shares | 2,123 | 2,123 | 2,123 | ||||||||||||||||||||||||||||||||||||
Value Exchange International [Member] | |||||||||||||||||||||||||||||||||||||||
Shares issued for acquisition | shares | 6,500,000 | ||||||||||||||||||||||||||||||||||||||
Cost of investment in securities at fair value | $ 650,000 | ||||||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | |||||||||||||||||||||||||||||||||||||||
Warrants and rights outstanding | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 0 | 0 | 130,000 | 0 | 130,000 | |||||||||||||||||||||||||||||||||
Notes receivable, related parties | $ 200,000 | $ 200,000 | |||||||||||||||||||||||||||||||||||||
Fair value of warrants | $ 0 | 0 | |||||||||||||||||||||||||||||||||||||
Debt instrument, face amount | $ 8,350,000 | $ 200,000 | |||||||||||||||||||||||||||||||||||||
Debt instrument, interest percentage | 8% | ||||||||||||||||||||||||||||||||||||||
Notes payable related parties | 200,000 | ||||||||||||||||||||||||||||||||||||||
Unrealized loss on security investment | $ 2,157,984 | ||||||||||||||||||||||||||||||||||||||
Vivacitas [Member] | |||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 1 | $ 1 | $ 1 | $ 1 | |||||||||||||||||||||||||||||||||||
Number of shares purchased | shares | 250,000 | ||||||||||||||||||||||||||||||||||||||
Fair value of stock option | $ 0 | ||||||||||||||||||||||||||||||||||||||
Liquid Value Asset Management Limited [Member] | |||||||||||||||||||||||||||||||||||||||
Loan lend | $ 3,000,000 | $ 3,000,000 | $ 3,000,000 | $ 3,000,000 | |||||||||||||||||||||||||||||||||||
Investment at fair value | 3,032,185 | 3,032,185 | 3,032,185 | $ 2,987,039 | 3,032,185 | $ 2,987,039 | |||||||||||||||||||||||||||||||||
Document Securities Systems Inc [Member] | |||||||||||||||||||||||||||||||||||||||
Gain on sale of investments | $ 2,480,000 | ||||||||||||||||||||||||||||||||||||||
Cost method investments, original cost | $ 2,279,872 | ||||||||||||||||||||||||||||||||||||||
Document Securities Systems Inc [Member] | Convertible Debt [Member] | |||||||||||||||||||||||||||||||||||||||
Debt conversion instrument, shares issued | shares | 21,366,177 | ||||||||||||||||||||||||||||||||||||||
SeD Capital Pte Ltd [Member] | Novum Alpha Pte Ltd [Member] | |||||||||||||||||||||||||||||||||||||||
Joint venture | 50% | ||||||||||||||||||||||||||||||||||||||
SeD Capital Pte Ltd [Member] | Credas Capital Pte Ltd [Member] | |||||||||||||||||||||||||||||||||||||||
Joint venture | 50% | ||||||||||||||||||||||||||||||||||||||
Ketomei Pte Ltd [Member] | |||||||||||||||||||||||||||||||||||||||
Additional investment | $ 179,595 | ||||||||||||||||||||||||||||||||||||||
Vector Com co. Ltd [Member] | |||||||||||||||||||||||||||||||||||||||
Invested amount | $ 88,599 | ||||||||||||||||||||||||||||||||||||||
Debt instrument, face amount | $ 88,599 | $ 88,599 | $ 88,599 | $ 88,599 | |||||||||||||||||||||||||||||||||||
Debt instrument, interest percentage | 2% | ||||||||||||||||||||||||||||||||||||||
Debt instrument, term | 2 years | ||||||||||||||||||||||||||||||||||||||
Debt instrument, convertible, conversion price | $ / shares | $ 21.26 | ||||||||||||||||||||||||||||||||||||||
Amarantus Bio Science Holdings [Member] | |||||||||||||||||||||||||||||||||||||||
Ownership in fair value investment rate | 4.30% | 4.30% | 4.30% | 4.30% | 4.30% | ||||||||||||||||||||||||||||||||||
Trust Partner [Member] | |||||||||||||||||||||||||||||||||||||||
Ownership in fair value investment rate | 15.50% | 15.50% | |||||||||||||||||||||||||||||||||||||
Value Exchange International [Member] | |||||||||||||||||||||||||||||||||||||||
Ownership in fair value investment rate | 18.10% | 18.10% | 18.10% | 18.10% | 18.10% | ||||||||||||||||||||||||||||||||||
Document Securities Systems Inc [Member] | |||||||||||||||||||||||||||||||||||||||
Onwership percentage | 45.18% | 45.18% | 45.18% | 24.90% | 45.18% | 24.90% | 45.18% | ||||||||||||||||||||||||||||||||
Holista Coll Tech Limited [Member] | |||||||||||||||||||||||||||||||||||||||
Ownership in fair value investment rate | 15.50% | 15.50% | 15.50% | 15.50% | 15.50% | ||||||||||||||||||||||||||||||||||
American Premium Water Corp [Member] | |||||||||||||||||||||||||||||||||||||||
Onwership percentage | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% | ||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | |||||||||||||||||||||||||||||||||||||||
Onwership percentage | 15.80% | 15.80% | 15.80% | 15.80% | 15.80% | ||||||||||||||||||||||||||||||||||
Nervotec Pte Ltd [Member] | |||||||||||||||||||||||||||||||||||||||
Shares issued for acquisition | shares | 1,666 | ||||||||||||||||||||||||||||||||||||||
Ownership in investment at cost | 1.45% | ||||||||||||||||||||||||||||||||||||||
Cost of stock | $ 37,826 | ||||||||||||||||||||||||||||||||||||||
Hyten Global Thailand Co Ltd [Member] | |||||||||||||||||||||||||||||||||||||||
Shares issued for acquisition | shares | 3,800 | ||||||||||||||||||||||||||||||||||||||
Ownership in investment at cost | 19% | ||||||||||||||||||||||||||||||||||||||
Cost of stock | $ 42,562 | ||||||||||||||||||||||||||||||||||||||
K Beauty Research Lab Co Ltd [Member] | |||||||||||||||||||||||||||||||||||||||
Onwership percentage | 18% | 18% | |||||||||||||||||||||||||||||||||||||
Cost of investment | $ 19,609 | $ 19,609 | |||||||||||||||||||||||||||||||||||||
Alset Capital Acquisition Crop [Member] | |||||||||||||||||||||||||||||||||||||||
Onwership percentage | 23.40% | 23.40% | 23.40% | 23.40% | 23.40% | ||||||||||||||||||||||||||||||||||
Debt instrument, face amount | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||||||||||||||||||||||||||||
Alset Capital Acquisition Crop [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||||||||||||||||||||
Onwership percentage | 23.40% | ||||||||||||||||||||||||||||||||||||||
Sponsor [Member] | |||||||||||||||||||||||||||||||||||||||
Onwership percentage | 10% | 10% | 10% | 10% | 10% | ||||||||||||||||||||||||||||||||||
Ketomei Pte Ltd [Member] | |||||||||||||||||||||||||||||||||||||||
Onwership percentage | 28% | ||||||||||||||||||||||||||||||||||||||
Invested amount | $ 217,321 | $ 217,321 | $ 217,321 | $ 217,321 | |||||||||||||||||||||||||||||||||||
Gain on loss on investment | 5,937 | 38,996 | |||||||||||||||||||||||||||||||||||||
Amount lent | $ 76,723 | ||||||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | |||||||||||||||||||||||||||||||||||||||
Receivables net | 0 | 0 | 0 | $ 8,901,285 | 0 | $ 8,901,285 | |||||||||||||||||||||||||||||||||
Transaction loss | $ 1,089,675 | ||||||||||||||||||||||||||||||||||||||
Unrealized loss on security investment | 2,157,984 | ||||||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Related Parties | $ 8,350,000 | ||||||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | Loan One [Member] | |||||||||||||||||||||||||||||||||||||||
Onwership percentage | 3.40% | 3.40% | |||||||||||||||||||||||||||||||||||||
Debt instrument, interest percentage | 8% | 8% | |||||||||||||||||||||||||||||||||||||
Loans and Leases Receivable, Related Parties | $ 8,350,000 | $ 8,350,000 | $ 8,350,000 | ||||||||||||||||||||||||||||||||||||
Notes payable related parties | $ 200,000 | ||||||||||||||||||||||||||||||||||||||
AMRE and AMRE Management [Member] | |||||||||||||||||||||||||||||||||||||||
Onwership percentage | 15.80% | ||||||||||||||||||||||||||||||||||||||
Liquid Value Development Pte Ltd [Member] | |||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, value | $ 173,395 | ||||||||||||||||||||||||||||||||||||||
American Pacific Bancorp [Member] | |||||||||||||||||||||||||||||||||||||||
Shares issued for acquisition | shares | 250,000 | ||||||||||||||||||||||||||||||||||||||
American Pacific Bancorp [Member] | Hengfeng Finance Limited [Member] | |||||||||||||||||||||||||||||||||||||||
Shares issued for acquisition | shares | 3,500,001 | ||||||||||||||||||||||||||||||||||||||
Onwership percentage | 100% | ||||||||||||||||||||||||||||||||||||||
Purchase price | $ 1,500,000 | ||||||||||||||||||||||||||||||||||||||
Variable Interest Entity, Primary Beneficiary [Member] | |||||||||||||||||||||||||||||||||||||||
Receivables net | $ 236,699 | 236,699 | $ 236,699 | 236,699 | 236,699 | 236,699 | |||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | |||||||||||||||||||||||||||||||||||||||
Accounts payable, current | $ 63,920,129 | ||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | ||||||||||||||||||||||||||||||||||||||
Shares issued per share | $ / shares | $ 5.59 | ||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Alset International Limited [Member] | |||||||||||||||||||||||||||||||||||||||
Number of warrant purchased | shares | 1,500,000,000 | ||||||||||||||||||||||||||||||||||||||
Warrants and rights outstanding | $ 28,363,966 | ||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Liquid Value Development Pte Ltd [Member] | |||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, value | 173,395 | ||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | True Partner Capital Holding Limited [Member] | |||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, value | $ 6,729,629 | ||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, shares | shares | 62,122,908 | ||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | American Pacific Bancorp Inc [Member] | |||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, value | $ 28,653,138 | ||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, shares | shares | 4,775,523 | ||||||||||||||||||||||||||||||||||||||
Loan Agreement [Member] | National Australian Bank Limited [Member] | |||||||||||||||||||||||||||||||||||||||
Collateral deposit | $ 36,316 | 36,316 | |||||||||||||||||||||||||||||||||||||
Front Foot Benefit Assessments [Member] | |||||||||||||||||||||||||||||||||||||||
Deferred revenue | $ 9,968 | $ 182,813 | 126,055 | $ 431,458 | |||||||||||||||||||||||||||||||||||
Front Foot Benefit Assessments [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||
Proceeds from sale of property, plant, and equipment | 3,000 | ||||||||||||||||||||||||||||||||||||||
Front Foot Benefit Assessments [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||
Proceeds from sale of property, plant, and equipment | 4,500 | ||||||||||||||||||||||||||||||||||||||
Deferred Revenue [Member] | |||||||||||||||||||||||||||||||||||||||
Deferred revenue | $ 65,091 | $ 728,343 |
CONCENTRATIONS (Details Narrati
CONCENTRATIONS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Concentration Risk [Line Items] | ||||
Uninsured cash | $ 20,252,709 | $ 57,905,303 | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer One [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 95% | 42% | 96% | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer Two [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 5% | 10% | 4% | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer Three [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 48% |
SCHEDULE OF SEGMENT INFORMATION
SCHEDULE OF SEGMENT INFORMATION (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Segment Reporting Information [Line Items] | |||||
Revenue | $ 721,905 | $ 4,795,567 | $ 3,600,482 | $ 16,945,913 | |
Cost of Sales | (2,478,596) | (8,510,205) | |||
Gross Margin | 1,121,886 | 8,435,708 | |||
Operating Expenses | (6,500,701) | (13,466,414) | |||
Operating (Loss) Income | (2,071,012) | 51,582 | (5,378,815) | (5,030,706) | |
Other Expense | (11,163,538) | $ (8,126,066) | (25,546,935) | (87,293,906) | |
Net Loss Before Income Tax | (30,925,750) | (92,324,612) | |||
Cash and restricted cash | 23,235,826 | 23,235,826 | $ 60,802,179 | ||
Total assets | 164,664,506 | 164,664,506 | 184,210,143 | ||
Real Estate Segment[Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 2,494,707 | 12,026,069 | |||
Cost of Sales | (1,880,914) | (8,291,698) | |||
Gross Margin | 613,793 | 3,734,371 | |||
Operating Expenses | (1,988,323) | (901,236) | |||
Operating (Loss) Income | (1,374,530) | 2,833,135 | |||
Other Expense | 26,505 | (9,063) | |||
Net Loss Before Income Tax | (1,348,025) | 2,824,072 | |||
Cash and restricted cash | 2,678,530 | 2,678,530 | 7,493,921 | ||
Total assets | 49,820,288 | 49,820,288 | 55,465,600 | ||
Digital Transformation Technology [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 14,066 | ||||
Cost of Sales | (4,574) | ||||
Gross Margin | 9,492 | ||||
Operating Expenses | (255,764) | (173,594) | |||
Operating (Loss) Income | (246,272) | (173,594) | |||
Other Expense | (1,359,913) | 403,000 | |||
Net Loss Before Income Tax | (1,606,185) | 229,406 | |||
Cash and restricted cash | 389,118 | 389,118 | 245,780 | ||
Total assets | 1,273,132 | 1,273,132 | 2,199,466 | ||
Biohealth Business [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 771,847 | 4,919,844 | |||
Cost of Sales | (512,931) | (218,507) | |||
Gross Margin | 258,916 | 4,701,337 | |||
Operating Expenses | (587,051) | (3,451,152) | |||
Operating (Loss) Income | (328,135) | 1,250,185 | |||
Other Expense | (3,535,998) | (33,960,503) | |||
Net Loss Before Income Tax | (3,864,133) | (32,710,318) | |||
Cash and restricted cash | 1,698,868 | 1,698,868 | 2,629,464 | ||
Total assets | 6,074,039 | 6,074,039 | 11,056,779 | ||
Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 319,862 | ||||
Cost of Sales | (80,177) | ||||
Gross Margin | 239,685 | ||||
Operating Expenses | (3,669,563) | (8,940,432) | |||
Operating (Loss) Income | (3,429,878) | (8,940,432) | |||
Other Expense | (20,677,529) | (53,727,340) | |||
Net Loss Before Income Tax | (24,107,407) | $ (62,667,772) | |||
Cash and restricted cash | 18,469,310 | 18,469,310 | 50,433,014 | ||
Total assets | $ 107,497,047 | $ 107,497,047 | $ 115,488,298 |
SCHEDULE OF REAL ESTATE ASSETS
SCHEDULE OF REAL ESTATE ASSETS (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Real Estate [Abstract] | ||
Construction in Progress | $ 12,155,652 | $ 8,597,023 |
Land Held for Development | 7,943,126 | 7,098,104 |
Rental Properties, net | 31,485,036 | 24,820,253 |
Total Real Estate Assets | $ 51,583,814 | $ 40,515,380 |
SUMMARY OF SINGLE FAMILY RESIDE
SUMMARY OF SINGLE FAMILY RESIDENTIAL PROPERTIES (Details) | 9 Months Ended | |
Sep. 30, 2022 USD ($) Integer | Dec. 31, 2021 Integer | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | ||
Aggregate investment | $ 31,000,000 | |
Single Family [Member] | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | ||
Number of Homes | Integer | 132 | 109 |
Aggregate investment | $ 30,998,258 | |
Average Investment Per Home | $ 234,835 |
REAL ESTATE ASSETS (Details Nar
REAL ESTATE ASSETS (Details Narrative) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 USD ($) Integer | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) Integer | Sep. 30, 2021 USD ($) | Dec. 31, 2021 Integer | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
Aggregate investment | $ 31,000,000 | $ 31,000,000 | |||
Depreciation | $ 161,182 | $ 38,533 | $ 474,936 | $ 53,755 | |
Single Family [Member] | |||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
Number of Homes | Integer | 132 | 132 | 109 | ||
Aggregate investment | $ 30,998,258 | $ 30,998,258 |
BUILDER DEPOSITS (Details Narra
BUILDER DEPOSITS (Details Narrative) - USD ($) | Nov. 30, 2015 | Sep. 30, 2022 | Dec. 31, 2021 | Apr. 28, 2020 | Jan. 03, 2019 |
Security deposit liability | $ 31,553 | ||||
Lot Purchase Agreements [Member] | |||||
Security deposit liability | $ 0 | $ 31,553 | |||
SeD Maryland Development LLC [Member] | Lot Purchase Agreements [Member] | |||||
Number of lots | 479 | ||||
Purchase Price | $ 64,000,000 | ||||
Percentage of increase in price of lots | 3% | ||||
Security deposit liability | $ 5,600,000 | $ 220,000 | $ 100,000 | ||
Security deposit liability | 9.90% |
SCHEDULE OF NOTES PAYABLE (Deta
SCHEDULE OF NOTES PAYABLE (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Short-Term Debt [Line Items] | ||
Total notes payable | $ 193,645 | $ 317,671 |
P P P Loan [Member] | ||
Short-Term Debt [Line Items] | ||
Total notes payable | 68,502 | |
Australia Loan [Member] | ||
Short-Term Debt [Line Items] | ||
Total notes payable | 162,696 | |
Hire purchase one [Member] | ||
Short-Term Debt [Line Items] | ||
Total notes payable | 71,595 | 86,473 |
Hire Purchase Two [Member] | ||
Short-Term Debt [Line Items] | ||
Total notes payable | $ 122,050 |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | |||||||||||
Sep. 22, 2022 | Mar. 15, 2022 | May 28, 2021 | May 17, 2021 | Jun. 18, 2020 | Apr. 17, 2019 | Jan. 07, 2017 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Feb. 11, 2021 | Sep. 07, 2017 | |
Line of Credit Facility [Line Items] | |||||||||||||
Long-term line of credit | $ 300,000 | ||||||||||||
Loan processing fee | $ 381,823 | ||||||||||||
Collateral fee | $ 2,300,000 | ||||||||||||
Amortization of debt discount | $ 450,000 | $ 50,871,869 | |||||||||||
Paycheck Protection Program Loan [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Debt instrument, face amount | $ 68,502 | ||||||||||||
Debt instrument, interest rate, stated percentage | 1% | ||||||||||||
Percentage of forgiven debt amount | 60% | ||||||||||||
Hire Purchase Agreement [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Debt instrument, term | 84 months | ||||||||||||
SeD Maryland Development LLC [Member] | Loan Agreement [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Debt instrument, face amount | $ 8,000,000 | ||||||||||||
Line of credit facility, maximum borrowing capacity | 18,500,000 | ||||||||||||
Long-term line of credit | $ 900,000 | ||||||||||||
Line of credit facility, interest rate | 1.50% | ||||||||||||
Line of credit facility, collateral fees, amount | $ 2,600,000 | ||||||||||||
Line of credit facility, revolving credit conversion to term loan, description | outstanding balance of the revolving loan was $0 | ||||||||||||
Alset EHome Inc [Member] | Loan Agreement [Member] | Manufacturers and Traders Trust Company [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Line of credit facility, maximum borrowing capacity | $ 2,990,000 | ||||||||||||
Loan processing fee | $ 61,679 | ||||||||||||
Line of credit facility, expiration date | Jul. 01, 2022 | ||||||||||||
Proceeds from lines of credit | $ 664,810 | 664,810 | |||||||||||
Debt instrument, unamortized discount | $ 42,906 | ||||||||||||
Line of credit facility, increase, accrued interest | $ 25,225 | ||||||||||||
Amortization of debt discount | $ 42,907 | ||||||||||||
Alset EHome Inc [Member] | Loan Agreement [Member] | Manufacturers and Traders Trust Company [Member] | Minimum [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Long-term line of credit | $ 20,000,000 | ||||||||||||
SeD Perth Pty Ltd [Member] | Australia Loan [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Debt instrument, face amount | $ 460,000 | ||||||||||||
Line of credit facility, maximum borrowing capacity | $ 179,000 | ||||||||||||
Debt instrument, maturity date | Dec. 31, 2018 | Apr. 30, 2022 | |||||||||||
Deposits | $ 36,059 | ||||||||||||
Personal guarantee | $ 500,000 | ||||||||||||
SeD Perth Pty Ltd [Member] | Minimum [Member] | Australia Loan [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Debt instrument, interest rate, stated percentage | 4.12% | ||||||||||||
SeD Perth Pty Ltd [Member] | Maximum [Member] | Australia Loan [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Debt instrument, interest rate, stated percentage | 4.86% | ||||||||||||
Hong Leong Finance Limited [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Debt instrument, interest rate, stated percentage | 1.88% | ||||||||||||
Associated charges | $ 184,596 | ||||||||||||
Initial deposit | 78,640 | ||||||||||||
Monthly instalment | $ 1,300 | ||||||||||||
Debt instrument, term | 84 months | ||||||||||||
United Overseas Bank Limited [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Debt instrument, interest rate, stated percentage | 1.88% | ||||||||||||
Associated charges | $ 182,430 | ||||||||||||
Initial deposit | 66,020 | ||||||||||||
Monthly instalment | $ 1,472 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Aug. 04, 2022 USD ($) | Aug. 04, 2022 SGD ($) | Jul. 28, 2022 USD ($) | Jul. 12, 2022 USD ($) shares | May 17, 2022 USD ($) shares | Feb. 28, 2022 shares | Jan. 27, 2022 shares | Jan. 17, 2022 shares | Jun. 14, 2021 USD ($) shares | May 13, 2021 USD ($) shares | May 12, 2021 USD ($) shares | Mar. 18, 2021 USD ($) $ / shares shares | Mar. 12, 2021 USD ($) $ / shares shares | Nov. 24, 2020 USD ($) | Aug. 20, 2020 USD ($) shares | Jul. 17, 2020 USD ($) $ / shares shares | Mar. 02, 2020 USD ($) $ / shares | Jan. 01, 2018 USD ($) | Jan. 24, 2017 USD ($) | Jun. 30, 2022 USD ($) shares | Mar. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) $ / shares | Jun. 30, 2021 shares | Jun. 14, 2021 USD ($) shares | Sep. 30, 2022 USD ($) $ / shares | Sep. 30, 2022 USD ($) $ / shares | Mar. 31, 2022 USD ($) shares | Sep. 30, 2021 USD ($) | Mar. 31, 2021 USD ($) | Jun. 30, 2022 USD ($) shares | Sep. 30, 2022 USD ($) $ / shares | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) $ / shares | Nov. 29, 2023 USD ($) | Dec. 31, 2022 USD ($) | Aug. 31, 2022 USD ($) | Jun. 28, 2022 | Dec. 13, 2021 USD ($) | Oct. 29, 2021 USD ($) | May 31, 2021 shares | May 14, 2021 USD ($) | May 14, 2021 SGD ($) | Jan. 24, 2021 | Dec. 31, 2020 USD ($) | |
Number of warrant purchased | shares | 8,487,324 | |||||||||||||||||||||||||||||||||||||||||||
Payments to acquire equity securities, FV-NI | $ 8,479,968 | $ 19,308,318 | ||||||||||||||||||||||||||||||||||||||||||
Investment | $ 36,337,023 | $ 30,684,973 | $ 30,684,973 | $ 30,684,973 | $ 36,337,023 | |||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||||||||||||
Owned fair value | $ 35,327,987 | $ 30,176,538 | $ 30,176,538 | $ 30,176,538 | $ 35,327,987 | |||||||||||||||||||||||||||||||||||||||
Additional paid in capital adjustment | $ 3,274,060 | |||||||||||||||||||||||||||||||||||||||||||
Notes payable related parties | $ 0 | 0 | $ 0 | 0 | $ 0 | |||||||||||||||||||||||||||||||||||||||
Shares price | $ / shares | $ 10.03 | |||||||||||||||||||||||||||||||||||||||||||
Beneficial conversion feature value | $ 50,770,192 | |||||||||||||||||||||||||||||||||||||||||||
Shares purchase price | shares | 10,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Interest expenses | $ 330 | 316,615 | ||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Receivable from director | $ 1,746,279 | |||||||||||||||||||||||||||||||||||||||||||
Liquid Value Development Pte Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Equity method investment, ownership percentage | 100% | 100% | 100% | 100% | 100% | |||||||||||||||||||||||||||||||||||||||
Liquid Value Development Pte Ltd [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Equity method investment, ownership percentage | 15.80% | 15.80% | 15.80% | 15.80% | 15.80% | |||||||||||||||||||||||||||||||||||||||
Liquid Value Development Pte Ltd [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Equity method investment, ownership percentage | 3.40% | 3.40% | ||||||||||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Unrealized loss on security investment | $ 2,157,984 | |||||||||||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Loans and leases receivable related parties | $ 8,350,000 | |||||||||||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | Loan One [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Notes payable related parties | $ 200,000 | $ 200,000 | ||||||||||||||||||||||||||||||||||||||||||
Equity method investment, ownership percentage | 3.40% | 3.40% | ||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8% | 8% | ||||||||||||||||||||||||||||||||||||||||||
Loans and leases receivable related parties | $ 8,350,000 | $ 8,350,000 | $ 8,350,000 | |||||||||||||||||||||||||||||||||||||||||
SeD Perth Pty Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Equity method investment, ownership percentage | 76.80% | 85.40% | 85.40% | 85.40% | 76.80% | 100% | ||||||||||||||||||||||||||||||||||||||
HWH World Co [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Equity method investment, ownership percentage | 19% | 19% | 19% | |||||||||||||||||||||||||||||||||||||||||
Alset Investment Pte LTD [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 0 | $ 0 | ||||||||||||||||||||||||||||||||||||||||||
Alset Capital Acquisition Crop [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 0 | $ 0 | $ 0 | |||||||||||||||||||||||||||||||||||||||||
Equity method investment, ownership percentage | 23.40% | 23.40% | 23.40% | |||||||||||||||||||||||||||||||||||||||||
Liquid Value Development Pte Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, value | $ 173,395 | |||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||
Accounts payable, current | $ 63,920,129 | |||||||||||||||||||||||||||||||||||||||||||
Shares price | $ / shares | $ 5.59 | |||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Alset International Limited [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of warrant purchased | shares | 1,500,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants | $ 28,363,966 | |||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Liquid Value Development Pte Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, value | $ 173,395 | |||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | True Partner Capital Holding Limited [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, value | shares | 62,122,908 | |||||||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, value | $ 6,729,629 | |||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | American Pacific Bancorp Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, value | shares | 4,775,523 | |||||||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, value | $ 28,653,138 | |||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital adjustment | ||||||||||||||||||||||||||||||||||||||||||||
Shares conversion of convertible securities | shares | 10,000,000 | |||||||||||||||||||||||||||||||||||||||||||
True Partners Capital Holding Limited [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Purchase of stock | shares | 62,122,908 | 62,122,908 | ||||||||||||||||||||||||||||||||||||||||||
Stock cost | $ 6,729,629 | |||||||||||||||||||||||||||||||||||||||||||
Equity, fair value disclosure | 10,003,689 | |||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital adjustment | $ 3,274,060 | |||||||||||||||||||||||||||||||||||||||||||
Transaction loss | $ 446,104 | |||||||||||||||||||||||||||||||||||||||||||
True Partners Capital Holding Limited [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Purchase of stock | shares | 17,570,948 | |||||||||||||||||||||||||||||||||||||||||||
American Premium Water Corp [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Investment | 1,009,854 | $ 517,965 | $ 517,965 | $ 517,965 | 1,009,854 | |||||||||||||||||||||||||||||||||||||||
Contribution | 945,769 | |||||||||||||||||||||||||||||||||||||||||||
American Premium Water Corp [Member] | Stock and Warrant [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Contribution | 1,067,808 | |||||||||||||||||||||||||||||||||||||||||||
Liquid Value Development Pte Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Notes payable related parties | 820,113 | 0 | 0 | 0 | 820,113 | |||||||||||||||||||||||||||||||||||||||
SeD Perth Pty Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Notes payable related parties | 13,546 | 12,088 | 12,088 | 12,088 | 13,546 | |||||||||||||||||||||||||||||||||||||||
Chan Heng Fai [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Notes payable related parties | $ 1,333,429 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||
Stock repurchased during period, value | shares | 30,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Notes payable paid back amount | 1,333,429 | 1,333,429 | ||||||||||||||||||||||||||||||||||||||||||
Alset CPN [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, converted instrument, amount | $ 63,920,128 | $ 63,920,128 | ||||||||||||||||||||||||||||||||||||||||||
Interest payable | $ 306,438 | $ 306,438 | $ 306,438 | |||||||||||||||||||||||||||||||||||||||||
Shares purchase price | shares | 9,163,965 | 9,163,965 | ||||||||||||||||||||||||||||||||||||||||||
Alset CPN [Member] | Series B Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Shares purchase price | shares | 2,123 | 2,123 | 2,123 | |||||||||||||||||||||||||||||||||||||||||
Alset CPN [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Shares purchase price | shares | 9,163,965 | |||||||||||||||||||||||||||||||||||||||||||
MacKenzie Equity Partners LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Professional fees | $ 20,000 | $ 25,000 | 75,000 | $ 60,000 | $ 275,000 | $ 240,000 | ||||||||||||||||||||||||||||||||||||||
Related party transaction description | In addition, MacKenzie Equity Partners will be paid certain bonuses, including (i) a sum of $50,000 on June 30, 2022; (ii) a sum of $50,000 upon the successful financing of 100 homes owned by American Housing REIT Inc. with an entity not affiliated with SeD Development Management LLC (a subsidiary of the Company); and (iii) a sum of $50,000 upon the successful leasing of 30 homes in the Alset of Black Oak development | |||||||||||||||||||||||||||||||||||||||||||
Due to related party | 80,000 | 25,000 | 25,000 | $ 25,000 | 80,000 | |||||||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Exercise price | $ / shares | $ 5 | |||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Transaction loss | $ 1,089,675 | |||||||||||||||||||||||||||||||||||||||||||
Notes payable related parties | $ 200,000 | $ 200,000 | ||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Interest payable | 130,000 | 0 | 0 | 0 | 130,000 | |||||||||||||||||||||||||||||||||||||||
Principal amount | $ 200,000 | $ 8,350,000 | ||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8% | |||||||||||||||||||||||||||||||||||||||||||
Debt instrument maturity date description | payable in two | |||||||||||||||||||||||||||||||||||||||||||
Ipo price, description | The amount of the warrants equals to the note principal divided by the exercise price. If AMRE goes to IPO in the future and IPO price is less than $10.00 per share, the exercise price shall be adjusted downward to fifty percent (50%) of the IPO price | |||||||||||||||||||||||||||||||||||||||||||
Unrealized loss on security investment | 2,157,984 | |||||||||||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Shares conversion of convertible securities | shares | 167,938 | |||||||||||||||||||||||||||||||||||||||||||
Document Securities Systems Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Gain on sale of shares investment | $ 2,480,000 | |||||||||||||||||||||||||||||||||||||||||||
Original cost | $ 2,279,872 | |||||||||||||||||||||||||||||||||||||||||||
Document Securities Systems Inc [Member] | Convertible Debt [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Shares purchase price | shares | 21,366,177 | |||||||||||||||||||||||||||||||||||||||||||
iGalen International [Member] | SeD Capital Pte Ltd [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Interest payable | $ 61,555 | |||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 350,000 | $ 350,000 | ||||||||||||||||||||||||||||||||||||||||||
Debt instrument maturity date description | The term of the loan was two years, with an interest rate of 3% per annum for the first year and 5% per annum for the second year. The expiration term was renewed as due on demand after two years with 5% per annum interest rate. | |||||||||||||||||||||||||||||||||||||||||||
Interest expenses | 412,754 | |||||||||||||||||||||||||||||||||||||||||||
HWH World Co [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Advances for operations | 236,699 | |||||||||||||||||||||||||||||||||||||||||||
Hapi Cafe Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8% | 0% | ||||||||||||||||||||||||||||||||||||||||||
Loans and leases receivable related parties | 71,672 | 71,672 | 71,672 | |||||||||||||||||||||||||||||||||||||||||
Debt conversion original debt amount | $ 41,750 | |||||||||||||||||||||||||||||||||||||||||||
Debt interest rate | 8% | |||||||||||||||||||||||||||||||||||||||||||
Lend agreed | $ 250,500 | $ 360,000 | ||||||||||||||||||||||||||||||||||||||||||
Ketomei Drew [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Loans and leases receivable related parties | $ 29,922 | |||||||||||||||||||||||||||||||||||||||||||
American Medical REIT Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of shares purchased | shares | 122,039,000 | |||||||||||||||||||||||||||||||||||||||||||
Onwership percentage | 9.99% | |||||||||||||||||||||||||||||||||||||||||||
Number of warrant purchased | shares | 1,220,390,000 | |||||||||||||||||||||||||||||||||||||||||||
Exercise price | $ / shares | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||
Payments to acquire equity securities, FV-NI | $ 122,039 | |||||||||||||||||||||||||||||||||||||||||||
Fair value of warrants | $ 860,342 | |||||||||||||||||||||||||||||||||||||||||||
Document Securities Systems Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Gain on sale of shares investment | shares | 2,480,000 | |||||||||||||||||||||||||||||||||||||||||||
Gain on sale of shares investment | $ 2,480,000 | |||||||||||||||||||||||||||||||||||||||||||
Owned fair value | 200,128 | |||||||||||||||||||||||||||||||||||||||||||
Original cost | $ 2,279,872 | |||||||||||||||||||||||||||||||||||||||||||
Vivacitas [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of shares purchased | shares | 250,000 | |||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 1 | |||||||||||||||||||||||||||||||||||||||||||
Directors [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Personal guarantees | 0 | 500,000 | ||||||||||||||||||||||||||||||||||||||||||
Chan Heng Fai [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Notes payable related parties | 0 | 0 | 0 | 0 | 0 | $ 5,545,495 | $ 7,395,472 | |||||||||||||||||||||||||||||||||||||
Chan Heng Fai [Member] | Series B Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Shares purchase price | shares | 2,132 | 2,132 | ||||||||||||||||||||||||||||||||||||||||||
Debt conversion original debt amount | $ 13,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Chan Heng Fai [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of shares purchased | shares | 293,428,200 | 293,428,200 | ||||||||||||||||||||||||||||||||||||||||||
Principal amount | $ 6,250,000 | |||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 3% | |||||||||||||||||||||||||||||||||||||||||||
MacKenzie Equity Partners LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Equity partners additional bonus granted | $ 120,000 | 120,000 | ||||||||||||||||||||||||||||||||||||||||||
Additional bonus payment | 50,000 | 50,000 | 50,000 | |||||||||||||||||||||||||||||||||||||||||
One Of Our Director [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Equity method investments | $ 1,746,279 | |||||||||||||||||||||||||||||||||||||||||||
One Of Our Director [Member] | Alset Investment Pte LTD [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Equity method investment, ownership percentage | 100% | 100% | ||||||||||||||||||||||||||||||||||||||||||
Equity method investment aggregate cost | $ 476,250 | $ 476,250 | $ 476,250 | $ 476,250 | $ 476,250 | |||||||||||||||||||||||||||||||||||||||
Director [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Common shares of value exchange | shares | 7,276,163 | 7,276,163 | ||||||||||||||||||||||||||||||||||||||||||
Chan Tung Moe [Member] | American Pacific Bancorp Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 6% | |||||||||||||||||||||||||||||||||||||||||||
Due to officer | $ 560,000 | |||||||||||||||||||||||||||||||||||||||||||
Debt instrument maturity date | Nov. 23, 2023 | |||||||||||||||||||||||||||||||||||||||||||
Debt instrument description | This loan was secured by an irrevocable letter of instruction on 80,000 shares of Alset Inc | |||||||||||||||||||||||||||||||||||||||||||
Debt interest and principal | 840,000 | |||||||||||||||||||||||||||||||||||||||||||
Lim Sheng Hon Danny [Member] | American Pacific Bancorp Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Due to officer | $ 280,000 | |||||||||||||||||||||||||||||||||||||||||||
Debt instrument description | This loan was secured by an irrevocable letter of instruction on 40,000 shares of Alset Inc | |||||||||||||||||||||||||||||||||||||||||||
Lim Sheng Hong [Member] | American Pacific Bancorp Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Debt interest and principal | $ 28,031 |
SCHEDULE OF NET FUNDS RECEIVED
SCHEDULE OF NET FUNDS RECEIVED ON OFFERING AND WARRANTS EXERCISED (Details) - USD ($) | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | May 31, 2021 | |
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 8,487,324 | ||
Number of offering and warrants exercised, amount received | $ 6,213,000 | $ 73,157,884 | |
Mays Offering [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 8,487,324 | ||
Number of offering and warrants exercised, par value | $ 8,487 | ||
Number of offering and warrants exercised, amount received | $ 39,765,439 | ||
Mays Offering [Member] | Offering [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 4,700,637 | ||
Number of offering and warrants exercised, par value | $ 4,701 | ||
Number of offering and warrants exercised, amount received | $ 29,145,056 | ||
Mays Offering [Member] | Exercise of Pre Funded Warrants [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 1,611,000 | ||
Number of offering and warrants exercised, par value | $ 1,611 | ||
Number of offering and warrants exercised, amount received | $ 16,110 | ||
Mays Offering [Member] | Exercise of Underwriters Series A Warrants [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 808,363 | ||
Number of offering and warrants exercised, par value | $ 808 | ||
Number of offering and warrants exercised, amount received | $ 3,755,774 | ||
Mays Offering [Member] | Exercise of Series A and Series B Warrants [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 1,367,324 | ||
Number of offering and warrants exercised, par value | $ 1,367 | ||
Number of offering and warrants exercised, amount received | $ 6,937,347 | ||
Mays Offering [Member] | Offering Expenses [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | |||
Number of offering and warrants exercised, par value | |||
Number of offering and warrants exercised, amount received | $ (88,848) | ||
July Offering [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 17,358,489 | ||
Number of offering and warrants exercised, par value | $ 17,358 | ||
Number of offering and warrants exercised, amount received | $ 33,392,444 | ||
July Offering [Member] | Offering [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 5,324,139 | ||
Number of offering and warrants exercised, par value | $ 5,324 | ||
Number of offering and warrants exercised, amount received | $ 28,957,297 | ||
July Offering [Member] | Exercise of Pre Funded Warrants [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 9,770,200 | ||
Number of offering and warrants exercised, par value | $ 9,770 | ||
Number of offering and warrants exercised, amount received | $ 97,702 | ||
July Offering [Member] | Offering Expenses [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | |||
Number of offering and warrants exercised, par value | |||
Number of offering and warrants exercised, amount received | $ (49,553) | ||
July Offering [Member] | Exercise of Underwriters Over Allotment Option [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 2,264,150 | ||
Number of offering and warrants exercised, par value | $ 2,264 | ||
Number of offering and warrants exercised, amount received | $ 4,386,998 | ||
Decembers Offering [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 41,646,667 | ||
Number of offering and warrants exercised, par value | $ 41,647 | ||
Number of offering and warrants exercised, amount received | $ 31,346,875 | ||
Decembers Offering [Member] | Offering [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 18,923,334 | ||
Number of offering and warrants exercised, par value | $ 18,923 | ||
Number of offering and warrants exercised, amount received | $ 27,263,673 | ||
Decembers Offering [Member] | Exercise of Pre Funded Warrants [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 15,223,333 | ||
Number of offering and warrants exercised, par value | $ 15,223 | ||
Number of offering and warrants exercised, amount received | $ 8,823 | ||
Decembers Offering [Member] | Offering Expenses [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | |||
Number of offering and warrants exercised, par value | |||
Number of offering and warrants exercised, amount received | $ (40,621) | ||
Decembers Offering [Member] | Exercise of Underwriters Over Allotment Option [Member] | |||
Subsidiary, Sale of Stock [Line Items] | |||
Number of offering and warrants exercised, shares | 7,500,000 | ||
Number of offering and warrants exercised, par value | $ 7,500 | ||
Number of offering and warrants exercised, amount received | $ 4,115,000 |
SCHEDULE OF WARRANT ACTIVITY (D
SCHEDULE OF WARRANT ACTIVITY (Details) | 9 Months Ended |
Sep. 30, 2022 USD ($) $ / shares shares | |
Equity [Abstract] | |
Number of common shares warrants outstanding, beginning balance | shares | 28,533,147 |
Exercise price, beginning balance | $ / shares | $ 1.79 |
Remaining contractual term outstanding, beginning balance | 1 year 10 months 17 days |
Aggregate intrinsic value, beginning | $ | |
Number of common shares warrants vested and exercisable, beginning | shares | 28,533,147 |
Exercise price, vested and exercisable beginning balance | $ / shares | $ 1.79 |
Remaining contractual term exercisable, beginning balance | 1 year 10 months 17 days |
Aggregate intrinsic value, vested and exercisable beginning | $ | |
Number of common shares warrants granted | shares | |
Exercise price, granted | $ / shares | |
Number of common shares warrants exercised | shares | (15,843,378) |
Exercise price, exercised | $ / shares | $ 0.001 |
Number of common shares warrants forfeited, cancelled, expired | shares | |
Exercise price, forfeited, cancelled, expired | $ / shares | |
Number of common shares warrants outstanding, beginning balance | shares | 12,689,769 |
Exercise price, ending balance | $ / shares | $ 4.02 |
Remaining contractual term outstanding, ending balance | 3 years 5 months 23 days |
Aggregate intrinsic value, ending | $ | |
Number of common shares warrants vested and exercisable, beginning | shares | 12,689,769 |
Exercise price, vested and exercisable ending balance | $ / shares | $ 4.02 |
Remaining contractual term exercisable, ending balance | 3 years 5 months 23 days |
Aggregate intrinsic value, vested and exercisable ending | $ |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||
Apr. 11, 2022 | Feb. 28, 2022 | Jan. 27, 2022 | Jan. 17, 2022 | Dec. 14, 2021 | Dec. 05, 2021 | Sep. 09, 2021 | Jul. 30, 2021 | Jul. 27, 2021 | May 12, 2021 | May 10, 2021 | May 03, 2021 | Mar. 12, 2021 | Jan. 19, 2021 | Jun. 30, 2021 | Jun. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 13, 2021 | Jun. 14, 2021 | May 31, 2021 | |
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Common stock, shares authorized | 250,000,000 | 250,000,000 | 20,000,000 | |||||||||||||||||||||||
Preferred stock, shares authorized | 25,000,000 | 25,000,000 | 5,000,000 | |||||||||||||||||||||||
Preferred stock par value | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||
Stock issued during period, shares, issued for services | 10,000 | |||||||||||||||||||||||||
Stock issued during period, value, issued for services | $ 60,900 | $ 60,900 | ||||||||||||||||||||||||
Debt conversion, converted instrument, shares issued | 10,000,000 | |||||||||||||||||||||||||
Share price | $ 10.03 | |||||||||||||||||||||||||
Number of warrant purchased | 8,487,324 | |||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 6,213,000 | $ 73,157,884 | ||||||||||||||||||||||||
Proceeds from warrant exercises | 2,975,194 | |||||||||||||||||||||||||
Warrants issuance excercise period | 24 months | |||||||||||||||||||||||||
Common stock par value | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||
Common stock, shares outstanding | 3,492,713,362 | 148,507,188 | 87,368,446 | |||||||||||||||||||||||
Minority shareholder | $ 246,750 | $ 1,069,250 | $ 82,250 | $ 1,398,250 | ||||||||||||||||||||||
Common stock, shares issued | 3,492,713,362 | 148,507,188 | 87,368,446 | |||||||||||||||||||||||
Stock issued during period value new issues | $ 33,889,304 | $ 39,268,580 | ||||||||||||||||||||||||
Alset International Limited [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Ownership percentage | 85.40% | 76.80% | ||||||||||||||||||||||||
Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Share price | 5.59 | |||||||||||||||||||||||||
Common stock par value | $ 0.001 | |||||||||||||||||||||||||
July Offering [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Number of warrant purchased | 17,358,489 | |||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 33,392,444 | |||||||||||||||||||||||||
Offering cost | $ 49,553 | |||||||||||||||||||||||||
Decembers Offering [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Number of warrant purchased | 41,646,667 | |||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 31,346,875 | |||||||||||||||||||||||||
Offering cost | $ 40,621 | |||||||||||||||||||||||||
Common stock, shares outstanding | 148,507,188 | |||||||||||||||||||||||||
Alset International Limited [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Payments for warrant exercises | $ 88,848 | |||||||||||||||||||||||||
Alset International Limited [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Number of warrant purchased | 1,500,000,000 | |||||||||||||||||||||||||
Gig World [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Common stock, shares outstanding | 505,381,376 | |||||||||||||||||||||||||
Purchase of stock | 280,000 | |||||||||||||||||||||||||
Stock cost | $ 280,000 | |||||||||||||||||||||||||
Common stock, shares outstanding before sale | 506,898,576 | |||||||||||||||||||||||||
Ownership percentage | 99% | |||||||||||||||||||||||||
Alset International Limited [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Exercise price of warrants or rights | $ 0.04 | |||||||||||||||||||||||||
Number of warrant purchased | 1,721,303,416 | |||||||||||||||||||||||||
Cash received | $ 60,300,464 | |||||||||||||||||||||||||
Proceeds from Issuance of Warrants | 58,000,000 | |||||||||||||||||||||||||
Underwritten Public Offering [Member] | Series A Warrant [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Exercise price of warrants or rights | $ 5.07 | |||||||||||||||||||||||||
Underwritten Public Offering [Member] | Series B Warrant [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Exercise price of warrants or rights | $ 6.59 | |||||||||||||||||||||||||
Over-Allotment Option [Member] | Series A Warrant [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Number of warrants issued | 808,363 | 808,363 | ||||||||||||||||||||||||
Number of warrant purchased | 808,363 | |||||||||||||||||||||||||
Over-Allotment Option [Member] | Series B Warrant [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Number of warrants issued | 808,363 | |||||||||||||||||||||||||
Number of warrant purchased | 404,181 | |||||||||||||||||||||||||
Over-Allotment Option [Member] | Series B Warrant [Member] | Aegis Capital Corp [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Number of warrant purchased | 808,363 | |||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Stock issued during period, shares, issued for services | 10,000 | |||||||||||||||||||||||||
Stock issued during period, value, issued for services | $ 10 | |||||||||||||||||||||||||
Issuance of Common Stock, shares | 35,319,290 | 17,456,490 | 8,389,324 | |||||||||||||||||||||||
Minority shareholder | ||||||||||||||||||||||||||
Stock issued during period value new issues | $ 35,319 | $ 17,457 | $ 8,389 | |||||||||||||||||||||||
Common Stock [Member] | Underwritten Public Offering [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Preferred stock par value | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||
Issuance of Common Stock, shares | 18,076,666 | 5,324,139 | 4,700,637 | |||||||||||||||||||||||
Share price | $ 0.60 | $ 2.12 | $ 5.07 | |||||||||||||||||||||||
Common stock par value | $ 0.001 | |||||||||||||||||||||||||
Common Stock [Member] | Over-Allotment Option [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Number of warrants issued | 808,363 | |||||||||||||||||||||||||
Number of warrant purchased | 7,500,000 | 2,264,150 | 808,363 | |||||||||||||||||||||||
Proceeds from warrant exercises | $ 4,386,998 | |||||||||||||||||||||||||
Underwriting discount, percentage | 7% | 7% | ||||||||||||||||||||||||
Non-accountable expense, percentage | 1% | 1.50% | ||||||||||||||||||||||||
Stock issued for warrant exercise | 2,264,150 | |||||||||||||||||||||||||
Warant exercise, description | The Pre-funded Warrants were offered and sold to purchasers whose purchase of Common Stock in the Offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of the Company’s outstanding Common Stock immediately following the consummation of the Offering. Each Pre-funded Warrant is exercisable for one share of Common Stock at an exercise price of $0.001 per share. The Pre-funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-funded Warrants are exercised in full. At September 30, 2022, 31,076,666 warrants were exercised, some in cashless exercise transactions | The Pre-funded Warrants were offered and sold to purchasers whose purchase of Common Stock in the Offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of the Company’s outstanding Common Stock immediately following the consummation of the Offering in lieu of Common Stock that would otherwise result in the purchaser’s beneficial ownership exceeding 4.99% of the Company’s outstanding Common Stock (or, at the election of the purchaser, 9.99%). Each Pre-funded Warrant is exercisable for one share of Common Stock at an exercise price of $0.01 per share. The Pre-funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-funded Warrants are exercised in full | ||||||||||||||||||||||||
Common Stock [Member] | Over-Allotment Option [Member] | Aegis Capital Corp [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Share price | $ 5.07 | |||||||||||||||||||||||||
Pre Funded Units [Member] | Underwritten Public Offering [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Issuance of Common Stock, shares | 9,770,200 | 1,611,000 | ||||||||||||||||||||||||
Share price | $ 0.599 | $ 2.11 | $ 5.06 | |||||||||||||||||||||||
Number of warrant purchased | 31,076,666 | 9,770,200 | ||||||||||||||||||||||||
Proceeds from warrant exercises | $ 27,231,875 | $ 33,392,444 | ||||||||||||||||||||||||
Prefunded Warrants [Member] | Underwritten Public Offering [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Share price | $ 2.65 | |||||||||||||||||||||||||
Percentage of public offering price | 125% | |||||||||||||||||||||||||
Prefunded Warrants [Member] | Over-Allotment Option [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Number of warrant purchased | 7,500,000 | 520,754 | ||||||||||||||||||||||||
Proceeds from warrant exercises | $ 4,115,000 | |||||||||||||||||||||||||
Percentage of warrants purchased | 3% | |||||||||||||||||||||||||
Percentage of commonStock | 15% | |||||||||||||||||||||||||
Prefunded Warrants [Member] | Underwritten Over Allotment [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Share price | $ 0.60 | |||||||||||||||||||||||||
Warrant [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Stock issued during period value new issues | $ 75,000,000 | |||||||||||||||||||||||||
Chan Heng Fai [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Issuance of Common Stock, shares | 1,000 | |||||||||||||||||||||||||
Chan Heng Fai [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Issuance of Common Stock, shares | 35,319,290 | 29,468,977 | ||||||||||||||||||||||||
Number of shares purchase | 293,428,200 | 293,428,200 | ||||||||||||||||||||||||
Percentage of ordinary shares | 8.40% | |||||||||||||||||||||||||
Principal amount | $ 6,250,000 | |||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 3% | |||||||||||||||||||||||||
Conversion price | $ 0.625 | |||||||||||||||||||||||||
Investors [Member] | Series A Warrant [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Number of warrant purchased | 1,364,025 | |||||||||||||||||||||||||
Investors [Member] | Series B Warrant [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Number of warrant purchased | 6,598 | |||||||||||||||||||||||||
Investors [Member] | Pre Funded Units [Member] | Underwritten Public Offering [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Issuance of Common Stock, shares | 1,611,000 | |||||||||||||||||||||||||
Officer [Member] | Alset International Limited [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Issuance of Common Stock, shares | 6,670,200 | |||||||||||||||||||||||||
Share-Based Payment Arrangement, before Forfeiture | $ 73,292 | |||||||||||||||||||||||||
Share-Based Payment Arrangement, before Forfeiture | 1,500,000 | |||||||||||||||||||||||||
Series A Preferred Stock [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Preferred stock, shares authorized | 6,380 | |||||||||||||||||||||||||
Preferred stock par value | $ 0.001 | |||||||||||||||||||||||||
Series B Preferred Stock [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Preferred stock, shares authorized | 2,132 | |||||||||||||||||||||||||
Preferred stock par value | $ 0.001 | |||||||||||||||||||||||||
Series B Preferred Stock [Member] | Chan Heng Fai [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Conversion of stock shares converted | 2,132,000 | |||||||||||||||||||||||||
Debt conversion, converted instrument, shares issued | 2,132 | 2,132 | ||||||||||||||||||||||||
Debt conversion original debt amount | $ 13,000,000 | |||||||||||||||||||||||||
Series A Convertible Preferred Stock [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Stock purchased | 6,380,000 | |||||||||||||||||||||||||
Stock issued during period, shares, other | 6,380 | |||||||||||||||||||||||||
Series A Convertible Preferred Stock [Member] | Chan Heng Fai [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Conversion of stock shares converted | 6,380,000 | |||||||||||||||||||||||||
Debt conversion, converted instrument, shares issued | 6,380 | |||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 39,765,440 | |||||||||||||||||||||||||
Purchase of stock | 4,775,523 |
SCHEDULE OF FUTURE MINIMUM RENT
SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS (Details) | Sep. 30, 2022 USD ($) |
Leases [Abstract] | |
2022 | $ 552,644 |
2023 | 856,590 |
2024 | 7,450 |
Total Future Receipts | $ 1,416,684 |
LEASE INCOME (Details Narrative
LEASE INCOME (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Leases [Abstract] | ||||
Lessee, operating lease, term of contract | 2 years | 2 years | ||
Management fee expense | $ 28,890 | $ 6,390 | $ 60,390 | $ 7,380 |
Leasing fees incurred | $ 36,420 | $ 31,580 | $ 149,625 | $ 47,805 |
SCHEDULE OF CHANGES IN ACCUMULA
SCHEDULE OF CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME, NET OF TAX (Details) - USD ($) | 3 Months Ended | |||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Balance at beginning | $ 558,045 | $ 293,721 | $ 341,646 | $ (40,823) | $ 1,092,609 | $ 2,143,338 |
Other Comprehensive Income | (72,714) | 264,324 | (47,925) | (961,389) | (1,133,432) | (1,050,729) |
Balance at end | 485,331 | 558,045 | 293,721 | (1,002,212) | (40,823) | 1,092,609 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Balance at beginning | (97,563) | (97,058) | (90,031) | (75,556) | (49,893) | (48,758) |
Other Comprehensive Income | 42,642 | (505) | (7,027) | (14,314) | (25,663) | (1,135) |
Balance at end | (54,921) | (97,563) | (97,058) | (89,870) | (75,556) | (49,893) |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Balance at beginning | (3,870,029) | (867,862) | (367,895) | 482,946 | 1,247,490 | 2,258,017 |
Other Comprehensive Income | 370,778 | (3,002,167) | (499,967) | (930,005) | (764,544) | (1,010,527) |
Balance at end | (3,499,251) | (3,870,029) | (867,862) | (447,059) | 482,946 | 1,247,490 |
AOCI Attributable to Noncontrolling Interest [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Balance at beginning | 4,525,637 | 1,258,641 | 799,572 | (448,213) | (104,988) | (65,921) |
Other Comprehensive Income | (486,134) | 3,266,996 | 459,069 | (17,070) | (343,225) | (39,067) |
Balance at end | $ 4,039,503 | $ 4,525,637 | $ 1,258,641 | $ (465,283) | $ (448,213) | $ (104,988) |
SCHEDULE OF FINANCIAL ASSETS ME
SCHEDULE OF FINANCIAL ASSETS MEASURED AT FAIR VALUE ON A RECURRING BASIS (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at cost | $ 79,486,590 | $ 82,645,469 |
Total investment in securities at fair value | 30,684,973 | 36,337,023 |
Total investment in securities at fair value | 30,684,973 | 36,337,023 |
Fair Value, Inputs, Level 1 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | 30,078,409 | 35,228,771 |
Fair Value, Inputs, Level 2 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | ||
Fair Value, Inputs, Level 3 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | 606,564 | 1,108,252 |
Investment Securities Fair Value [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at cost | 76,264,051 | 72,000,301 |
Total investment in securities at fair value | 18,184,407 | 25,320,694 |
Investment Securities Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | 18,184,407 | 25,320,694 |
Investment Securities Fair Value [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | ||
Investment Securities Fair Value [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | ||
Investments Securities Trading [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at cost | 2,387,149 | 9,809,778 |
Total investment in securities at fair value | 11,894,002 | 9,908,077 |
Investments Securities Trading [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | 11,894,002 | 9,908,077 |
Investments Securities Trading [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | ||
Investments Securities Trading [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | ||
Notes Receivable [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at cost | 138,599 | 138,599 |
Total investment in securities at fair value | 88,599 | 98,398 |
Notes Receivable [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | ||
Notes Receivable [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | ||
Notes Receivable [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | 88,599 | 98,398 |
Warrant [Member] | American Premium Mining [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at cost | 696,791 | 696,791 |
Total investment in securities at fair value | 517,965 | 1,009,854 |
Warrant [Member] | American Medical REIT Inc [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at cost | ||
Total investment in securities at fair value | ||
Warrant [Member] | Fair Value, Inputs, Level 1 [Member] | American Premium Mining [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | ||
Warrant [Member] | Fair Value, Inputs, Level 1 [Member] | American Medical REIT Inc [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | ||
Warrant [Member] | Fair Value, Inputs, Level 2 [Member] | American Premium Mining [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | ||
Warrant [Member] | Fair Value, Inputs, Level 2 [Member] | American Medical REIT Inc [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | ||
Warrant [Member] | Fair Value, Inputs, Level 3 [Member] | American Premium Mining [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value | $ 517,965 | 1,009,854 |
Warrant [Member] | Fair Value, Inputs, Level 3 [Member] | American Medical REIT Inc [Member] | ||
Impairment Effects on Earnings Per Share [Line Items] | ||
Total investment in securities at fair value |
SCHEDULE OF FAIR VALUE OF EQUIT
SCHEDULE OF FAIR VALUE OF EQUITY SECURITY INVESTMENT (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Total equity securities | $ 30,176,538 | $ 35,327,987 |
Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total equity securities | $ 30,078,409 | $ 35,228,771 |
Document Securities Systems Inc [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Share price | $ 0.256 | $ 0.672 |
Shares | 62,812,264 | 19,888,262 |
Total equity securities | $ 16,079,940 | $ 13,364,912 |
Fair value measurements, valuation processes, description | Investment in Securities at Fair Value | Investment in Securities at Fair Value |
Amarantus Bio Science Holdings [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Share price | $ 0.004 | $ 0.016 |
Shares | 20,000,000 | 20,000,000 |
Total equity securities | $ 74,000 | $ 328,000 |
Fair value measurements, valuation processes, description | Investment in Securities at Fair Value | Investment in Securities at Fair Value |
Holista Coll Tech Limited [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Share price | $ 0.021 | $ 0.034 |
Shares | 43,326,621 | 43,626,621 |
Total equity securities | $ 923,988 | $ 1,489,179 |
Fair value measurements, valuation processes, description | Investment in Securities at Fair Value | Investment in Securities at Fair Value |
American Premium Mining [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Share price | $ 0.001 | $ 0.002 |
Shares | 354,039,000 | 354,039,000 |
Total equity securities | $ 389,443 | $ 778,886 |
Fair value measurements, valuation processes, description | Investment in Securities at Fair Value | Investment in Securities at Fair Value |
Value Exchange International Inc [ Member] | Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Share price | $ 0.110 | $ 0.300 |
Shares | 6,518,512 | 6,500,000 |
Total equity securities | $ 717,036 | $ 1,950,000 |
Fair value measurements, valuation processes, description | Investment in Securities at Fair Value | Investment in Securities at Fair Value |
Trading Stocks [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total equity securities | $ 11,894,002 | $ 9,908,077 |
Fair value measurements, valuation processes, description | Investment in Securities at Fair Value | Investment in Securities at Fair Value |
Nervotec Pte Ltd [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Shares | 1,666 | 1,666 |
Total equity securities | $ 35,958 | $ 37,045 |
Fair value measurements, valuation processes, description | Investment in Securities at Cost | Investment in Securities at Cost |
Hyten Global [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Shares | 3,800 | 3,800 |
Total equity securities | $ 42,562 | $ 42,562 |
Fair value measurements, valuation processes, description | Investment in Securities at Cost | Investment in Securities at Cost |
UBeauty Limited [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Shares | 3,600 | 3,600 |
Total equity securities | $ 19,609 | $ 19,609 |
Fair value measurements, valuation processes, description | Investment in Securities at Cost | Investment in Securities at Cost |
True Partner Capital Holding Limited [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Share price | $ 0.119 | |
Shares | 62,122,908 | |
Total equity securities | $ 7,409,717 | |
Fair value measurements, valuation processes, description | Investment in Securities at Fair Value |
SCHEDULE OF SIGNIFICANT INPUTS
SCHEDULE OF SIGNIFICANT INPUTS AND ASSUMPTIONS (Details) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 $ / shares | Dec. 31, 2021 $ / shares | |
Fair Value, Inputs, Level 3 [Member] | Warrant [Member] | ||
Warrants and rights outstanding, term | 7 years 9 months 21 days | 8 years 6 months 29 days |
Measurement Input, Price Volatility [Member] | Fair Value, Inputs, Level 3 [Member] | Warrant [Member] | ||
Annualized volatility | 167.9 | 186.5 |
Measurement Input, Risk Free Interest Rate [Member] | Fair Value, Inputs, Level 3 [Member] | Warrant [Member] | ||
Annualized volatility | 3.94 | 1.48 |
Measurement Input, Exercise Price [Member] | Fair Value, Inputs, Level 3 [Member] | Warrant [Member] | ||
Annualized volatility | 0.001 | 0.001 |
Measurement Input, Share Price [Member] | Fair Value, Inputs, Level 3 [Member] | Warrant [Member] | ||
Annualized volatility | 0.0011 | 0.0022 |
Sharing Services Inc [Member] | Measurement Input, Expected Dividend Rate [Member] | ||
Measurement input | 0 | |
Sharing Services Inc [Member] | Measurement Input, Expected Dividend Rate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Measurement input | 0 | |
Sharing Services Inc [Member] | Measurement Input, Price Volatility [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Measurement input | 138.85 | |
Sharing Services Inc [Member] | Measurement Input, Risk Free Interest Rate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Measurement input | 3.25 | |
Sharing Services Inc [Member] | Measurement Input, Expected Term [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Contractual term in years | 9 months 3 days | |
Sharing Services Inc [Member] | Measurement Input, Exercise Price [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Measurement input | 0.15 |
SCHEDULE OF CHANGE IN FAIR VALU
SCHEDULE OF CHANGE IN FAIR VALUE (Details) - Sharing Services Convertible Note [Member] - USD ($) | 3 Months Ended | |||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | |
Net Investment Income [Line Items] | ||||||
Beginning balance | $ 904,198 | $ 904,789 | $ 1,108,252 | $ 29,069 | $ 64,991 | $ 66,978 |
Total losses | 49,915 | (591) | (203,463) | (19,060) | (35,922) | (1,987) |
Ending balance | $ 954,113 | $ 904,198 | $ 904,789 | $ 10,009 | $ 29,069 | $ 64,991 |
INVESTMENTS MEASURED AT FAIR _3
INVESTMENTS MEASURED AT FAIR VALUE (Details Narrative) | 9 Months Ended | 12 Months Ended | ||||||
Feb. 26, 2021 USD ($) $ / shares | Jul. 17, 2020 USD ($) $ / shares shares | Sep. 30, 2022 USD ($) shares | Sep. 30, 2021 USD ($) shares | Dec. 31, 2021 USD ($) shares | Oct. 29, 2021 USD ($) | May 31, 2021 shares | Mar. 02, 2020 USD ($) $ / shares | |
Realized investment gains losses | $ 6,500,573 | $ 2,218,988 | ||||||
Unrealized loss on securities investment | 21,773,223 | 35,972,445 | ||||||
Change in fair value of convertible note receivable | 40,201 | 56,969 | ||||||
Notes receivable, related parties | 2,674,074 | $ 12,792,671 | ||||||
Number of warrant purchased | shares | 8,487,324 | |||||||
Purchase of Investment Securities | $ 8,479,968 | $ 19,308,318 | ||||||
Number of warants exercised | shares | 15,843,378 | |||||||
Warrant outstanding | shares | 12,689,769 | 28,533,147 | ||||||
American Premium Mining Corporation [Member] | ||||||||
Number of warrant purchased | shares | 122,039,000 | 232,000,000 | ||||||
Equity method investment, ownership percentage | 9.99% | |||||||
Equity method investment number of shares acquired | shares | 1,220,390,000 | |||||||
Class of warrant or right, exercise price of warrants or rights | $ / shares | $ 0.0001 | |||||||
Purchase of Investment Securities | $ 122,039 | |||||||
Number of warants exercised | shares | 232,000,000 | |||||||
Total consideration | $ 232,000 | |||||||
Warrant outstanding | shares | 988,390,000 | |||||||
Sharing Services Inc [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||||||
Debt securities, trading, measurement input | 0 | |||||||
Vector Com co. Ltd [Member] | ||||||||
Convertible debt | $ 88,599 | |||||||
Debt instrument, interest rate, stated percentage | 2% | |||||||
Debt instrument, term | 2 years | |||||||
Debt instrument, convertible, conversion price | $ / shares | $ 21.26 | |||||||
American Medical REIT Inc [Member] | ||||||||
Debt instrument, interest rate, stated percentage | 8% | |||||||
Notes receivable, related parties | $ 200,000 | $ 200,000 | ||||||
Fair value of warrants | $ 0 | $ 0 | ||||||
Class of warrant or right, exercise price of warrants or rights | $ / shares | $ 5 | |||||||
DSS Convertible Preferred Stock [Member] | ||||||||
Preferred stock, convertible, shares issuable | shares | 42,575 | |||||||
Conversion of stock, shares issued | shares | 6,570,170 | |||||||
Warrant [Member] | American Premium Mining Corporation [Member] | ||||||||
Fair value of warrants | $ 517,965 | $ 1,009,854 |
SCHEDULE OF OPERATING AND RENEW
SCHEDULE OF OPERATING AND RENEWED LEASE TERMS RENTAL (Details) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Product Liability Contingency [Line Items] | ||
Lessee, operating lease, description | As our leases do not provide a readily determinable implicit rates, we estimate our incremental borrowing rates to discount the lease payments based on information available at lease commencement. Our incremental borrowings rates are 3.9% in 2022 and 2021, which were used as the discount rates | |
SINGAPORE | ||
Product Liability Contingency [Line Items] | ||
Lessee, operating lease, description | June 2022 to May 2023 | |
SINGAPORE F and B [Member] | ||
Product Liability Contingency [Line Items] | ||
Lessee, operating lease, description | October 2021 to October 2024 | |
Singapore Four - Seasons Park [Member] | ||
Product Liability Contingency [Line Items] | ||
Lessee, operating lease, description | July 2022 to July 2024 | |
HONG KONG | ||
Product Liability Contingency [Line Items] | ||
Lessee, operating lease, description | October 2020 to October 2022 | |
South Korea [Member] | ||
Product Liability Contingency [Line Items] | ||
Lessee, operating lease, description | August 2022 to August 2025 | |
Magnolia, Texas [Member] | ||
Product Liability Contingency [Line Items] | ||
Lessee, operating lease, description | May 2022 - on month to month basis | |
MARYLAND | ||
Product Liability Contingency [Line Items] | ||
Lessee, operating lease, description | January 2021 to March 2024 |
SCHEDULE OF LEASE PAYMENTS (Det
SCHEDULE OF LEASE PAYMENTS (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Commitments and Contingencies Disclosure [Abstract] | ||
2023 | $ 645,572 | |
2024 | 516,273 | |
2025 | 234,807 | |
Total Minimum Lease Payments | 1,396,652 | |
Less: Effect of Discounting | (118,495) | |
Present Value of Future Minimum Lease Payments | 1,278,157 | $ 667,343 |
Less: Current Obligations under Leases | (619,355) | (283,989) |
Long-term Lease Obligations | $ 658,802 | $ 383,354 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details Narrative) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Dec. 31, 2018 | Nov. 23, 2015 USD ($) a | May 28, 2014 USD ($) a | Sep. 30, 2022 USD ($) a ft² | Sep. 30, 2021 USD ($) a | Sep. 30, 2022 USD ($) a ft² | Sep. 30, 2021 USD ($) a | Dec. 31, 2021 USD ($) a | |
Loss Contingencies [Line Items] | ||||||||
Area of land | ft² | 15,811 | 15,811 | ||||||
Payments for rent | $ 30,998,258 | |||||||
Operating leases, rent expense | $ 179,094 | $ 140,685 | $ 492,034 | $ 405,677 | ||||
Lessee, operating lease, description | As our leases do not provide a readily determinable implicit rates, we estimate our incremental borrowing rates to discount the lease payments based on information available at lease commencement. Our incremental borrowings rates are 3.9% in 2022 and 2021, which were used as the discount rates | |||||||
Operating lease, right-of-use asset | 1,265,171 | $ 1,265,171 | $ 659,620 | |||||
Operating lease, liability | $ 1,278,157 | 1,278,157 | 667,343 | |||||
Minimum [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Payments for rent | 2,300 | |||||||
Maximum [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Payments for rent | $ 23,020 | |||||||
Lots Sales Agreement [Member] | SeD Maryland Development LLC [Member] | Ballenger Run [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Payments to Acquire Real Estate | $ 15,700,000 | |||||||
Area of land | a | 197 | |||||||
Lots Sales Agreement [Member] | RBG Family LLC [Member] | Ballenger Run [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Payments to Acquire Real Estate | $ 15,000,000 | |||||||
Area of land | a | 197 | |||||||
Lot Purchase Agreements [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Description of real estate improvements | On December 31, 2018, SeD Maryland entered into the Third Amendment to the Lot Purchase Agreement for Ballenger Run with NVR. Pursuant to the Third Amendment, SeD Maryland will convert the 5.9 acre CCRC parcel to 36 lots (the 28 feet wide villa lot) and sell to NVR. SeD Maryland pursued the required zoning approval to change the number of such lots from 85 to 121, which was approved in July 2019. Subsequently, SeD Maryland Development signed Fourth Amendment to the Lot Purchase Agreement, pursuant to which NVR agreed to purchase all of the new 121 lots | |||||||
Purchase of land lots | a | 0 | 18 | 3 | 76 | ||||
Accrued balance | $ 189,475 | $ 189,475 | $ 188,125 | |||||
Lot Purchase Agreement One [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Purchase of land lots | a | 3 | 476 |
SCHEDULE OF OPTION ACTIVITY (De
SCHEDULE OF OPTION ACTIVITY (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Share-Based Payment Arrangement [Abstract] | ||
Options for common shares, oustanding at beginning | 1,061,333 | 1,061,333 |
Exercise price, vested and exercisable at beginning | $ 0.09 | $ 0.09 |
Remaining contractual term, outstanding at beginning | 2 years | 3 years |
Aggregate Intrinsic Value, outstanding at beginning | ||
Options for common shares, vested and exercisable at beginning | 1,061,333 | 1,061,333 |
Exercise price, outstanding at beginning | $ 0.09 | $ 0.09 |
Remaining contractual term,vested and exercisable at beginning | 2 years | 3 years |
Aggregate Intrinsic Value, vested and exercisable at beginning | ||
Options for common shares, granted | ||
Exercise price, granted | ||
Options for common shares, exercised | ||
Exercise price, exercised | ||
Options for common shares, forfeited, cancelled, expired | ||
Exercise price, forfeited, cancelled, expired | ||
Options for common shares, outstanding at ending | 1,061,333 | 1,061,333 |
Exercise price, vested and exercisable at ending | $ 0.09 | $ 0.09 |
Remaining contractual term, outstanding ending | 1 year 3 months | |
Aggregate Intrinsic Value, outstanding at ending | ||
Options for common shares, vested and exercisable at ending | 1,061,333 | 1,061,333 |
Exercise price, vested and exercisable at end | $ 0.09 | $ 0.09 |
Remaining contractual term, vested and exercisable at ending | 1 year 3 months | |
Aggregate Intrinsic Value, vested and exercisable at ending |
DIRECTORS AND EMPLOYEES_ BENE_3
DIRECTORS AND EMPLOYEES’ BENEFITS (Details Narrative) | Sep. 30, 2022 shares |
Incentive Compensation Plan [Member] | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |
Capital shares reserved for future issuance | 500,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 3 Months Ended | |||||
Oct. 28, 2022 | Oct. 17, 2022 | Jun. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 12, 2021 | |
Subsequent Event [Line Items] | ||||||
Issuance of Common Stock | $ 33,889,304 | $ 39,268,580 | ||||
Shares issued per share | $ 10.03 | |||||
Subsequent Event [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Community enhancement fees | $ 12,881,000 | |||||
Number of shares acquisitions | 13,834,643 | |||||
Ownership percentage | 38.30% | |||||
Subsequent Event [Member] | Stock Purchase Agreement [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Common shares of value exchange | 7,276,163 | |||||
Value of shares of stock issued | $ 1,743,734.12 | |||||
Number of shares of stock issued | 7,276,163 | |||||
Subsequent Event [Member] | Stock Purchase Agreement [Member] | Subsidiary One [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Issuance of Common Stock | $ 1,733,079.12 | |||||
Number of shares of stock issued | 7,221,163 | |||||
Shares issued per share | $ 0.24 | |||||
Subsequent Event [Member] | Stock Purchase Agreement [Member] | Subsidiary Two [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Issuance of Common Stock | $ 2,314 | |||||
Number of shares of stock issued | 10,000 | |||||
Shares issued per share | $ 0.2314 | |||||
Subsequent Event [Member] | Stock Purchase Agreement [Member] | Subsidiary Three [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Issuance of Common Stock | $ 5,015 | |||||
Number of shares of stock issued | 25,000 | |||||
Shares issued per share | $ 0.2006 | |||||
Subsequent Event [Member] | Stock Purchase Agreement [Member] | Subsidiary Four [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Issuance of Common Stock | $ 3,326 | |||||
Number of shares of stock issued | 20,000 | |||||
Shares issued per share | $ 0.1663 |