v3.25.3
DISAGGREGATION OF REVENUES
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
DISAGGREGATION OF REVENUES

NOTE 17 — DISAGGREGATION OF REVENUES

Revenues generated from different revenue streams consist of the following:

 

 

 

For the Three Months
Ended September 30,

 

 

For the Nine Months
Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Franchising revenue

 

$

9,929,387

 

 

$

15,688,528

 

 

$

35,656,250

 

 

$

45,425,052

 

Procurement revenue

 

 

13,406,905

 

 

 

17,571,299

 

 

 

43,496,207

 

 

 

44,303,891

 

Management services revenue

 

 

9,462,183

 

 

 

12,110,764

 

 

 

23,328,864

 

 

 

44,471,031

 

Rental services revenue

 

 

6,219,645

 

 

 

4,124,774

 

 

 

18,711,335

 

 

 

11,195,888

 

Others

 

 

4,335,115

 

 

 

3,589,518

 

 

 

12,848,127

 

 

 

15,599,143

 

Total

 

$

43,353,235

 

 

$

53,084,883

 

 

$

134,040,783

 

 

$

160,995,005

 

 

During the nine months ended September 30, 2025 and 2024, the Company recognized revenue of $843,755 and $1,970,889 from the opening balance of advances from customers, respectively; and recognized no revenue from the opening balance of advances from customers — related parties.

As of September 30, 2025 and December 31, 2024, and for the nine months ended September 30, 2025 and 2024, substantially all of our long-lived assets and revenues generated were attributed to the Company’s operations in Japan.