RELATED PARTY BALANCES AND TRANSACTIONS (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of amount due from and due to related parties transactions

The following is a list of director and related parties to which the Company has transactions with:

(a)

Jianping Mao (“Mao”), Human Resources Management Director of Hong Kong Takung;

(b)

Jing Wang (“Wang”), former Chief Financial Officer of the Company from June 1, 2020 through June 1, 2021 and former legal representative of Tianjin Takung during period from May 28, 2020 to September 24, 2020. On June 1, 2021, the term of the employment of Wang expired;

(c)

Sze Chan (“Chan”), Vice President of Hong Kong Takung since November 17, 2020.

Amount due from related parties, net

Amount due from related parties consisted of the following as of the years indicated:


	September 30,		December 31,
	2021		2020
		(Unaudited)
Chan (c)(i)	$	6,303,970	$	—
Wang(b)(i)		—		6,225,134
Mao(a)(ii)		—		111,099
Less: allowance for doubtful accounts (ii)		—		(111,099)
Total current amount due from a related party	$	6,303,970	$	6,225,134

Amount due to related parties

Amount due to related parties consisted of the following as of the years indicated:


	September 30,		December 31,
	2021		2020
		(Unaudited)
Chan (c)(i)	$	6,422,608	$	—
Wang (b)(i)		—		6,448,784
Total current amount due to a related party	$	6,422,608	$	6,448,784