0001493152-24-011298 | 10-K | XBRL Viewer

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//606/tableOfContent

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Revenue

Revenue was comprised of the following for the years ended December 31, 2023 and 2022, respectively:

Schedule of Revenue

	2023			2022

Revenue-America	$	138,079,203		$	101,476,365
Revenue-International		4,379,801			1,262,045
Revenue-Other		930,191			529,603
Sales returns		(9,248,586	)		(5,973,689	)
Discounts		(2,016,407	)		(1,364,233	)
Total	$	132,124,202		$	95,930,091

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash	$ 2,484,153	$ 4,562,589
Accounts receivable, net	747,650	352,379
Inventory, net	14,276,555	18,801,529
Prepaid expenses and other current assets	504,973	741,243
Total current assets	18,013,331	24,457,740
Property and equipment, net	148,788	274,195
Deferred tax assets	1,304,215	549,320
Operating lease right-of-use lease assets	83,946	450,721
Total non-current assets	1,536,949	1,274,236
TOTAL ASSETS	19,550,280	25,731,976
Current liabilities
Accounts payable	3,812,954	6,651,721
Credit cards payable	4,404,445	5,231,532
Short-term loan	652,422	652,316
Operating lease liabilities-current	82,269	385,216
Accrued expenses and other current liabilities	1,972,512	1,742,972
Total current liabilities	10,924,602	14,663,757
Non-current liabilities
Operating lease liabilities-non-current	2,363	64,945
Total non-current liabilities	4,172,781	4,235,363
Total liabilities	15,097,383	18,899,120
Commitments and contingencies
Stockholders’ equity
Preferred stock: $0.0001 par value, 10,000,000 shares authorized, none issued and outstanding as of December 31, 2023 and 2022
Common stock: $0.0001 par value, 300,000,000 shares authorized, 35,082,464 and 35,047,828 shares issued and outstanding as of December 31, 2023 and 2022, respectively	3,508	3,506
Additional paid-in capital	5,727,650	5,675,320
(Accumulated deficit) retained earnings	(1,252,622)	1,177,072
Accumulated other comprehensive loss	(25,639)	(23,042)
Total stockholders’ equity	4,452,897	6,832,856
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	19,550,280	25,731,976
Related Party [Member]
Current liabilities
Credit cards payable	4,170,418	4,170,418
Non-current liabilities
Due to related parties	$ 4,170,418	$ 4,170,418

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net loss	$ (2,429,694)	$ (1,477,623)
Reconciliation of net loss to net cash used in operating activities:
Depreciation expenses	138,001	79,084
Amortization of Operating lease right-of-use lease assets	387,446	310,161
Deferred tax assets	(754,895)	(503,832)
Stock-based compensation	52,332	91,013
Inventory allowance	675,886	657,543
Changes in operating assets and liabilities:
Accounts receivable	(395,271)	(226,388)
Inventory	3,849,088	(12,417,208)
Prepaid expenses and other current assets	236,270	(352,113)
Accounts payable	(2,838,767)	1,445,824
Credit cards payable	(827,087)	898,171
Accrued expenses and other current liabilities	229,540	175,436
Operating lease liabilities	(386,224)	(283,244)
Net cash used in operating activities	(2,063,375)	(11,603,176)
Cash flows from investing activities:
Purchases of property and equipment	(14,823)	(339,518)
Net cash used in investing activities	(14,823)	(339,518)
Cash flows from financing activities:
Payments to related parties		(1,024,188)
Repayments from related parties		138,854
Proceeds from Issuance of shares		6,156,360
Proceeds from Short-term debt		652,316
Net cash provided by financing activities		5,923,342
Effect of changes in foreign currency exchange rates	(238)	(10,631)
Net change in cash	(2,078,436)	(6,029,983)
Cash at beginning of year	4,562,589	10,592,572
Cash at end of year	2,484,153	4,562,589
Supplemental disclosures of cash flow information:
Cash paid for interest	406,103	4,300
Cash paid for income tax	1,696	470,601
Noncash investing and financing activities:
Operating lease right-of-use of assets and operating lease liabilities recognized	$ 27,249	$ 701,526

Schedule of Operating Leases Cost (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Initial recognition of right-of-use assets	$ 83,946	$ 450,721
Subsidiaries [Member] \| June 2022 to May 2024 [Member]
Initial recognition of right-of-use assets	$ 105,632
Weighted-average remaining lease term	5 months 1 day
Weighted-average discount rate	8.11%
Subsidiaries [Member] \| August 2022 to July 2024 [Member]
Initial recognition of right-of-use assets	$ 147,547
Weighted-average remaining lease term	6 months 29 days
Weighted-average discount rate	2.50%
Subsidiaries [Member] \| February 2023 to March 2024 [Member]
Initial recognition of right-of-use assets	$ 28,652
Weighted-average remaining lease term	1 year 2 months 1 day
Weighted-average discount rate	3.20%

Income Tax

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Tax

NOTE 13 - Income Tax

The components of income taxes benefit are as follows:

	December 31,			December 31,
	2023			2022
Federal rate		21.00	%		21.00	%
Blended state tax rate		4.11	%		3.83	%
Effective tax rate		25.11	%		24.83	%

Effective tax Rate Reconciliation, for the Year Ending December 31, 2023
			%			$
Pretax Book Income	(3,160,454	)		21.00	%		(663,695	)
Permanent Differences	78,048			-0.52	%		16,390
PY Federal Perm True-up	73,914			-0.49	%		15,522
State income tax	24,136			3.12	%		(98,586	)
Other Deferred adjustment	-			0.01	%		(391	)
Total Tax benefits				23.12	%		(730,760	)

Effective tax Rate Reconciliation, for the Year Ending December 31, 2022
			%			$
Pretax Book Income	(1,939,786	)		21.00	%		(407,354	)
Permanent Differences	27,363			-0.30	%		5,746
PY Federal Perm True-up	95,840			-1.04	%		20,126
State income tax	10,741			3.55	%		(68,890	)
Other Deferred adjustment	-			0.61	%		(11,791	)
Total Tax benefits				23.83	%		(462,163	)

Schedule of Tax Expense Summary

	Current			Deferred		Total
	Income Tax			Income Tax		Income Tax
Tax Expense Summary, for the Year Ended December 31, 2023	Expense			Benefit		Benefit
Federal	$	(637,242	)	$	-	$	(637,242	)
State		(117,654	)		24,136		(93,518	)
Total tax expense (benefit)	$	(754,896	)	$	24,136	$	(730,760	)

	Current		Deferred			Total
	Income Tax		Income Tax			Income Tax
Tax Expense Summary, for the Year Ended December 31, 2022	Expense		Benefit			Benefit
Federal		30,928		(426,457	)		(395,529	)
State		10,741		(77,375	)		(66,634	)
Total Tax Expense (Benefit)		41,669		(503,832	)		(462,163	)

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets at December 31, 2023 and 2022 were as follows:

	Deferred Tax		Deferred Tax
	Assets		Assets
Deferred Tax Assets summary	December 31, 2023		December 31, 2022
Federal	$	1,101,836	$	464,594
State		202,379		84,726
Total	$	1,304,215	$	549,320

	Deferred Tax		Deferred Tax
	Assets		Assets
Deferred Tax Assets summary	December 31, 2023		December 31, 2022
Operating lease right of use lease assets	$	172	$	(139	)
Inventories allowance		169,725		209,131
Net loss carry forward		1,134,318		340,328
Total	$	1,304,215	$	549,320

The Company files income tax return in the U.S. federal jurisdiction and various state jurisdictions. Based on management’s evaluation, there is no provision necessary for material uncertain tax position for the Company at December 31, 2023 and 2022.

For the years ended December 31, 2023 and 2022, the Company reported net operating losses of $2,429,694 and $1,477,623, respectively. The net operating loss carryforward is not subject to any expiration period under federal regulations, while at the state level, the expiration period usually ranges up to 20 years, or there may be no expiration period at all.

The Company expects to generate sufficient taxable income in future periods against which the deferred tax assets can be utilized. Accordingly, a valuation allowance may not be needed.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Cash and Cash Equivalents [Abstract]

Cash

12 Months Ended

Dec. 31, 2023

Cash

NOTE 3 - Cash

Cash was comprised of the following as of December 31, 2023 and 2022, respectively:

Schedule of Cash and Cash Equivalents

	December 31,		December 31,
	2023		2022

Checking account	$	338,733	$	939,323
Savings account and cash on hand		2,145,420		3,623,266
Total	$	2,484,153	$	4,562,589

Related Party Balances and Transactions (Details Narrative) - USD ($)		12 Months Ended
	Dec. 28, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 30, 2020
Related Party Transaction [Line Items]
Due to related parties		$ 4,404,445	$ 5,231,532
Payments to related parties			$ 1,024,188
Loan Agreement [Member]
Related Party Transaction [Line Items]
Loan interest rate	5.50%		2.00%	2.00%
Debt instrument, maturity date, description	the Company, Mr. Lai and Ms. Yu agreed to extend the term of the loan for another two years, with a revised maturity date of December 31, 2024
Original amount				$ 1,041,353
Related Party [Member]
Related Party Transaction [Line Items]
Due to related parties		4,170,418	$ 4,170,418
Payments to related parties		$ 0	$ 1,024,188

Schedule of Tax Expense Summary (Details) - USD ($)	12 Months Ended
Schedule of Tax Expense Summary (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Current Income Tax Expense, Federal	$ (637,242)	$ 30,928
Deferred Income Tax Benefit, Federal		(426,457)
Total Income Tax Benefit, Federal	(637,242)	(395,529)
Current Income Tax Expense, State	(117,654)	10,741
Deferred Income Tax Benefit, State	24,136	(77,375)
Total Income Tax Benefit, State	(93,518)	(66,634)
Current Income Tax Expense, Total tax expense (benefit)	(754,896)	41,669
Deferred Income Tax Benefit, Total tax expense (benefit)	24,136	(503,832)
Total Income Tax Benefit, Total tax expense (benefit)	$ (730,760)	$ (462,163)

Schedule of Cash and Cash Equivalents (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Checking account	$ 338,733	$ 939,323
Savings account and cash on hand	2,145,420	3,623,266
Total	$ 2,484,153	$ 4,562,589

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets was comprised of the following as of December 31, 2023 and 2022, respectively:

	December 31,		December 31,
	2023		2022

Advance to suppliers	$	49,298	$	182,105
Prepaid expenses-other		61,739		55,731
Lease refundable deposit		81,522		80,235
Tax receivable		305,253		413,895
Other current assets		7,161		9,277
Total	$	504,973	$	741,243

Short-Term Loan (Details Narrative) - Line of Credit [Member] - USD ($)				12 Months Ended
	Aug. 11, 2023	Aug. 18, 2022	Jun. 18, 2019	Dec. 31, 2023	Dec. 31, 2022
Bank of America [Member]
Line of Credit Facility [Line Items]
Line of credit			$ 785,000	$ 0	$ 0
Line of credit, maturity date			Jun. 18, 2024	Jun. 18, 2024
Line of credit, interest rate			8.11%
Accrued interest expense				$ 27,996
Taishin International Bank [Member]
Line of Credit Facility [Line Items]
Line of credit		$ 6,940,063		652,422	$ 652,316
Line of credit, maturity date	Aug. 30, 2024	Aug. 30, 2023
Line of credit, interest rate	3.20%	3.20%
Accrued interest expense				$ 1,715

Schedule of Foreign Currency Exchange Rates

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Nature of Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

The relevant exchange rates are listed below:

	December 31,		December 31,
	2023		2022

Period NTD: USD exchange rate		30.655		30.660
Period Average NTD: USD exchange rate		31.221		30.618

Inventory

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventory

NOTE 4 - Inventory

Inventory was comprised of the following as of December 31, 2023 and 2022, respectively:

Schedule of Inventory

	December 31,			December 31,
	2023			2022

Inventory	$	13,377,530		$	14,911,735
Inventory-in-transit		1,574,911			4,732,057
Allowance		(675,886	)		(842,263	)
Total	$	14,276,555		$	18,801,529

As of December 31, 2023 and 2022, $675,886 and $842,263, was written down from the cost of inventories to their net realizable values, respectively. Full inventory allowance is recorded for the inventory SKU not sold for more than one year.

The allowance of inventory is recorded under cost of goods sold in the income statement.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

Prepaid Expenses and Other Current Assets (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Tax receivable	$ 305,253	$ 413,895

Schedule of Effective Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Pretax Book Income, Percentage	21.00%	21.00%
Pretax Book Income	$ (663,695)	$ (407,354)
Permanent Differences, Percentage	(0.52%)	(0.30%)
Permanent Differences	$ 16,390	$ 5,746
PY Federal Perm True-up, Percentage	(0.49%)	(1.04%)
PY Federal Perm True-up	$ 15,522	$ 20,126
State income tax, Percentage	3.12%	3.55%
State income tax	$ (98,586)	$ (68,890)
Other Deferred adjustment, Percentage	0.01%	0.61%
Other Deferred adjustment	$ (391)	$ (11,791)
Total Tax benefits, Percentage	23.12%	23.83%
Total Tax benefits	$ (730,760)	$ (462,163)

Accounts Payable and Credit Cards Payable (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accounts payable	$ 3,812,954	$ 6,651,721
Credit cards payable	$ 4,404,445	$ 5,231,532

Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal rate	21.00%	21.00%
Blended state tax rate	4.11%	3.83%
Effective tax rate	25.11%	24.83%

Nature of Operations and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation - The audited consolidated financial statements and accompanying notes of the Company have been prepared in accordance with the accounting principles generally accepted in the United States of America (“US GAAP”).

Principles of Consolidation

Principles of Consolidation - The audited consolidated financial statements include the accounts of Hour Loop and Flywheel. All material inter-company accounts and transactions were eliminated in consolidation.

Foreign Currency and Currency Translation

Foreign Currency and Currency Translation - The assets and liabilities of Flywheel, having a functional currency other than the U.S. dollar, are translated into U.S. dollars at exchange rates in effect at period-end, with resulting translation gains or losses included within other comprehensive income or loss. Revenues and expenses are translated into U.S. dollars at average monthly rates of exchange in effect during each period. All of the Company’s foreign operations use their local currency as their functional currency. Currency gains or losses resulting from transactions executed in currencies other than the functional currency are included in General and administrative in the consolidated statement of operations and other comprehensive income.

The relevant exchange rates are listed below:

	December 31,		December 31,
	2023		2022

Period NTD: USD exchange rate		30.655		30.660
Period Average NTD: USD exchange rate		31.221		30.618

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

Going Concern Consideration

Going Concern Consideration

For the year ended December 31, 2023, the Company had negative cash flows of $2,063,375 from its operations and had net loss of $2,429,694. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company may be unable to realize its assets and discharge its liabilities in the normal course of business.

Most of the Company’s borrowings as of December 31, 2023 were from the related parties, which will not be repayable within the next 12 months and are subject to renewal. Management is confident that these borrowings can be renewed upon expiration.

In order to strengthen the Company’s liquidity in the foreseeable future, the Company has taken the following measures:

	i.	Taking various cost control measures to tighten the costs of operations; and

	ii.	Implementing various strategies to enhance sales and profitability.

Management believes that there is sufficient working capital to sustain operations longer than twelve months, and the majority shareholders are committed to provide additional funding when needed.

Use of Estimates

Use of Estimates - The preparation of financial statements in conformity with US 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 date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

Significant estimates, include but not limited to, estimates associated with the collectability of accounts receivable, useful life of property and equipment, impairment of long lived assets, valuation allowance for deferred tax assets, inventory valuation and inventory provision.

Reclassification

Reclassification - Certain amounts in the consolidated financial statements for the prior financials have been reclassified to conform to the current interim review presentation. These reclassifications had no impact on consolidated net earnings, consolidated financial position, or consolidated cash flows. Proposed changes involve presenting accrued interest as a current liability, foreign currency gain or loss as a General and administrative and segregating account payable into separate categories: accounts payable and credit cards payable.

Cash

Cash - The Company considers all highly liquid financial instruments purchased with original maturities of three months or less to be cash. The carrying amount of cash approximates fair value. Our cash is held in the bank and covered by the Federal Deposit Insurance Corporation (“FDIC”), subject to applicable limits. Deposits are insured up to $250,000 per depositor, per FDIC-insured bank, per ownership category.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts Receivable and Allowance for Doubtful Accounts - Accounts receivable are stated at historical cost less allowance for doubtful accounts. On a periodic basis, management evaluates its accounts receivable and determines whether to provide an allowance for credit losses in accordance with ASC Topic 326, credit losses based on a past history of write-offs, collections, current credit conditions, current economic conditions, reasonable and supportable forecasts of future economic conditions. The evaluation is performed on a collective basis where similar characteristics exist, primarily based on similar services or products offerings. We adopted the standard effective January 1, 2023. The impact of the adoption was not considered material to the financial statements and primarily resulted in new/enhanced disclosures only. A receivable is considered past due if the Company has not received payments based on agreed-upon terms. The Company generally does not require any security or collateral to support its receivables. The collection is primarily through Amazon and the collection period is usually less than 7 days. The Company performs on-going evaluations of its customers and maintains an allowance for credit losses as the Company deems necessary or appropriate. As of December 31, 2023 and 2022, the Company did not deem it necessary to have an allowance for bad debt or doubtful accounts.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

Inventory and Cost of Goods Sold

Inventory and Cost of Goods Sold - The Company’s inventory consists mainly of finished goods. Inventories are stated at the lower of cost or net realizable value. Cost is principally determined on a first-in-first-out basis. The Company’s costs include the amounts it pays manufacturers for product, tariffs and duties associated with transporting product across national borders, and freight costs associated with transporting the product from its manufacturers to its warehouses, as applicable. The merchandise with terms of FOB shipping point from vendors was recorded as the inventory-in-transit when inventory left the shipping dock of the vendors but not yet reached the receiving dock of the Company. Management continually evaluates its estimates and judgments including those related to merchandise inventory.

The “Cost of revenues” line item in the audited consolidated statements of operations is principally inventory sold to customers during the reporting period.

Policy for inventory allowance: The Company writes down the cost of obsolete and slow-moving inventories to the estimated net realizable value, based on inventory obsolescence trends, historical experience, forecasted consumer demand and application of the specific identification method. As of December 31, 2023 and 2022, $675,886 and $842,263 was written down from the cost of inventories to their net realizable values, respectively. Full inventory allowance is recorded for the inventory SKU not sold for more than one year.

Property and Equipment

Property and Equipment - Property and equipment are recorded at cost and depreciated or amortized over the estimated useful life of the asset using the straight-line method. The Company elected to expense any individual property and equipment items under $2,500.

The majority of the Company’s property and equipment is computers, and the estimated useful life is 3 years.

Impairment of Long lived assets

Impairment of Long lived assets- In accordance with ASC 360-10-35-17, if the carrying amount of an asset or asset group (in use or under development) is evaluated and found not to be fully recoverable (the carrying amount exceeds the estimated gross, undiscounted cash flows from use and disposition), then an impairment loss must be recognized. The impairment loss is measured as the excess of the carrying amount over the asset’s (or asset group’s) fair value. The Company did not record any impairment charges for the years ended December 31, 2023 and 2022.

Leases

Leases - Leases are classified at lease commencement date as either a finance lease or an operating lease. A lease is a finance lease if it meets any of the following criteria: (a) the lease transfers ownership of the underlying asset to the lessee by the end of the lease term, (b) the lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise, (c) the lease term is for the major part of the remaining economic life of the underlying asset, (d) the present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments equals or exceeds substantially all of the fair value of the underlying asset or (e) the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. When none of the foregoing criteria is met, the lease shall be classified as an operating lease.

The Company typically utilizes operating leases for its office space requirements. This means that the Company leases office space, categorizing the lease arrangement as an operating lease. Under this arrangement, The Company does not hold ownership of the leased assets but instead pays rent for the right to use them.

For a lessee, a lease is recognized as a Operating lease right-of-use asset with a corresponding liability at lease commencement date. The lease liability is calculated at the present value of the lease payments not yet paid by using the lease term and discount rate determined at lease commencement. The Operating lease right-of-use asset is calculated as the lease liability, increased by any initial direct costs, and prepaid lease payments, reduced by any lease incentives received before lease commencement. The Operating lease right-of-use asset itself is amortized on a straight-line basis unless another systematic method better reflects how the underlying asset will be used by and benefits the lessee over the lease term.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

Fair Value Measurement

Fair Value Measurement - Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The carrying amounts reported in the consolidated balance sheets for cash, accounts receivable, accounts payable, due to related parties and short-term debt at fair value or cost, which approximates fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value:

	i.	Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets.

	ii.	Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

	iii.	Level 3 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

Revenue Recognition

Revenue Recognition - The Company accounts for revenue in accordance with FASB Accounting Standard Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”). The Company adopted ASC Topic 606 as of January 1, 2019. The standard did not affect the Company’s consolidated financial position, or cash flows. There were no changes to the timing of revenue recognition as a result of the adoption.

The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers, which provided a five-step model for recognizing revenue from contracts with customers as follows:

	●	Identify the contract with a customer.

	●	Identify the performance obligations in the contract.

	●	Determine the transaction price.

	●	Allocate the transaction price to the performance obligations in the contract.

	●	Recognize revenue when or as performance obligations are satisfied.

The Company evaluated principal versus agent considerations to determine whether it is appropriate to record platform fees paid to Amazon as an expense or as a reduction of revenue. Platform fees are recorded as sales and distribution expenses and are not recorded as a reduction of revenue because the Company as principal owns and controls all the goods before they are transferred to the customer. The Company can, at any time, direct Amazon, similarly, other third-party logistics providers (“Logistics Providers”), to return the Company’s inventories to any location specified by the Company. It is the Company’s responsibility to make any returns made by customers directly to Logistics Providers and the Company retains the back-end inventory risk. Further, the Company is subject to credit risk (i.e., credit card chargebacks), establishes prices of its products, can determine who fulfills the goods to the customer (Amazon or the Company) and can limit quantities or stop selling the goods at any time. Based on these considerations, the Company is the principal in this arrangement.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

The Company derives its revenue from the sale of consumer products. The Company sells its products directly to consumers through online retail channels. The Company considers customer order confirmations to be a contract with the customer. For each contract, the promise to transfer products is identified as the sole performance obligation. Transaction prices are evaluated for potential refunds or adjustments, determining the net consideration expected. Revenues for the years ended December 31, 2023 and 2022 were recognized at a point in time. Customer confirmations are executed at the time an order is placed through third-party online channels. For all of the Company’s sales and distribution channels, revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligation is satisfied), which typically occurs at shipment date. As a result, the Company has a present and unconditional right to payment and record the amount due from the customer in accounts receivable.

The customer can return the products within 30 days after the products are delivered and estimated sales returns are calculated based on the expected returns. The rates of sales returns were 6.45% and 5.78% of gross sales for the years ended December 31, 2023 and 2022, respectively.

From time to time, the Company offers price discounts on certain selected items to stimulate the sales of those items. Revenue is measured as the amount of consideration for which the Company expects to be entitled in exchange for transferring goods. Consistent with this policy, the Company reduces the amount of these discounts from the gross revenue to calculate the net revenue recorded on the statement of operations.

A performance obligation, defined as the promise to transfer a distinct good, is the unit of account in ASC Topic 606. The Company treats shipping and handling as fulfillment activities, not separate performance obligations. Costs for shipping and handling were $31,187,009 and $21,145,605 for the years ended December 31, 2023 and 2022, respectively, recorded as selling and marketing expenses.

Segment Information

Segment Information – The Company has only one segment, which is online retail (e-commerce).

The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. The Company’s chief operating decision maker has been identified as the chief executive officer of the Company who reviews financial information of separate operating segments based on U.S. GAAP. The chief operating decision maker now reviews results analyzed by customers. This analysis is only presented at the revenue level with no allocation of direct or indirect costs. Consequently, the Company has determined that it has only one operating segment.

Income Taxes

Income Taxes - Income tax expense includes U.S. (federal and state) and foreign income taxes.

The Company also complied with state tax codes and regulations, including with respect to California franchise taxes. Management has evaluated its tax positions and has concluded that the Company had taken no uncertain tax positions that could require adjustment or disclosure in the financial statements to comply with provisions set forth in ASC section 740, Income Taxes.

Deferred tax assets represent amounts available to reduce income taxes payable in future periods. Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the extent we believe they will not be realized. We consider many factors when assessing the likelihood of future realization of our deferred tax assets, including recent cumulative loss experience and expectations of future earnings, capital gains and investment in such jurisdiction, the carry-forward periods available to us for tax reporting purposes, and other relevant factors.

Presentation of Sales Taxes

Presentation of Sales Taxes - Governmental authorities impose sales tax on all of the Company’s sales to nonexempt customers. The Company collects sales tax from customers and remits the entire amount to the governmental authorities. The Company’s accounting policy is to exclude the tax collected and remitted from revenues and cost of revenues.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

The Company assesses sales tax payable including any related interest and penalties and accrues these estimates on its financial statements. Pursuant to the Wayfair decision, each state enforces sales tax collection at different dates. The Company collects and remits sales tax in accordance with state regulations. The Company estimates that as of December 31, 2023 and 2022, it owed $288,466 and $288,466, respectively, in sales taxes along with penalties and interest resulting from late filings.

Concentration of Credit Risks

Concentration of Credit Risks - Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company maintains cash with various domestic and foreign financial institutions of high credit quality. The Company performs periodic evaluations of the relative credit standing of all of the aforementioned institutions.

The Company maintains reserves for potential credit losses on customer accounts when deemed necessary. Significant customers are those which represent more than 10% of the Company’s total net revenue or gross accounts receivable balance at the balance sheet date. During the years ended December 31, 2023 and 2022, the Company had no customer that accounted for 10% or more of total net revenues. In addition, as of December 31, 2023 and 2022, the Company had no customer that accounted for 10% or more of gross accounts receivable. As of December 31, 2023 and 2022, all of the Company’s accounts receivable were held by the Company’s sales platform agent, Amazon, which collects money on the Company’s behalf from its customers. Therefore, the Company’s accounts receivable are comprised of receivables due from Amazon and the reimbursement from Amazon to the Company usually takes less than 7 days.

The Company’s business is reliant on one key vendor which currently provides the Company with its sales platform, logistics and fulfillment operations, including certain warehousing for the Company’s net goods, and invoicing and collection of its revenue from the Company’s end customers. During the years ended December 31, 2023 and 2022, approximately 96% and 100% of the Company’s revenue was through or with the Amazon sales platform.

Foreign Currency Exchange Risk

Foreign Currency Exchange Risk - The Company is exposed to foreign currency exchange risk through its foreign subsidiary in Taiwan. The Company does not hedge foreign currency translation risk in the net assets and income reported from these sources.

Advertising and Promotion Expenses

Advertising and Promotion Expenses – Our policy is to recognize advertising costs as they are incurred. Advertising and promotion expenses were $4,605,629 and $3,539,946 for the years ended December 31, 2023 and 2022, respectively.

Commitments and Contingencies

Commitments and Contingencies - Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred.

Related Parties

Related Parties - The Company accounts for related party transactions in accordance with FASB ASC Topic 850 (Related Party Disclosures). A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests is also a related party.

Earnings per Share

Earnings per Share - The Company computes basic earnings per common share using the weighted-average number of shares of common stock outstanding during the period. For the period in which the Company reports net losses, diluted net loss per share attributable to stockholders is the same as basic net loss per share attributable to stockholders, because potentially dilutive common shares are not assumed to have been issued if their effect is anti-dilutive. There were no dilutive securities or other items that would affect earnings per share for the years ended December 31, 2023 and 2022. Therefore, the diluted earnings per share is the same as the basic earnings per share.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

Share Issued for Services

Share Issued for Services – Stock-based compensation cost for all equity-classified stock awards expected to vest is measured at fair value on the date of grant and recognized over the service period.

Nature of Operations and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Nature of Operations and Summary of Significant Accounting Policies

NOTE 1 - Nature of Operations and Summary of Significant Accounting Policies

Hour Loop, Inc. (“Hour Loop” or the “Company”) is a technology-enabled consumer products company that uses machine learning and data analytics to design, develop, market and sell products. Hour Loop predominantly operates through online retail channels such as Amazon, Walmart, and Hourloop.com. The Company, as an Internet marketplace seller, sells products in multiple categories, including home/garden décor, toys, kitchenware, apparel, and electronics. The Company has only one segment, which is online retail (e-commerce).

The Company was incorporated on January 13, 2015 under the laws of the state of Washington. On April 7, 2021, the Company was converted from a Washington corporation to a Delaware corporation.

In 2019, Hour Loop formed a wholly owned subsidiary, Flywheel Consulting Ltd. (“Flywheel”) located in Taiwan, to provide business operating consulting services exclusively to Hour Loop.

The relevant exchange rates are listed below:

	December 31,		December 31,
	2023		2022

Period NTD: USD exchange rate		30.655		30.660
Period Average NTD: USD exchange rate		31.221		30.618

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

Going Concern Consideration

In order to strengthen the Company’s liquidity in the foreseeable future, the Company has taken the following measures:

	i.	Taking various cost control measures to tighten the costs of operations; and

	ii.	Implementing various strategies to enhance sales and profitability.

Management believes that there is sufficient working capital to sustain operations longer than twelve months, and the majority shareholders are committed to provide additional funding when needed.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

The “Cost of revenues” line item in the audited consolidated statements of operations is principally inventory sold to customers during the reporting period.

The majority of the Company’s property and equipment is computers, and the estimated useful life is 3 years.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

	i.	Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets.

	ii.	Level 2 — Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

	iii.	Level 3 — Valuations based on unobservable inputs reflecting our own assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment.

	●	Identify the contract with a customer.

	●	Identify the performance obligations in the contract.

	●	Determine the transaction price.

	●	Allocate the transaction price to the performance obligations in the contract.

	●	Recognize revenue when or as performance obligations are satisfied.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

Segment Information – The Company has only one segment, which is online retail (e-commerce).

Income Taxes - Income tax expense includes U.S. (federal and state) and foreign income taxes.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Sales tax payable	$ 288,466	$ 288,466
Refund liability	708,629	285,009
Accrued payroll	297,059	295,673
Accrued bonus	399,067	468,209
Accrued expenses	215,485	182,294
Accrued interest	29,712	159,042
Other payables	34,094	64,279
Total	$ 1,972,512	$ 1,742,972

Stockholders’ Equity (Details Narrative) - USD ($)										12 Months Ended
Stockholders’ Equity (Details Narrative) - USD ($)	Oct. 02, 2023	Jun. 30, 2023	Apr. 03, 2023	Jan. 04, 2023	Sep. 30, 2022	Jun. 30, 2022	May 20, 2022	Feb. 01, 2022	Jan. 11, 2022	Dec. 31, 2023	Dec. 31, 2022
Subsidiary, Sale of Stock [Line Items]
Preferred stock, shares authorized										10,000,000	10,000,000
Preferred stock, par value										$ 0.0001	$ 0.0001
Preferred stock, shares issued										0	0
Preferred stock, shares outstanding										0	0
Common stock, shares authorized										300,000,000	300,000,000
Common stock, par value										$ 0.0001	$ 0.0001
Common stock, shares issued										35,082,464	35,047,828
Common stock, shares outstanding										35,082,464	35,047,828
Other stock issuance cost										$ 9,542	$ 9,950
Increase in additional paid in capital											$ 5,580,192
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Shares issued during initial public offering											1,725,000
Increase in additional paid in capital											$ 172
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Shares issued price per share									$ 4.00
Shares issued during initial public offering									1,725,000
Gross proceeds from initial public offering									$ 6,900,000
Stock issuance expenses									743,640
Proceeds from initial public offering									6,156,360
Other stock issuance cost									576,168
IPO [Member] \| Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Increase in common stock value									172
Increase in additional paid in capital									$ 5,580,020
Maggie Yu [Member] \| Executive Employment Agreements [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares vested, shares								1,772
Shares issued price per share								$ 4.00
Maggie Yu [Member] \| Executive Employment Agreements or Director Agreements [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares vested, shares			1,365
Shares issued price per share			$ 2.1985
Michael Lenner [Member] \| Director Agreements [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares vested, shares								1,750
Shares issued price per share								$ 4.00
Michael Lenner [Member] \| Executive Employment Agreements or Director Agreements [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares vested, shares			1,365
Shares issued price per share			$ 2.1985
Douglas Branch [Member] \| Director Agreements [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares vested, shares								1,750
Shares issued price per share								$ 4.00
Douglas Branch [Member] \| Executive Employment Agreements or Director Agreements [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares vested, shares			1,365
Shares issued price per share			$ 2.1985
Alan Gao [Member] \| Director Agreements [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares vested, shares								709
Shares issued price per share								$ 4.00
Alan Gao [Member] \| Executive Employment Agreements or Director Agreements [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares vested, shares			1,365	1,001	1,050	1,049	916
Shares issued price per share			$ 2.1985	$ 2.9985	$ 2.8565	$ 2.8605	$ 3.2745
Sam Lai [Member] \| Executive Employment Agreements or Director Agreements [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares vested, shares			1,365
Shares issued price per share			$ 2.1985
Hillary Bui [Member] \| Executive Employment Agreements or Director Agreements [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares vested, shares	1,948	1,752	606
Shares issued price per share	$ 1.5400	$ 1.7125	$ 2.1985

Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Total	$ 1,304,215	$ 549,320
Operating lease right of use lease assets	172	(139)
Inventories allowance	169,725	209,131
Net loss carry forward	1,134,318	340,328
Total	1,304,215	549,320
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Total	1,101,836	464,594
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Total	$ 202,379	$ 84,726

Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Current Assets

NOTE 5 - Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets was comprised of the following as of December 31, 2023 and 2022, respectively:

	December 31,		December 31,
	2023		2022

Advance to suppliers	$	49,298	$	182,105
Prepaid expenses-other		61,739		55,731
Lease refundable deposit		81,522		80,235
Tax receivable		305,253		413,895
Other current assets		7,161		9,277
Total	$	504,973	$	741,243

As of December 31, 2023 and 2022, there was a tax receivable of $305,253 and $413,895, respectively, due to prepaid income taxes.

Schedule of Foreign Currency Exchange Rates (Details)	Dec. 31, 2023	Dec. 31, 2022
Period NTD: USD Exchange Rate [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Foreign currency exchange rate	30.655	30.660
Period Average NTD: USD Exchange Rate [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Foreign currency exchange rate	31.221	30.618

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Schedule of Operating Leases Cost

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases

	Flywheel			Flywheel			Flywheel
	June 2022			August 2022			February 2023
Initial lease term	to May 2024			to July 2024			to March 2025

Initial recognition of Operating lease right-of-use assets	$	105,632		$	147,547		$	28,652
Weighted-average remaining lease term at
December 31, 2023		0.42			0.58			1.17
Weighted-average discount rate at
December 31, 2023		8.11	%		2.50	%		3.20	%

Schedule of Operating Lease Liabilities

The future minimum lease payment schedule for all operating leases as of December 31, 2023, is as disclosed below.

Schedule of Operating Lease Liabilities

For the Year Ending December 31,	Amount

2024	$	83,358
2025		2,449
2026		-
2027 and thereafter		-
Total minimum lease payments		85,807
Less: effect of discounting		(1,175	)
Present value of the future minimum lease payment		84,632
Less: operating lease liabilities-current		(82,269	)
Total operating lease liabilities-non-current	$	2,363

Accrued Expenses and Other Current Liabilities (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Related interest and penalities	$ 78,947	$ 78,947
Refund liability	708,629	285,009
Accrued bonus	$ 399,067	$ 468,209

Income Tax (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The components of income taxes benefit are as follows:

	December 31,			December 31,
	2023			2022
Federal rate		21.00	%		21.00	%
Blended state tax rate		4.11	%		3.83	%
Effective tax rate		25.11	%		24.83	%

Schedule of Effective Tax Rate Reconciliation

Effective tax Rate Reconciliation, for the Year Ending December 31, 2023
			%			$
Pretax Book Income	(3,160,454	)		21.00	%		(663,695	)
Permanent Differences	78,048			-0.52	%		16,390
PY Federal Perm True-up	73,914			-0.49	%		15,522
State income tax	24,136			3.12	%		(98,586	)
Other Deferred adjustment	-			0.01	%		(391	)
Total Tax benefits				23.12	%		(730,760	)

Effective tax Rate Reconciliation, for the Year Ending December 31, 2022
			%			$
Pretax Book Income	(1,939,786	)		21.00	%		(407,354	)
Permanent Differences	27,363			-0.30	%		5,746
PY Federal Perm True-up	95,840			-1.04	%		20,126
State income tax	10,741			3.55	%		(68,890	)
Other Deferred adjustment	-			0.61	%		(11,791	)
Total Tax benefits				23.83	%		(462,163	)

Schedule of Tax Expense Summary

	Current			Deferred		Total
	Income Tax			Income Tax		Income Tax
Tax Expense Summary, for the Year Ended December 31, 2023	Expense			Benefit		Benefit
Federal	$	(637,242	)	$	-	$	(637,242	)
State		(117,654	)		24,136		(93,518	)
Total tax expense (benefit)	$	(754,896	)	$	24,136	$	(730,760	)

	Current		Deferred			Total
	Income Tax		Income Tax			Income Tax
Tax Expense Summary, for the Year Ended December 31, 2022	Expense		Benefit			Benefit
Federal		30,928		(426,457	)		(395,529	)
State		10,741		(77,375	)		(66,634	)
Total Tax Expense (Benefit)		41,669		(503,832	)		(462,163	)

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets at December 31, 2023 and 2022 were as follows:

	Deferred Tax		Deferred Tax
	Assets		Assets
Deferred Tax Assets summary	December 31, 2023		December 31, 2022
Federal	$	1,101,836	$	464,594
State		202,379		84,726
Total	$	1,304,215	$	549,320

	Deferred Tax		Deferred Tax
	Assets		Assets
Deferred Tax Assets summary	December 31, 2023		December 31, 2022
Operating lease right of use lease assets	$	172	$	(139	)
Inventories allowance		169,725		209,131
Net loss carry forward		1,134,318		340,328
Total	$	1,304,215	$	549,320

Related Party Balances and Transactions

12 Months Ended

Dec. 31, 2023

Related Party Balances and Transactions

NOTE 11 - Related Party Balances and Transactions

From time to time, the Company receives loans and advances from its stockholders to fund its operations. Stockholder loans and advances are non-interest bearing and payable on demand. As of December 31, 2023 and 2022, the Company had $4,170,418 and $4,170,418 due to related parties (Sam Lai, the Company’s Chairman of the Board, Chief Executive Officer and Interim Chief Financial Officer and a significant stockholder of the Company; and Maggie Yu, the Company’s Senior Vice President, a member of the Company’s Board of Directors and a significant stockholder of the Company), respectively. The loan is memorialized in a Loan Agreement dated October 15, 2021. The annual interest rate is 2% and the repayment date is December 31, 2022.

On December 28, 2022, the Company, Mr. Lai and Ms. Yu agreed to extend the term of the loan for another two years, with a revised maturity date of December 31, 2024. The annual interest rate is 5.5%. On December 31, 2023, the Company paid accrued interest in full.

On December 30, 2020, the Company and its then-sole stockholders (Sam Lai and Maggie Yu) entered into a loan agreement in the original principal amount of $1,041,353. The loan was later modified on September 16, 2021, and converted into an interest-bearing (2%) loan with a repayment date of December 31, 2021. On January 18, 2022 and January 27, 2023, the Company repaid the loan principal and accrued interest in full.

For the years ended on December 31, 2023 and 2022, the Company made repayments to related parties of $-0- and $1,024,188, respectively.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Dec. 31, 2021	$ 3,330	$ 4,291	$ 2,654,695	$ (7,871)	$ 2,654,445
Balance, shares at Dec. 31, 2021	33,300,000
Issuance of shares	$ 172	5,580,020			5,580,192
Issuance of shares, shares	1,725,000
Stock-based compensation	$ 4	91,009			91,013
Stock-based compensation, shares	22,828
Currency translation adjustments				(15,171)	(15,171)
Net loss			(1,477,623)		(1,477,623)
Balance at Dec. 31, 2022	$ 3,506	5,675,320	1,177,072	(23,042)	6,832,856
Balance, shares at Dec. 31, 2022	35,047,828
Stock-based compensation	$ 2	52,330			52,332
Stock-based compensation, shares	34,636
Currency translation adjustments				(2,597)	(2,597)
Net loss			(2,429,694)		(2,429,694)
Balance at Dec. 31, 2023	$ 3,508	$ 5,727,650	$ (1,252,622)	$ (25,639)	$ 4,452,897
Balance, shares at Dec. 31, 2023	35,082,464

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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Subsequent Events (Details Narrative) - Executive Employment Agreements or Director Agreements [Member] - $ / shares	Jan. 02, 2024	Oct. 02, 2023	Jun. 30, 2023	Apr. 03, 2023	Jan. 04, 2023	Sep. 30, 2022	Jun. 30, 2022	May 20, 2022
Hillary Bui [Member]
Subsequent Event [Line Items]
Number of shares vested, shares		1,948	1,752	606
Shares issued price per share		$ 1.5400	$ 1.7125	$ 2.1985
Hillary Bui [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares vested, shares	2,139
Shares issued price per share	$ 1.4025
Maggie Yu [Member]
Subsequent Event [Line Items]
Number of shares vested, shares				1,365
Shares issued price per share				$ 2.1985
Maggie Yu [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares vested, shares	2,139
Shares issued price per share	$ 1.4025
Sam Lai [Member]
Subsequent Event [Line Items]
Number of shares vested, shares				1,365
Shares issued price per share				$ 2.1985
Sam Lai [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares vested, shares	2,139
Shares issued price per share	$ 1.4025
Michael Lenner [Member]
Subsequent Event [Line Items]
Number of shares vested, shares				1,365
Shares issued price per share				$ 2.1985
Michael Lenner [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares vested, shares	2,139
Shares issued price per share	$ 1.4025
Douglas Branch [Member]
Subsequent Event [Line Items]
Number of shares vested, shares				1,365
Shares issued price per share				$ 2.1985
Douglas Branch [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares vested, shares	2,139
Shares issued price per share	$ 1.4025
Alan Gao [Member]
Subsequent Event [Line Items]
Number of shares vested, shares				1,365	1,001	1,050	1,049	916
Shares issued price per share				$ 2.1985	$ 2.9985	$ 2.8565	$ 2.8605	$ 3.2745
Alan Gao [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares vested, shares	2,139
Shares issued price per share	$ 1.4025

Property and Equipment (Details Narrative) - USD ($)	12 Months Ended
Property and Equipment (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Payment to acquire property and equipment	$ 14,823	$ 339,518
Depreciation expense	138,001	79,084
Disposal or pledge	$ 0	$ 0

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities were comprised of the following as of December 31, 2023 and 2022, respectively:

	December 31,		December 31,
	2023		2022

Sales tax payable	$	288,466	$	288,466
Refund liability		708,629		285,009
Accrued payroll		297,059		295,673
Accrued bonus		399,067		468,209
Accrued expenses		215,485		182,294
Accrued interest		29,712		159,042
Other payables		34,094		64,279
Total	$	1,972,512	$	1,742,972

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment were comprised of the following as of December 31, 2023 and 2022, respectively:

Schedule of Property and Equipment

	December 31,			December 31,
	2023			2022

Property and equipment	$	368,729		$	353,574
Accumulated depreciation and amortization		(219,941	)		(79,379	)
Total property and equipment, net	$	148,788		$	274,195

Recent Accounting Pronouncements Not Yet Adopted

12 Months Ended

Dec. 31, 2023

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Pronouncements Not Yet Adopted

NOTE 2 - Recent Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU 2023-07 on Improvements to Reportable Segment Disclosures for entities that are managed as a single reportable segment that governs when an entity is expected to conclude that consolidated net income is the measure of segment profit or loss consistent with U.S. GAAP. The Updates are effective for annual periods beginning after January 1, 2024. The Company will adopt and apply the guidance in fiscal year 2024. There is no material impact expected to our results of operations, cash flows and financial condition at the time of adoption, however the Company is still assessing the disclosure impact. In December 2023, the FASB issued ASU 2023-09 on Improvements to Income Tax Disclosures that require greater disaggregation of income tax disclosures to the income rate tax rate reconciliation and income taxes paid. The Updates are effective for annual periods beginning after December 15, 2024. The Company will adopt and apply the guidance in fiscal year 2025. There is no material impact expected to our results of operations, cash flows and financial condition at the time of adoption, however the Company is still assessing the disclosure impact.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Accounts Payable and Credit Cards Payable (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Accounts Payable and Credit Cards Payable

	December 31,		December 31,
	2023		2022

Accounts payable	$	3,812,954	$	6,651,721
Credit cards payable		4,404,445		5,231,532

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 15 - Commitments and Contingencies

As of December 31, 2023 and 2022, the Company had no material or significant commitments outstanding.

From time-to-time, the Company is subject to various litigation and other claims in the normal course of business. The Company establishes liabilities in connection with legal actions that management deems to be probable and estimable. As of December 31, 2023 and 2022, the Company had no pending legal proceedings. No amounts have been accrued in the audited consolidated financial statements with respect to any such matters.

Stockholders’ Equity

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Stockholders’ Equity

NOTE 14 - Stockholders’ Equity

Preferred Stock

As of December 31, 2023 and 2022, the Company had 10,000,000 shares of preferred stock, $0.0001 par value per share, authorized. The Company did not have any preferred shares issued and outstanding as of December 31, 2023 and 2022. The holders of the preferred stock are entitled to receive dividends, if and when declared by the Board of Directors.

Common Stock

As of December 31, 2023 and 2022, the Company had 300,000,000 shares of common stock, $0.0001 par value per share, authorized. As of December 31, 2023 and 2022, there were 35,082,464 and 35,047,828 shares of common stock issued and outstanding, respectively.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

Share Issuances for Stock Compensation

On February 1, 2022, the Company issued 1,772 shares of Company common stock to each of Sam Lai, our Chief Executive Officer, and Maggie Yu, our Senior Vice President, with a fair market value of $4.00 per share as compensation for the services to the Company pursuant to the terms of their Executive Employment Agreements with the Company.

On February 1, 2022, the Company issued 1,750, 1,750, and 709 shares of Company common stock to Michael Lenner, Douglas Branch, and Alan Gao, respectively, with a fair market value of $4.00 per share as compensation for the services as directors to the Company pursuant to the terms of their Director Agreements with the Company.

On May 20, 2022, the Company issued 916 shares of Company common stock to each of Sam Lai, Maggie Yu, Michael Lenner, Douglas Branch, and Alan Gao, with a fair market value of $3.2745 per share as compensation for the services as executives or directors to the Company pursuant to the terms of their respective Executive Employment Agreements or Director Agreements with the Company.

On June 30, 2022, the Company issued 1,049 shares of Company common stock to each of Sam Lai, Maggie Yu, Michael Lenner, Douglas Branch, and Alan Gao, with a fair market value of $2.8605 per share as compensation for the services as executives or directors to the Company pursuant to the terms of their respective Executive Employment Agreements or Director Agreements with the Company.

On September 30, 2022, the Company issued 1,050 shares of Company common stock to each of Sam Lai, Maggie Yu, Michael Lenner, Douglas Branch, and Alan Gao, with a fair market value of $2.8565 per share as compensation for the services as executives or directors to the Company pursuant to the terms of their respective Executive Employment Agreements or Director Agreements with the Company.

On January 4, 2023, the Company issued 1,001 shares of Company common stock to each of Sam Lai, Maggie Yu, Michael Lenner, Douglas Branch, and Alan Gao, with a fair market value of $2.9985 per share as compensation for the services as executives or directors to the Company pursuant to the terms of their respective Executive Employment Agreements or Director Agreements with the Company.

On April 3, 2023, the Company issued 1,365, 1,365, 1,365, 1,365, 1,365 and 606 shares of Company common stock to each of Sam Lai, Maggie Yu, Michael Lenner, Douglas Branch, Alan Gao and Hillary Bui, respectively, with a fair market value of $2.1985 per share as compensation for the services as executives or directors of the Company pursuant to the terms of their respective Executive Employment Agreements or Director Agreements with the Company.

On June 30, 2023, the Company issued 1,752 shares of Company common stock to each of Sam Lai, Maggie Yu, Michael Lenner, Douglas Branch, Alan Gao and Hillary Bui, with a fair market value of $1.7125 per share as compensation for the services as executives or directors of the Company pursuant to the terms of their respective Executive Employment Agreements or Director Agreements with the Company.

On October 2, 2023, the Company issued 1,948 shares of Company common stock to each of Sam Lai, Maggie Yu, Michael Lenner, Douglas Branch, Alan Gao and Hillary Bui, with a fair market value of $1.5400 per share as compensation for the services as executives or directors of the Company pursuant to the terms of their respective Executive Employment Agreements or Director Agreements with the Company.

IPO Proceeds

On January 11, 2022, we closed our initial public offering (the “IPO”) of 1,725,000 shares of common stock, which included the full exercise of the underwriter’s over-allotment option, at a public offering price of $4.00 per share, for aggregate gross proceeds of $6,900,000, prior to deducting underwriting discounts, commissions, and other offering expenses. Our common stock began trading on The Nasdaq Capital Market on January 7, 2022, under the symbol “HOUR”. EF Hutton, division of Benchmark Investments, LLC, acted as sole book-running manager for the offering. The net proceeds of the offering, after deducting expenses of $743,640, were $6,156,360. Meanwhile, other costs incurred in the IPO totaled $576,168, the main nature of which was professional fees. As a result, common stock increased by $172, and additional paid-in capital increased by $5,580,020.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Property, Plant and Equipment [Abstract]

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Mar. 26, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-41204
Entity Registrant Name	HOUR LOOP, INC.
Entity Central Index Key	0001874875
Entity Tax Identification Number	47-2869399
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	8201 164th Ave. NE
Entity Address, City or Town	Redmond
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	98052-7615
City Area Code	(206)
Local Phone Number	385-0488
Title of 12(b) Security	Common Stock
Trading Symbol	HOUR
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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 Public Float				$ 58,217,488
Entity Common Stock, Shares Outstanding			35,095,298
Documents Incorporated by Reference [Text Block]	None
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	7000	6706
Auditor Name	HTL International, LLC	TPS Thayer, LLC
Auditor Location	Houston, Texas	Sugar Land, TX

Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Advance to suppliers	$ 49,298	$ 182,105
Prepaid expenses-other	61,739	55,731
Lease refundable deposit	81,522	80,235
Tax receivable	305,253	413,895
Other current assets	7,161	9,277
Total	$ 504,973	$ 741,243

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	35,082,464	35,047,828
Common stock, shares outstanding	35,082,464	35,047,828

Schedule of Accounts Payable and Credit Cards Payable (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accounts payable	$ 3,812,954	$ 6,651,721
Credit cards payable	$ 4,404,445	$ 5,231,532

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenues, net	$ 132,124,202	$ 95,930,091
Cost of revenues	(65,606,947)	(46,942,770)
Gross profit	66,517,255	48,987,321
Operating expenses
Selling and marketing	61,135,227	42,221,425
General and administrative	8,385,451	8,681,682
Total operating expenses	69,520,678	50,903,107
Loss from operations	(3,003,423)	(1,915,786)
Other (expenses) income
Other expense	(9,542)	(9,950)
Interest expense	(248,779)	(144,479)
Other income	101,290	13
Total other expenses	(157,031)	(24,000)
Loss before income taxes	(3,160,454)	(1,939,786)
Income tax benefit	730,760	462,163
Net loss	(2,429,694)	(1,477,623)
Other comprehensive loss
Foreign currency translation adjustments	(2,597)	(15,171)
Total comprehensive loss	$ (2,432,291)	$ (1,492,794)
Basic loss per common share	$ (0.07)	$ (0.04)
Diluted loss per common share	$ (0.07)	$ (0.04)
Weighted-average number of common shares outstanding, basic	35,066,592	34,991,666
Weighted-average number of common shares outstanding, diluted	35,066,592	34,991,666

Leases (Details Narrative)	12 Months Ended
Leases (Details Narrative)	Dec. 31, 2023 USD ($) Segment	Dec. 31, 2022 USD ($)
Number of operating segments \| Segment	1
Operating lease liabilities current	$ 82,269	$ 385,216
Operating lease liabilities non-current	2,363	64,945
Operating lease right-of-use assets	83,946	450,721
Amortization of operating lease right-of-use asset	387,446	310,161
Operating lease payments	$ 386,224	$ 283,244
Accounting Standards Update 2016-02 [Member]
Number of operating segments \| Segment	3

Property and Equipment

12 Months Ended

Dec. 31, 2023

Property and Equipment

NOTE 6 - Property and Equipment

Property and equipment were comprised of the following as of December 31, 2023 and 2022, respectively:

Schedule of Property and Equipment

	December 31,			December 31,
	2023			2022

Property and equipment	$	368,729		$	353,574
Accumulated depreciation and amortization		(219,941	)		(79,379	)
Total property and equipment, net	$	148,788		$	274,195

For the years ended December 31, 2023 and 2022, the Company purchased $14,823 and $339,518, for fixtures and equipment, respectively.

For the years ended December 31, 2023 and 2022, the Company had $138,001 and $79,084, for depreciation, respectively.

For the years ended December 31, 2023 and 2022, the Company had no disposal or pledge, respectively.

Schedule of Revenue (Details) - USD ($)	12 Months Ended
Schedule of Revenue (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Sales returns	$ (9,248,586)	$ (5,973,689)
Discounts	(2,016,407)	(1,364,233)
Total	132,124,202	95,930,091
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenue-Other	138,079,203	101,476,365
International [Member]
Disaggregation of Revenue [Line Items]
Revenue-Other	4,379,801	1,262,045
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue-Other	$ 930,191	$ 529,603

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Leases

12 Months Ended

Dec. 31, 2023

Leases

Leases

NOTE 10 - Leases

The Company had three operating leases (Flywheel’s office leases in Taiwan) as of December 31, 2023. The leased assets in Flywheel are presented as Operating lease right-of-use assets.

The table below reconciles the fixed component of the undiscounted cash flows for each of the first five years and the total remaining years to the operating lease liabilities recorded in the statements of financial position as of December 31, 2023:

Schedule of Operating Leases Cost

	Flywheel			Flywheel			Flywheel
	June 2022			August 2022			February 2023
Initial lease term	to May 2024			to July 2024			to March 2025

Initial recognition of Operating lease right-of-use assets	$	105,632		$	147,547		$	28,652
Weighted-average remaining lease term at
December 31, 2023		0.42			0.58			1.17
Weighted-average discount rate at
December 31, 2023		8.11	%		2.50	%		3.20	%

Operating lease liabilities-current as of December 31, 2023 and 2022 were $82,269 and $385,216, respectively. Operating lease liabilities-non-current as of December 31, 2023 and 2022 were $2,363 and $64,945, respectively. The Operating lease right-of-use assets balance as of December 31, 2023 and 2022, were $83,946 and $450,721, respectively.

For the years ended December 31, 2023 and 2022, the amortization of the Operating lease right-of-use asset was $387,446 and $310,161, respectively. These amounts were recorded in general and administrative expenses. Additionally, for the years ended December 31, 2023 and 2022, the Company made lease payments of $386,224 and $283,244, respectively, which were included in the operating cash flows statement.

The future minimum lease payment schedule for all operating leases as of December 31, 2023, is as disclosed below.

Schedule of Operating Lease Liabilities

For the Year Ending December 31,	Amount

2024	$	83,358
2025		2,449
2026		-
2027 and thereafter		-
Total minimum lease payments		85,807
Less: effect of discounting		(1,175	)
Present value of the future minimum lease payment		84,632
Less: operating lease liabilities-current		(82,269	)
Total operating lease liabilities-non-current	$	2,363

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

Income Tax (Details Narrative) - USD ($)	12 Months Ended
Income Tax (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Uncertain tax position	$ 0	$ 0
Net operating lossses	$ 2,429,694	$ 1,477,623
Operating loss carry forward term	20 years

Inventory (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventory was comprised of the following as of December 31, 2023 and 2022, respectively:

Schedule of Inventory

	December 31,			December 31,
	2023			2022

Inventory	$	13,377,530		$	14,911,735
Inventory-in-transit		1,574,911			4,732,057
Allowance		(675,886	)		(842,263	)
Total	$	14,276,555		$	18,801,529

Schedule of Inventory (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventory	$ 13,377,530	$ 14,911,735
Inventory-in-transit	1,574,911	4,732,057
Allowance	(675,886)	(842,263)
Total	$ 14,276,555	$ 18,801,529

Short-Term Loan

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Short-Term Loan

NOTE 7 - Short-Term Loan

Line of Credit

On June 18, 2019, the Company signed a line of credit agreement in the amount of $785,000 with Bank of America. The line of credit matures on June 18, 2024 and bears interest at a rate of 8.11% per annum.

HOUR LOOP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 and 2022

As of December 31, 2023 and 2022, the outstanding balance under the Bank of America line of credit was $-0- and $-0-, respectively. Also, the Company had accrued interest expense of $27,996 as of December 31, 2023 that is due on June 18, 2024. Accrued interest expense has been recorded in the accrued expenses on the balance sheet.

On August 18, 2022, Flywheel signed a line of credit agreement in the amount of $6,940,063 with Taishin International Bank. The line of credit matures on August 30, 2023 and bears interest at a rate of 3.2% per annum.

On August 11, 2023, the term of the loan was extended for an additional year, revising the maturity date to August 30, 2024. The annual interest rate remains at 3.2%.

As of December 31, 2023 and 2022, the outstanding balance under the Taishin International Bank line of credit was $652,422 and $652,316, respectively. On December 31, 2023, the Company accrued interest expense of $1,715.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1B
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

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-Topic 470
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

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-Topic 470
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Accounts Payable and Credit Cards Payable

12 Months Ended

Dec. 31, 2023

Accounts Payable and Credit Cards Payable

NOTE 8 - Accounts Payable and Credit Cards Payable

	December 31,		December 31,
	2023		2022

Accounts payable	$	3,812,954	$	6,651,721
Credit cards payable		4,404,445		5,231,532

The company’s accounts payable represent amounts owed to suppliers or other creditors for goods or services purchased but not yet paid for. As of December 31, 2023 and 2022, there were accounts payable of $3,812,954 and $6,651,721, respectively.

The Company’s credit cards payable consisted of outstanding balances on credit cards held by the Company. As of December 31, 2023 and 2022, there was a credit cards payable of $4,404,445 and $5,231,532, respectively.

Subsequent Events

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

NOTE 16 - Subsequent Events

On January 2, 2024, the Company issued 2,139 shares of Company common stock to each of Sam Lai, Maggie Yu, Michael Lenner, Douglas Branch, Alan Gao and Hillary Bui, with a fair market value of $1.4025 per share as compensation for the services as executives or directors of the Company pursuant to the terms of their respective Executive Employment Agreements or Director Agreements with the Company.

The Company has evaluated subsequent events from the balance sheet date through March 26, 2024, the date at which the financial statements were available to be issued, and determined that, apart from the events mentioned above, there are no other subsequent events to disclose.

Schedule of Operating Lease Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Leases
2024	$ 83,358
2025	2,449
2026
2027 and thereafter
Total minimum lease payments	85,807
Less: effect of discounting	(1,175)
Present value of the future minimum lease payment	84,632
Less: operating lease liabilities-current	(82,269)	$ (385,216)
Total operating lease liabilities-non-current	$ 2,363	$ 64,945

Cash (Tables)

12 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents

Cash was comprised of the following as of December 31, 2023 and 2022, respectively:

Schedule of Cash and Cash Equivalents

	December 31,		December 31,
	2023		2022

Checking account	$	338,733	$	939,323
Savings account and cash on hand		2,145,420		3,623,266
Total	$	2,484,153	$	4,562,589

Schedule of Property and Equipment (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and equipment	$ 368,729	$ 353,574
Accumulated depreciation and amortization	(219,941)	(79,379)
Total property and equipment, net	$ 148,788	$ 274,195

Nature of Operations and Summary of Significant Accounting Policies (Details Narrative)	12 Months Ended
	Dec. 31, 2023 USD ($) Segment	Dec. 31, 2022 USD ($)
Product Information [Line Items]
Number of operating segments \| Segment	1
Operating activities	$ 2,063,375	$ 11,603,176
Net loss	2,429,694	1,477,623
FDIC insured amount	250,000
Inventory valuation reserves	675,886	$ 842,263
Cost of property repairs and maintenance	$ 2,500
Estimated useful life	3 years
Sales return rate	6.45%	5.78%
Shipping and handling costs	$ 31,187,009	$ 21,145,605
Sales and excise tax payable	$ 288,466	288,466
Concentration risk customer	During the years ended December 31, 2023 and 2022, the Company had no customer that accounted for 10% or more of total net revenues. In addition, as of December 31, 2023 and 2022, the Company had no customer that accounted for 10% or more of gross accounts receivable
Advertising and promotion expenses	$ 4,605,629	$ 3,539,946
Customer [Member] \| Revenue Benchmark [Member] \| Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage	96.00%	100.00%

Inventory (Details Narrative) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Allowance	$ 675,886	$ 842,263

Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2023