Loans Payable to Financial Institutions

12 Months Ended

Dec. 31, 2022

Loans Payable to Financial Institutions [Abstract]

LOANS PAYABLE TO FINANCIAL INSTITUTIONS

4. LOANS PAYABLE TO FINANCIAL INSTITUTIONS

Loans payable to financial institutions consist of the following:

December 31,	2022			2021
July 2021 - Loan agreement with principal amount of $90,000 and repayment rate of 19% for a total of $101,700. The loan payable matures on January 31, 2023 and was fully paid off in 2022.		-			52,819
August 2021 - Loan agreement with principal amount of $72,500 and a repayment rate of 18.5% for a total of $81,925. The loan payable matures on February 10, 2023 and was fully paid off in 2022.		-			36,502
August 2021 - Loan agreement with principal amount of $67,500 and repayment rate of 18.5% for a total of $76,275. The loan payable matures on February 11, 2023 and was fully paid off in 2022.		-			32,382
August 2022 - Loan agreement with principal amount of $100,000 and repayment rate of 20.5% for a total of $124,430. The loan payable matures on February 2, 2024.		50,898			-
Less: current portion		(44,664	)		(98,475	)
Total loan payable, net of current	$	6,234		$	23,228

July 2021 - $ 101,700 loan payable

In July 2021, the Company entered into a loan agreement with Square Capital in the principal amount of $90,000 with loan cost $11,700. The loan payable has a maturity date on January 31, 2023. As of December 31, 2022 and December 31, 2021, there was a balance outstanding of $0 and $52,819, respectively.

August 2021 - $81,925 loan payable

In August 2021, the Company entered into a loan agreement with Square Capital in the principal amount of $72,500 with loan cost $9,425. The loan payable has a maturity date on February 10, 2023. As of December 31, 2022 and December 31, 2021, there was a balance outstanding of $0 and $36,502, respectively.

August 2021 - $76,275 loan payable

In August 2021, the Company entered into a loan agreement with Square Capital in the principal amount of $67,500 with loan cost $8,775. The loan payable has a maturity date on February 11, 2023. As of December 31, 2022 and December 31, 2021, there was a balance outstanding of $0 and $32,382, respectively.

August 2022 - $112,215 loan payable

In August 2022, the Company entered into a loan agreement with Square Capital in the principal amount of $100,000 with loan cost $12,215. The loan payable has a maturity date on February 2, 2024. As of December 31, 2022, there was a balance outstanding of $50,898.