0001493152-21-019703.txt : 20210813 0001493152-21-019703.hdr.sgml : 20210813 20210813160247 ACCESSION NUMBER: 0001493152-21-019703 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 47 CONFORMED PERIOD OF REPORT: 20210630 FILED AS OF DATE: 20210813 DATE AS OF CHANGE: 20210813 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORGE INNOVATION DEVELOPMENT CORP. CENTRAL INDEX KEY: 0001687919 STANDARD INDUSTRIAL CLASSIFICATION: LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552] IRS NUMBER: 814635390 STATE OF INCORPORATION: NV FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-218248 FILM NUMBER: 211172021 BUSINESS ADDRESS: STREET 1: 17700 CASTLETON STREET, SUITE 469 CITY: CITY OF INDUSTRY STATE: CA ZIP: 91748 BUSINESS PHONE: 626-361-1393 MAIL ADDRESS: STREET 1: 17700 CASTLETON STREET, SUITE 469 CITY: CITY OF INDUSTRY STATE: CA ZIP: 91748 FORMER COMPANY: FORMER CONFORMED NAME: YOU-GO ENTERPRISES, LLC DATE OF NAME CHANGE: 20161019 10-Q 1 form10-q.htm
0001687919 false 12/31 Q2 0001687919 2021-01-01 2021-06-30 0001687919 2021-08-12 0001687919 2021-06-30 0001687919 2020-12-31 0001687919 2021-04-01 2021-06-30 0001687919 2020-04-01 2020-06-30 0001687919 2020-01-01 2020-06-30 0001687919 2019-12-31 0001687919 2020-06-30 0001687919 us-gaap:CommonStockMember 2020-12-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001687919 us-gaap:RetainedEarningsMember 2020-12-31 0001687919 us-gaap:CommonStockMember 2021-01-01 2021-03-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-03-31 0001687919 us-gaap:RetainedEarningsMember 2021-01-01 2021-03-31 0001687919 2021-01-01 2021-03-31 0001687919 us-gaap:CommonStockMember 2021-03-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2021-03-31 0001687919 us-gaap:RetainedEarningsMember 2021-03-31 0001687919 2021-03-31 0001687919 us-gaap:CommonStockMember 2021-04-01 2021-06-30 0001687919 us-gaap:AdditionalPaidInCapitalMember 2021-04-01 2021-06-30 0001687919 us-gaap:RetainedEarningsMember 2021-04-01 2021-06-30 0001687919 us-gaap:CommonStockMember 2021-06-30 0001687919 us-gaap:AdditionalPaidInCapitalMember 2021-06-30 0001687919 us-gaap:RetainedEarningsMember 2021-06-30 0001687919 us-gaap:CommonStockMember 2019-12-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001687919 us-gaap:RetainedEarningsMember 2019-12-31 0001687919 us-gaap:CommonStockMember 2020-01-01 2020-03-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0001687919 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0001687919 2020-01-01 2020-03-31 0001687919 us-gaap:CommonStockMember 2020-03-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0001687919 us-gaap:RetainedEarningsMember 2020-03-31 0001687919 2020-03-31 0001687919 us-gaap:CommonStockMember 2020-04-01 2020-06-30 0001687919 us-gaap:AdditionalPaidInCapitalMember 2020-04-01 2020-06-30 0001687919 us-gaap:RetainedEarningsMember 2020-04-01 2020-06-30 0001687919 us-gaap:CommonStockMember 2020-06-30 0001687919 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0001687919 us-gaap:RetainedEarningsMember 2020-06-30 0001687919 FGNV:MrLiangMember 2021-01-01 2021-06-30 0001687919 FGNV:MrLiangMember 2021-06-30 0001687919 FGNV:MrLiangMember 2021-01-04 0001687919 FGNV:MrLiangMember 2021-01-03 2021-01-04 0001687919 FGNV:CarLoanMember 2021-06-30 0001687919 FGNV:SpeedlightConsultingServicesIncMember 2021-01-01 2021-06-30 0001687919 srt:DirectorMember 2021-01-01 2021-06-30 0001687919 srt:DirectorMember 2020-01-01 2020-06-30 0001687919 FGNV:MrHengjiangPangMember 2021-06-30 0001687919 FGNV:MrHengjiangPangMember 2020-12-31 0001687919 FGNV:MrLiangMember 2020-12-31 0001687919 FGNV:LandTransactionAgreementMember FGNV:StevenZhiQinMember 2017-03-16 2017-03-17 0001687919 FGNV:LandTransactionAgreementMember FGNV:StevenZhiQinMember 2017-03-17 0001687919 2018-02-25 2018-03-06 0001687919 FGNV:LandTransactionAgreementMember FGNV:StevenZhiQinMember 2019-03-01 2019-03-12 0001687919 FGNV:LandTransactionAgreementMember FGNV:StevenZhiQinMember 2019-06-02 2019-06-26 0001687919 FGNV:LandTransactionAgreementMember FGNV:StevenZhiQinMember 2019-06-26 0001687919 FGNV:LandTransactionAgreementMember FGNV:StevenZhiQinMember 2019-09-29 2019-09-30 0001687919 FGNV:LandTransactionAgreementMember FGNV:StevenZhiQinMember 2019-09-30 0001687919 FGNV:LandTransactionAgreementMember FGNV:StevenZhiQinMember 2020-03-11 2020-03-12 0001687919 2020-01-01 2020-12-31 0001687919 FGNV:PayCheckProtectionProgramLoanMember 2020-04-16 0001687919 FGNV:PayCheckProtectionProgramLoanMember 2020-04-15 2020-04-16 0001687919 FGNV:PayCheckProtectionProgramLoanMember 2021-01-01 2021-06-30 0001687919 FGNV:SmallBusinessAdministrationLoanMember 2020-07-14 0001687919 FGNV:SmallBusinessAdministrationLoanMember 2020-07-13 2020-07-14 0001687919 FGNV:SmallBusinessAdministrationLoanMember 2020-07-19 2020-07-20 0001687919 FGNV:PuenteHillsBusinessCenterTwoLPMember 2017-12-07 2017-12-08 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the Quarterly Period Ended June 30, 2021

 

OR

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ______________ to ______________

 

Commission File No. 333-218248

 

FORGE INNOVATION DEVELOPMENT CORP.

(Exact name of small business issuer as specified in its charter)

 

nevada   6552   81-4635390

(State or other jurisdiction of

incorporation or organization)

 

(Primary Standard Industrial

Classification Code Number)

 

(I.R.S. Employer

Identification No.)

 

6280 Mission Blvd Unit 205

Jurupa Valley, CA 92509

(Address of principal executive offices)

 

(626) 986-4566

(Registrant’s telephone number, including area code)

 

 

(Former name, former address and former fiscal year, if changed since last report)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer ☐ Accelerated filer ☐
Non-accelerated filer Smaller reporting company
  Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Securities registered pursuant to Section 12(b) of the Act: None

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No

 

The number of shares of Common Stock, $0.0001 par value, of the registrant outstanding at August 12, 2021, was 45,621,868.

 

 

 

 

 

 

FORGE INNOVATION DEVELOPMENT CORP.

 

QUARTERLY REPORT ON FORM 10-Q FOR THE PERIOD ENDED JUNE 30, 2021

 

TABLE OF CONTENTS

 

  PAGE
   
Part I. FINANCIAL INFORMATION:  
   
Item 1. Condensed Financial Statements: 1
   
Balance Sheets, June 30, 2021 (unaudited) and December 31, 2020 2
   
Statements of Operations (unaudited), for the Three Months and Six Months ended June 30, 2021 and 2020 3
   
Statements of Cash Flows (unaudited), for the Six Months ended June 30, 2021 and 2020 4
   
Statements of changes in shareholders’ equity (unaudited) for the Three Months and Six Months ended June 30, 2021 and 2020 5
   
Notes to Financial Statements (unaudited) 6
   
Item 2. Management’s Discussion and Analysis and Plan of Operation 11
   
Item 3. Quantitative and Qualitative Disclosures About Market Risk 12
   
Item 4. Controls and Procedures 12
   
Part II. OTHER INFORMATION:  
   
Item 1. Legal Proceedings 13
   
Item 1A. Risk Factors 13
   
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 13
   
Item 3. Defaults Upon Senior Securities 13
   
Item 4. Mine Safety Disclosures

13 

   
Item 5. Other Information 13
   
Item 6. Exhibits 14
   
SIGNATURES 15
   
EXHIBIT INDEX 16

 

i

 

 

PART I

 

ITEM 1. FINANCIAL STATEMENTS

 

FRORGE INNOVATION DEVELOPMENT CORP.

 

INDEX TO CONDENSED FINANCIAL STATEMENTS

 

Balance Sheets, June 30, 2021 (Unaudited) and December 31, 2020 2
   
Statements of Operations (unaudited), for the Three Months and Six Months ended June 30, 2021 and 2020 3
   
Statements of Cash Flows (unaudited), for the Six Months ended June, 2021 and 2020 4
   
Statements of Changes in Shareholders’ Equity (unaudited) for the Three Months and Six Months ended June 30, 2021 and 2020 5
   
Notes to Condensed Financial Statements (unaudited) 6

 

1

 

 

FORGE INNOVATION DEVELOPMENT CORP.

 

CONDENSED BALANCE SHEETS

 

   June 30,   December 31, 
   2021   2020 
   (Unaudited)     
ASSETS          
CURRENT ASSETS          
Cash  $136,382   $236,586 
Account receivable   -    3,000 
Other receivable - related party   1,408    1,297 
Other current assets   21,359    11,500 
           
Total Current Assets   159,149    252,383 
           
NONCURRENT ASSETS          
Operating lease right-of-use assets   31,834    62,773 
Property and equipment, net   40,293    24,614 
Rent deposit   13,953    13,953 
Total Non-Current Assets   86,086    101,340 
TOTAL ASSETS  $245,235   $353,723 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
CURRENT LIABILITIES:          
Other current liabilities  $54,881   $27,660 
Other payable - related party   60,975    24,000 
SBA loan, current   187    116 
Operating lease liabilities   33,106    63,456 
           
Total Current Liabilities   149,149    134,632 
           
Payable to related party, noncurrent   12,824    - 
SBA Loan, noncurrent   13,744    13,884 
TOTAL LIABILITIES   175,717    148,516 
           
COMMITMENTS AND CONTINGENCIES          
           
STOCKHOLDERS’ EQUITY:          
Preferred stock ($.0001 par value, 50,000,000 shares authorized; no share issued and outstanding as of June 30, 2021 and December 31, 2020)   -    - 
Common stock ($.0001 par value, 200,000,000 shares authorized, 45,621,868 shares issued and outstanding as of June 30, 2021 and December 31, 2020)   4,562    4,562 
Additional Paid-in Capital   1,469,678    1,469,678 
Accumulated Deficit   (1,404,722)   (1,269,033)
Total Stockholders’ Equity   69,518    205,207 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY  $245,235   $353,723 

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

 

2

 

 

FORGE INNOVATION DEVELOPMENT CORP.

 

CONDENSED STATEMENTS OF OPERATIONS

 

(Unaudited)

 

             
   For the three months ended   For the six months ended 
  

June 30,

2021

  

June 30,

2020

  

June 30,

2021

  

June 30,

2020

 
                 
Revenue  $9,000   $9,000   $18,000   $18,000 
Cost of revenue                    
Gross Profit   9,000    9,000    18,000    18,000 
                     
Operating Expenses                    
Consulting Expenses   18,000    18,000    36,000    36,000 
Selling, General and Administrative Expenses   71,327    68,251    136,289    135,374 
                     
Total Operating Expenses   98,327    86,251    172,289    171,374 
                     
Government grants   -    -    19,400    - 
Income tax   (800)   -    (800)   - 
Net loss  $(81,127)  $(77,251)  $(135,689)  $(153,374)
                     
Net loss per common share, basic and diluted  $(0.00)  $(0.00)  $(0.00)  $(0.00)
                     
Weighted average number of common shares outstanding, basic and diluted   45,621,868    45,621,868    45,621,868    45,621,868 

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

 

3

 

 

FORGE INNOVATION DEVELOPMENT CORP.

 

CONDENSED STATEMENTS OF CASH FLOWS

 

(Unaudited)

 

       
   For the six months ended June 30,
   2021   2020 
CASH FLOWS FROM OPERATING ACTIVITIES           
Net loss   $(135,689)  $(153,374)
Adjustments to reconcile net loss to net cash used in operating activities:           
Amortization of ROU    30,939   17 
Depreciation expense    7,177    4,891 
Forgiveness of PPP loan    (19,400)   - 
Change in operating assets and liabilities:           
Other current assets    (12,990)   - 
Accounts receivable   3,000    - 
Other receivable-Related party   (111)   - 
Other current liabilities    -   12,957 
Other payable - related party    26,938    - 
Net cash used in operating activities    (100,135)   (135,509)
           
CASH FLOWS FROM INVESTING ACTIVITIES           
Note receivable    -    110,000 
Net cash provided by investing activities    -   110,000 
           
CASH FLOWS FROM FINANCING ACTIVITIES           
Repayment of SBA loan   (69)   - 
PPP loan    -    19,400 
Net cash (used in) provided by financing activities    (69)   19,400 
           
Net (decrease) in Cash    (100,204)   (6,109)
Cash at beginning of period:    236,586    366,270 
Cash at end of period:   $136,382   $360,161 
           
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFOR           
Interest paid   $-   $- 
Income taxes paid   $800   $- 
           
NONCASH TRANSACTION OF INVESTING ACTIVITIES           
Loan carried through purchase of vehicle   $22,861   $- 

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

 

4

 

 

FORGE INNOVATION DEVELOPMENT CORP.

 

STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

 

(Unaudited)

 

  

Number of

Shares

  

Common

Shares

  

Additional

Paid-in

Capital

  

Accumulated

Deficit

  

Total

Shareholders’

Equity

 
Balance, January 1, 2021   45,621,868   $4,562   $1,469,678   $(1,269,033)  $205,207 
Net loss   -    -    -    (54,562)   (54,562)
                          
Balance, March 31, 2021   45,621,868   $4,562   $1,469,678   $(1,323,595)  $150,645 
Net loss   -    -    -    (81,127)   (81,127)
Balance, June 30, 2021   45,621,868   $4,562   $1,469,678   $(1,404,722)  $69,518 

 

  

Number of

Shares

  

Common

Shares

  

Additional

Paid-in

Capital

   Accumulated
Deficit
  

Total

Shareholders’

Equity

 
Balance, January 1, 2020   45,621,868   $4,562   $1,469,678   $(948,904)  $525,336 
Net loss   -    -    -    (76,123)   (76,123)
                          
Balance, March 31, 2020   45,621,868   $4,562   $1,469,678   $(1,025,027)  $449,213 
Net loss   -    -    -    (77,251)   (77,251)
Balance, June 30, 2020   45,621,868   $4,562   $1,469,678   $(1,102,278)   371,962 

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

 

5

 

 

Forge Innovation Development Corp.

 

Notes to the unaudited financial statements

 

Note 1 - Organization and Description of Business

 

Forge Innovation Development Corp. (individually “Forge” and collectively with its subsidiary, the “Company”), was initially incorporated in the State of Nevada on January 15, 2016 under the name of You-Go Enterprises, LLC (the “Company Predecessor”). On November 3, 2016, Forge filed an amendment to its Articles of Incorporation in the State of Nevada to change the Company Predecessor’s name to Forge Innovation Development Corp. Our current principle executive office is located at 6280 Mission Blvd Unit 205, Jurupa Valley, CA 92509. Tel: 626-986-4566. The Company’s main business focuses on real estate development, land purchasing and selling and property management. The Company’s common stock is currently traded on OTCQB under the symbol “FGNV”.

 

On August 17, 2020, the Company established a wholly owned subsidiary, Forge Network Inc, in the State of California. Forge Network Inc is engaged in online retail under the website: http://www.ez2go.us. The website has been formally launched in January 2021.

 

Note 2 - Summary of Significant Accounting Policies

 

The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal period, as reported in the Form 10-K, have been omitted.

 

Use of Estimates

 

The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the consolidated financial statements not misleading have been included. Actual results could differ from those estimates.

 

Revenue Recognition

 

The Company adopted ASU 2014-09 (ASC 606), Revenue from Contracts with Customers, using the modified retrospective approach on January 1, 2018. Under the standard, revenue is recognized upon transfer of control of promised goods and services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those goods and services.

 

Property management services: the Company deals directly with prospects and tenants for the owners of properties, which mainly includes marketing property, collecting rent, handling maintenance, repairing issues and responding to tenant complaints. The Company recognizes revenue as earned on a monthly basis under ASC 606.

 

6

 

 

Real estate sales: The Company accounts for the sale of real estate assets and any related gain recognition in accordance with the accounting guidance applicable to sales of real estate, which establishes standards for recognition of profit on all real estate sales transactions, other than retail land sales. The Company recognizes the sale, and associated gain or loss from the disposition, provided that the earnings process is complete, and the Company does not have significant continuing involvement.

 

Recently Issued Accounting Pronouncements Not Yet Adopted

 

In June 2016, the FASB issued ASU No. 2016-13, (FASB ASC Topic 326), Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which amends the current accounting guidance and requires the use of the new forward-looking “expected loss” model, which requires all expected losses to be determined based on historical experience, current conditions and reasonable and supportable forecasts, rather than the “incurred loss” model. This guidance amends the accounting for credit losses for most financial assets and certain other instruments including trade and other receivables, held-to-maturity debt securities, loans and other instruments. The effective date of ASU No. 2016-13 for smaller reporting companies is postponed to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company believes the adoption of ASU No. 2016-13 will not have a material impact on its financial position and results of operations.

 

The management does not believe that other than disclosed above, the recently issued but not yet adopted accounting pronouncements will have a material impact on its financial position results of operations or cash flows.

 

Note 3 - Going Concern

 

The accompanying consolidated financial statements were prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of obligations in the normal course of business. However, the Company has suffered recurring losses from operations since inception, resulting in an accumulated deficit of $ 1,404,722 as of June 30, 2021. These conditions raise substantial doubt about the ability of the Company to continue as a going concern.

 

In view of these matters, continuation as a going concern is dependent upon several factors, including the availability of debt or equity funding upon terms and conditions acceptable to the Company and ultimately achieving profitable operations. Management believes that the Company’s business plan provides it with an opportunity to continue as a going concern. However, management cannot provide assurance that the Company will meet its objectives and be able to continue in operation.

 

The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of Forge Innovation Development Corp. to continue as a going concern.

 

Note 4 - Income Taxes

 

The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not.

 

For the six months ended June 30, 2021 and 2020, the Company has incurred a net loss before tax of $135,689 and $153,374, respectively. Net operation losses (“NOLs”) will be expired in 2036. As of June 30, 2021 and December 31, 2020, deferred tax assets resulted from NOLs of approximately $391,371 and $346,932, which was fully off-set by valuation allowance reserved.

 

Note 5 - Concentration of Risk

 

The Company maintains cash in two accounts within two local commercial banks located in Southern California. The standard insurance amount is $250,000 per depositors under the FDIC’s general deposit insurance rules. On March 31, 2021 and December 31, 2020, there was no uninsured cash balances for the Company.

 

For the three months and six months ended June 30, 2021 and 2020, the Company’s revenue generated from one customer in the amount of $9,000 and $18,000, respectively. As of June 30, 2021 and December 31, 2020, the Company had $Nil and $3,000 accounts receivable from the customer, respectively.

 

7

 

 

Note 6 - Related Party Transactions

 

During the six months ended June 30, 2021 and 2020, Mr. Liang, the Company’s CEO, paid operating expenses on behalf of the Company in the amount of $1,038 and $Nil, respectively. As of June 30, 2021 and December 31, 2020, the Company had payable balance to Mr. Liang in the amount of $284 and $Nil, respectively.

 

On January 4, 2021, the Company purchased a vehicle from Patrick Liang, the President of the Company, for daily business operation, in the amount of $22,861, which equaled to the remaining vehicle loan balance with 7.11% interest rate annum for a period of 41 months and monthly installment of $558. As of June 30, 2021, the loan payments due within the next 12 months is $6,691. The title of the car is under the process of transferring as of June 30, 2021 and car loan balance was $19,515 as of June 30, 2021.

 

During the six months ended June 30, 2021 and 2020, the Company incurred a $6,000 monthly professional fee with Speedlight Consulting Services Inc., whose owner has been our director starting November 9, 2020, in the amount of $36,000 and $36,000, respectively. On June 30, 2021 and December 31, 2020, the Company had balance of due to Speedlight Consulting Services Inc. in the amount of $39,000 and $24,000, respectively.

 

On June 30, 2021 and December 31, 2020, Forge Network Inc. had balance of receivable due from Mr. Liang in the amount of $Nil and $1,297.

 

Note 7 - Notes Receivable

 

On March 17, 2017, the Company entered into a Land Transaction Agreement with Steven Zhi Qin, a third party individual. Pursuant to the agreement, the Company sold the undeveloped land located in Desert Hot Spring with value of $283,333, to Steven Zhi Qin in exchange for a Promissory Note in the amount of $310,000. The Promissory Note is secured by a Deed of Trust to Chicago Title Company, a California corporation and an independent institution insuring the Company’s collection right, and was due on March 17, 2018, with interest at the rate of 2% per annum, payable in monthly installment of interest only, in the amount of $517. The Promissory Note also applies to Steven Zhi Qin’s personal property located at 1715 East Cortez Street, West Covina, CA 91791 as additional collateral, of which a lien was recorded against said property. On March 6, 2018, the Company reached an agreement with Steven Zhi Qin, pursuant to which the Company agreed and approved the amendment of the Promissory Note to extend maturity date to March 17, 2019. On March 12, 2019, the Company reached another agreement with Steven Zhi Qin, pursuant to which the Company agreed and approved amendment of the Promissory Note to extend maturity date to June 30, 2019. On June 26, 2019, the Company reached the third amendment with Steven Zhi Qi, pursuant to which the Company agreed and approved amendment of the Promissory Note to extend maturity date to September 30, 2019, and the remaining $110,000 was due on September 30, 2019. On September 30, 2019, the Company reached the fourth amendment with Steven Zhi Qi, pursuant to which the Company agreed and approved amendment of the Promissory Note to extend maturity date to December 31, 2019, and the remaining $110,000 was due on December 31, 2019. On March 12, 2020, the Company received the repayment of the note in the amount of $110,000.

 

Note 8 - Lease

 

The Company has operating lease for its lease’s office space from a third party, Puente Hills Business Center II, L.P. (“PHBC-II”), which the Company vacated the premises on or about September 29, 2020. We determined if an arrangement is a lease inception of the contract and whether a contract is or contains a lease by determining whether it conveys the right to control the use of identified asset for a period of time. The contract provides us the right to obtain substantially all the economic benefits from the use of the identified asset and the right to direct use of the identified asset, we consider it to be, or contain, a lease.

 

Leases is classified as operating at inception of the lease. Operating leases result in the recognition of ROU assets and lease liabilities on the balance sheet. ROU assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term as of the commencement date. Because our leases do not provide an explicit or implicit rate of return, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments on an individual lease basis. Our incremental borrowing rate for a lease is the rate of interest we would have to pay on a collateralized basis to borrow an amount equal to the lease payments for the asset under similar term, which is 5.5%. Lease expense for these leases is recognized on a straight-line basis over the lease term.

 

Our leases do not contain any residual value guarantees or material restrictive covenants. Leases with a lease term of 12 months or less are not recorded on the balance sheet and lease expense is recognized on a straight-line basis over the lease term. The remaining term as of December 31, 2020 is 12 months. We currently have no finance leases.

 

8

 

 

During the six months ended June 30, 2021 and 2020, cash paid for amounts included in the measurement of lease liabilities- operating cash flows from operating lease were $Nil and $32,196, respectively. As of June 30, 2021 and December 31, 2020, $33,106 and $63,456 lease liability were outstanding under the lease agreement, respectively. On October 22, 2020, PHBC-II filed a lawsuit against the Company and its guarantor, Mr. Liang. No judgment has been rendered as of June 30, 2021, and the litigation is in its infancy stage. The Company has retained legal counsel to address the matter. As of June 30, 2021 and December 31, 2020, the lease payable under the lease agreement amounted $49,584 and $16,098, respectively.

 

The components of lease expense consist of the following:

 

      

Three Months Ended

June 30,

 
   Classification   2021   2020 
Operating lease cost   G&A expense   $16,107   $16,107 
                
Net lease cost       $16,107   $16,107 

 

      

Six Months Ended

June 30,

 
   Classification   2021   2020 
Operating lease cost   G&A expense   $32,214   $32,214 
                
Net lease cost       $32,214   $32,214 

 

Balance sheet information related to leases consists of the following:

 

   Classification  

June 30,

2021

  

December 31,

2020

 
Assets               
Operating lease ROU assets   Right-of-use assets   $31,834   $62,773 
                
Total leased assets       $31,834   $62,773 
Liabilities               
Current portion               
Operating lease liabilities   Current maturities of operating lease liabilities   $33,106   $63,456 
                
Non-current portion               
Operating lease liabilities   Long-term portion of operating lease liabilities    -    - 
                
Total lease liabilities       $33,106   $63,456 
                
Weighted average remaining lease term               
Operating leases        0.5    1.0 
                
Weighted average discount rate               
Operating leases        5.5%   5.5%

 

Cash flow information related to leases consists of the following:

 

   2021   2020 
  

Six Months Ended

June 30,

 
   2021   2020 
Cash paid for amounts included in the measurement of lease liabilities:          
Operating cash flows from operating leases  $-   $29,250 
Right-of-use assets obtained in exchange for lease obligations:          
Operating leases   30,938    29,267 

 

9

 

 

Future minimum lease payment under non-cancellable lease as of June 30, 2021 are as follows:

 

Ending December 31,  Operating Leases 
2021  $33,486 
Less: Interest   (380)
Present value of lease liabilities  $33,106 

 

Note 9 –Loans

 

On April 16, 2020, the Company received a Promissory Note (the “Note”) in the amount of $19,400 under the Paycheck Protection Program (the “PPP Loan”) through East West Bank (the “Lender”). The interest rate on this Note is a fixed rate of 1.00% per annum. The Company will pay this loan in one payment of all outstanding principal plus all accrued unpaid interest on that date that is two years after the date of this Note (“Maturity Date”). In addition, the Company will pay regular monthly payments in an amount equal to one month’s accrued interest commencing on that date that is seven months after the date of this Note, with all subsequent interest payments to be due on the same day of each month after that. All interest which accrues during the initial six months of the loan period will be deferred to and payable on the Maturity Date. Unless otherwise agreed or required by applicable law, payments will be applied first to any accrued unpaid interest; then to principal.

 

According to SBA’s PPP description, the PPP loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees. Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

 

The Company submit its application for the forgiveness of the full amount $19,400 PPP Loan and received the approval letter from SBA on March 10, 2021. The Company recognized government grant in the amount of $19,400 for the six months ended June 30, 2021.

 

On July 14, 2020, the Company entered into a loan agreement with The U.S. Small Business Administration (SBA), pursuant to which the Company obtain a loan in the amount of $14,000 with the term of 30 years and at the interest rate of 3.75%, payable monthly including principal and interest in the amount $69. The Company received the loan amount of $14,000 from SBA on July 20, 2020.

 

Note 10 – Contingencies

 

On December 8, 2017, the Company entered into a lease agreement with Puente Hills Business Center II, L.P. (“PHBC-II”) for a lease term of forty-eight months, and which was scheduled to expire on January 14, 2022, at monthly rent of $4,962, subject to increase. On or about September 29, 2020, the Company vacated the premises. On October 22, 2020, PHBC-II filed a lawsuit against the Company and its guarantor, Mr. Liang. No judgment has been rendered as of June 30, 2021, and the litigation is in its infancy stage. The Company has retained legal counsel to address the matter.

 

Note 11 - Subsequent Event

 

The Company has evaluated all other subsequent events through the date these consolidated financial statements were issued and determine that there were no other subsequent events or transactions that require recognition or disclosures in the consolidated financial statements.

 

10

 

 

Item 2. Management’s Discussion and Analysis or Plan of Operation

 

This 10−Q contains forward-looking statements. Our actual results could differ materially from those set forth as a result of general economic conditions and changes in the assumptions used in making such forward-looking statements. The following discussion and analysis of our financial condition and results of operations should be read together with the audited consolidated financial statements and accompanying notes and the other financial information appearing elsewhere in this report. The analysis set forth below is provided pursuant to applicable Securities and Exchange Commission regulations and is not intended to serve as a basis for projections of future events.

 

Overview

 

Forge Innovation Development Corp. is a development stage company and was incorporated in the State of Nevada in January 2016. The Company’s primary objective is commercial and residential land development, including the purchase and sale of real estate, targeting properties primarily in Southern California. We also intend to manage properties we own, and properties owned by unaffiliated third parties. Our activities will include securing acquisition rights to properties, obtaining zoning and other entitlements for the properties, securing financing for purchase of the properties, improving the properties’ infrastructure and amenities and selling the properties to homeowner and commercial owners for restaurants, offices and small businesses. Our first property acquisition was 29 acres in the city of Desert Hot Springs in Southern California. Due to problems with permits and adjacent landowners, rather than getting involved in protracted negotiations, the Company sold the property to an independent third party for a profit.

 

On August 17, 2020, the Company established a wholly owned subsidiary, Forge Network Inc, in the State of California. Forge Network Inc is engaged in online retail under the website: http://www.ez2go.us. The website has been formally launched in January 2021.

 

Results of Operation for the three months ended June 30, 2021 and 2020

 

During the three months ended June 30, 2021 and 2020, the Company generated $9,000 and $9,000 of revenues, respectively; the revenue was generated from property management service. The corresponding cost of revenue was $0. During the three months ended June 30, 2021 and 2020, the Company incurred general and administrative expenses of $90,127 and $86,251, respectively. The increase was mainly due to the increase in salary expense. For the three months ended June 30, 2021 and 2020, our net loss was $81,127 and $77,251, respectively. The increase in net loss was mainly due to the increase in general and administrative expense for the three months ended June 30, 2021, compared to the same period in last year.

 

Results of Operation for the six months ended June 30, 2021 and 2020

 

During the six months ended June 30, 2021 and 2020, the Company generated $18,000 and $18,000 of revenues, respectively; the revenue was generated from property management service. The corresponding cost of revenue was $0. During the six months ended June 30, 2021 and 2020, the Company incurred general and administrative expenses of $173,089 and $171,374, respectively. The increase in general and administrative expenses was mainly due to the increase in salary expense. For the six months ended June 30, 2021 and 2020, our net loss was $135,689 and $153,374, respectively. The increase in net loss was mainly due to the increase in general and administrative expenses, partially offset by the $19,400 PPP loan forgiven for the six months ended June 30, 2021, compared to the same period in last year.

 

Equity and Capital Resources

 

We have incurred losses since inception of our business in 2016 and, as of June 30, 2021, we had an accumulated deficit of $1,404,722. As of June 30, 2021, we had cash of $136,382 and a working capital of $10,001, compared to cash of $236,586 and a working capital of $117,751 on December 31, 2020. The decrease in the working capital was primarily due to cash used to pay for operating expenses.

 

11

 

 

Going Concern Assessment

 

The Company demonstrates adverse conditions that raise substantial doubt about the Company’s ability to continue as a going concern. These adverse conditions are negative financial trends, specifically cash outflow from operating activities, operating losses, accumulated deficit and other adverse key financial ratios.

 

Management’s plan to alleviate the substantial doubt about the Company’s ability to continue as a going concern include attempting to improve its business profitability, its ability to generate sufficient cash flow from its operations and execute the business plan of the Company in order to meet its operating needs on a timely basis. However, there can be no assurance that these plans and arrangements will be sufficient to fund the Company’s ongoing capital expenditures and other requirements.

 

The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern.

 

Off-Balance Sheet Arrangements

 

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

 

Critical Accounting Policies

 

The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these consolidated financial statements requires making estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. The estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis of making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

 

The critical accounting policies are discussed in further detail in the notes to the audited consolidated financial statements appearing elsewhere in this report. Management believes that the application of these policies on a consistent basis enables us to provide useful and reliable financial information about our operating results and financial condition.

 

Item 3. Quantitative and Qualitative Disclosures About Market Risk

 

As a “small reporting company” we are not required to provide this information under this item pursuant to Regulation S-K.

 

Item 4. Controls and Procedures.

 

Evaluation of Disclosure Controls and Procedures

 

As of the end of the period covered by this report on Form 10-Q, our President (principal executive officer) and our Chief Financial Officer performed an evaluation of the effectiveness of and the operation of our disclosure controls and procedures as defined in Rule 13a-15(e) or Rule 15d-15(e) under the Exchange Act. Based on that evaluation, our President and Chief Financial Officer each concluded that as of the end of the period covered by this report on Form 10-Q, our disclosure controls and procedures were not effective in timely alerting them to material information relating to Forge Innovation Development Corp. required to be included in our Exchange Act filings.

 

Changes in Internal Control over Financial Reporting

 

There were no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Rule 13a-15 or Rule 15d-15 under the Exchange Act that occurred during the quarter ended June 30, 2021 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 

12

 

 

PART II — OTHER INFORMATION

 

Item 1. Legal Proceedings.

 

On December 8, 2017, the Company entered into a lease agreement with Puente Hills Business Center II, L.P. (“PHBC-II”) for a lease term of forty-eight months, and which was scheduled to expire on January 14, 2022, at monthly rent of $4,962, subject to increase. On or about September 29, 2020, the Company vacated the premises. On October 22, 2020, PHBC-II filed a lawsuit against the Company and its guarantor, Mr. Liang. No judgment has been rendered as of August 12, 2021, and the litigation is in its infancy stage. The Company has retained legal counsel to address the matter.

 

Item 1A. Risk Factors.

 

As a “smaller reporting company”, we are not required to provide this information under this item pursuant to Regulation S-K.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

 

None

 

Item 3. Defaults Upon Senior Securities.

 

None

 

Item 4. Mine Safety Disclosures.

 

Not applicable.

 

Item 5. Other Information.

 

None

 

13

 

 

Item 6. Exhibits.

 

(a) Exhibits.

 

Exhibit   Item
     
31.1*   Certification of Chief Executive Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
     
31.2*   Certification of Chief Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
     
32*   Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
     
101.INS   XBRL Instance Document
101.SCH   XBRL Taxonomy Extension Schema Document
101.CAL   XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF   XBRL Taxonomy Extension Definition Linkbase Document
101.LAB   XBRL Taxonomy Extension Label Linkbase Document
101.PRE   XBRL Taxonomy Extension Presentation Linkbase Document

 

* Filed herewith.

 

14

 

 

SIGNATURES

 

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  FORGE INNOVATION DEVELOPMENT CORP.
   
Date: August 13, 2021 /s/ Patrick Liang
  Patrick Liang, President
  (Principal Executive Officer)
   
Date: August 13, 2021 /s/ Patrick Liang
  Patrick Liang, Chief Financial Officer
  (Principal Financial and Accounting Officer)

 

15

 

 

EXHIBIT INDEX

 

Exhibit   Item
     
31.1*   Certification of Chief Executive Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
     
31.2*   Certification of Chief Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
     
32*   Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
     
101.INS   XBRL Instance Document
101.SCH   XBRL Taxonomy Extension Schema Document
101.CAL   XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF   XBRL Taxonomy Extension Definition Linkbase Document
101.LAB   XBRL Taxonomy Extension Label Linkbase Document
101.PRE   XBRL Taxonomy Extension Presentation Linkbase Document

 

* Filed herewith.

 

16

 

EX-31.1 2 ex31-1.htm

 

EXHIBIT 31.1

 

CERTIFICATION

 

I, Patrick Liang, certify that:

 

1. I have reviewed this report on Form 10-Q of Forge Innovation Development Corp.;
   
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
   
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
   
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

 

  a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
     
  b. evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
     
  c. disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

 

  a. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
     
  b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

  /s/ Patrick Liang
  Patrick Liang
  President (Principal Executive Officer)
  August 13, 2021

 

 
EX-31.2 3 ex31-2.htm

 

EXHIBIT 31.2

 

CERTIFICATION

 

I, Patrick Liang, certify that:

 

1. I have reviewed this report on Form 10-Q of Forge Innovation Development Corp.;
   
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
   
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
   
4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

 

  a. designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
     
  b. evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
     
  c. disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

 

  a. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
     
  b. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

  /s/ Patrick Liang
  Patrick Liang
  Chief Financial Officer
  August 13, 2021

 

 

 

EX-32 4 ex32.htm

 

EXHIBIT 32

 

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the report of Forge Innovation Development Corp. (the “Company”) on Form 10-Q for the period ending June 30, 2021 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned, in the capacities and on the dates indicated below, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

 

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
   
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

  /s/ Patrick Liang
  Patrick Liang
  President (Principal Executive Officer)
  August 13, 2021
   
  /s/ Patrick Liang
  Patrick Liang
  Chief Financial Officer
  August 13, 2021

 

 

 

EX-101.SCH 5 fgnv-20210630.xsd XBRL SCHEMA FILE 00000001 - Document - Cover link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Condensed Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Condensed Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Condensed Statements of Operations link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Condensed Statements of Cash Flows link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - Statements of Changes in Shareholders' Equity (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - Organization and Description of Business link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Going Concern link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Income Taxes link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Concentration of Risk link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Notes Receivable link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Lease link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Loans link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Contingencies link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Subsequent Event link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Lease (Tables) link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Going Concern (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Income Taxes (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Concentration of Risk (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Related Party Transactions (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Notes Receivable (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Schedule of Lease Expense (Details) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Schedule of Balance Sheet Information Related to Leases (Details) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Schedule of Cash Flow Information Related to Leases (Details) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Schedule of Future Minimum Lease Payment Under Non-cancellable Lease (Details) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Lease (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Loans (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Contingencies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 6 fgnv-20210630_cal.xml XBRL CALCULATION FILE EX-101.DEF 7 fgnv-20210630_def.xml XBRL DEFINITION FILE EX-101.LAB 8 fgnv-20210630_lab.xml XBRL LABEL FILE Equity Components [Axis] Common Stock [Member] Additional Paid-in Capital [Member] Retained Earnings [Member] Related Party Transaction [Axis] Mr Liang [Member] Counterparty Name [Axis] Car Loan [Member] Speedlight Consulting Services Inc [Member] Director [Member] Mr Hengjiang Pang [Member] Long-Lived Tangible Asset [Axis] Schedule of cash flow information related to leases Steven Zhi Qin [Member] Debt Instrument [Axis] Pay Check Protection Program Loan [Member] DeferredTaxAssetsDepreciationExpense Series [Axis] Puente Hills Business Center Two L P [Member] Cover [Abstract] Document Type Amendment Flag Amendment Description Document Registration Statement Document Annual Report Document Quarterly Report Document Transition Report Document Shell Company Report Document Shell Company Event Date Document Period Start Date Document Period End Date Document Fiscal Period Focus Document Fiscal Year Focus Current Fiscal Year End Date Entity File Number Entity Registrant Name Entity Central Index Key Entity Primary SIC Number Entity Tax Identification Number Entity Incorporation, State or Country Code Entity Address, Address Line One Entity Address, Address Line Two Entity Address, Address Line Three Entity Address, City or Town Entity Address, State or Province Entity Address, Country Entity Address, Postal Zip Code Country Region City Area Code Local Phone Number Extension Written Communications Soliciting Material Pre-commencement Tender Offer Pre-commencement Issuer Tender Offer Title of 12(b) Security No Trading Symbol Flag Trading Symbol Security Exchange Name Title of 12(g) Security Security Reporting Obligation Annual Information Form Audited Annual Financial Statements Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Interactive Data Current Entity Filer Category Entity Small Business Entity Emerging Growth Company Elected Not To Use the Extended Transition Period Document Accounting Standard Other Reporting Standard Item Number Entity Shell Company Entity Public Float Entity Bankruptcy Proceedings, Reporting Current Entity Common Stock, Shares Outstanding Documents Incorporated by Reference [Text Block] Statement of Financial Position [Abstract] ASSETS CURRENT ASSETS Cash Account receivable Other receivable - related party Other current assets Total Current Assets NONCURRENT ASSETS Operating lease right-of-use assets Property and equipment, net Rent deposit Total Non-Current Assets TOTAL ASSETS LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Other current liabilities Other payable - related party SBA loan, current Operating lease liabilities Total Current Liabilities Payable to related party, noncurrent SBA Loan, noncurrent TOTAL LIABILITIES COMMITMENTS AND CONTINGENCIES STOCKHOLDERS’ EQUITY: Preferred stock ($.0001 par value, 50,000,000 shares authorized; no share issued and outstanding as of June 30, 2021 and December 31, 2020) Common stock ($.0001 par value, 200,000,000 shares authorized, 45,621,868 shares issued and outstanding as of June 30, 2021 and December 31, 2020) Additional Paid-in Capital Accumulated Deficit Total Stockholders’ Equity TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY Preferred stock, par value Preferred stock, shares authorized Preferred stock, shares issued Preferred stock, shares outstanding Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Income Statement [Abstract] Revenue Cost of revenue Gross Profit Operating Expenses Consulting Expenses Selling, General and Administrative Expenses Total Operating Expenses Government grants Income tax Net loss Net loss per common share, basic and diluted Weighted average number of common shares outstanding, basic and diluted Statement of Cash Flows [Abstract] CASH FLOWS FROM OPERATING ACTIVITIES Net loss Adjustments to reconcile net loss to net cash used in operating activities: Amortization of ROU Depreciation expense Forgiveness of PPP loan Change in operating assets and liabilities: Other current assets Accounts receivable Other receivable-Related party Other current liabilities Other payable - related party Net cash used in operating activities CASH FLOWS FROM INVESTING ACTIVITIES Note receivable Net cash provided by investing activities CASH FLOWS FROM FINANCING ACTIVITIES Repayment of SBA loan PPP loan Net cash (used in) provided by financing activities Net (decrease) in Cash Cash at beginning of period: Cash at end of period: SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFOR Interest paid Income taxes paid NONCASH TRANSACTION OF INVESTING ACTIVITIES Loan carried through purchase of vehicle Statement [Table] Statement [Line Items] Beginning balance, value Beginning balance, shares Ending balance, value Ending balance, shares Organization, Consolidation and Presentation of Financial Statements [Abstract] Organization and Description of Business Accounting Policies [Abstract] Summary of Significant Accounting Policies Going Concern Income Tax Disclosure [Abstract] Income Taxes Risks and Uncertainties [Abstract] Concentration of Risk Related Party Transactions [Abstract] Related Party Transactions Receivables [Abstract] Notes Receivable Lease Lease Debt Disclosure [Abstract] Loans Commitments and Contingencies Disclosure [Abstract] Contingencies Subsequent Events [Abstract] Subsequent Event Use of Estimates Revenue Recognition Recently Issued Accounting Pronouncements Not Yet Adopted Schedule of Lease Expense Schedule of Balance Sheet Information Related to Leases Schedule of Cash Flow Information Related to Leases Schedule of Future Minimum Lease Payment Under Non-cancellable Lease Accumulated deficit Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest Operating Loss Carryforwards, Limitations on Use Deferred Tax Assets, Net of Valuation Allowance FDIC's standard insurance amount Uninsured cash balances Revenue from Contract with Customer, Excluding Assessed Tax Accounts Receivable, after Allowance for Credit Loss, Current Schedule of Related Party Transactions, by Related Party [Table] Related Party Transaction [Line Items] Operating expense Due to related party Debt Instrument, Interest Rate, Stated Percentage Debt Instrument, Frequency of Periodic Payment Debt Instrument, Periodic Payment Long-term Debt, Maturities, Repayments of Principal in Next Rolling Twelve Months Debt Instrument, Face Amount Professional fees Due from Related Parties, Current Schedule of Accounts, Notes, Loans and Financing Receivable [Table] Accounts, Notes, Loans and Financing Receivable [Line Items] Sold undeveloped land located in Desert Hot Spring Promissory note amount Promissory note interest rate Promissory note monthly installment of interest amount Promissory note maturity date Promissory note remaining amount Promissory note description Proceeds from promissory note Schedule Of Lease Expense Operating lease cost Net lease cost Schedule Of Balance Sheet Information Related To Leases Operating lease ROU assets Total leased assets Current portion Operating lease liabilities Non-current portion Operating lease liabilities Total lease liabilities Weighted average remaining lease term Operating leases Weighted average discount rate Operating leases Operating cash flows from operating leases Operating leases 2021 Less: Interest Present value of lease liabilities Lease interest rate Lease term, description Remaining operating lease term Measurement of lease liabilities- operating cash flows from operating lease [custom:OperatingLeaseLiabilityOutstanding-0] Lease payable Schedule of Short-term Debt [Table] Short-term Debt [Line Items] Debt fixed percentage Debt instrument description Loan amount forgiven Government grant Debt Instrument, Term Debt Instrument, Interest Rate During Period Proceeds from Loans Entity Listings [Line Items] Lease term Lease expire date Monthly rent Schedule of Balance Sheet Information Related To Leases [Table Text Block] Schedule of Cash Flow Information Related To Leases [Table Text Block] Mr. Liang [Member] Car Loan [Member] Mr.Hengjiang Pang [Member] Land Transaction Agreement [Member] Steven Zhi Qin [Member] Measurement of lease liabilities- operating cash flows from operating lease. Operating lease liability, outstanding The amount of total operating leased assets. PPP Loan [Member] Government grant. SBA Loan [Member] Puente Hills Business Center II, L.P [Member] Speedlight Consulting Services Inc [Member] Government grants. Assets, Current Assets, Noncurrent Assets Liabilities, Current Liabilities Stockholders' Equity Attributable to Parent Liabilities and Equity ForgivenessOfPaycheckProtectionProgramLoan Increase (Decrease) in Other Current Assets Increase (Decrease) in Due from Related Parties Increase (Decrease) in Other Current Liabilities Increase (Decrease) in Due to Related Parties Net Cash Provided by (Used in) Operating Activities Net Cash Provided by (Used in) Investing Activities Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations Shares, Outstanding Lessee, Operating Leases [Text Block] Lessee, Operating Lease, Liability, Undiscounted Excess Amount EX-101.PRE 9 fgnv-20210630_pre.xml XBRL PRESENTATION FILE XML 10 form10-q_htm.xml IDEA: XBRL DOCUMENT 0001687919 2021-01-01 2021-06-30 0001687919 2021-08-12 0001687919 2021-06-30 0001687919 2020-12-31 0001687919 2021-04-01 2021-06-30 0001687919 2020-04-01 2020-06-30 0001687919 2020-01-01 2020-06-30 0001687919 2019-12-31 0001687919 2020-06-30 0001687919 us-gaap:CommonStockMember 2020-12-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001687919 us-gaap:RetainedEarningsMember 2020-12-31 0001687919 us-gaap:CommonStockMember 2021-01-01 2021-03-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-03-31 0001687919 us-gaap:RetainedEarningsMember 2021-01-01 2021-03-31 0001687919 2021-01-01 2021-03-31 0001687919 us-gaap:CommonStockMember 2021-03-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2021-03-31 0001687919 us-gaap:RetainedEarningsMember 2021-03-31 0001687919 2021-03-31 0001687919 us-gaap:CommonStockMember 2021-04-01 2021-06-30 0001687919 us-gaap:AdditionalPaidInCapitalMember 2021-04-01 2021-06-30 0001687919 us-gaap:RetainedEarningsMember 2021-04-01 2021-06-30 0001687919 us-gaap:CommonStockMember 2021-06-30 0001687919 us-gaap:AdditionalPaidInCapitalMember 2021-06-30 0001687919 us-gaap:RetainedEarningsMember 2021-06-30 0001687919 us-gaap:CommonStockMember 2019-12-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001687919 us-gaap:RetainedEarningsMember 2019-12-31 0001687919 us-gaap:CommonStockMember 2020-01-01 2020-03-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0001687919 us-gaap:RetainedEarningsMember 2020-01-01 2020-03-31 0001687919 2020-01-01 2020-03-31 0001687919 us-gaap:CommonStockMember 2020-03-31 0001687919 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0001687919 us-gaap:RetainedEarningsMember 2020-03-31 0001687919 2020-03-31 0001687919 us-gaap:CommonStockMember 2020-04-01 2020-06-30 0001687919 us-gaap:AdditionalPaidInCapitalMember 2020-04-01 2020-06-30 0001687919 us-gaap:RetainedEarningsMember 2020-04-01 2020-06-30 0001687919 us-gaap:CommonStockMember 2020-06-30 0001687919 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0001687919 us-gaap:RetainedEarningsMember 2020-06-30 0001687919 FGNV:MrLiangMember 2021-01-01 2021-06-30 0001687919 FGNV:MrLiangMember 2021-06-30 0001687919 FGNV:MrLiangMember 2021-01-04 0001687919 FGNV:MrLiangMember 2021-01-03 2021-01-04 0001687919 FGNV:CarLoanMember 2021-06-30 0001687919 FGNV:SpeedlightConsultingServicesIncMember 2021-01-01 2021-06-30 0001687919 srt:DirectorMember 2021-01-01 2021-06-30 0001687919 srt:DirectorMember 2020-01-01 2020-06-30 0001687919 FGNV:MrHengjiangPangMember 2021-06-30 0001687919 FGNV:MrHengjiangPangMember 2020-12-31 0001687919 FGNV:MrLiangMember 2020-12-31 0001687919 FGNV:StevenZhiQinMember FGNV:LandTransactionAgreementMember 2017-03-16 2017-03-17 0001687919 FGNV:StevenZhiQinMember FGNV:LandTransactionAgreementMember 2017-03-17 0001687919 2018-02-25 2018-03-06 0001687919 FGNV:StevenZhiQinMember FGNV:LandTransactionAgreementMember 2019-03-01 2019-03-12 0001687919 FGNV:StevenZhiQinMember FGNV:LandTransactionAgreementMember 2019-06-02 2019-06-26 0001687919 FGNV:StevenZhiQinMember FGNV:LandTransactionAgreementMember 2019-06-26 0001687919 FGNV:StevenZhiQinMember FGNV:LandTransactionAgreementMember 2019-09-29 2019-09-30 0001687919 FGNV:StevenZhiQinMember FGNV:LandTransactionAgreementMember 2019-09-30 0001687919 FGNV:StevenZhiQinMember FGNV:LandTransactionAgreementMember 2020-03-11 2020-03-12 0001687919 2020-01-01 2020-12-31 0001687919 FGNV:PayCheckProtectionProgramLoanMember 2020-04-16 0001687919 FGNV:PayCheckProtectionProgramLoanMember 2020-04-15 2020-04-16 0001687919 FGNV:PayCheckProtectionProgramLoanMember 2021-01-01 2021-06-30 0001687919 FGNV:SmallBusinessAdministrationLoanMember 2020-07-14 0001687919 FGNV:SmallBusinessAdministrationLoanMember 2020-07-13 2020-07-14 0001687919 FGNV:SmallBusinessAdministrationLoanMember 2020-07-19 2020-07-20 0001687919 FGNV:PuenteHillsBusinessCenterTwoLPMember 2017-12-07 2017-12-08 iso4217:USD shares iso4217:USD shares pure 0001687919 false --12-31 Q2 10-Q true 2021-06-30 2021 false 333-218248 FORGE INNOVATION DEVELOPMENT CORP. NV 81-4635390 6280 Mission Blvd Unit 205 Jurupa Valley CA 92509 (626) 986-4566 Yes Yes Non-accelerated Filer true true false false 45621868 136382 236586 3000 1408 1297 21359 11500 159149 252383 31834 62773 40293 24614 13953 13953 86086 101340 245235 353723 54881 27660 60975 24000 187 116 33106 63456 149149 134632 12824 13744 13884 175717 148516 0.0001 0.0001 50000000 50000000 0 0 0 0 0.0001 0.0001 200000000 200000000 45621868 45621868 45621868 45621868 4562 4562 1469678 1469678 -1404722 -1269033 69518 205207 245235 353723 9000 9000 18000 18000 9000 9000 18000 18000 18000 18000 36000 36000 71327 68251 136289 135374 98327 86251 172289 171374 19400 -800 -800 -81127 -77251 -135689 -153374 -0.00 -0.00 -0.00 -0.00 45621868 45621868 45621868 45621868 -135689 -153374 30939 17 7177 4891 19400 12990 3000 111 12957 26938 -100135 -135509 110000 110000 -69 19400 -69 19400 -100204 -6109 236586 366270 136382 360161 800 22861 45621868 4562 1469678 -1269033 205207 -54562 -54562 45621868 4562 1469678 -1323595 150645 -81127 -81127 45621868 4562 1469678 -1404722 69518 45621868 4562 1469678 -948904 525336 -76123 -76123 45621868 4562 1469678 -1025027 449213 -77251 -77251 45621868 4562 1469678 -1102278 371962 <p id="xdx_800_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock_zKEmeuOh6quf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note 1 - <span id="xdx_82F_zcB6SWDwAtX5">Organization and Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Forge Innovation Development Corp. (individually “Forge” and collectively with its subsidiary, the “Company”), was initially incorporated in the State of Nevada on January 15, 2016 under the name of You-Go Enterprises, LLC (the “Company Predecessor”). On November 3, 2016, Forge filed an amendment to its Articles of Incorporation in the State of Nevada to change the Company Predecessor’s name to Forge Innovation Development Corp. Our current principle executive office is located at 6280 Mission Blvd Unit 205, Jurupa Valley, CA 92509. Tel: 626-986-4566. The Company’s main business focuses on real estate development, land purchasing and selling and property management. The Company’s common stock is currently traded on OTCQB under the symbol “FGNV”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On August 17, 2020, the Company established a wholly owned subsidiary, Forge Network Inc, in the State of California. Forge Network Inc is engaged in online retail under the website: <span style="text-decoration: underline">http://www.ez2go.us</span>. The website has been formally launched in January 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_808_eus-gaap--SignificantAccountingPoliciesTextBlock_zOmK9h2Ne7u5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note 2 - <span id="xdx_82A_z2SKB5d5WVWh">Summary of Significant Accounting Policies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; background-color: white">The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal period, as reported in the Form 10-K, have been omitted.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_847_eus-gaap--UseOfEstimates_zLvTIdY4oE8b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span style="text-decoration: underline">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the consolidated financial statements not misleading have been included. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_841_eus-gaap--RevenueRecognitionPolicyTextBlock_z6uRFsDCMUek" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span style="text-decoration: underline">Revenue Recognition</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company adopted ASU 2014-09 (ASC 606), Revenue from Contracts with Customers, using the modified retrospective approach on January 1, 2018. Under the standard, revenue is recognized upon transfer of control of promised goods and services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those goods and services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Property management services: the Company deals directly with prospects and tenants for the owners of properties, which mainly includes marketing property, collecting rent, handling maintenance, repairing issues and responding to tenant complaints. The Company recognizes revenue as earned on a monthly basis under ASC 606.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Real estate sales: The Company accounts for the sale of real estate assets and any related gain recognition in accordance with the accounting guidance applicable to sales of real estate, which establishes standards for recognition of profit on all real estate sales transactions, other than retail land sales. The Company recognizes the sale, and associated gain or loss from the disposition, provided that the earnings process is complete, and the Company does not have significant continuing involvement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_843_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_ze6z2w6jhJQ1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span style="text-decoration: underline">Recently Issued Accounting Pronouncements Not Yet Adopted</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In June 2016, the FASB issued ASU No. 2016-13, (FASB ASC Topic 326), Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which amends the current accounting guidance and requires the use of the new forward-looking “expected loss” model, which requires all expected losses to be determined based on historical experience, current conditions and reasonable and supportable forecasts, rather than the “incurred loss” model. This guidance amends the accounting for credit losses for most financial assets and certain other instruments including trade and other receivables, held-to-maturity debt securities, loans and other instruments. The effective date of ASU No. 2016-13 for smaller reporting companies is postponed to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company believes the adoption of ASU No. 2016-13 will not have a material impact on its financial position and results of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The management does not believe that other than disclosed above, the recently issued but not yet adopted accounting pronouncements will have a material impact on its financial position results of operations or cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_847_eus-gaap--UseOfEstimates_zLvTIdY4oE8b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span style="text-decoration: underline">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the consolidated financial statements not misleading have been included. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_841_eus-gaap--RevenueRecognitionPolicyTextBlock_z6uRFsDCMUek" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span style="text-decoration: underline">Revenue Recognition</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company adopted ASU 2014-09 (ASC 606), Revenue from Contracts with Customers, using the modified retrospective approach on January 1, 2018. Under the standard, revenue is recognized upon transfer of control of promised goods and services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those goods and services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Property management services: the Company deals directly with prospects and tenants for the owners of properties, which mainly includes marketing property, collecting rent, handling maintenance, repairing issues and responding to tenant complaints. The Company recognizes revenue as earned on a monthly basis under ASC 606.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Real estate sales: The Company accounts for the sale of real estate assets and any related gain recognition in accordance with the accounting guidance applicable to sales of real estate, which establishes standards for recognition of profit on all real estate sales transactions, other than retail land sales. The Company recognizes the sale, and associated gain or loss from the disposition, provided that the earnings process is complete, and the Company does not have significant continuing involvement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_843_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_ze6z2w6jhJQ1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span style="text-decoration: underline">Recently Issued Accounting Pronouncements Not Yet Adopted</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In June 2016, the FASB issued ASU No. 2016-13, (FASB ASC Topic 326), Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which amends the current accounting guidance and requires the use of the new forward-looking “expected loss” model, which requires all expected losses to be determined based on historical experience, current conditions and reasonable and supportable forecasts, rather than the “incurred loss” model. This guidance amends the accounting for credit losses for most financial assets and certain other instruments including trade and other receivables, held-to-maturity debt securities, loans and other instruments. The effective date of ASU No. 2016-13 for smaller reporting companies is postponed to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company believes the adoption of ASU No. 2016-13 will not have a material impact on its financial position and results of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The management does not believe that other than disclosed above, the recently issued but not yet adopted accounting pronouncements will have a material impact on its financial position results of operations or cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_80C_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zzqRr5gNdRKi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note 3 - <span id="xdx_822_zCUbaFQeVan7">Going Concern</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The accompanying consolidated financial statements were prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of obligations in the normal course of business. However, the Company has suffered recurring losses from operations since inception, resulting in an accumulated deficit of $ <span id="xdx_901_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pp0p0_di_c20210630_zqEj0tKZBlBd" title="Accumulated deficit">1,404,722</span> as of June 30, 2021. These conditions raise substantial doubt about the ability of the Company to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In view of these matters, continuation as a going concern is dependent upon several factors, including the availability of debt or equity funding upon terms and conditions acceptable to the Company and ultimately achieving profitable operations. Management believes that the Company’s business plan provides it with an opportunity to continue as a going concern. However, management cannot provide assurance that the Company will meet its objectives and be able to continue in operation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of Forge Innovation Development Corp. to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.7pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> -1404722 <p id="xdx_80C_eus-gaap--IncomeTaxDisclosureTextBlock_zZoRz4q4d6W9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note 4 - <span id="xdx_82B_z4qm0U5lvFMh">Income Taxes</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">For the six months ended June 30, 2021 and 2020, the Company has incurred a net loss before tax of $<span id="xdx_902_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c20210101__20210630_pp0p0">135,689 </span></span><span style="font: 10pt Times New Roman, Times, Serif">and $<span id="xdx_90F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c20200101__20200630_pp0p0">153,374</span></span><span style="font: 10pt Times New Roman, Times, Serif">, respectively. Net operation losses (“NOLs”) will be expired in <span id="xdx_907_eus-gaap--OperatingLossCarryforwardsLimitationsOnUse_dd_c20210101__20210630_znsLpUu9h4G1">2036</span></span><span style="font: 10pt Times New Roman, Times, Serif">. As of June 30, 2021 and December 31, 2020, deferred tax assets resulted from NOLs of approximately $<span id="xdx_904_eus-gaap--DeferredTaxAssetsNet_c20210630_pp0p0">391,371 </span></span><span style="font: 10pt Times New Roman, Times, Serif">and $<span id="xdx_902_eus-gaap--DeferredTaxAssetsNet_iI_pp0p0_c20201231_zLzzMuz2sX0d">346,932</span></span><span style="font: 10pt Times New Roman, Times, Serif">, which was fully off-set by valuation allowance reserved.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 135689 153374 2036 391371 346932 <p id="xdx_804_eus-gaap--ConcentrationRiskDisclosureTextBlock_zQTxM2Tzn4g6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note 5 - <span id="xdx_82C_z1peAXPkRy3l">Concentration of Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company maintains cash in two accounts within two local commercial banks located in Southern California. The standard insurance amount is $<span id="xdx_90E_eus-gaap--FederalDepositInsuranceCorporationPremiumExpense_c20210101__20210630_pp0p0" title="FDIC's standard insurance amount">250,000</span> per depositors under the FDIC’s general deposit insurance rules. On March 31, 2021 and December 31, 2020, there was <span id="xdx_904_eus-gaap--CashUninsuredAmount_iI_pp0p0_do_c20210331_zcvamt1yx14d" title="Uninsured cash balances"><span id="xdx_902_eus-gaap--CashUninsuredAmount_iI_pp0p0_do_c20201231_zH8GJFFYhFl8" title="Uninsured cash balances">no</span></span> uninsured cash balances for the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; background-color: white">For the three months and six months ended June 30, 2021 and 2020, the Company’s revenue generated from one customer in the amount of $<span id="xdx_90A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20210401__20210630_zOFj3JQYJvwb"><span id="xdx_905_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20200401__20200630_zA421AuEboZ2">9,000</span> </span></span><span style="font: 10pt Times New Roman, Times, Serif; background-color: white">and $<span id="xdx_906_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20210101__20210630_zrbBZjPyCda1"><span id="xdx_90A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20200101__20200630_znoAJ9cZfITc">18,000</span></span></span><span style="font: 10pt Times New Roman, Times, Serif; background-color: white">, respectively. As of June 30, 2021 and December 31, 2020, the Company had $<span id="xdx_90E_eus-gaap--AccountsReceivableNetCurrent_iI_pp0p0_dxL_c20210630_z6bmyHkvImd1" title="::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0397">Nil </span></span></span><span style="font: 10pt Times New Roman, Times, Serif; background-color: white">and $<span id="xdx_90C_eus-gaap--AccountsReceivableNetCurrent_iI_pp0p0_c20201231_zqm5ZDP2dC6h">3,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; background-color: white">accounts receivable from the customer, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 250000 0 0 9000 9000 18000 18000 3000 <p id="xdx_80C_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_z5qbC9JQUkV9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note 6 - <span id="xdx_82E_zfmf42jwa0s3">Related Party Transactions</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; background-color: white">During the six months ended June 30, 2021 and 2020, Mr. Liang, the Company’s CEO, paid operating expenses on behalf of the Company in the amount of $<span id="xdx_90F_eus-gaap--OperatingExpenses_pp0p0_c20210101__20210630__us-gaap--RelatedPartyTransactionAxis__custom--MrLiangMember_zt8d2Xf2WpL6" title="Operating expense">1,038</span> and $Nil, respectively. As of June 30, 2021 and December 31, 2020, the Company had payable balance to Mr. Liang in the amount of $<span id="xdx_901_eus-gaap--DueToRelatedPartiesCurrent_iI_pp0p0_c20210630__us-gaap--RelatedPartyTransactionAxis__custom--MrLiangMember_z1XkYCwUvb5h" title="Due to related party">284</span> and $Nil, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On January 4, 2021, the Company purchased a vehicle from Patrick Liang, the President of the Company, for daily business operation, in the amount of $<span id="xdx_904_eus-gaap--DueToRelatedPartiesCurrent_iI_pp0p0_c20210104__us-gaap--RelatedPartyTransactionAxis__custom--MrLiangMember_zXUAq5KJM3n7">22,861</span></span><span style="font: 10pt Times New Roman, Times, Serif">, which equaled to the remaining vehicle loan balance with <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20210104__us-gaap--RelatedPartyTransactionAxis__custom--MrLiangMember_zqaJVihIbQVg">7.11</span></span><span style="font: 10pt Times New Roman, Times, Serif">% interest rate annum for a period of <span id="xdx_90F_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20210103__20210104__us-gaap--RelatedPartyTransactionAxis__custom--MrLiangMember_zCKIlXPZsdlb">41 months</span></span> <span style="font: 10pt Times New Roman, Times, Serif">and monthly installment of $<span id="xdx_90F_eus-gaap--DebtInstrumentPeriodicPayment_pp0p0_c20210103__20210104__us-gaap--RelatedPartyTransactionAxis__custom--MrLiangMember_zUYl5rzX8Ooa">558</span></span><span style="font: 10pt Times New Roman, Times, Serif">. As of June 30, 2021, the loan payments due within the next 12 months is $<span id="xdx_906_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths_iI_pp0p0_c20210630__us-gaap--RelatedPartyTransactionAxis__custom--MrLiangMember_zsN56O8RahPc">6,691</span></span><span style="font: 10pt Times New Roman, Times, Serif">. The title of the car is under the process of transferring as of June 30, 2021 and car loan balance was $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__srt--CounterpartyNameAxis__custom--CarLoanMember_zjjEQaJuBYW2">19,515 </span></span><span style="font: 10pt Times New Roman, Times, Serif">as of June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During the <span style="background-color: white">six months ended June 30, 2021 and 2020</span>, the Company incurred a $<span id="xdx_90C_eus-gaap--ProfessionalFees_pp0p0_c20210101__20210630__us-gaap--RelatedPartyTransactionAxis__custom--SpeedlightConsultingServicesIncMember_zZBznz4jFHig" title="Professional fee"><span id="xdx_901_eus-gaap--ProfessionalFees_pp0p0_c20210101__20210630__us-gaap--RelatedPartyTransactionAxis__custom--SpeedlightConsultingServicesIncMember_zaHDRCRHxb88" title="Professional fees">6,000</span></span> monthly professional fee with Speedlight Consulting Services Inc., whose owner has been our director starting November 9, 2020, in the amount of $<span id="xdx_90E_eus-gaap--ProfessionalFees_pp0p0_c20210101__20210630__us-gaap--RelatedPartyTransactionAxis__srt--DirectorMember_zEd413sTSXDl">36,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif">and $<span id="xdx_906_eus-gaap--ProfessionalFees_pp0p0_c20200101__20200630__us-gaap--RelatedPartyTransactionAxis__srt--DirectorMember_zCTmYLGB4BDa">36,000</span>, </span><span style="font: 10pt Times New Roman, Times, Serif">respectively. On June 30, 2021 and December 31, 2020, the Company had balance of due to Speedlight Consulting Services Inc. in the amount of $<span id="xdx_907_eus-gaap--DueToRelatedPartiesCurrent_iI_pp0p0_c20210630__us-gaap--RelatedPartyTransactionAxis__custom--MrHengjiangPangMember_zZAezX105Z98">39,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif">and $<span id="xdx_90A_eus-gaap--DueToRelatedPartiesCurrent_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionAxis__custom--MrHengjiangPangMember_zbCCy5xtqeDc">24,000</span></span><span style="font: 10pt Times New Roman, Times, Serif">, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On June 30, 2021 and December 31, 2020, Forge Network Inc. had balance of receivable due from Mr. Liang in the amount of $<span id="xdx_90B_eus-gaap--DueFromRelatedPartiesCurrent_iI_pp0p0_dxL_c20210630__us-gaap--RelatedPartyTransactionAxis__custom--MrLiangMember_z80sfA05YnNg" title="::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0419">Nil</span></span> and $<span id="xdx_905_eus-gaap--DueFromRelatedPartiesCurrent_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionAxis__custom--MrLiangMember_zi95UihNxBb1">1,297</span></span><span style="font: 10pt Times New Roman, Times, Serif">.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 1038 284 22861 0.0711 41 months 558 6691 19515 6000 6000 36000 36000 39000 24000 1297 <p id="xdx_800_eus-gaap--FinancingReceivablesTextBlock_zFndIMeTn807" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note 7 - <span id="xdx_82B_z83VJWxEEWql">Notes Receivable</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On March 17, 2017, the Company entered into a Land Transaction Agreement with Steven Zhi Qin, a third party individual. Pursuant to the agreement, the Company sold the undeveloped land located in Desert Hot Spring with value of $<span id="xdx_901_eus-gaap--NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1_c20170316__20170317__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LandTransactionAgreementMember__srt--CounterpartyNameAxis__custom--StevenZhiQinMember_pp0p0" title="Sold undeveloped land located in Desert Hot Spring">283,333</span>, to Steven Zhi Qin in exchange for a Promissory Note in the amount of $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_c20170317__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LandTransactionAgreementMember__srt--CounterpartyNameAxis__custom--StevenZhiQinMember_pp0p0" title="Promissory note amount">310,000</span>. The Promissory Note is secured by a Deed of Trust to Chicago Title Company, a California corporation and an independent institution insuring the Company’s collection right, and was due on <span>March 17, 2018</span>, with interest at the rate of <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20170317__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LandTransactionAgreementMember__srt--CounterpartyNameAxis__custom--StevenZhiQinMember_zUW5WTpgPQwg" title="Promissory note interest rate">2</span>% per annum, payable in monthly installment of interest only, in the amount of $<span id="xdx_90E_eus-gaap--DebtInstrumentPeriodicPaymentInterest_c20170316__20170317__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LandTransactionAgreementMember__srt--CounterpartyNameAxis__custom--StevenZhiQinMember_pp0p0" title="Promissory note monthly installment of interest amount">517</span>. The Promissory Note also applies to Steven Zhi Qin’s personal property located at 1715 East Cortez Street, West Covina, CA 91791 as additional collateral, of which a lien was recorded against said property. On March 6, 2018, the Company reached an agreement with Steven Zhi Qin, pursuant to which the Company agreed and approved the amendment of the Promissory Note to extend maturity date to <span id="xdx_90B_eus-gaap--DebtInstrumentMaturityDate_dd_c20180225__20180306_zxaSFSsd5V8e" title="Promissory note maturity date">March 17, 2019</span>. On March 12, 2019, the Company reached another agreement with Steven Zhi Qin, pursuant to which the Company agreed and approved amendment of the Promissory Note to extend maturity date to <span id="xdx_902_eus-gaap--DebtInstrumentMaturityDate_c20190301__20190312__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LandTransactionAgreementMember__srt--CounterpartyNameAxis__custom--StevenZhiQinMember_zb0E3WGcSYD4" title="Promissory note maturity date">June 30, 2019</span>. On June 26, 2019, the Company reached the third amendment with Steven Zhi Qi, pursuant to which the Company agreed and approved amendment of the Promissory Note to extend maturity date to <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_dd_c20190602__20190626__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LandTransactionAgreementMember__srt--CounterpartyNameAxis__custom--StevenZhiQinMember_z7648hAyFBkh" title="Promissory note maturity date">September 30, 2019</span>, and the remaining $<span id="xdx_90F_eus-gaap--DebtInstrumentCarryingAmount_c20190626__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LandTransactionAgreementMember__srt--CounterpartyNameAxis__custom--StevenZhiQinMember_pp0p0" title="Promissory note remaining amount">110,000</span> was due on September 30, 2019. On September 30, 2019, <span id="xdx_90E_eus-gaap--DebtInstrumentDescription_c20190929__20190930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LandTransactionAgreementMember__srt--CounterpartyNameAxis__custom--StevenZhiQinMember" title="Promissory note description">the Company reached the fourth amendment with Steven Zhi Qi, pursuant to which the Company agreed and approved amendment of the Promissory Note to extend maturity date to December 31, 2019,</span> and the remaining $<span id="xdx_909_eus-gaap--DebtInstrumentCarryingAmount_c20190930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LandTransactionAgreementMember__srt--CounterpartyNameAxis__custom--StevenZhiQinMember_pp0p0" title="Promissory note remaining amount">110,000</span> was due on <span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_c20190929__20190930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LandTransactionAgreementMember__srt--CounterpartyNameAxis__custom--StevenZhiQinMember_zmhyrI8BCdZ" title="Promissory note maturity date">December 31, 2019</span>. On March 12, 2020, the Company received the repayment of the note in the amount of $<span id="xdx_901_eus-gaap--ProceedsFromNotesPayable_c20200311__20200312__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LandTransactionAgreementMember__srt--CounterpartyNameAxis__custom--StevenZhiQinMember_pp0p0" title="Proceeds from promissory note">110,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 283333 310000 0.02 517 2019-03-17 2019-06-30 2019-09-30 110000 the Company reached the fourth amendment with Steven Zhi Qi, pursuant to which the Company agreed and approved amendment of the Promissory Note to extend maturity date to December 31, 2019, 110000 2019-12-31 110000 <p id="xdx_805_eus-gaap--LesseeOperatingLeasesTextBlock_zq8iDmYJqNL9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note 8 - <span><span id="xdx_822_zO4AzJHnanN6">Lease</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company has operating lease for its lease’s office space from a third party, <span style="background-color: white">Puente Hills Business Center II, L.P. (“PHBC-II”)</span>, which <span style="background-color: white">the Company vacated the premises on or about September 29, 2020</span>. We determined if an arrangement is a lease inception of the contract and whether a contract is or contains a lease by determining whether it conveys the right to control the use of identified asset for a period of time. The contract provides us the right to obtain substantially all the economic benefits from the use of the identified asset and the right to direct use of the identified asset, we consider it to be, or contain, a lease.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Leases is classified as operating at inception of the lease. Operating leases result in the recognition of ROU assets and lease liabilities on the balance sheet. ROU assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term as of the commencement date. Because our leases do not provide an explicit or implicit rate of return, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments on an individual lease basis. Our incremental borrowing rate for a lease is the rate of interest we would have to pay on a collateralized basis to borrow an amount equal to the lease payments for the asset under similar term, which is <span id="xdx_90A_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_uPure_c20210630_z9eWyFpJvOw7" title="Lease interest rate">5.5</span>%. Lease expense for these leases is recognized on a straight-line basis over the lease term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Our leases do not contain any residual value guarantees or material restrictive covenants. <span id="xdx_902_eus-gaap--LesseeOperatingLeaseDescription_c20210101__20210630" title="Lease term, description">Leases with a lease term of <span id="xdx_902_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtM_c20210630_zPxZjrkNEmYc" title="Remaining operating lease term">12</span> months or less are not recorded on the balance sheet and lease expense is recognized on a straight-line basis over the lease term.</span> The remaining term as of December 31, 2020 is 12 months. We currently have no finance leases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During the six months ended June 30, 2021 and 2020, cash paid for amounts included in the measurement of lease liabilities- operating cash flows from operating lease were $<span id="xdx_905_ecustom--MeasurementOfLeaseLiabilitiesOperatingCashFlowsFromOperatingLease_pp0p0_dxL_c20210101__20210630_zogKeyMltXuf" title="::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0455">Nil</span></span> and $<span id="xdx_90F_ecustom--MeasurementOfLeaseLiabilitiesOperatingCashFlowsFromOperatingLease_pp0p0_c20200101__20200630_zdfzWreSTlWe">32,196</span></span><span style="font: 10pt Times New Roman, Times, Serif">, respectively. As of June 30, 2021 and December 31, 2020, $<span id="xdx_905_ecustom--OperatingLeaseLiabilityOutstanding_iI_pp0p0_c20210630_zxAo933wRjti">33,106 </span></span><span style="font: 10pt Times New Roman, Times, Serif">and $<span id="xdx_905_ecustom--OperatingLeaseLiabilityOutstanding_iI_pp0p0_c20201231_zfzYD1SdT5Wf">63,456 </span></span><span style="font: 10pt Times New Roman, Times, Serif">lease liability were outstanding under the lease agreement, respectively. On October 22, 2020, PHBC-II filed a lawsuit against the Company and its guarantor, Mr. Liang. No judgment has been rendered as of June 30, 2021, and the litigation is in its infancy stage. The Company has retained legal counsel to address the matter. As of June 30, 2021 and December 31, 2020, the lease payable under the lease agreement amounted $<span id="xdx_908_eus-gaap--OperatingLeaseLeaseIncomeLeasePayments_c20210101__20210630_zv0ZOF7ycque" title="Lease payable">49,584</span> and $<span id="xdx_90F_eus-gaap--OperatingLeaseLeaseIncomeLeasePayments_c20200101__20201231_zlp6Uy5V4arf" title="Lease payable">16,098</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_89B_eus-gaap--LeaseCostTableTextBlock_z9B1Oid2JSKl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The components of lease expense consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B9_zy1esuYcnbW9" style="display: none">Schedule of Lease Expense</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Three Months Ended</p> <p style="margin-top: 0; margin-bottom: 0">June 30,</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Classification</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1.5pt">Operating lease cost</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt; width: 18%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">G&amp;A expense</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--OperatingLeaseCost_pp0p0_c20210401__20210630_zFYaLpjpVlSe" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease cost">16,107</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--OperatingLeaseCost_pp0p0_c20200401__20200630_z50SGEBCACT7" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease cost">16,107</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--LeaseCost_pp0p0_c20210401__20210630_z081xeRr8s9d" style="border-bottom: Black 2.5pt double; text-align: right" title="Net lease cost">16,107</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--LeaseCost_pp0p0_c20200401__20200630_zhkCF6IAnafg" style="border-bottom: Black 2.5pt double; text-align: right" title="Net lease cost">16,107</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Six Months Ended</p> <p style="margin-top: 0; margin-bottom: 0">June 30,</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Classification</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1.5pt">Operating lease cost</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt; width: 18%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">G&amp;A expense</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--OperatingLeaseCost_pp0p0_c20210101__20210630_z726ECoMVur5" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease cost">32,214</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--OperatingLeaseCost_pp0p0_c20200101__20200630_zTMbpbYUOSm2" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease cost">32,214</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--LeaseCost_pp0p0_c20210101__20210630_zp818mCluds" style="border-bottom: Black 2.5pt double; text-align: right" title="Net lease cost">32,214</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--LeaseCost_pp0p0_c20200101__20200630_znWXOpQVrqJi" style="border-bottom: Black 2.5pt double; text-align: right" title="Net lease cost">32,214</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_z3CNsQXRAIa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_89B_ecustom--ScheduleOfBalanceSheetInformationRelatedToLeasesTableTextBlock_zj0f2iaGXri" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Balance sheet information related to leases consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B6_zvQWgFhLIlel" style="display: none">Schedule of Balance Sheet Information Related to Leases</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Classification</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">June 30,</p> <p style="margin-top: 0; margin-bottom: 0">2021</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">December 31,</p> <p style="margin-top: 0; margin-bottom: 0">2020</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 38%; text-align: left; padding-bottom: 1.5pt">Operating lease ROU assets</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt; width: 26%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">Right-of-use assets</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_c20210630_zh1P2un3wbJ5" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease ROU assets">31,834</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_c20201231_z5hFmo2PwTOe" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease ROU assets">62,773</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total leased assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_ecustom--OperatingLeasedAssets_iI_pp0p0_c20210630_zelcE5Yx5tt9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total leased assets">31,834</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--OperatingLeasedAssets_iI_pp0p0_c20201231_ziUjLdojapl7" style="border-bottom: Black 2.5pt double; text-align: right" title="Total leased assets">62,773</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="vertical-align: bottom; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">Current maturities of operating lease liabilities</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_c20210630_zPHMNWyzzVZb" style="text-align: right" title="Current portion Operating lease liabilities">33,106</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_c20201231_zyQa4kb2LyYg" style="text-align: right" title="Current portion Operating lease liabilities">63,456</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Operating lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">Long-term portion of operating lease liabilities</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_c20210630_zaND5M05Gb5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Non-current portion Operating lease liabilities"><span style="-sec-ix-hidden: xdx2ixbrl0496">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_c20201231_zM5frt5Jjy0i" style="border-bottom: Black 1.5pt solid; text-align: right" title="Non-current portion Operating lease liabilities"><span style="-sec-ix-hidden: xdx2ixbrl0498">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--OperatingLeaseLiability_iI_pp0p0_c20210630_z7BSRKgciRZe" style="border-bottom: Black 2.5pt double; text-align: right" title="Total lease liabilities">33,106</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--OperatingLeaseLiability_iI_pp0p0_c20201231_z5ygBMgJAos1" style="border-bottom: Black 2.5pt double; text-align: right" title="Total lease liabilities">63,456</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average remaining lease term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20210630_zzmgWRwceME2" title="Weighted average remaining lease term Operating leases">0.5</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20201231_zSPZXXk9A4pf" title="Weighted average remaining lease term Operating leases">1.0</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20210630_zRG4UT5BAhvb" title="Weighted average discount rate Operating leases">5.5</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20201231_zQjtVVxob21j" title="Weighted average discount rate Operating leases">5.5</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A2_zKTZnf4PymRf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_899_ecustom--ScheduleOfCashFlowInformationRelatedToLeasesTableTextBlock_zdKYXdlEdx6b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Cash flow information related to leases consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BD_zvFDbqcDZOs4" style="display: none">Schedule of Cash Flow Information Related to Leases</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20210101__20210630_zSbJaXhPwsjl" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20200101__20200630_z2BEzrATTNN7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; background-color: white"><b>Six Months Ended</b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; background-color: white"><b>June 30,</b></span></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeasePayments_zJsRzBtYzRZd" style="vertical-align: bottom; background-color: White"> <td style="width: 68%; text-align: left">Operating cash flows from operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0514">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">29,250</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets obtained in exchange for lease obligations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_z8sXQgyjGJjb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,938</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,267</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AE_znM8fxntIiYb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_894_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_znorTIuS4ci7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Future minimum lease payment under non-cancellable lease as of June 30, 2021 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BC_zyyHxDOa7BF1" style="display: none">Schedule of Future Minimum Lease Payment Under Non-cancellable Lease</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid">Ending December 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_498_20210630_zqs0hd3f4Wfd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Operating Leases</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_zkV1z21CYI02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; width: 78%; text-align: left">2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">33,486</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zmBa2n0wTHpi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: Interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(380</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_iI_z34BjN40uiog" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Present value of lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">33,106</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zW76EpXhnL52" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 0.055 Leases with a lease term of 12 months or less are not recorded on the balance sheet and lease expense is recognized on a straight-line basis over the lease term. P12M 32196 33106 63456 49584 16098 <p id="xdx_89B_eus-gaap--LeaseCostTableTextBlock_z9B1Oid2JSKl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The components of lease expense consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B9_zy1esuYcnbW9" style="display: none">Schedule of Lease Expense</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Three Months Ended</p> <p style="margin-top: 0; margin-bottom: 0">June 30,</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Classification</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1.5pt">Operating lease cost</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt; width: 18%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">G&amp;A expense</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--OperatingLeaseCost_pp0p0_c20210401__20210630_zFYaLpjpVlSe" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease cost">16,107</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--OperatingLeaseCost_pp0p0_c20200401__20200630_z50SGEBCACT7" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease cost">16,107</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--LeaseCost_pp0p0_c20210401__20210630_z081xeRr8s9d" style="border-bottom: Black 2.5pt double; text-align: right" title="Net lease cost">16,107</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--LeaseCost_pp0p0_c20200401__20200630_zhkCF6IAnafg" style="border-bottom: Black 2.5pt double; text-align: right" title="Net lease cost">16,107</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Six Months Ended</p> <p style="margin-top: 0; margin-bottom: 0">June 30,</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Classification</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1.5pt">Operating lease cost</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt; width: 18%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">G&amp;A expense</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--OperatingLeaseCost_pp0p0_c20210101__20210630_z726ECoMVur5" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease cost">32,214</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--OperatingLeaseCost_pp0p0_c20200101__20200630_zTMbpbYUOSm2" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease cost">32,214</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Net lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--LeaseCost_pp0p0_c20210101__20210630_zp818mCluds" style="border-bottom: Black 2.5pt double; text-align: right" title="Net lease cost">32,214</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--LeaseCost_pp0p0_c20200101__20200630_znWXOpQVrqJi" style="border-bottom: Black 2.5pt double; text-align: right" title="Net lease cost">32,214</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 16107 16107 16107 16107 32214 32214 32214 32214 <p id="xdx_89B_ecustom--ScheduleOfBalanceSheetInformationRelatedToLeasesTableTextBlock_zj0f2iaGXri" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Balance sheet information related to leases consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B6_zvQWgFhLIlel" style="display: none">Schedule of Balance Sheet Information Related to Leases</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold">Classification</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">June 30,</p> <p style="margin-top: 0; margin-bottom: 0">2021</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">December 31,</p> <p style="margin-top: 0; margin-bottom: 0">2020</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 38%; text-align: left; padding-bottom: 1.5pt">Operating lease ROU assets</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; width: 1%; text-align: left"> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt; width: 26%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">Right-of-use assets</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_c20210630_zh1P2un3wbJ5" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease ROU assets">31,834</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_c20201231_z5hFmo2PwTOe" style="border-bottom: Black 1.5pt solid; width: 12%; text-align: right" title="Operating lease ROU assets">62,773</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total leased assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_ecustom--OperatingLeasedAssets_iI_pp0p0_c20210630_zelcE5Yx5tt9" style="border-bottom: Black 2.5pt double; text-align: right" title="Total leased assets">31,834</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--OperatingLeasedAssets_iI_pp0p0_c20201231_ziUjLdojapl7" style="border-bottom: Black 2.5pt double; text-align: right" title="Total leased assets">62,773</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="vertical-align: bottom; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">Current maturities of operating lease liabilities</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_c20210630_zPHMNWyzzVZb" style="text-align: right" title="Current portion Operating lease liabilities">33,106</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_c20201231_zyQa4kb2LyYg" style="text-align: right" title="Current portion Operating lease liabilities">63,456</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Operating lease liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; vertical-align: bottom; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">Long-term portion of operating lease liabilities</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_c20210630_zaND5M05Gb5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Non-current portion Operating lease liabilities"><span style="-sec-ix-hidden: xdx2ixbrl0496">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_c20201231_zM5frt5Jjy0i" style="border-bottom: Black 1.5pt solid; text-align: right" title="Non-current portion Operating lease liabilities"><span style="-sec-ix-hidden: xdx2ixbrl0498">-</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--OperatingLeaseLiability_iI_pp0p0_c20210630_z7BSRKgciRZe" style="border-bottom: Black 2.5pt double; text-align: right" title="Total lease liabilities">33,106</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--OperatingLeaseLiability_iI_pp0p0_c20201231_z5ygBMgJAos1" style="border-bottom: Black 2.5pt double; text-align: right" title="Total lease liabilities">63,456</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average remaining lease term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20210630_zzmgWRwceME2" title="Weighted average remaining lease term Operating leases">0.5</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20201231_zSPZXXk9A4pf" title="Weighted average remaining lease term Operating leases">1.0</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20210630_zRG4UT5BAhvb" title="Weighted average discount rate Operating leases">5.5</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20201231_zQjtVVxob21j" title="Weighted average discount rate Operating leases">5.5</span></td><td style="text-align: left">%</td></tr> </table> 31834 62773 31834 62773 33106 63456 33106 63456 P0Y6M P1Y 0.055 0.055 <p id="xdx_899_ecustom--ScheduleOfCashFlowInformationRelatedToLeasesTableTextBlock_zdKYXdlEdx6b" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Cash flow information related to leases consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BD_zvFDbqcDZOs4" style="display: none">Schedule of Cash Flow Information Related to Leases</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20210101__20210630_zSbJaXhPwsjl" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20200101__20200630_z2BEzrATTNN7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; background-color: white"><b>Six Months Ended</b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; background-color: white"><b>June 30,</b></span></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeasePayments_zJsRzBtYzRZd" style="vertical-align: bottom; background-color: White"> <td style="width: 68%; text-align: left">Operating cash flows from operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0514">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">29,250</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right-of-use assets obtained in exchange for lease obligations:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_z8sXQgyjGJjb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,938</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,267</td><td style="text-align: left"> </td></tr> </table> 29250 30938 29267 <p id="xdx_894_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_znorTIuS4ci7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Future minimum lease payment under non-cancellable lease as of June 30, 2021 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-botto