DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

SCHEDULE OF DISCONTINUED OPERATIONS

	As of June 30 , 2023
ASSETS
Current assets
Cash and cash equivalents	$	57,256
Deposit and prepayments		267,832
Inventory		1,553,453
Other receivables		88,695
Due from related parties		33,268
Total current assets		2,000,504
Non-current assets
Property and equipment, net		355,885
Construction in progress		74,349
Operating lease right-of-use assets		287,646
Total non-current assets		717,880
Total assets	$	2,718,384
LIABILITIES
Current liabilities
Accounts payable	$	433,325
Other payables and accrued liabilities		239,776
Deferred revenue		1,086,306
Due to related parties		289,849
Income tax payable		5,183
Operating lease liabilities-current		123,158
Total current liabilities		2,177,597
Operating lease liabilities-noncurrent		131,917
Total non-current liabilities		131,917
Total liabilities	$	2,309,514

The operations of Weiguan Ship and its subsidiaries are accounted for as discontinued operations in the accompanying consolidated financial statements for all periods presented. The following table presents the components of discontinued operations reported in the consolidated statements of operations:

		For the three months, ended June 30,					For the six months, ended June 30,
		2023			2022			2023			20222
Revenue, Net	$	912,668		$	10,810		$	957,667		$	11,868
Cost of Sales		583,867			8,940			650,586			9,890
Gross Profit		328,801			1,870			307,081			1,978
Operating Expenses
Selling Expenses		61,184			-			112,054			-
G&A Expenses		147,367			304,002			335,556			507,774
Loss from Operations		120,250			(302,132	)		(140,529	)		(505,796	)
Other Income (Expense)
Investment gain (loss)		-			(1,242	)		-			60,336
Interest expense		(4,619	)		7,893			(9,549	)		(67	)
Interest income		-			219			-			351
Other income (expenses)		(1,855	)		2,271			37,173			2,435
Total Other Income (Expenses)		(6,474	)		9,141			27,624			63,055
Income (Loss) Before Income Taxes		113,776			(292,991	)		(112,905	)		(442,741	)
Net Loss from discontinued operations	$	113,776		$	(292,991	)	$	(112,905	)	$	(442,741	)