Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

Summary of Significant Accounting Policies [Abstract]

Consolidated Financial Statements by Geographic Areas

The Company generates revenues from two geographic areas, consisting of Korea and Japan. The following enterprise-wide disclosure is prepared on a basis consistent with the preparation of the consolidated financial statements:

	June 30, 2022		December 31, 2021
Korea
Current assets	$	10,551,277	$	11,837,539
Non-current assets		2,007,920		1,965,469
Current liabilities		2,807,055		3,130,606
Japan
Current assets	$	472,899	$	603,171
Non-current assets		225		267
Current liabilities		320,046		385,511

	Six-months Period Ended June 30,				Three-months Period Ended June 30,
	2022		2021		2022		2021
Korea
Net Sales	$	4,744,892	$	7,901,637	$	2,527,454	$	4,211,656
Japan
Net Sales	$	575,406	$	707,022	$	327,216	$	347,479

Estimated Useful Lives of Property and Equipment

Property and equipment are recorded at cost. Depreciation of property and equipment is computed using the double declining balance method, based on the estimated useful lives as follows:

Facility equipment	4 years
Automobile	4 years
Office equipment	4 years

Estimated Useful Lives of Respective Asset Categories

The estimated useful lives of the respective asset categories are as follows:

Development costs	3 years
Intangible assets excluding development costs	10 years
Other Intangible assets	3 to 5 years

Fair Value Measurements by Level for Assets Measured at Fair Value on Recurring Basis

The following table summarize the Company’s fair value measurements by level at June 30, 2022 for the assets measured at fair value on a recurring basis:

	Level 1		Level 2		Level 3
Available-for-sale securities	$	-	$	-	$	240,120
Common stock purchase warrant		-		-		-
Equity purchase put option		-		-		-
Fair value, at June 30, 2022	$	-	$	-	$	240,120

The following table summarize the Company’s fair value measurements by level at December 31, 2021 for the assets measured at fair value on a recurring basis:

	Level 1		Level 2		Level 3
Available-for-sale securities	$	-	$	-	$	93,168
Common stock purchase warrant		-		-		-
Equity purchase put option		-		-		-
Fair value, at December 31, 2021	$	-	$	-	$	93,168