ACCRUED LIABILITIES AND OTHER PAYABLES

3 Months Ended

Mar. 31, 2024

Payables and Accruals [Abstract]

ACCRUED LIABILITIES AND OTHER PAYABLES

NOTE– 7 ACCRUED LIABILITIES AND OTHER PAYABLES

Accrued liabilities and other payables consisted of the following:

	March 31, 2024		December 31, 2023
Accrued penalty	$	21,000	$	32,850
Accrued salaries		5,085		2,354
Accrued consulting fee		135,000		120,000
Other payables		56,692		42,611
Total accrued liabilities and other payable	$	217,777	$	197,815

On August 22, 2023, the Company was charged by the Securities and Exchange Commission with violating Rule 12b-25 by filing a Form 12b-25 “Notification of Late Filing” with respect to its Report on Form 10-Q for the quarter ended March 31, 2022, without including sufficient detail under the circumstances presented as to why the Form 10-Q could not be timely filed. More specifically, the SEC alleged that the delay was the result of an anticipated restatement of financial statements. Further, the Company failed to acknowledge in the Form 12b-25 anticipated significant changes in its results of operations for the first quarter of 2022 as compared to the first quarter of 2021 and to provide an explanation of the changes. Without admitting or denying the findings of the SEC, the Company agreed to a cease-and-desist order that found that the Company filed one deficient Form NT and one untimely Form 8-K. In addition, the Company agreed to pay a fine of $60,000.

The Company recorded the $60,000 fine as of March 31, 2024, and during the three months ended March 31, 2024 and 2023, the Company made a payment of $11,850 and $0 to an escrow account, which fund was subsequently released to the SEC.

Accrued liabilities and other payables are the expenses that will be settled in next twelve months.