RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2023

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE 5 – RELATED PARTY TRANSACTIONS

Advance from Customer

As of March 31, 2023 and December 31, 2022, the Company advances from the customer was $3,640 and $0, respectively.

Loan from Related Party

As of March 31, 2023 and December 31, 2022, the Company was obligated to the officer, for an unsecured, non-interest-bearing demand loan with a balance of $387,918 and $387,918, respectively.

Sales to Related Party

For the three months ended March 31, 2023 and 2022, there were no sales and no accounts receivable due to Covid-19 regulations affecting businesses operating in China.

Lease Agreement

On March 1, 2022, the Company entered into a lease agreement with Chongqing Fengpu Wanjia Biotechnology Co., Ltd for the period from March 1, 2022 to February 28, 2023. Pursuant to the lease agreement, monthly rent was lowered to RMB20,000 (approximately $3,200), payable by the 5^th of each month with the first two-month rent free. The lease was for a one-year term and the Company had the priority to renew the lease. The Company renewed the lease and has been leasing the property since February 28, 2023 for RMB20,000 per month. The lease expires on February 28, 2025.  Based on the lease agreement, $60,571 and $63,542 right-of-use (“ROU”) assets and lease liabilities was recognized as of March 31, 2023, respectively.