XML 21 R11.htm IDEA: XBRL DOCUMENT v3.20.2
Loan Receivable from a Related Party
3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Loan Receivable from a Related Party

NOTE 5 – LOAN RECEIVABLE FROM A RELATED PARTY

 

Loan receivable from a related party Shenzhen Fenglian Financial Services Co., Ltd (“Shenzhen Fenglian”) amounted to $75,274 and $76,561 as of March 31, 2020 and December 31, 2019, respectively. The Company’s major shareholder Zilin Wang is also a major shareholder of Shenzhen Fenglian. In 2019, Shenzhen Fenglian signed three agreements with the Company. The Company manages money transferred from Shenzhen Fenglian. The Company and Shenzhen Fenglian should share any interest income on a 50% and 50% ratio. Loan receivable from a related party are interest free, without collateral, and due on demand.