NOTE 11 - JOINT VENTURE

12 Months Ended

Dec. 31, 2019

Notes

NOTE 11 - JOINT VENTURE

NOTE 11 - JOINT VENTURE

Gold Gold Gold Limited (“JV”) was created in February 2018. The Company entered into a JV agreement with primary activity of trading of gold. The Company injected $12,839 (HK$100,000) to the JV during the year. The Company shared the operating loss from JV of $12,839 during the year.

Summarized financial information for joint venture is as follows:

Balance Sheets:	December 31,
	2019
Account receivables	$	406,412
Inventory		259,051
Cash and cash equivalents		957,207
Total assets		1,622,670
Other payable		(1,370,019	)
Customer deposit		(2,169,378	)
Total liabilities		(3,539,397	)
Net liabilities	$	(1,916,727	)

Statement of Operations:	December 31,
	2019
Revenue	$	-
Operating expense		(1,933,051	)
Net loss from operations		(1,933,051	)
Other income (expense):
Interest (expense) income, net		2,089
Net loss	$	(1,930,962	)