XML 17 R2.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current Assets    
Cash $ 325,240 $ 562,503
Trade receivable 4,000
Deposits and prepayments 123,621
Other receivables 35,458 23,656
Total current assets 488,319 586,159
Non-current assets:    
Property, plant and equipment, net 251,862 265,540
Total Assets 740,181 851,699
Current Liabilities    
Trade payable 21,159 12,448
Accrued liabilities and other payable 292,820 306,248
Deferred revenue 26,337 36,841
Amounts from related parties 596,712 617,180
Current portion of lease liability 5,072 5,022
Income tax payable 36,361 36,063
Total Current liabilities 978,461 1,013,802
Non-current liabilities:    
Lease liability 8,222 9,758
Total Liabilities 986,683 1,023,560
Commitments and contingencies
Stockholder's Equity    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; 832,000 and 832,000 shares issued and outstanding as of March 31, 2020 and December 31, 2019 832 832
Common stock, $0.001 par value; 70,000,000 shares authorized; 32,363,200 and 32,363,200 shares issued and outstanding as of March 31, 2020 and December 31, 2019 32,363 32,363
Additional Paid-In Capital 24,946 24,946
Accumulated other comprehensive income (loss) 3,370 (1,319)
Accumulated deficits (417,653) (344,788)
Total Vivic Corp. shareholders' deficit (356,142) (287,966)
Non-controlling interest 109,640 116,105
Total deficit (246,502) (171,861)
Total Liabilities and stockholder's equity $ 740,181 $ 851,699