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1. ORGANIZATION AND BUSINESS BACKGROUND Agape ATP Corporation, a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on June 1, 2016. Agape ATP Corporation operates through its wholly owned subsidiary, Agape ATP Corporation, a Company organized in Labuan, Malaysia. Agape ATP Corporation, incorporated in Labuan, Malaysia, is an investment holding company with 100% equity interest in Agape ATP International Holding Limited, a company incorporated in Hong Kong. On May 8, 2020, the Company entered into a Share Exchange Agreement with Mr. How Kok Choong, CEO and director of the Company to acquire <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20200507__20200508__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_z33kV8xa1aGh" title="Stock issued during period, shares, acquisitions">9,590,596 ordinary shares, <span id="xdx_90A_eus-gaap--CommonStockNoParValue_iI_pid_do_c20200508__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingSdnBhdMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_zKvj003UrcLe" title="Ordinary shares no par value">no par value, equivalent to approximately <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_c20200508__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyTwoMember_zmY6xGi0XaT1" title="Equity method investment, ownership percentage">99.99% of the equity interest in Agape Superior Living Sdn. Bhd., an entity incorporated in Malaysia. Agape Superior Living Sdn. Bhd. (“ASL”) is a limited company incorporated on August 8, 2003, under the laws of Malaysia. On September 11, 2020, the Company incorporated Wellness ATP International Holdings Sdn, Bhd. (“WATP”), a wholly owned subsidiary under the laws of Malaysia, to pursue the business of promoting wellness and wellbeing lifestyle of the community by providing services that includes online editorials, programs, events and campaigns on how to achieve positive wellness and lifestyle. Upon the establishment of WATP, WATP starts collaborating with ASL to carry out its wellness programs. The Company and its subsidiaries are principally engaged in the Health and Wellness Industry. The principal activity of the Company is to supply high-quality health and wellness products, including supplements to assist in cell metabolism, detoxification, blood circulation, anti-aging and products designed to improve the overall health system of the human body and various wellness programs. The accompanying unaudited condensed consolidated financial statements reflect the activities of the Company, Agape ATP Corporation (“AATP LB”), Agape ATP International Holding Limited (“AATP HK”), Wellness ATP International Holdings Sdn, Bhd. (“Wellness ATP”), Agape Superior Living Sdn. Bhd. (“ASL”) and its variable interest entity (“VIE”), Agape S.E.A. Sdn. Bhd. (“SEA”) (See Note 3). <p id="xdx_89E_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zWKsAFI7aGj2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Details of the Company’s subsidiaries and VIE: SCHEDULE OF SUBSIDIARIES AND ASSOCIATES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Subsidiary company name</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Place and date of incorporation</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Particulars of issued capital</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Principal activities</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Proportional of ownership interest and voting power held</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 10%">1. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td id="xdx_988_ecustom--NameOftheCompany_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyMember" style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 20%" title="Subsidiary company name">Agape ATP Corporation</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td id="xdx_98C_ecustom--PlaceAndDateOfIncorporation_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyMember" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: center" title="Place and date of incorporation">Labuan, March 6, 2017</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td id="xdx_986_ecustom--ParticularsOfIssuedCapital_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyMember" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center" title="Particulars of issued capital">100 shares of ordinary share of US$1 each</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td id="xdx_98A_ecustom--PrincipalActivities_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyMember" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center" title="Principal activities">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyMember_zfKCTwIbJyka" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Equity method investment, ownership percentage">100</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_989_ecustom--NameOftheCompany_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyOneMember" style="font: 10pt Times New Roman, Times, Serif; text-align: left" title="Subsidiary company name">Agape ATP International Holding Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98D_ecustom--PlaceAndDateOfIncorporation_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyOneMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place and date of incorporation">Hong Kong, June 1, 2017</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_983_ecustom--ParticularsOfIssuedCapital_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyOneMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Particulars of issued capital">1,000,000 shares of ordinary share of HK$1 each</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_980_ecustom--PrincipalActivities_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyOneMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Principal activities">Wholesaling of health and wellness products; and health solution advisory services</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyOneMember_z1ADf4MsF6Dd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity method investment, ownership percentage">100</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">3.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_983_ecustom--NameOftheCompany_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyTwoMember" style="font: 10pt Times New Roman, Times, Serif; text-align: left" title="Subsidiary company name">Agape Superior Living Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_987_ecustom--PlaceAndDateOfIncorporation_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyTwoMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place and date of incorporation">Malaysia, August 8, 2003</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98A_ecustom--ParticularsOfIssuedCapital_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyTwoMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Particulars of issued capital">9,590,598 shares of ordinary share of RM1 each</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_986_ecustom--PrincipalActivities_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyTwoMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Principal activities">Health and wellness products and health solution advisory services via network marketing</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyTwoMember_zbvgXnUPKRQ1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity method investment, ownership percentage">99.99</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">4.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_985_ecustom--NameOftheCompany_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyThreeMember" style="font: 10pt Times New Roman, Times, Serif; text-align: left" title="Subsidiary company name">Agape S.E.A. Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98B_ecustom--PlaceAndDateOfIncorporation_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyThreeMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place and date of incorporation">Malaysia, March 4, 2004</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98E_ecustom--ParticularsOfIssuedCapital_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyThreeMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Particulars of issued capital">2 shares of ordinary share of RM1 each</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_984_ecustom--PrincipalActivities_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyThreeMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Principal activities">VIE of Agape Superior Living Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">VIE</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">5.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98C_ecustom--NameOftheCompany_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyFourMember" style="font: 10pt Times New Roman, Times, Serif; text-align: left" title="Subsidiary company name">Wellness ATP International Holdings Sdn, Bhd</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_981_ecustom--PlaceAndDateOfIncorporation_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyFourMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place and date of incorporation">Malaysia, September 11, 2020</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98C_ecustom--ParticularsOfIssuedCapital_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyFourMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Particulars of issued capital">100 shares of ordinary share of RM1 each</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_982_ecustom--PrincipalActivities_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyFourMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Principal activities">The promotion of wellness and wellbeing lifestyle of the community by providing services that includes online editorials, programs, events and campaigns</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_988_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyFourMember_zURMwJLrTLDi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity method investment, ownership percentage">100</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table> AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 1. ORGANIZATION AND BUSINESS BACKGROUND (Continued) Business Overview Agape ATP Corporation is a company that provides health and wellness products and health solution advisory services to our clients. The Company primarily focus its efforts on attracting customers in Malaysia. Its advisory services center on the “ATP Zeta Health Program”, which is a health program designed to effectively prevent diseases caused by polluted environments, unhealthy dietary intake and unhealthy lifestyles, and promotion of health. The program aims to promote improved health and longevity in our clients through a combination of modern medicine, proper nutrition and advice from skilled nutritionists and/or dieticians. In order to strengthen the Company’s supply chain, on May 8, 2020, the Company has successfully acquired approximately <span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_c20200508__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_z48s2MAsINf8" title="Equity method investment, ownership percentage">99.99% of ASL, with the goal of securing an established network marketing sales channel that has been established in Malaysia for the past 15 years. ASL has been offering the Company’s ATP Zeta Health Program as part of its product lineup. As such, the acquisition creates synergy in the Company’s operation by boosting the Company’s retail and marketing capabilities. The newly acquired subsidiary allows the Company to fulfill its mission of “helping people to create health and wealth” by providing a financially rewarding business opportunity to distributors and quality products to distributors and customers who seek a healthy lifestyle. The Company deems creating public awareness on wellness and wellbeing lifestyle as essential to enhance the provision of its health solution advisory services; and therefore, incorporated WATP. Upon its establishment, WATP started collaborating with ASL to carry out various wellness programs. The Company offers three series of programs which consist of different services and products: ATP Zeta Health Program, ÉNERGÉTIQUE and BEAUNIQUE. The ATP Zeta Health Program is a health program designed to promote health and general wellbeing designed to prevent health diseases caused by polluted environments, unhealthy dietary intake and unhealthy lifestyles. The program aims to promote improved health and longevity through a combination of modern health supplements, proper nutrition and advice from skilled dieticians as well as trained members and distributors. The ÉNERGÉTIQUE series aims to provide a total dermal solution for a healthy skin beginning from the cellular level. The series is comprised of the Energy Mask series, Hyaluronic Acid Serum and Mousse Facial Cleanser. The BEAUNIQUE product series focuses on the research of our diet’s impact on modifying gene expressions in order to address genetic variations and deliver a nutrigenomic solution for every individual.

9590596

0.9999

<p id="xdx_89E_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zWKsAFI7aGj2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Details of the Company’s subsidiaries and VIE: SCHEDULE OF SUBSIDIARIES AND ASSOCIATES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">Subsidiary company name</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Place and date of incorporation</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Particulars of issued capital</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Principal activities</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Proportional of ownership interest and voting power held</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 10%">1. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td id="xdx_988_ecustom--NameOftheCompany_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyMember" style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 20%" title="Subsidiary company name">Agape ATP Corporation</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td id="xdx_98C_ecustom--PlaceAndDateOfIncorporation_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyMember" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: center" title="Place and date of incorporation">Labuan, March 6, 2017</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td id="xdx_986_ecustom--ParticularsOfIssuedCapital_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyMember" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center" title="Particulars of issued capital">100 shares of ordinary share of US$1 each</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td id="xdx_98A_ecustom--PrincipalActivities_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyMember" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center" title="Principal activities">Investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%"> </td> <td id="xdx_987_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyMember_zfKCTwIbJyka" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Equity method investment, ownership percentage">100</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_989_ecustom--NameOftheCompany_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyOneMember" style="font: 10pt Times New Roman, Times, Serif; text-align: left" title="Subsidiary company name">Agape ATP International Holding Limited</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98D_ecustom--PlaceAndDateOfIncorporation_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyOneMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place and date of incorporation">Hong Kong, June 1, 2017</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_983_ecustom--ParticularsOfIssuedCapital_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyOneMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Particulars of issued capital">1,000,000 shares of ordinary share of HK$1 each</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_980_ecustom--PrincipalActivities_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyOneMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Principal activities">Wholesaling of health and wellness products; and health solution advisory services</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyOneMember_z1ADf4MsF6Dd" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity method investment, ownership percentage">100</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">3.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_983_ecustom--NameOftheCompany_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyTwoMember" style="font: 10pt Times New Roman, Times, Serif; text-align: left" title="Subsidiary company name">Agape Superior Living Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_987_ecustom--PlaceAndDateOfIncorporation_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyTwoMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place and date of incorporation">Malaysia, August 8, 2003</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98A_ecustom--ParticularsOfIssuedCapital_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyTwoMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Particulars of issued capital">9,590,598 shares of ordinary share of RM1 each</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_986_ecustom--PrincipalActivities_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyTwoMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Principal activities">Health and wellness products and health solution advisory services via network marketing</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyTwoMember_zbvgXnUPKRQ1" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity method investment, ownership percentage">99.99</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">4.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_985_ecustom--NameOftheCompany_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyThreeMember" style="font: 10pt Times New Roman, Times, Serif; text-align: left" title="Subsidiary company name">Agape S.E.A. Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98B_ecustom--PlaceAndDateOfIncorporation_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyThreeMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place and date of incorporation">Malaysia, March 4, 2004</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98E_ecustom--ParticularsOfIssuedCapital_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyThreeMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Particulars of issued capital">2 shares of ordinary share of RM1 each</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_984_ecustom--PrincipalActivities_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyThreeMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Principal activities">VIE of Agape Superior Living Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">VIE</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">5.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98C_ecustom--NameOftheCompany_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyFourMember" style="font: 10pt Times New Roman, Times, Serif; text-align: left" title="Subsidiary company name">Wellness ATP International Holdings Sdn, Bhd</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_981_ecustom--PlaceAndDateOfIncorporation_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyFourMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place and date of incorporation">Malaysia, September 11, 2020</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_98C_ecustom--ParticularsOfIssuedCapital_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyFourMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Particulars of issued capital">100 shares of ordinary share of RM1 each</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_982_ecustom--PrincipalActivities_c20210101__20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyFourMember" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Principal activities">The promotion of wellness and wellbeing lifestyle of the community by providing services that includes online editorials, programs, events and campaigns</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td id="xdx_988_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20210930__srt--ConsolidatedEntitiesAxis__custom--SubsidiaryCompanyFourMember_zURMwJLrTLDi" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Equity method investment, ownership percentage">100</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">%</td></tr> </table>

Agape ATP Corporation Labuan, March 6, 2017 100 shares of ordinary share of US$1 each Investment holding

Agape ATP International Holding Limited Hong Kong, June 1, 2017 1,000,000 shares of ordinary share of HK$1 each Wholesaling of health and wellness products; and health solution advisory services

Agape Superior Living Sdn. Bhd. Malaysia, August 8, 2003 9,590,598 shares of ordinary share of RM1 each Health and wellness products and health solution advisory services via network marketing

0.9999

Agape S.E.A. Sdn. Bhd. Malaysia, March 4, 2004 2 shares of ordinary share of RM1 each VIE of Agape Superior Living Sdn. Bhd. Wellness ATP International Holdings Sdn, Bhd Malaysia, September 11, 2020 100 shares of ordinary share of RM1 each The promotion of wellness and wellbeing lifestyle of the community by providing services that includes online editorials, programs, events and campaigns

0.9999

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), and include all normal and recurring adjustments that management of the Company considers necessary for a fair presentation of its financial position and operation results. Interim results are not necessarily indicative of results to be expected for any other interim period or for the full year. The information included in this Form 10-Q should be read in conjunction with information included in the Company’s annual report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on March 31, 2021. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Principles of consolidation The unaudited condensed consolidated financial statements include the financial statements of the Company, its subsidiaries and its VIE over which the Company exercises control and, where applicable, entities for which the Company has a controlling financial interest or is the primary beneficiary. All transactions and balances among the Company, its subsidiaries and its VIE have been eliminated upon consolidation. Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. A VIE is an entity that has either a total equity investment that is insufficient to permit the entity to finance its activities without additional subordinated financial support, or whose equity investors lack the characteristics of a controlling financial interest, such as through voting rights, right to receive the expected residual returns of the entity or obligation to absorb the expected losses of the entity. The variable interest holder, if any, that has a controlling financial interest in a VIE is deemed to be the primary beneficiary and must consolidate the VIE. Use of estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s unaudited condensed consolidated financial statements include allowance for doubtful accounts, allowance for inventories obsolescence, useful lives of property and equipment, useful lives of intangible assets, impairment of long-lived assets, allowance for deferred tax assets, operating right-of-use assets, operating lease liabilities and uncertain tax position and impairment of investment in non-marketable securities. Actual results could differ from these estimates. Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, time deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less. Accounts receivable Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, which are due on credit term. Accounts receivable also include money due from a third-party e-commerce platform acting as a collection agent for the Company on the sales through their platform. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary. As of September 30, 2021 and December 31, 2020, no allowance for doubtful accounts was provided. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Inventories Inventories consist of finished goods and are stated at the lower of cost or net realizable value using the first-in first-out method. Management reviews inventory on hand for estimated obsolescence or unmarketable items, as compared to future demand requirements and the shelf life of the various products. Based on the review, the Company records inventory write-downs, when necessary, when costs exceed expected net realizable value. For the three months ended September 30, 2021 and 2020, the Company did not recognize any inventory write-downs. For the nine months ended September 30, 2021 and 2020, the Company recognized inventory write-downs of $36,636 and $0, respectively. Prepaid taxes Prepaid taxes include (i) prepaid income taxes that will either be refundable or utilized to offset future income tax; and (ii) goods and service tax (“GST”) to be refundable. Prepayments and deposits, net Prepayments and deposits are mainly cash deposited or advanced to suppliers for future inventory purchases or service providers for future services. This amount is refundable and bears no interest. For any prepayments and deposits determined by management that such advances will not be in receipts of inventories, services, or refundable, the Company will recognize an allowance account to reserve such balances. Management reviews its prepayments and deposits on a regular basis to determine if the allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written-off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. The Company’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary. Allowance for doubtful accounts provided as of September 30, 2021 and December 31, 2020, was $121,322 and $0, respectively. Property and equipment, net Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets with no residual value. The estimated useful lives are as follows: SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 65%; border-collapse: collapse; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Useful Life</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 72%; text-align: justify">Computer and office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: center"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zSM6rZ4E7HA7" title="Estimated Useful Life of Property and Equipment">5-<span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_z8RdM1vvJvp3" title="Estimated Useful Life of Property and Equipment">7 years </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Furniture & fixtures</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zazsAUglOHq7" title="Estimated Useful Life of Property and Equipment">6-<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zOPPJ9TKlf7g" title="Estimated Useful Life of Property and Equipment">7 years</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Leasehold improvements</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Estimated Useful Lives of Property and Equipment"><span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentEstimatedUsefulLives_c20210101__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember" title="Estimated Useful Lives of Property and Equipment">Lease Term</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Vehicle</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_c20210101__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember" title="Estimated Useful Life of Property and Equipment">5 years</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> </table> The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the unaudited condensed consolidated statements of income and comprehensive income. Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals and betterments, which are expected to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Intangible assets, net Intangible assets, net, are stated at cost, less accumulated amortization. Amortization expense is recognized on the straight-line basis over the estimated useful lives of the assets as follows: SCHEDULE OF ESTIMATED USEFUL LIVES OF INTANGIBLE ASSETS, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 65%; border-collapse: collapse; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 72%">Classification</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: center">Useful Life</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Computer software</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_c20210101__20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--ComputerSoftwareIntangibleAssetMember" title="Estimated useful lives of intangible assets">5 years</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> </table> Impairment for long-lived assets Long-lived assets, including property and equipment, and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, the Company would reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. As of September 30, 2021 and December 31, 2020, no impairment of long-lived assets was recognized. Deferred offering costs Deferred offering costs represents costs associated with the Company’s current offering which will be netted against the proceeds from the Company’s current offering. Investment in marketable equity securities The Company follows the provisions of ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. Investments in marketable equity securities (non-current) are reported at fair value with changes in fair value recognized in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss in the caption of “unrealized holding gain loss on marketable securities” in each reporting period. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Investment in non-marketable equity securities The Company follows the provisions of ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. Due to the Company’s non-marketable equity securities (non-current) does not qualify for the practical expedient to estimate fair value in accordance with ASC 820-10-35-59, the Company has selected to record its investments in non-marketable equity securities (non-current) at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issue. At each reporting period, the Company will make a qualitative assessment considering impairment indicators to evaluate whether the investment is impaired. The qualitative assessment indicators include, but are not limited to: (1) A significant deterioration in the earnings performance, credit rating, asset quality, or business prospects of the investee; (ii) A significant adverse change in the regulatory, economic, or technological environment of the investee; (iii) A significant adverse change in the general market condition of either the geographical area or the industry in which the investee operates; (iv) A bona fide offer to purchase, an offer by the investee to sell, or a completed auction process for the same or similar investment for an amount less than the carrying amount of that investment; and (v) Factors that raise significant concerns about the investee’s ability to continue as a going concern, such as negative cash flows from operations, working capital deficiencies, or noncompliance with statutory capital requirements or debt covenants. If the qualitative assessment indicators indicated that the non-marketable equity securities (non-current) is deemed to be impaired, the Company would recognize the impairment loss equal to the difference between the fair value of the investment and its carrying amount. Customer deposits Customer deposits represent amounts advanced by customers on product orders and discounted value of unapplied coupons. Customer deposits are reduced when the related sale is recognized in accordance with the Company’s revenue recognition policy. Revenue recognition The Company adopted Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (ASC Topic 606) using the modified retrospective method for contracts that were not completed as of June 30, 2019. This did not result in an adjustment to retained earnings upon adoption of this new guidance as the Company’s revenue was recognized based on the amount of consideration expected to receive in exchange for satisfying the performance obligations. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) The core principle underlying the revenue recognition of this ASU allows the Company to recognize - revenue that represents the transfer of goods and services to customers in an amount that reflects the consideration to which the Company expects to be entitled in such exchange. This will require the Company to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time, based on when control of goods and services transfers to a customer. The Company’s revenue streams are recognized at a point in time for the Company’s sale of health and wellness products. The ASU requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The Company accounts for a contract with a customer when the contract is committed in writing, the rights of the parties, including payment terms, are identified, the contract has commercial substance and consideration is probable of substantially collection. Sales of Health and Wellness products - Performance obligations satisfied at a point in time The Company derives its revenues from sales contracts with its customers with revenues being recognized when control of the health and wellness products are transferred to its customer at the Company’s office or shipment of the goods. The revenue is recorded net of estimated discounts and return allowances. Products are given 60 days for returns or exchanges from the date of purchase. Historically, there were insignificant sales returns. The Company also sells coupons to its customers for cash at a discounted price of the value of the coupons. Customers can apply the value of the coupons for a reduction in the transaction price paid by the customer are recorded as a reduction of sales. The cash proceeds resulted from the sale of coupons are recognized as customer deposits until the coupons to be applied as a reduction of the health and wellness products transaction price upon such sales transactions occurred. The Company’s coupons have a validity period of six months. If the Company’s customers did not utilize the coupons after six months, the Company would recognize the forfeiture of the originated sales value of the coupons as net revenues. For the three months ended September 30, 2021 and 2020, the Company recognized $1,361 and $93,322 as forfeited coupon income, respectively. For the nine months ended September 30, 2021 and 2020, the Company recognized $12,587 and $93,322 as forfeited coupon income, respectively. As of September 30, 2021, the Company had contracts for the sales of health and wellness products amounting to $86,364 which it is expected to fulfill within 12 months. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Sales of Health and Wellness services - Performance obligations satisfied at a point in time The Company carries out its Wellness program, where the Company’s products are bundled with health screening test and a health camp program. The health screening test and the health camp programs are considered as separate performance obligations. The promises to deliver the health screening test report and the attendance at the health camp are separately identifiable, which are evidenced by the fact that the Company provides separate services of delivering the health screening test report and allowing admission of the customers to attend the health camp. The Company derives its revenues from sales contracts with its customers with revenues being recognized when the test reports are completed and delivered to its customers during the consultation section in person. The Company also separately derives its revenues from sales contracts with its customers with revenues being recognized when the health camp program was completed in the final day of the health camp. For the three months ended September 30, 2021 and 2020, revenues from health and wellness services were $1,308 and $0 respectively. For the nine months ended September 30, 2021 and 2020, revenues from health and wellness services were $7,054 and $0 respectively. Disaggregated information of revenues by products and services are as follows: SCHEDULE OF DIS-AGGREGATED INFORMATION OF REVENUES <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; background-color: White"> <td style="display: none; text-align: justify"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_495_20210701__20210930_zOySHtQ9WQCj" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_49F_20200701__20200930_zRQTfPrqrQpf" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_496_20210101__20210930_zPiek7r0Sen7" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_498_20200101__20200930_zVta5Ycofml" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; 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="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; 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="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; 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="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; 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="text-align: center; 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="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--SurvivorSelectMember_z7ByCKmJ3Tic" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify">Survivor Select</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">14,252</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">83,107</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">51,893</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: 11%; text-align: right">119,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--EnergizedMineralConcentrateMember_zUi4FaA8M3J5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Energized Mineral Concentrate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,232</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">81,097</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--IonizedCalMagMember_zy3WmwKFxEli" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Ionized Cal-Mag</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,506</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,804</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">850,716</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--OmegaBlendMember_zfEJBPBLz5A4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Omega Blend</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,582</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109,258</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">233,943</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271,801</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--BetaMaxxMember_zIxiztLHosN2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Beta Maxx</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,605</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">123,080</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,405</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">134,514</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--VegeFruitFiberMember_zdPHBx4JsF74" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Vege-Fruit Fiber</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--IronMember_zy0tVNsddgna" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Iron</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,619</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,334</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135,743</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--YoungFormulaMember_zMGomsX3fF81" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Young Formula</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">378,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,507</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">728,708</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--OrganicYouthCarCleansingBarMember_zpviiv9rAFc2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Organic Youth Care Cleansing Bar</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">12,395</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,200</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--MitogizeMember_zca2XlUkCp3j" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Mitogize</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">68,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,914</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,286</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,625</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--LipomaskMember_zX9DrEXekGCl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Lipomask</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,797</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,379</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,198</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,799</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--HyaluronicAcidSerumMember_zCvhMzI8tDM2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Hyaluronic Acid Serum</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">836</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,289</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,162</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">107,010</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--MousseFacialCleanserMember_zQ9f6hZNOUQe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Mousse Facial Cleanser</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,565</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,136</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,252</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,263</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--TrimPlusMember_zOfZcu7usJgl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Trim+</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">930</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124,931</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">348,428</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--HealthAndWellnessServicesMember_zR51smgYQM09" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Health and wellness services</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">1,308</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 style="border-bottom: Black 2.5pt double; 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 style="border-bottom: Black 2.5pt double; text-align: right">7,054</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 style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RevenuesForSaleOfProduct_pp0p0_zXGEZemG9YGf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total revenues</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">201,284</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,413,063</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">806,850</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,936,925</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Cost of revenue Cost of revenue includes freight-in, the purchase cost of manufactured goods for sale to customers, and inventory write-downs. Cost of revenue amounted to $36,663 and $186,891 for the three months ended September 30, 2021 and 2020, respectively. Cost of revenue amounted to $149,877 (including inventory write-downs of $36,636) and $658,445 for the nine months ended September 30, 2021 and 2020, respectively. Shipping and handling charges Shipping and handling charges amounted to $2,139 and $3,467 for the three months ended September 30, 2021 and 2020, respectively. Shipping and handling charges amounted to $7,411 and $6,022 for the nine months ended September 30, 2021 and 2020, respectively. Shipping and handling charges are expensed as incurred and included in selling expenses. Advertising costs Advertising costs amounted to $2,473 and $5,634 for the three months ended September 30, 2021 and 2020, respectively. Advertising costs amounted to $19,131 and $8,516 for the nine months ended September 30, 2021 and 2020, respectively. Advertising costs are expensed as incurred and included in selling expenses. Commission expenses Commission expenses are the Company’s most significant expenses. As with all companies in the network marketing industry, the Company’s sales channel is external to the Company. The Company’s “external sales force” is stratified into two levels based on priority recruitment. First, there are sales distributors. Second, all members recruited by a sales distributor, directly or indirectly, are referred to as “sales network members”. The Company pays commission to every sales distributor based on purchases made by its sales network members which includes the independent direct sales members. Top performing distributors with their own physical stores may also become stockists of the Company, whereby they enjoy benefits such as maintaining a certain amount of the Company’s inventory on their store premises. The stockists shall account to the Company for all products sales from their store premises as monitored through the Company’s centralized stock tracking system. The Company pays a separate commission to stockists based on revenue generated from the stockists’ physical stores. Commission expenses amounted to $76,817 and $ 300,957 for the three months ended September 30, 2021 and 2020, respectively. Commission expenses amounted to $258,030 and $683,455 for the nine months ended September 30, 2021 and 2020, respectively. Defined contribution plan The full-time employees of the Company are entitled to the government mandated defined contribution plan. The Company is required to accrue and pay for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant government regulations, and make cash contributions to the government mandated defined contribution plan. Total expenses for the plans were $21,674 and $25,442 for the three months ended September 30, 2021 and 2020, respectively. Total expenses for the plans were $74,708 and $49,152 for the nine months ended September 30, 2021 and 2020, respectively. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) The related contribution plans include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.3in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.3in; text-align: justify">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Social Security Organization (“SOSCO”) – 1.75% based on employee’s monthly salary capped of RM 4,000;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Employees Provident Fund (“EPF”) – 12% based on employee’s monthly salary;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Employment Insurance System (“EIS”) – 0.2% based on employee’s monthly salary capped of RM 4,000;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Human Resource Development Fund (“HRDF”) – 1% based on employee’s monthly salary</td></tr> </table> Income taxes The Company accounts for income taxes in accordance with U.S. GAAP for income taxes. The charge for taxation is based on the results for the fiscal year as adjusted for items, which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred taxes is accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. No penalties and interest incurred related to underpayment of income taxes for the three months ended September 30, 2021 and 2020. $395 and $0 in penalties and interest incurred related to underpayment of income taxes for the nine months ended September 30, 2021 and 2020, respectively. The Company conducts much of its business activities in Hong Kong and Malaysia and is subject to tax in each of their jurisdictions. As a result of its business activities, the Company will file separate tax returns that are subject to examination by the foreign tax authorities. Comprehensive income (loss) Comprehensive income (loss) consists of two components, net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) refers to revenue, expenses, gains and losses that under GAAP are recorded as an element of stockholders’ equity but are excluded from net income. Other comprehensive income (loss) consists of a foreign currency translation adjustment resulting from the Company not using the U.S. dollar as its functional currencies. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Non-controlling interest Non-controlling interest mainly consists of approximately 0.01% (3 ordinary shares out of 9,590,599 shares) of the equity interests of ASL held by three individuals. The non-controlling interests are presented in the unaudited condensed consolidated balance sheets, separately from equity attributable to the shareholders of the Company. Non-controlling interests in the results of the Company are presented on the face of the unaudited condensed consolidated statements of operations as an allocation of the total income or loss for the periods between non-controlling interest holders and the shareholders of the Company. As of September 30, 2021 and December 31, 2020, the non-controlling interest balance was $0 and therefore not presented in the accompanying unaudited condensed consolidated financial statements. Earnings (loss) per share The Company computes earnings (loss) per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of the potential ordinary shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. For the three and nine months ended September 30, 2021 and 2020, there were no dilutive shares. Foreign currencies translation and transaction Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the unaudited condensed consolidated statements of operations and comprehensive Income (Loss). The reporting currency of the Company is United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. The Company’s subsidiary in Labuan maintains its books and record in United States Dollars (“US$”) albeit its functional currency being the primary currency of the economic environment in which the entity operates, which is the Malaysian Ringgit (“MYR” or “RM”). The Company’s subsidiary in Hong Kong maintains its books and record in Hong Kong Dollars (“HK$”), similar to its functional currency. The Company’s subsidiary and VIE in Malaysia conducts its businesses and maintains its books and record in the local currency, Malaysian Ringgit (“MYR” or “RM”), as its functional currency. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statements of stockholders’ equity. Cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the unaudited condensed consolidated balance sheets. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Translation of foreign currencies into US$1 have been made at the following exchange rates for the respective periods: SCHEDULE OF FOREIGN CURRENCIES TRANSLATION EXCHANGE RATES <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Period-average MYR : US$1 exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20210930__us-gaap--VariableRateAxis__custom--PeriodEndMYRMember_zPLty03v3bs3" style="width: 14%; text-align: right" title="Foreign Currency Exchange Rate, Translation">4.19</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20201231__us-gaap--VariableRateAxis__custom--PeriodEndMYRMember_zhNfKgvfuNX8" style="width: 14%; text-align: right" title="Foreign Currency Exchange Rate, Translation">4.02</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Period-average HKD : US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20210930__us-gaap--VariableRateAxis__custom--PeriodEndHKDMember_zljtCNMi0j1e" style="text-align: right" title="Foreign Currency Exchange Rate, Translation">7.79</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20201231__us-gaap--VariableRateAxis__custom--PeriodEndHKDMember_zmaWGlKXKn3a" style="text-align: right" title="Foreign Currency Exchange Rate, Translation">7.75</td><td style="text-align: left"> </td></tr> </table> <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: justify">Period-average MYR : US$1 exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210701__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_z3P1EXhLfGtc" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.20</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200701__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_zJMvNRLxnKib" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.20</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210101__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_zKgYphmXJQLl" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.13</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200101__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_z32YTr9GAYTg" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.23</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Period-average HKD : US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210701__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_zg2wpOejCU93" style="text-align: right" title="Foreign currency exchange rate period average">7.78</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200701__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_zeCQ3Brx8SN1" style="text-align: right" title="Foreign currency exchange rate period average">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210101__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_z4JmnbD7Qb5l" style="text-align: right" title="Foreign currency exchange rate period average">7.77</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200101__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_zBclx1N5s1a2" style="text-align: right" title="Foreign currency exchange rate period average">7.76</td><td style="text-align: left"> </td></tr> </table> Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. Fair value of financial instruments The accounting standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.3in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.3in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.</td></tr> </table> Financial instruments included in current assets and current liabilities are reported in the unaudited condensed consolidated balance sheets at face value or cost, which approximate fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Leases Some of the Company’s leases include one or more options to renew, which is typically at the Company’s sole discretion. The Company regularly evaluates the renewal options, and, when it is reasonably certain of exercise, it will include the renewal period in its lease term. New lease modifications result in re-measurement of the right of use (“ROU”) assets and lease liabilities. Operating ROU assets and lease liabilities are recognized at the commencement date, based on the present value of lease payments over the lease term. Since the implicit rate for the Company’s leases is not readily determinable, the Company use its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term. Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as the Company does not have reasonable certainty at lease inception that these options will be exercised. The Company generally considers the economic life of its operating lease ROU assets to be comparable to the useful life of similar owned assets. The Company has elected the short-term lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Its leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. The Company reviews the impairment of its ROU assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of operating lease liabilities in any tested asset group and includes the associated operating lease payments in the undiscounted future pre-tax cash flows. Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of such any pronouncements may be expected to cause a material impact on its financial condition or the results of its operations, as follow: In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. Update 2016-13 also modified the accounting for available-for-sale debt securities, which must be individually assessed for credit losses when fair value is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments— Credit Losses—Available-for-Sale Debt Securities. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. In November 2019, the FASB issued ASU No. 2019-10, which to update the effective date of ASU No. 2016-13 for private companies, not-for-profit organizations and certain smaller reporting companies applying for credit losses, leases, and hedging standard. The new effective date for these preparers is for fiscal years beginning after December 15, 2022. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning January 1, 2023 as the Company is qualified as a smaller reporting company. The Company is currently evaluating the impact ASU 2019-05 may have on its unaudited condensed consolidated financial statements. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In January 2020, the FASB issued ASU 2020-01 to clarify the interaction of the accounting for equity securities under ASC 321 and investments accounted for under the equity method of accounting in ASC 323 and the accounting for certain forward contracts and purchased options accounted for under ASC 815. With respect to the interactions between ASC 321 and ASC 323, the amendments clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting when applying the measurement alternative in ASC 321, immediately before applying or upon discontinuing the equity method of accounting. With respect to forward contracts or purchased options to purchase securities, the amendments clarify that when applying the guidance in ASC 815-10-15-141(a), an entity should not consider whether upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in ASC 323 or the fair value option in accordance with ASC 825. The ASU is effective for interim and annual reporting periods beginning after December 15, 2020. Early adoption is permitted, including adoption in any interim period. The adoption of this standard on January 1, 2021 did not have a material impact on its unaudited condensed consolidated financial statements. In October 2020, the FASB issued ASU 2020-08, “Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs”. The amendments in this Update represent changes to clarify the Codification. The amendments make the Codification easier to understand and easier to apply by eliminating inconsistencies and providing clarifications. ASU 2020-08 is effective for the Company for annual and interim reporting periods beginning January 1, 2021. Early application is not permitted. All entities should apply the amendments in this Update on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities. These amendments do not change the effective dates for Update 2017-08. The adoption of this standard on January 1, 2021 did not have a material impact on its unaudited condensed consolidated financial statements. In October 2020, the FASB issued ASU 2020-10, “Codification Improvements”. The amendments in this Update represent changes to clarify the Codification or correct unintended application of guidance that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments in this Update affect a wide variety of Topics in the Codification and apply to all reporting entities within the scope of the affected accounting guidance. ASU 2020-10 is effective for annual periods beginning after December 15, 2020 for public business entities. Early application is permitted. The amendments in this Update should be applied retrospectively. The adoption of this standard on January 1, 2021 did not have a material impact on its unaudited condensed consolidated financial statements.

Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), and include all normal and recurring adjustments that management of the Company considers necessary for a fair presentation of its financial position and operation results. Interim results are not necessarily indicative of results to be expected for any other interim period or for the full year. The information included in this Form 10-Q should be read in conjunction with information included in the Company’s annual report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on March 31, 2021. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Principles of consolidation The unaudited condensed consolidated financial statements include the financial statements of the Company, its subsidiaries and its VIE over which the Company exercises control and, where applicable, entities for which the Company has a controlling financial interest or is the primary beneficiary. All transactions and balances among the Company, its subsidiaries and its VIE have been eliminated upon consolidation. Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. A VIE is an entity that has either a total equity investment that is insufficient to permit the entity to finance its activities without additional subordinated financial support, or whose equity investors lack the characteristics of a controlling financial interest, such as through voting rights, right to receive the expected residual returns of the entity or obligation to absorb the expected losses of the entity. The variable interest holder, if any, that has a controlling financial interest in a VIE is deemed to be the primary beneficiary and must consolidate the VIE.

Use of estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s unaudited condensed consolidated financial statements include allowance for doubtful accounts, allowance for inventories obsolescence, useful lives of property and equipment, useful lives of intangible assets, impairment of long-lived assets, allowance for deferred tax assets, operating right-of-use assets, operating lease liabilities and uncertain tax position and impairment of investment in non-marketable securities. Actual results could differ from these estimates.

Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, time deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less.

Accounts receivable Accounts receivable are recorded at the invoiced amount less an allowance for any uncollectible accounts and do not bear interest, which are due on credit term. Accounts receivable also include money due from a third-party e-commerce platform acting as a collection agent for the Company on the sales through their platform. Management reviews the adequacy of the allowance for doubtful accounts on an ongoing basis, using historical collection trends and aging of receivables. Management also periodically evaluates individual customer’s financial condition, credit history, and the current economic conditions to make adjustments in the allowance when it is considered necessary. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary. As of September 30, 2021 and December 31, 2020, no allowance for doubtful accounts was provided. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Inventories Inventories consist of finished goods and are stated at the lower of cost or net realizable value using the first-in first-out method. Management reviews inventory on hand for estimated obsolescence or unmarketable items, as compared to future demand requirements and the shelf life of the various products. Based on the review, the Company records inventory write-downs, when necessary, when costs exceed expected net realizable value. For the three months ended September 30, 2021 and 2020, the Company did not recognize any inventory write-downs. For the nine months ended September 30, 2021 and 2020, the Company recognized inventory write-downs of $36,636 and $0, respectively.

36636

Prepaid taxes Prepaid taxes include (i) prepaid income taxes that will either be refundable or utilized to offset future income tax; and (ii) goods and service tax (“GST”) to be refundable. Prepayments and deposits, net Prepayments and deposits are mainly cash deposited or advanced to suppliers for future inventory purchases or service providers for future services. This amount is refundable and bears no interest. For any prepayments and deposits determined by management that such advances will not be in receipts of inventories, services, or refundable, the Company will recognize an allowance account to reserve such balances. Management reviews its prepayments and deposits on a regular basis to determine if the allowance is adequate, and adjusts the allowance when necessary. Delinquent account balances are written-off against allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. The Company’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary. Allowance for doubtful accounts provided as of September 30, 2021 and December 31, 2020, was $121,322 and $0, respectively. 121322 0

Property and equipment, net Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets with no residual value. The estimated useful lives are as follows: SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 65%; border-collapse: collapse; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Useful Life</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 72%; text-align: justify">Computer and office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: center"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zSM6rZ4E7HA7" title="Estimated Useful Life of Property and Equipment">5-<span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_z8RdM1vvJvp3" title="Estimated Useful Life of Property and Equipment">7 years </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Furniture & fixtures</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zazsAUglOHq7" title="Estimated Useful Life of Property and Equipment">6-<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zOPPJ9TKlf7g" title="Estimated Useful Life of Property and Equipment">7 years</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Leasehold improvements</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Estimated Useful Lives of Property and Equipment"><span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentEstimatedUsefulLives_c20210101__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember" title="Estimated Useful Lives of Property and Equipment">Lease Term</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Vehicle</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_c20210101__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember" title="Estimated Useful Life of Property and Equipment">5 years</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> </table> The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the unaudited condensed consolidated statements of income and comprehensive income. Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals and betterments, which are expected to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets with no residual value. The estimated useful lives are as follows: SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 65%; border-collapse: collapse; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Useful Life</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 72%; text-align: justify">Computer and office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: center"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zSM6rZ4E7HA7" title="Estimated Useful Life of Property and Equipment">5-<span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_z8RdM1vvJvp3" title="Estimated Useful Life of Property and Equipment">7 years </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Furniture & fixtures</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zazsAUglOHq7" title="Estimated Useful Life of Property and Equipment">6-<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20210930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zOPPJ9TKlf7g" title="Estimated Useful Life of Property and Equipment">7 years</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Leasehold improvements</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Estimated Useful Lives of Property and Equipment"><span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentEstimatedUsefulLives_c20210101__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember" title="Estimated Useful Lives of Property and Equipment">Lease Term</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Vehicle</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_c20210101__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember" title="Estimated Useful Life of Property and Equipment">5 years</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> </table>

P5Y

P7Y

P6Y

P7Y

Lease Term

P5Y

Intangible assets, net Intangible assets, net, are stated at cost, less accumulated amortization. Amortization expense is recognized on the straight-line basis over the estimated useful lives of the assets as follows: SCHEDULE OF ESTIMATED USEFUL LIVES OF INTANGIBLE ASSETS, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 65%; border-collapse: collapse; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 72%">Classification</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: center">Useful Life</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Computer software</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_c20210101__20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--ComputerSoftwareIntangibleAssetMember" title="Estimated useful lives of intangible assets">5 years</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> </table>

Intangible assets, net, are stated at cost, less accumulated amortization. Amortization expense is recognized on the straight-line basis over the estimated useful lives of the assets as follows: SCHEDULE OF ESTIMATED USEFUL LIVES OF INTANGIBLE ASSETS, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 65%; border-collapse: collapse; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 72%">Classification</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: center">Useful Life</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 1%"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Computer software</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_c20210101__20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--ComputerSoftwareIntangibleAssetMember" title="Estimated useful lives of intangible assets">5 years</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> </table>

P5Y

Impairment for long-lived assets Long-lived assets, including property and equipment, and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, the Company would reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. As of September 30, 2021 and December 31, 2020, no impairment of long-lived assets was recognized.

Deferred offering costs Deferred offering costs represents costs associated with the Company’s current offering which will be netted against the proceeds from the Company’s current offering.

Investment in marketable equity securities The Company follows the provisions of ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. Investments in marketable equity securities (non-current) are reported at fair value with changes in fair value recognized in the Company’s unaudited condensed consolidated statements of operations and comprehensive loss in the caption of “unrealized holding gain loss on marketable securities” in each reporting period. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Investment in non-marketable equity securities The Company follows the provisions of ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. Due to the Company’s non-marketable equity securities (non-current) does not qualify for the practical expedient to estimate fair value in accordance with ASC 820-10-35-59, the Company has selected to record its investments in non-marketable equity securities (non-current) at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issue. At each reporting period, the Company will make a qualitative assessment considering impairment indicators to evaluate whether the investment is impaired. The qualitative assessment indicators include, but are not limited to: (1) A significant deterioration in the earnings performance, credit rating, asset quality, or business prospects of the investee; (ii) A significant adverse change in the regulatory, economic, or technological environment of the investee; (iii) A significant adverse change in the general market condition of either the geographical area or the industry in which the investee operates; (iv) A bona fide offer to purchase, an offer by the investee to sell, or a completed auction process for the same or similar investment for an amount less than the carrying amount of that investment; and (v) Factors that raise significant concerns about the investee’s ability to continue as a going concern, such as negative cash flows from operations, working capital deficiencies, or noncompliance with statutory capital requirements or debt covenants. If the qualitative assessment indicators indicated that the non-marketable equity securities (non-current) is deemed to be impaired, the Company would recognize the impairment loss equal to the difference between the fair value of the investment and its carrying amount.

Customer deposits Customer deposits represent amounts advanced by customers on product orders and discounted value of unapplied coupons. Customer deposits are reduced when the related sale is recognized in accordance with the Company’s revenue recognition policy.

Revenue recognition The Company adopted Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (ASC Topic 606) using the modified retrospective method for contracts that were not completed as of June 30, 2019. This did not result in an adjustment to retained earnings upon adoption of this new guidance as the Company’s revenue was recognized based on the amount of consideration expected to receive in exchange for satisfying the performance obligations. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) The core principle underlying the revenue recognition of this ASU allows the Company to recognize - revenue that represents the transfer of goods and services to customers in an amount that reflects the consideration to which the Company expects to be entitled in such exchange. This will require the Company to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time, based on when control of goods and services transfers to a customer. The Company’s revenue streams are recognized at a point in time for the Company’s sale of health and wellness products. The ASU requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The Company accounts for a contract with a customer when the contract is committed in writing, the rights of the parties, including payment terms, are identified, the contract has commercial substance and consideration is probable of substantially collection. Sales of Health and Wellness products - Performance obligations satisfied at a point in time The Company derives its revenues from sales contracts with its customers with revenues being recognized when control of the health and wellness products are transferred to its customer at the Company’s office or shipment of the goods. The revenue is recorded net of estimated discounts and return allowances. Products are given 60 days for returns or exchanges from the date of purchase. Historically, there were insignificant sales returns. The Company also sells coupons to its customers for cash at a discounted price of the value of the coupons. Customers can apply the value of the coupons for a reduction in the transaction price paid by the customer are recorded as a reduction of sales. The cash proceeds resulted from the sale of coupons are recognized as customer deposits until the coupons to be applied as a reduction of the health and wellness products transaction price upon such sales transactions occurred. The Company’s coupons have a validity period of six months. If the Company’s customers did not utilize the coupons after six months, the Company would recognize the forfeiture of the originated sales value of the coupons as net revenues. For the three months ended September 30, 2021 and 2020, the Company recognized $1,361 and $93,322 as forfeited coupon income, respectively. For the nine months ended September 30, 2021 and 2020, the Company recognized $12,587 and $93,322 as forfeited coupon income, respectively. As of September 30, 2021, the Company had contracts for the sales of health and wellness products amounting to $86,364 which it is expected to fulfill within 12 months. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Sales of Health and Wellness services - Performance obligations satisfied at a point in time The Company carries out its Wellness program, where the Company’s products are bundled with health screening test and a health camp program. The health screening test and the health camp programs are considered as separate performance obligations. The promises to deliver the health screening test report and the attendance at the health camp are separately identifiable, which are evidenced by the fact that the Company provides separate services of delivering the health screening test report and allowing admission of the customers to attend the health camp. The Company derives its revenues from sales contracts with its customers with revenues being recognized when the test reports are completed and delivered to its customers during the consultation section in person. The Company also separately derives its revenues from sales contracts with its customers with revenues being recognized when the health camp program was completed in the final day of the health camp. For the three months ended September 30, 2021 and 2020, revenues from health and wellness services were $1,308 and $0 respectively. For the nine months ended September 30, 2021 and 2020, revenues from health and wellness services were $7,054 and $0 respectively. Disaggregated information of revenues by products and services are as follows: SCHEDULE OF DIS-AGGREGATED INFORMATION OF REVENUES <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; background-color: White"> <td style="display: none; text-align: justify"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_495_20210701__20210930_zOySHtQ9WQCj" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_49F_20200701__20200930_zRQTfPrqrQpf" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_496_20210101__20210930_zPiek7r0Sen7" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_498_20200101__20200930_zVta5Ycofml" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; 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="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; 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="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; 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="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; 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="text-align: center; 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="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--SurvivorSelectMember_z7ByCKmJ3Tic" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify">Survivor Select</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">14,252</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">83,107</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">51,893</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: 11%; text-align: right">119,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--EnergizedMineralConcentrateMember_zUi4FaA8M3J5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Energized Mineral Concentrate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,232</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">81,097</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--IonizedCalMagMember_zy3WmwKFxEli" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Ionized Cal-Mag</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,506</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,804</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">850,716</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--OmegaBlendMember_zfEJBPBLz5A4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Omega Blend</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,582</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109,258</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">233,943</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271,801</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--BetaMaxxMember_zIxiztLHosN2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Beta Maxx</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,605</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">123,080</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,405</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">134,514</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--VegeFruitFiberMember_zdPHBx4JsF74" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Vege-Fruit Fiber</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--IronMember_zy0tVNsddgna" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Iron</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,619</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,334</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135,743</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--YoungFormulaMember_zMGomsX3fF81" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Young Formula</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">378,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,507</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">728,708</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--OrganicYouthCarCleansingBarMember_zpviiv9rAFc2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Organic Youth Care Cleansing Bar</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">12,395</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,200</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--MitogizeMember_zca2XlUkCp3j" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Mitogize</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">68,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,914</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,286</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,625</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--LipomaskMember_zX9DrEXekGCl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Lipomask</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,797</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,379</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,198</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,799</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--HyaluronicAcidSerumMember_zCvhMzI8tDM2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Hyaluronic Acid Serum</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">836</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,289</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,162</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">107,010</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--MousseFacialCleanserMember_zQ9f6hZNOUQe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Mousse Facial Cleanser</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,565</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,136</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,252</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,263</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--TrimPlusMember_zOfZcu7usJgl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Trim+</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">930</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124,931</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">348,428</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--HealthAndWellnessServicesMember_zR51smgYQM09" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Health and wellness services</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">1,308</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 style="border-bottom: Black 2.5pt double; 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 style="border-bottom: Black 2.5pt double; text-align: right">7,054</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 style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RevenuesForSaleOfProduct_pp0p0_zXGEZemG9YGf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total revenues</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">201,284</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,413,063</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">806,850</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,936,925</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

1361 93322 12587 93322

86364

1308

7054

Disaggregated information of revenues by products and services are as follows: SCHEDULE OF DIS-AGGREGATED INFORMATION OF REVENUES <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; background-color: White"> <td style="display: none; text-align: justify"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_495_20210701__20210930_zOySHtQ9WQCj" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_49F_20200701__20200930_zRQTfPrqrQpf" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_496_20210101__20210930_zPiek7r0Sen7" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_498_20200101__20200930_zVta5Ycofml" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30,</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; 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="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; 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="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; 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="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; 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="text-align: center; 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="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--SurvivorSelectMember_z7ByCKmJ3Tic" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify">Survivor Select</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">14,252</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">83,107</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">51,893</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">119,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--EnergizedMineralConcentrateMember_zUi4FaA8M3J5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Energized Mineral Concentrate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,232</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">81,097</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--IonizedCalMagMember_zy3WmwKFxEli" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Ionized Cal-Mag</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,506</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">352,718</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55,804</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">850,716</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--OmegaBlendMember_zfEJBPBLz5A4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Omega Blend</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48,582</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109,258</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">233,943</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271,801</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--BetaMaxxMember_zIxiztLHosN2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Beta Maxx</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,605</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">123,080</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">122,405</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">134,514</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--VegeFruitFiberMember_zdPHBx4JsF74" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Vege-Fruit Fiber</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,814</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,920</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--IronMember_zy0tVNsddgna" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Iron</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,619</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21,334</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135,743</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--YoungFormulaMember_zMGomsX3fF81" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Young Formula</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">378,970</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,507</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">728,708</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--OrganicYouthCarCleansingBarMember_zpviiv9rAFc2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Organic Youth Care Cleansing Bar</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">12,395</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,200</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--MitogizeMember_zca2XlUkCp3j" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Mitogize</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">68,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,914</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175,286</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,625</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--LipomaskMember_zX9DrEXekGCl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Lipomask</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,797</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,379</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,198</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41,799</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--HyaluronicAcidSerumMember_zCvhMzI8tDM2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Hyaluronic Acid Serum</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">836</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,289</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,162</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">107,010</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--MousseFacialCleanserMember_zQ9f6hZNOUQe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Mousse Facial Cleanser</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,565</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,136</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,252</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,263</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--TrimPlusMember_zOfZcu7usJgl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Trim+</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">930</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124,931</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">348,428</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--RevenuesForSaleOfProduct_pp0p0_hsrt--ProductOrServiceAxis__custom--HealthAndWellnessServicesMember_zR51smgYQM09" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Health and wellness services</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">1,308</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 style="border-bottom: Black 2.5pt double; 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 style="border-bottom: Black 2.5pt double; text-align: right">7,054</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 style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--RevenuesForSaleOfProduct_pp0p0_zXGEZemG9YGf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total revenues</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">201,284</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,413,063</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">806,850</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,936,925</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 14252 83107 51893 119101 49 58491 52232 81097 15506 352718 55804 850716 48582 109258 233943 271801 32605 123080 122405 134514 186 1814 186 7920 4619 22581 21334 135743 8606 378970 34507 728708 12395 2990 41200 68443 36914 175286 41625 1797 33379 10198 41799 836 51289 4162 107010 3565 24136 11252 27263 930 124931 23604 348428 1308 7054 201284 1413063 806850 2936925

Cost of revenue Cost of revenue includes freight-in, the purchase cost of manufactured goods for sale to customers, and inventory write-downs. Cost of revenue amounted to $36,663 and $186,891 for the three months ended September 30, 2021 and 2020, respectively. Cost of revenue amounted to $149,877 (including inventory write-downs of $36,636) and $658,445 for the nine months ended September 30, 2021 and 2020, respectively.

36663

186891

149877

36636

658445

Shipping and handling charges Shipping and handling charges amounted to $2,139 and $3,467 for the three months ended September 30, 2021 and 2020, respectively. Shipping and handling charges amounted to $7,411 and $6,022 for the nine months ended September 30, 2021 and 2020, respectively. Shipping and handling charges are expensed as incurred and included in selling expenses.

2139

3467

7411

6022

Advertising costs Advertising costs amounted to $2,473 and $5,634 for the three months ended September 30, 2021 and 2020, respectively. Advertising costs amounted to $19,131 and $8,516 for the nine months ended September 30, 2021 and 2020, respectively. Advertising costs are expensed as incurred and included in selling expenses.

2473

5634

19131

8516

Commission expenses Commission expenses are the Company’s most significant expenses. As with all companies in the network marketing industry, the Company’s sales channel is external to the Company. The Company’s “external sales force” is stratified into two levels based on priority recruitment. First, there are sales distributors. Second, all members recruited by a sales distributor, directly or indirectly, are referred to as “sales network members”. The Company pays commission to every sales distributor based on purchases made by its sales network members which includes the independent direct sales members. Top performing distributors with their own physical stores may also become stockists of the Company, whereby they enjoy benefits such as maintaining a certain amount of the Company’s inventory on their store premises. The stockists shall account to the Company for all products sales from their store premises as monitored through the Company’s centralized stock tracking system. The Company pays a separate commission to stockists based on revenue generated from the stockists’ physical stores. Commission expenses amounted to $76,817 and $ 300,957 for the three months ended September 30, 2021 and 2020, respectively. Commission expenses amounted to $258,030 and $683,455 for the nine months ended September 30, 2021 and 2020, respectively.

76817 300957 258030 683455 Defined contribution plan The full-time employees of the Company are entitled to the government mandated defined contribution plan. The Company is required to accrue and pay for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant government regulations, and make cash contributions to the government mandated defined contribution plan. Total expenses for the plans were $21,674 and $25,442 for the three months ended September 30, 2021 and 2020, respectively. Total expenses for the plans were $74,708 and $49,152 for the nine months ended September 30, 2021 and 2020, respectively. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) The related contribution plans include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.3in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.3in; text-align: justify">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Social Security Organization (“SOSCO”) – 1.75% based on employee’s monthly salary capped of RM 4,000;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Employees Provident Fund (“EPF”) – 12% based on employee’s monthly salary;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Employment Insurance System (“EIS”) – 0.2% based on employee’s monthly salary capped of RM 4,000;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Human Resource Development Fund (“HRDF”) – 1% based on employee’s monthly salary</td></tr> </table>

21674

25442

74708

49152

0.0175 4000 0.12 0.002 4000 0.01

Income taxes The Company accounts for income taxes in accordance with U.S. GAAP for income taxes. The charge for taxation is based on the results for the fiscal year as adjusted for items, which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred taxes is accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. No penalties and interest incurred related to underpayment of income taxes for the three months ended September 30, 2021 and 2020. $395 and $0 in penalties and interest incurred related to underpayment of income taxes for the nine months ended September 30, 2021 and 2020, respectively. The Company conducts much of its business activities in Hong Kong and Malaysia and is subject to tax in each of their jurisdictions. As a result of its business activities, the Company will file separate tax returns that are subject to examination by the foreign tax authorities.

greater than 50%

395

Comprehensive income (loss) Comprehensive income (loss) consists of two components, net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) refers to revenue, expenses, gains and losses that under GAAP are recorded as an element of stockholders’ equity but are excluded from net income. Other comprehensive income (loss) consists of a foreign currency translation adjustment resulting from the Company not using the U.S. dollar as its functional currencies. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Non-controlling interest Non-controlling interest mainly consists of approximately 0.01% (3 ordinary shares out of 9,590,599 shares) of the equity interests of ASL held by three individuals. The non-controlling interests are presented in the unaudited condensed consolidated balance sheets, separately from equity attributable to the shareholders of the Company. Non-controlling interests in the results of the Company are presented on the face of the unaudited condensed consolidated statements of operations as an allocation of the total income or loss for the periods between non-controlling interest holders and the shareholders of the Company. As of September 30, 2021 and December 31, 2020, the non-controlling interest balance was $0 and therefore not presented in the accompanying unaudited condensed consolidated financial statements.

Non-controlling interest mainly consists of approximately 0.01% (3 ordinary shares out of 9,590,599 shares) of the equity interests of ASL held by three individuals.

Earnings (loss) per share The Company computes earnings (loss) per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of the potential ordinary shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. For the three and nine months ended September 30, 2021 and 2020, there were no dilutive shares.

Foreign currencies translation and transaction Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the unaudited condensed consolidated statements of operations and comprehensive Income (Loss). The reporting currency of the Company is United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. The Company’s subsidiary in Labuan maintains its books and record in United States Dollars (“US$”) albeit its functional currency being the primary currency of the economic environment in which the entity operates, which is the Malaysian Ringgit (“MYR” or “RM”). The Company’s subsidiary in Hong Kong maintains its books and record in Hong Kong Dollars (“HK$”), similar to its functional currency. The Company’s subsidiary and VIE in Malaysia conducts its businesses and maintains its books and record in the local currency, Malaysian Ringgit (“MYR” or “RM”), as its functional currency. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statements of stockholders’ equity. Cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the unaudited condensed consolidated balance sheets. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Translation of foreign currencies into US$1 have been made at the following exchange rates for the respective periods: SCHEDULE OF FOREIGN CURRENCIES TRANSLATION EXCHANGE RATES <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Period-average MYR : US$1 exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20210930__us-gaap--VariableRateAxis__custom--PeriodEndMYRMember_zPLty03v3bs3" style="width: 14%; text-align: right" title="Foreign Currency Exchange Rate, Translation">4.19</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20201231__us-gaap--VariableRateAxis__custom--PeriodEndMYRMember_zhNfKgvfuNX8" style="width: 14%; text-align: right" title="Foreign Currency Exchange Rate, Translation">4.02</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Period-average HKD : US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20210930__us-gaap--VariableRateAxis__custom--PeriodEndHKDMember_zljtCNMi0j1e" style="text-align: right" title="Foreign Currency Exchange Rate, Translation">7.79</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20201231__us-gaap--VariableRateAxis__custom--PeriodEndHKDMember_zmaWGlKXKn3a" style="text-align: right" title="Foreign Currency Exchange Rate, Translation">7.75</td><td style="text-align: left"> </td></tr> </table> <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: justify">Period-average MYR : US$1 exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210701__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_z3P1EXhLfGtc" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.20</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200701__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_zJMvNRLxnKib" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.20</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210101__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_zKgYphmXJQLl" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.13</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200101__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_z32YTr9GAYTg" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.23</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Period-average HKD : US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210701__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_zg2wpOejCU93" style="text-align: right" title="Foreign currency exchange rate period average">7.78</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200701__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_zeCQ3Brx8SN1" style="text-align: right" title="Foreign currency exchange rate period average">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210101__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_z4JmnbD7Qb5l" style="text-align: right" title="Foreign currency exchange rate period average">7.77</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200101__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_zBclx1N5s1a2" style="text-align: right" title="Foreign currency exchange rate period average">7.76</td><td style="text-align: left"> </td></tr> </table> Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. Fair value of financial instruments The accounting standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.3in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.3in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.</td></tr> </table> Financial instruments included in current assets and current liabilities are reported in the unaudited condensed consolidated balance sheets at face value or cost, which approximate fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Leases Some of the Company’s leases include one or more options to renew, which is typically at the Company’s sole discretion. The Company regularly evaluates the renewal options, and, when it is reasonably certain of exercise, it will include the renewal period in its lease term. New lease modifications result in re-measurement of the right of use (“ROU”) assets and lease liabilities. Operating ROU assets and lease liabilities are recognized at the commencement date, based on the present value of lease payments over the lease term. Since the implicit rate for the Company’s leases is not readily determinable, the Company use its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term. Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as the Company does not have reasonable certainty at lease inception that these options will be exercised. The Company generally considers the economic life of its operating lease ROU assets to be comparable to the useful life of similar owned assets. The Company has elected the short-term lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Its leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. The Company reviews the impairment of its ROU assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of operating lease liabilities in any tested asset group and includes the associated operating lease payments in the undiscounted future pre-tax cash flows. Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of such any pronouncements may be expected to cause a material impact on its financial condition or the results of its operations, as follow: In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. Update 2016-13 also modified the accounting for available-for-sale debt securities, which must be individually assessed for credit losses when fair value is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments— Credit Losses—Available-for-Sale Debt Securities. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. In November 2019, the FASB issued ASU No. 2019-10, which to update the effective date of ASU No. 2016-13 for private companies, not-for-profit organizations and certain smaller reporting companies applying for credit losses, leases, and hedging standard. The new effective date for these preparers is for fiscal years beginning after December 15, 2022. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning January 1, 2023 as the Company is qualified as a smaller reporting company. The Company is currently evaluating the impact ASU 2019-05 may have on its unaudited condensed consolidated financial statements. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In January 2020, the FASB issued ASU 2020-01 to clarify the interaction of the accounting for equity securities under ASC 321 and investments accounted for under the equity method of accounting in ASC 323 and the accounting for certain forward contracts and purchased options accounted for under ASC 815. With respect to the interactions between ASC 321 and ASC 323, the amendments clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting when applying the measurement alternative in ASC 321, immediately before applying or upon discontinuing the equity method of accounting. With respect to forward contracts or purchased options to purchase securities, the amendments clarify that when applying the guidance in ASC 815-10-15-141(a), an entity should not consider whether upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in ASC 323 or the fair value option in accordance with ASC 825. The ASU is effective for interim and annual reporting periods beginning after December 15, 2020. Early adoption is permitted, including adoption in any interim period. The adoption of this standard on January 1, 2021 did not have a material impact on its unaudited condensed consolidated financial statements. In October 2020, the FASB issued ASU 2020-08, “Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs”. The amendments in this Update represent changes to clarify the Codification. The amendments make the Codification easier to understand and easier to apply by eliminating inconsistencies and providing clarifications. ASU 2020-08 is effective for the Company for annual and interim reporting periods beginning January 1, 2021. Early application is not permitted. All entities should apply the amendments in this Update on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities. These amendments do not change the effective dates for Update 2017-08. The adoption of this standard on January 1, 2021 did not have a material impact on its unaudited condensed consolidated financial statements. In October 2020, the FASB issued ASU 2020-10, “Codification Improvements”. The amendments in this Update represent changes to clarify the Codification or correct unintended application of guidance that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments in this Update affect a wide variety of Topics in the Codification and apply to all reporting entities within the scope of the affected accounting guidance. ASU 2020-10 is effective for annual periods beginning after December 15, 2020 for public business entities. Early application is permitted. The amendments in this Update should be applied retrospectively. The adoption of this standard on January 1, 2021 did not have a material impact on its unaudited condensed consolidated financial statements.

Translation of foreign currencies into US$1 have been made at the following exchange rates for the respective periods: SCHEDULE OF FOREIGN CURRENCIES TRANSLATION EXCHANGE RATES <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Period-average MYR : US$1 exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20210930__us-gaap--VariableRateAxis__custom--PeriodEndMYRMember_zPLty03v3bs3" style="width: 14%; text-align: right" title="Foreign Currency Exchange Rate, Translation">4.19</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20201231__us-gaap--VariableRateAxis__custom--PeriodEndMYRMember_zhNfKgvfuNX8" style="width: 14%; text-align: right" title="Foreign Currency Exchange Rate, Translation">4.02</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Period-average HKD : US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20210930__us-gaap--VariableRateAxis__custom--PeriodEndHKDMember_zljtCNMi0j1e" style="text-align: right" title="Foreign Currency Exchange Rate, Translation">7.79</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_c20201231__us-gaap--VariableRateAxis__custom--PeriodEndHKDMember_zmaWGlKXKn3a" style="text-align: right" title="Foreign Currency Exchange Rate, Translation">7.75</td><td style="text-align: left"> </td></tr> </table> <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: justify">Period-average MYR : US$1 exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210701__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_z3P1EXhLfGtc" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.20</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200701__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_zJMvNRLxnKib" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.20</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210101__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_zKgYphmXJQLl" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.13</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200101__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageMYRMember_z32YTr9GAYTg" style="width: 12%; text-align: right" title="Foreign currency exchange rate period average">4.23</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Period-average HKD : US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210701__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_zg2wpOejCU93" style="text-align: right" title="Foreign currency exchange rate period average">7.78</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200701__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_zeCQ3Brx8SN1" style="text-align: right" title="Foreign currency exchange rate period average">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20210101__20210930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_z4JmnbD7Qb5l" style="text-align: right" title="Foreign currency exchange rate period average">7.77</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ForeignCurrencyExchangeRateAverage_pid_c20200101__20200930__us-gaap--VariableRateAxis__custom--PeriodAverageHKDMember_zBclx1N5s1a2" style="text-align: right" title="Foreign currency exchange rate period average">7.76</td><td style="text-align: left"> </td></tr> </table>

4.19

4.02

7.79

7.75

4.20 4.20 4.13 4.23 7.78 7.75 7.77 7.76 Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Fair value of financial instruments The accounting standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company. The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.3in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.3in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.</td></tr> </table> Financial instruments included in current assets and current liabilities are reported in the unaudited condensed consolidated balance sheets at face value or cost, which approximate fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Leases Some of the Company’s leases include one or more options to renew, which is typically at the Company’s sole discretion. The Company regularly evaluates the renewal options, and, when it is reasonably certain of exercise, it will include the renewal period in its lease term. New lease modifications result in re-measurement of the right of use (“ROU”) assets and lease liabilities. Operating ROU assets and lease liabilities are recognized at the commencement date, based on the present value of lease payments over the lease term. Since the implicit rate for the Company’s leases is not readily determinable, the Company use its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term. Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as the Company does not have reasonable certainty at lease inception that these options will be exercised. The Company generally considers the economic life of its operating lease ROU assets to be comparable to the useful life of similar owned assets. The Company has elected the short-term lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Its leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. The Company reviews the impairment of its ROU assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of operating lease liabilities in any tested asset group and includes the associated operating lease payments in the undiscounted future pre-tax cash flows.

Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of such any pronouncements may be expected to cause a material impact on its financial condition or the results of its operations, as follow: In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. Update 2016-13 also modified the accounting for available-for-sale debt securities, which must be individually assessed for credit losses when fair value is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments— Credit Losses—Available-for-Sale Debt Securities. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. In November 2019, the FASB issued ASU No. 2019-10, which to update the effective date of ASU No. 2016-13 for private companies, not-for-profit organizations and certain smaller reporting companies applying for credit losses, leases, and hedging standard. The new effective date for these preparers is for fiscal years beginning after December 15, 2022. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning January 1, 2023 as the Company is qualified as a smaller reporting company. The Company is currently evaluating the impact ASU 2019-05 may have on its unaudited condensed consolidated financial statements. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) In January 2020, the FASB issued ASU 2020-01 to clarify the interaction of the accounting for equity securities under ASC 321 and investments accounted for under the equity method of accounting in ASC 323 and the accounting for certain forward contracts and purchased options accounted for under ASC 815. With respect to the interactions between ASC 321 and ASC 323, the amendments clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting when applying the measurement alternative in ASC 321, immediately before applying or upon discontinuing the equity method of accounting. With respect to forward contracts or purchased options to purchase securities, the amendments clarify that when applying the guidance in ASC 815-10-15-141(a), an entity should not consider whether upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in ASC 323 or the fair value option in accordance with ASC 825. The ASU is effective for interim and annual reporting periods beginning after December 15, 2020. Early adoption is permitted, including adoption in any interim period. The adoption of this standard on January 1, 2021 did not have a material impact on its unaudited condensed consolidated financial statements. In October 2020, the FASB issued ASU 2020-08, “Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs”. The amendments in this Update represent changes to clarify the Codification. The amendments make the Codification easier to understand and easier to apply by eliminating inconsistencies and providing clarifications. ASU 2020-08 is effective for the Company for annual and interim reporting periods beginning January 1, 2021. Early application is not permitted. All entities should apply the amendments in this Update on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities. These amendments do not change the effective dates for Update 2017-08. The adoption of this standard on January 1, 2021 did not have a material impact on its unaudited condensed consolidated financial statements. In October 2020, the FASB issued ASU 2020-10, “Codification Improvements”. The amendments in this Update represent changes to clarify the Codification or correct unintended application of guidance that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments in this Update affect a wide variety of Topics in the Codification and apply to all reporting entities within the scope of the affected accounting guidance. ASU 2020-10 is effective for annual periods beginning after December 15, 2020 for public business entities. Early application is permitted. The amendments in this Update should be applied retrospectively. The adoption of this standard on January 1, 2021 did not have a material impact on its unaudited condensed consolidated financial statements.

3. VARIABLE INTEREST ENTITY (“VIE”) SEA is a trading company incorporated on March 4, 2004, under the laws of Malaysia. SEA provided majority of ASL’s purchases. Its equity at risk was insufficient to finance its activities and 100% of its business is transacted with ASL. Therefore, it was considered to be a VIE and ASL is the primary beneficiary since it has both of the following characteristics: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.3in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.3in; text-align: justify">a.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">b.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE.</td></tr> </table> Accordingly, the accounts of SEA is consolidated in the accompanying unaudited condensed financial statements. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 3. VARIABLE INTEREST ENTITY (“VIE”) (Continued) The carrying amount of the VIE’s assets and liabilities were as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Current assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: justify">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--CashAndCashEquivalentsAtCarryingValue_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="width: 14%; text-align: right" title="Cash and cash equivalents">22,232</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="width: 14%; text-align: right" title="Cash and cash equivalents">37,387</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: justify; padding-bottom: 1.5pt">Prepaid taxes</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--PrepaidTaxes_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Prepaid taxes">1,353</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_989_eus-gaap--PrepaidTaxes_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Prepaid taxes">11,330</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total current assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--AssetsCurrent_iI_pp0p0_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zorqtBqVd2Ik" style="text-align: right" title="Total current assets">23,585</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--AssetsCurrent_iI_pp0p0_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zFcDY9lEUxkb" style="text-align: right" title="Total current assets">48,717</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </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: justify; padding-bottom: 1.5pt">Other asset – Deferred tax asset</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--OtherAssetsCurrent_iI_pp0p0_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zhEOGKt4Nyc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other assets">8,751</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_981_eus-gaap--OtherAssetsCurrent_iI_pdp0_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_z4jcxJ7hYl9c" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other assets">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Total assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98B_eus-gaap--Assets_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total assets">32,336</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">$</td><td id="xdx_985_eus-gaap--Assets_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total assets">48,717</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Current liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts payable – intercompany</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecustom--AccountsPayableIntercompanyCurrent_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="text-align: right" title="Accounts payable - intercompany">49,581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_ecustom--AccountsPayableIntercompanyCurrent_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="text-align: right" title="Accounts payable - intercompany">51,669</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Other payables and accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other payables and accrued liabilities">1,257</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_984_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other payables and accrued liabilities">1,904</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--LiabilitiesCurrent_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total current liabilities">50,838</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--LiabilitiesCurrent_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total current liabilities">53,573</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="text-align: justify"> </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: justify; padding-bottom: 2.5pt">Net deficit</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--StockholdersEquity_iI_pp0p0_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zrSlBJxgt1Z1" style="border-bottom: Black 2.5pt double; text-align: right" title="Net deficit">(18,502</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--StockholdersEquity_iI_pp0p0_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zja9mr7uK73h" style="border-bottom: Black 2.5pt double; text-align: right">(4,856</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The summarized operating results of the VIE’s are as follows: <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 style="display: none; font-weight: bold; text-align: center"> </td><td style="display: none; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20210701__20210930_zfZTcpG9CSD8" style="display: none; font-weight: bold; text-align: center"> </td><td style="display: none; text-align: center; font-weight: bold"> </td><td style="display: none; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20200701__20200930_zLuDlwfcsJIk" style="display: none; font-weight: bold; text-align: center"> </td><td style="display: none; text-align: center; font-weight: bold"> </td><td style="display: none; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20210101__20210930_zPFwwPEdKtR5" style="display: none; font-weight: bold; text-align: center"> </td><td style="display: none; text-align: center; font-weight: bold"> </td><td style="display: none; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_496_20200101__20200930_z0ss1QHXrAF2" style="display: none; font-weight: bold; text-align: center"> </td><td style="display: none; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; 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="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zzQeYvOKXGs" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: justify; padding-bottom: 2.5pt">Operating revenues</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">146,788</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">276,280</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--GrossProfit_hus-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zGAJ3HB92JBj" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Gross profit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</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">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">955</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</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">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,328</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingIncomeLoss_hus-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zevSviKB6mbd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Loss from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,914</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,171</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(16,881</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(7,920</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLoss_hus-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zF0tVTYV1ZQ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,079</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,627</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(14,028</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(26,766</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares)

The carrying amount of the VIE’s assets and liabilities were as follows: <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Current 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></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: justify">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--CashAndCashEquivalentsAtCarryingValue_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="width: 14%; text-align: right" title="Cash and cash equivalents">22,232</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="width: 14%; text-align: right" title="Cash and cash equivalents">37,387</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: justify; padding-bottom: 1.5pt">Prepaid taxes</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--PrepaidTaxes_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Prepaid taxes">1,353</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_989_eus-gaap--PrepaidTaxes_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Prepaid taxes">11,330</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total current assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--AssetsCurrent_iI_pp0p0_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zorqtBqVd2Ik" style="text-align: right" title="Total current assets">23,585</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--AssetsCurrent_iI_pp0p0_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zFcDY9lEUxkb" style="text-align: right" title="Total current assets">48,717</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </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: justify; padding-bottom: 1.5pt">Other asset – Deferred tax asset</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--OtherAssetsCurrent_iI_pp0p0_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zhEOGKt4Nyc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other assets">8,751</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_981_eus-gaap--OtherAssetsCurrent_iI_pdp0_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_z4jcxJ7hYl9c" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other assets">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Total assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98B_eus-gaap--Assets_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total assets">32,336</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_985_eus-gaap--Assets_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total assets">48,717</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </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: justify">Current 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 style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts payable – intercompany</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_ecustom--AccountsPayableIntercompanyCurrent_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="text-align: right" title="Accounts payable - intercompany">49,581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_ecustom--AccountsPayableIntercompanyCurrent_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="text-align: right" title="Accounts payable - intercompany">51,669</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Other payables and accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other payables and accrued liabilities">1,257</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_984_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other payables and accrued liabilities">1,904</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--LiabilitiesCurrent_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total current liabilities">50,838</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--LiabilitiesCurrent_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total current liabilities">53,573</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="text-align: justify"> </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: justify; padding-bottom: 2.5pt">Net deficit</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--StockholdersEquity_iI_pp0p0_c20210930__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zrSlBJxgt1Z1" style="border-bottom: Black 2.5pt double; text-align: right" title="Net deficit">(18,502</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--StockholdersEquity_iI_pp0p0_c20201231__us-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zja9mr7uK73h" style="border-bottom: Black 2.5pt double; text-align: right">(4,856</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The summarized operating results of the VIE’s are as follows: <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 style="display: none; font-weight: bold; text-align: center"> </td><td style="display: none; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20210701__20210930_zfZTcpG9CSD8" style="display: none; font-weight: bold; text-align: center"> </td><td style="display: none; text-align: center; font-weight: bold"> </td><td style="display: none; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20200701__20200930_zLuDlwfcsJIk" style="display: none; font-weight: bold; text-align: center"> </td><td style="display: none; text-align: center; font-weight: bold"> </td><td style="display: none; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_492_20210101__20210930_zPFwwPEdKtR5" style="display: none; font-weight: bold; text-align: center"> </td><td style="display: none; text-align: center; font-weight: bold"> </td><td style="display: none; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_496_20200101__20200930_z0ss1QHXrAF2" style="display: none; font-weight: bold; text-align: center"> </td><td style="display: none; text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; 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="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zzQeYvOKXGs" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: justify; padding-bottom: 2.5pt">Operating revenues</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">146,788</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">276,280</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--GrossProfit_hus-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zGAJ3HB92JBj" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Gross profit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">955</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">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,328</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingIncomeLoss_hus-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zevSviKB6mbd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Loss from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,914</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,171</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(16,881</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(7,920</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLoss_hus-gaap--TradingActivityByTypeAxis__us-gaap--VariableIncomeInterestRateMember_zF0tVTYV1ZQ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Net loss</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,079</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(8,627</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">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(14,028</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(26,766</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

22232

37387

1353

11330

23585

48717

8751

32336

48717

49581 51669

1257

1904

50838

53573

-18502

-4856

146788

276280

955

2328

-4914

-4171

-16881

-7920

-4079

-8627

-14028

-26766

4. BUSINESS COMBINATION On May 8, 2020, the Company entered into a Share Exchange Agreement (“SPA”) with Mr. How Kok Choong, CEO and director of the Company to acquire <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20200507__20200508__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_zPSEvIuoQiq7" title="Stock issued during period acquisitions, shares">9,590,596 ordinary shares, <span id="xdx_902_eus-gaap--CommonStockNoParValue_iI_pid_do_c20200508__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingSdnBhdMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_z71zNhBNeIpj" title="Ordinary shares no par value">no par value, equivalent to approximately <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_c20200508__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_zabpjtVgt1d5" title="Ownership interest percentage">99.99% of the equity interest in ASL, an entity incorporated in Malaysia. Pursuant to the SPA, as amended on July 1, 2020, Mr. How will receive an aggregate consideration of $<span id="xdx_90C_eus-gaap--BusinessCombinationConsiderationTransferred1_c20200507__20200508__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_pp0p0" title="Purchase consideration value">1,804,046, which was determined based on the net asset carrying value of ASL as at March 31, 2020. The aggregate consideration shall be satisfied by (i) the offset of the Consideration whereby the Company has a loan receivable of $<span id="xdx_90F_eus-gaap--BusinessCombinationConsiderationTransferredLiabilitiesIncurred_c20200101__20200331__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingSdnBhdMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_pp0p0" title="Loan payable">656,495 as of March 31, 2020 due from Mr. How; and (ii) allotment and issuance of common stock of the Company. The Company shall allot and issue <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20200101__20200331__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingSdnBhdMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_zE3BvwsPIwml" title="Issuance of common stock shares">176,547 shares of the Company’s common stock, par value $<span id="xdx_900_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20200331__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingSdnBhdMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_zLfJVXRoF3ya" title="Common stock par value">0.0001, representing approximately <span id="xdx_902_ecustom--PercentageOfCommonStockIssuedAndOutstanding_pid_c20200101__20200331__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingSdnBhdMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_z5Ch3fLkQyPj" title="Percentage of common stock issued and outstanding">0.0469% of the total issued and outstanding shares in the Company after the issuance of the Shares, which is valued at $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_c20200101__20200331__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingSdnBhdMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_pp0p0" title="Stock issued during period, value, acquisitions">1,147,551 based on the closing price of $6.50 of the Company as quoted on the OTC Market on March 31, 2020. In 2020, the Company has issued all <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20200101__20200331__srt--TitleOfIndividualAxis__custom--MrHowKokChoongMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingSdnBhdMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_zkT7SHrH0xNd" title="Issuance of common stock shares">176,547 shares of the Company’s common stock. The Company’s acquisition of ASL was accounted for as a business combination in accordance with ASC 805. The Company has allocated the purchase price of ASL based upon the carrying value of the identifiable assets acquired and liabilities assumed on April 1, 2020 as ASL was under the common control of Mr. How. The following table summarizes the carry value of the identifiable assets acquired and liabilities assumed on the acquisition date, which represents the net purchase price allocation on the date of the acquisition of ASL. SUMMARY OF ASSETS ACQUIRED AND LIABILITIES ASSUMED <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Carry Value</td><td style="text-align: center; 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; text-align: justify">ASSETS</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="font-weight: bold; text-align: justify">Current assets</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="width: 80%; text-align: justify; padding-left: 10pt">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_c20210930_pp0p0" style="width: 16%; text-align: right" title="Cash">1,206,493</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Other receivables</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_c20210930_pp0p0" style="text-align: right" title="Other receivables">33,210</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Other receivables - related parties</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivablesRelatedParties_c20210930_pp0p0" style="text-align: right" title="Other receivables - related parties">219,121</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Inventories</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_c20210930_pp0p0" style="text-align: right" title="Inventories">616,880</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Prepaid taxes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidTaxes_c20210930_pp0p0" style="text-align: right" title="Prepaid taxes">1,206,821</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 10pt">Prepayments and other assets</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--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Prepayments and other assets">318,267</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 20pt">Total current assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total current assets">3,600,792</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </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="font-weight: bold; text-align: justify">Other assets</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: justify; padding-left: 10pt">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_c20210930_pp0p0" style="text-align: right" title="Property and equipment, net">325,648</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Intangible assets, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_c20210930_pp0p0" style="text-align: right" title="Intangible assets, net">6,686</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 10pt">Deferred taxes asset, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Deferred taxes asset, net">172,250</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 20pt">Total other assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentAssets_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total other assets">504,584</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </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: justify; padding-bottom: 2.5pt; padding-left: 30pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">4,105,376</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">LIABILITIES AND SHAREHOLDERS’ EQUITY</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Accounts payable - related party</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_c20210930_pp0p0" style="text-align: right" title="Accounts payable - related party">491,628</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Customer deposits</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue_c20210930_pp0p0" style="text-align: right" title="Customer deposits">1,600,606</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 10pt">Other payables and accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other payables and accrued liabilities">209,096</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 20pt">Total current liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total current liabilities">2,301,330</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </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: justify; padding-bottom: 1.5pt; padding-left: 30pt">Total liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total liabilities">2,301,330</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 20pt">Total net assets acquired</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total net assets acquired">1,804,046</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 4. BUSINESS COMBINATION (Continued) The following unaudited pro forma combined results of operations presents the Company’s financial results as if the acquisition of ASL had been completed on January 1, 2020. The unaudited pro forma results do not reflect operating efficiencies or potential cost savings which may result from the consolidation of operations. Accordingly, the unaudited pro forma financial information is not necessarily indicative of the results of operations that the Company would have recognized had it completed the transaction on January 1, 2020. Future results may vary significantly from the results in this pro forma information because of future events and transactions, as well as other factors. SCHEDULE OF PRO FORMA BUSINESS COMBINATION <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="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">For the Nine Months Ended</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--BusinessAcquisitionsProFormaRevenue_c20210101__20210930_pp0p0" style="width: 16%; text-align: right" title="Revenue">4,178,177</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Cost of revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--BusinessAcquisitionsProFormaCostOfRevenue_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost of revenue">(737,512</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Gross profit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--BusinessAcquisitionsProFormaGrossProfit_c20210101__20210930_pp0p0" style="text-align: right" title="Gross profit">3,440,665</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Total operating expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--BusinessAcquisitionsProFormaOperatingExpenses_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total operating expenses">(3,025,438</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Income from operations</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax_c20210101__20210930_pp0p0" style="text-align: right" title="Income (loss) from operations">415,227</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Other income, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_ecustom--BusinessAcquisitionsProFormaOtherOperatingIncomeExpenseNet_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other income (expense), net">75,603</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Income before income taxes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--BusinessAcquisitionsProFormaIncomeLossBeforeIncomeTaxes_c20210101__20210930_pp0p0" style="text-align: right" title="Income (loss) before income taxes">490,830</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Provision for income taxes</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_ecustom--BusinessAcquisitionsProFormaIncomeTaxExpenseBenefit_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Benefit of (Provision for) income taxes">(242,841</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Net income</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_c20210101__20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Net income (loss)">247,989</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Net income per common share - basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_c20210101__20210930_pdd" style="border-bottom: Black 2.5pt double; text-align: right" title="Net income (loss) per common share - basic and diluted">0.00</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="text-align: justify; padding-bottom: 1.5pt">Weighted average number of common shares outstanding - basic and diluted</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_ecustom--BusinessAcquisitionProFormaWeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted_c20210101__20210930_pdd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average number of common shares outstanding - basic and diluted">376,452,047</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

9590596

0.9999

1804046

656495

176547

0.0001

0.000469

1147551

6.50

176547

The following table summarizes the carry value of the identifiable assets acquired and liabilities assumed on the acquisition date, which represents the net purchase price allocation on the date of the acquisition of ASL. SUMMARY OF ASSETS ACQUIRED AND LIABILITIES ASSUMED <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Carry Value</td><td style="text-align: center; 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; text-align: justify">ASSETS</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="font-weight: bold; text-align: justify">Current assets</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="width: 80%; text-align: justify; padding-left: 10pt">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_c20210930_pp0p0" style="width: 16%; text-align: right" title="Cash">1,206,493</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Other receivables</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_c20210930_pp0p0" style="text-align: right" title="Other receivables">33,210</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Other receivables - related parties</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivablesRelatedParties_c20210930_pp0p0" style="text-align: right" title="Other receivables - related parties">219,121</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Inventories</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_c20210930_pp0p0" style="text-align: right" title="Inventories">616,880</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Prepaid taxes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidTaxes_c20210930_pp0p0" style="text-align: right" title="Prepaid taxes">1,206,821</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 10pt">Prepayments and other assets</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--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Prepayments and other assets">318,267</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 20pt">Total current assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssets_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total current assets">3,600,792</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </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="font-weight: bold; text-align: justify">Other assets</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: justify; padding-left: 10pt">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_c20210930_pp0p0" style="text-align: right" title="Property and equipment, net">325,648</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Intangible assets, net</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill_c20210930_pp0p0" style="text-align: right" title="Intangible assets, net">6,686</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 10pt">Deferred taxes asset, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssets_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Deferred taxes asset, net">172,250</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 20pt">Total other assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentAssets_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total other assets">504,584</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </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: justify; padding-bottom: 2.5pt; padding-left: 30pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total assets">4,105,376</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </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="font-weight: bold; text-align: justify">LIABILITIES AND SHAREHOLDERS’ EQUITY</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="font-weight: bold; text-align: justify">Current liabilities</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: justify; padding-left: 10pt">Accounts payable - related party</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_c20210930_pp0p0" style="text-align: right" title="Accounts payable - related party">491,628</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Customer deposits</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue_c20210930_pp0p0" style="text-align: right" title="Customer deposits">1,600,606</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 10pt">Other payables and accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other payables and accrued liabilities">209,096</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 20pt">Total current liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total current liabilities">2,301,330</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </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: justify; padding-bottom: 1.5pt; padding-left: 30pt">Total liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total liabilities">2,301,330</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </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: justify; padding-bottom: 1.5pt; padding-left: 20pt">Total net assets acquired</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_c20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total net assets acquired">1,804,046</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

1206493

33210

219121

616880

1206821

318267

3600792

325648

6686

172250

504584

4105376

491628

1600606

209096

2301330

1804046

SCHEDULE OF PRO FORMA BUSINESS COMBINATION <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="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">For the Nine Months Ended</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--BusinessAcquisitionsProFormaRevenue_c20210101__20210930_pp0p0" style="width: 16%; text-align: right" title="Revenue">4,178,177</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Cost of revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--BusinessAcquisitionsProFormaCostOfRevenue_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost of revenue">(737,512</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Gross profit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--BusinessAcquisitionsProFormaGrossProfit_c20210101__20210930_pp0p0" style="text-align: right" title="Gross profit">3,440,665</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Total operating expenses</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--BusinessAcquisitionsProFormaOperatingExpenses_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total operating expenses">(3,025,438</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Income from operations</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax_c20210101__20210930_pp0p0" style="text-align: right" title="Income (loss) from operations">415,227</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Other income, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_ecustom--BusinessAcquisitionsProFormaOtherOperatingIncomeExpenseNet_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Other income (expense), net">75,603</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Income before income taxes</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--BusinessAcquisitionsProFormaIncomeLossBeforeIncomeTaxes_c20210101__20210930_pp0p0" style="text-align: right" title="Income (loss) before income taxes">490,830</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Provision for income taxes</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_ecustom--BusinessAcquisitionsProFormaIncomeTaxExpenseBenefit_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Benefit of (Provision for) income taxes">(242,841</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Net income</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_c20210101__20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Net income (loss)">247,989</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Net income per common share - basic and diluted</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--BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_c20210101__20210930_pdd" style="border-bottom: Black 2.5pt double; text-align: right" title="Net income (loss) per common share - basic and diluted">0.00</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="text-align: justify; padding-bottom: 1.5pt">Weighted average number of common shares outstanding - basic and diluted</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_989_ecustom--BusinessAcquisitionProFormaWeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted_c20210101__20210930_pdd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted average number of common shares outstanding - basic and diluted">376,452,047</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

4178177

-737512 3440665 -3025438

415227

75603 490830 -242841

247989

0.00 376452047

5. CASH AND CASH EQUIVALENTS As of September 30, 2021 and December 31, 2020 the Company has $2,880,677 and $3,517,600, respectively, of cash and cash equivalents, which consists of $841,836 and $1,112,147, respectively, of cash in banks and $2,032,119 and $2,391,182, respectively, of time deposits placed with banks or other financial institutions and are all highly liquid investments with an original maturity of three months or less. The effective interest rate for the time deposits for ranged between <span id="xdx_909_eus-gaap--PercentageOfInterestBearingDomesticDepositsToDepositsTimeDeposits_iI_pid_c20210930__srt--RangeAxis__srt--MaximumMember_zAR3ImKPaG4h" title="Percentage of Interest rate for time deposits">1.80% to <span id="xdx_905_eus-gaap--PercentageOfInterestBearingDomesticDepositsToDepositsTimeDeposits_iI_pid_c20210930__srt--RangeAxis__srt--MinimumMember_z2pzaXjtdvkh" title="Percentage of Interest rate for time deposits">2.15% per annum for the three and nine months ended September 30, 2021. The effective interest rate for the time deposits for ranged between <span id="xdx_908_eus-gaap--PercentageOfInterestBearingDomesticDepositsToDepositsTimeDeposits_iI_pid_c20200930__srt--RangeAxis__srt--MaximumMember_zk1154RqkWZj" title="Percentage of Interest rate for time deposits">2.95% to <span id="xdx_903_eus-gaap--PercentageOfInterestBearingDomesticDepositsToDepositsTimeDeposits_iI_pid_c20200930__srt--RangeAxis__srt--MinimumMember_zmq5OpPYDkI1" title="Percentage of Interest rate for time deposits">3.25% per annum for the three and nine months ended September 30, 2020. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares)

2880677

3517600

841836

1112147

2032119

2391182

0.0180

0.0215

0.0295

0.0325

6. ACCOUNTS RECEIVABLE <p id="xdx_892_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zveFT1Ndu6T8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> SCHEDULE OF ACCOUNTS RECEIVABLES <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20210930_zd5EYbrtkQ4e" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20201231_z84UHDlKsywi" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsReceivableGrossCurrent_iI_pp0p0_maARNCzXGf_zqSRcHe4lBSi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">172,757</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsReceivableRelatedPartiesCurrent_iI_pp0p0_maARNCzXGf_zkuE0PDWBeW2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Allowance for doubtful accounts</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">-</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 style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsReceivableNetCurrent_iTI_pp0p0_mtARNCzXGf_z81H2vUrD9M2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">172,757</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_892_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zveFT1Ndu6T8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> SCHEDULE OF ACCOUNTS RECEIVABLES <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20210930_zd5EYbrtkQ4e" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20201231_z84UHDlKsywi" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsReceivableGrossCurrent_iI_pp0p0_maARNCzXGf_zqSRcHe4lBSi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">172,757</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsReceivableRelatedPartiesCurrent_iI_pp0p0_maARNCzXGf_zkuE0PDWBeW2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Allowance for doubtful accounts</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">-</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 style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsReceivableNetCurrent_iTI_pp0p0_mtARNCzXGf_z81H2vUrD9M2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">172,757</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

172757

7. INVENTORIES Inventories consist of the following: SCHEDULE OF INVENTORIES <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20210930_zEyYfHd73RKd" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20201231_zzuyPlc5rmAb" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify; padding-bottom: 2.5pt">Finished goods</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">475,508</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">589,814</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> For the three months ended September 30, 2021 and 2020, the Company didn’t recognize any inventory write-down. For the nine months ended September 30, 2021 and 2020, the Company recognized inventory write-down of $36,636 and $0, respectively.

Inventories consist of the following: SCHEDULE OF INVENTORIES <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20210930_zEyYfHd73RKd" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20201231_zzuyPlc5rmAb" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryFinishedGoods_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify; padding-bottom: 2.5pt">Finished goods</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">475,508</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">589,814</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

475508

589814

36636

8. PREPAYMENTS AND DEPOSITS SCHEDULE OF PREPAID EXPENSES AND DEPOSITS <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20210930_zv5Wk0Vku2sd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20201231_zGwZAglkSgjc" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_ecustom--ReceivablesFromSalesDistributors_iI_pp0p0_maPADGz7Zc_zGTVKYj9EAZh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Receivables from sales distributors</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">32,580</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">35,302</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DepositsToSupplier_iI_pp0p0_maPADGz7Zc_z1s7Ev6iEnV1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Deposits to suppliers</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">260,761</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 style="border-bottom: Black 1.5pt solid; text-align: right">261,068</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PrepaymentsAndDepositsGross_iTI_pp0p0_mtPADGz7Zc_maPEAOAz2JY_z6FyeyYNGz4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">293,341</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">296,370</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AllowanceForPrepaymentsAndDeposits_iNI_pp0p0_di_msPEAOAz2JY_zA3r9TbMsVkb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Less: Provision for doubtful accounts</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">(121,322</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 style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pp0p0_mtPEAOAz2JY_zjI9FmtJebK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">172,019</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">296,370</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Movements of allowance for doubtful accounts are as follows: SCHEDULE OF CHANGES IN ALLOWANCE FOR DOUBTFUL ACCOUNTS <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the Three Months Ended September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the Nine Months Ended September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the Year End December, 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_ecustom--AllowanceForPrepaymentsAndDeposits_iS_pp0p0_c20210701__20210930_zmUJceGrKTFl" style="width: 14%; text-align: right" title="Beginning balance">121,622</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_ecustom--AllowanceForPrepaymentsAndDeposits_iS_pp0p0_c20210101__20210930_zTFNgNrF1pAj" style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_ecustom--AllowanceForPrepaymentsAndDeposits_iS_pp0p0_c20200101__20201231_zsiuk1Fqkpwa" style="width: 14%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 9pt">Addition</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--AllowanceForPrepaymentsAndDepositsAddition_c20210701__20210930_pp0p0" style="text-align: right" title="Addition">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--AllowanceForPrepaymentsAndDepositsAddition_c20210101__20210930_pp0p0" style="text-align: right" title="Addition">121,598</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--AllowanceForPrepaymentsAndDepositsAddition_c20200101__20201231_pdp0" style="text-align: right" title="Addition">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Write off</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--AllowanceForPrepaymentsAndDepositsWriteOffs_c20210701__20210930_pdp0" style="text-align: right" title="Write off">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--AllowanceForPrepaymentsAndDepositsWriteOffs_c20210101__20210930_pdp0" style="text-align: right" title="Write off">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--AllowanceForPrepaymentsAndDepositsWriteOffs_c20200101__20201231_pdp0" style="text-align: right" title="Write off">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Exchange rate effect</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_ecustom--AllowanceForPrepaymentsAndDepositsExchangeRateEffect_pp0p0_c20210701__20210930_z82UeV2jSD3h" style="border-bottom: Black 1.5pt solid; text-align: right" title="Exchange rate effect">(300</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_989_ecustom--AllowanceForPrepaymentsAndDepositsExchangeRateEffect_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Exchange rate effect">(276</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_98B_ecustom--AllowanceForPrepaymentsAndDepositsExchangeRateEffect_c20200101__20201231_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Exchange rate effect">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_ecustom--AllowanceForPrepaymentsAndDeposits_iE_pp0p0_c20210701__20210930_zVia9soCvndf" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">121,322</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">$</td><td id="xdx_98F_ecustom--AllowanceForPrepaymentsAndDeposits_iE_pp0p0_c20210101__20210930_zH9gYZ0J9K2g" style="border-bottom: Black 2.5pt double; text-align: right">121,322</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_ecustom--AllowanceForPrepaymentsAndDeposits_iE_pp0p0_c20200101__20201231_zjCEVP909LZ9" style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SCHEDULE OF PREPAID EXPENSES AND DEPOSITS <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20210930_zv5Wk0Vku2sd" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20201231_zGwZAglkSgjc" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_ecustom--ReceivablesFromSalesDistributors_iI_pp0p0_maPADGz7Zc_zGTVKYj9EAZh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Receivables from sales distributors</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">32,580</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">35,302</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DepositsToSupplier_iI_pp0p0_maPADGz7Zc_z1s7Ev6iEnV1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Deposits to suppliers</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">260,761</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 style="border-bottom: Black 1.5pt solid; text-align: right">261,068</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PrepaymentsAndDepositsGross_iTI_pp0p0_mtPADGz7Zc_maPEAOAz2JY_z6FyeyYNGz4f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">293,341</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">296,370</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--AllowanceForPrepaymentsAndDeposits_iNI_pp0p0_di_msPEAOAz2JY_zA3r9TbMsVkb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Less: Provision for doubtful accounts</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">(121,322</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 style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pp0p0_mtPEAOAz2JY_zjI9FmtJebK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">172,019</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">296,370</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 32580 35302 260761 261068 293341 296370 121322

172019

296370

Movements of allowance for doubtful accounts are as follows: SCHEDULE OF CHANGES IN ALLOWANCE FOR DOUBTFUL ACCOUNTS <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the Three Months Ended September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the Nine Months Ended September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the Year End December, 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_ecustom--AllowanceForPrepaymentsAndDeposits_iS_pp0p0_c20210701__20210930_zmUJceGrKTFl" style="width: 14%; text-align: right" title="Beginning balance">121,622</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_ecustom--AllowanceForPrepaymentsAndDeposits_iS_pp0p0_c20210101__20210930_zTFNgNrF1pAj" style="width: 14%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_ecustom--AllowanceForPrepaymentsAndDeposits_iS_pp0p0_c20200101__20201231_zsiuk1Fqkpwa" style="width: 14%; text-align: right"> -</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 9pt">Addition</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--AllowanceForPrepaymentsAndDepositsAddition_c20210701__20210930_pp0p0" style="text-align: right" title="Addition">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--AllowanceForPrepaymentsAndDepositsAddition_c20210101__20210930_pp0p0" style="text-align: right" title="Addition">121,598</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--AllowanceForPrepaymentsAndDepositsAddition_c20200101__20201231_pdp0" style="text-align: right" title="Addition">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 9pt">Write off</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--AllowanceForPrepaymentsAndDepositsWriteOffs_c20210701__20210930_pdp0" style="text-align: right" title="Write off">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--AllowanceForPrepaymentsAndDepositsWriteOffs_c20210101__20210930_pdp0" style="text-align: right" title="Write off">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--AllowanceForPrepaymentsAndDepositsWriteOffs_c20200101__20201231_pdp0" style="text-align: right" title="Write off">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 9pt">Exchange rate effect</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_982_ecustom--AllowanceForPrepaymentsAndDepositsExchangeRateEffect_pp0p0_c20210701__20210930_z82UeV2jSD3h" style="border-bottom: Black 1.5pt solid; text-align: right" title="Exchange rate effect">(300</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_989_ecustom--AllowanceForPrepaymentsAndDepositsExchangeRateEffect_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Exchange rate effect">(276</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_98B_ecustom--AllowanceForPrepaymentsAndDepositsExchangeRateEffect_c20200101__20201231_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Exchange rate effect">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_ecustom--AllowanceForPrepaymentsAndDeposits_iE_pp0p0_c20210701__20210930_zVia9soCvndf" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">121,322</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">$</td><td id="xdx_98F_ecustom--AllowanceForPrepaymentsAndDeposits_iE_pp0p0_c20210101__20210930_zH9gYZ0J9K2g" style="border-bottom: Black 2.5pt double; text-align: right">121,322</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_ecustom--AllowanceForPrepaymentsAndDeposits_iE_pp0p0_c20200101__20201231_zjCEVP909LZ9" style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 121622 121598 -300 -276 121322 121322

9. PROPERTY AND EQUIPMENT, NET Property and equipment, net consist of the following: SCHEDULE OF PROPERTY AND EQUIPMENT, NET <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Computer and office equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerAndOfficeEquipmentMember_pp0p0" style="width: 14%; text-align: right" title="Subtotal">82,062</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_c20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerAndOfficeEquipmentMember_pp0p0" style="width: 14%; text-align: right" title="Subtotal">81,437</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Furniture & fixtures</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Subtotal">121,835</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_c20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Subtotal">126,966</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_pp0p0" style="text-align: right" title="Subtotal">201,989</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_c20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_pp0p0" style="text-align: right" title="Subtotal">210,496</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Vehicle</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VehicleMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Subtotal">98,419</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_980_eus-gaap--PropertyPlantAndEquipmentGross_c20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VehicleMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Subtotal">102,564</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Subtotal</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_c20210930_pp0p0" style="text-align: right" title="Subtotal">504,305</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_c20201231_pp0p0" style="text-align: right" title="Subtotal">521,463</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Less: accumulated depreciation</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--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20210930_zicenKoYA5ec" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: accumulated depreciation">(270,296</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_985_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20201231_zBiyFhXkvaW5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: accumulated depreciation">(223,154</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentNet_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">234,009</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentNet_c20201231_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">298,309</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Depreciation expense for the three months ended September 30, 2021 and 2020 amounted to $18,740 and $18,808, respectively. Depreciation expense for the nine months ended September 30, 2021 and 2020 amounted to $56,919 and $36,524, respectively. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares)

Property and equipment, net consist of the following: SCHEDULE OF PROPERTY AND EQUIPMENT, NET <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Computer and office equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerAndOfficeEquipmentMember_pp0p0" style="width: 14%; text-align: right" title="Subtotal">82,062</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_c20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerAndOfficeEquipmentMember_pp0p0" style="width: 14%; text-align: right" title="Subtotal">81,437</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Furniture & fixtures</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Subtotal">121,835</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_c20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Subtotal">126,966</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_pp0p0" style="text-align: right" title="Subtotal">201,989</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_c20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_pp0p0" style="text-align: right" title="Subtotal">210,496</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Vehicle</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_c20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VehicleMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Subtotal">98,419</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_980_eus-gaap--PropertyPlantAndEquipmentGross_c20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VehicleMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Subtotal">102,564</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Subtotal</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--PropertyPlantAndEquipmentGross_c20210930_pp0p0" style="text-align: right" title="Subtotal">504,305</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_c20201231_pp0p0" style="text-align: right" title="Subtotal">521,463</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Less: accumulated depreciation</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--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20210930_zicenKoYA5ec" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: accumulated depreciation">(270,296</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_985_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20201231_zBiyFhXkvaW5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: accumulated depreciation">(223,154</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentNet_c20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">234,009</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentNet_c20201231_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">298,309</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

82062

81437

121835

126966

201989

210496

98419

102564

504305

521463

270296

223154

234009

298309

18740

18808

56919

36524

10. INTANGIBLE ASSETS, NET Intangible assets, net, consist of the following: SCHEDULE OF INTANGIBLE ASSETS, NET <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20210930_z6OH7dWBqqc2" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20201231_z543fN90zMwk" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr id="xdx_404_eus-gaap--CapitalizedComputerSoftwareGross_iI_pp0p0_maFLIANzGbc_zSrgzSaa9DX5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify; text-indent: -19.8pt; padding-left: 19.8pt">Computer software</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">34,355</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">35,801</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pp0p0_di_msFLIANzGbc_z1lcltfKcTAc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -19.8pt; padding-left: 19.8pt">Less: accumulated amortization</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">(30,227</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 style="border-bottom: Black 1.5pt solid; text-align: right">(29,975</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pp0p0_mtFLIANzGbc_zcZPH1Ke3Xm7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,128</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,826</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Amortization expense for the three months ended September 30, 2021 and 2020 amounted to $476 and $511, respectively. Amortization expense for the nine months ended September 30, 2021 and 2020 amounted to $1,482 and $993, respectively.

Intangible assets, net, consist of the following: SCHEDULE OF INTANGIBLE ASSETS, NET <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20210930_z6OH7dWBqqc2" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20201231_z543fN90zMwk" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="text-align: center"> </td><td style="text-align: center"> </td></tr> <tr id="xdx_404_eus-gaap--CapitalizedComputerSoftwareGross_iI_pp0p0_maFLIANzGbc_zSrgzSaa9DX5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify; text-indent: -19.8pt; padding-left: 19.8pt">Computer software</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">34,355</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">35,801</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pp0p0_di_msFLIANzGbc_z1lcltfKcTAc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -19.8pt; padding-left: 19.8pt">Less: accumulated amortization</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">(30,227</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 style="border-bottom: Black 1.5pt solid; text-align: right">(29,975</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pp0p0_mtFLIANzGbc_zcZPH1Ke3Xm7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,128</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,826</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

34355

35801

30227

29975

4128

5826

476

511

1482

993

11. INVESTMENT IN MARKETABLE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.3in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.3in; text-align: justify">(i)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On May 17, 2018, the Company purchased 83,333 shares of common stock in Greenpro Capital Corp. for $500,000 at a purchase price of $6 per share.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(ii)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On July 30, 2018, the Company disposed 20 shares of common stock in Greenpro Capital Corp. for $125 at a purchase price of $6.2613 per share.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(iii)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On October 16, 2018, the Company purchased 33,333 shares of common stock in Greenpro Capital Corp. for $1,000 at a purchase price of $0.03 per share.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(iv)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On November 3, 2020, the Company received dividend of 6,667 shares of common stock in DSwiss Inc. for $76,671 at fair value of $11.50 per share from Greenpro Capital Corp as a result of its Spin-off of DSwiss Inc.’s shares.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(v)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">On December 9, 2020, the Company received dividend of 16,663 shares of common stock in DSwiss Inc. for $83,315 at fair value of $5 per share from Greenpro Capital Corp as a result of its Spin-off of DSwiss Inc.’s shares.</td></tr> </table> SCHEDULE OF INVESTMENT IN MARKETABLE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20210930_zJ3UNmBfu3Pi" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20201231_zwKb8oNbFtZ8" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40A_eus-gaap--InvestmentOwnedAtCost_iI_pp0p0_maMSNzd9C_zLdriI5mN0li" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Cost of investment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">577,035</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: 14%; text-align: right">66,484</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--InvestmentsIncomeDividend_iNI_pp0p0_di_msMSNzd9C_zebIczSV6Kgh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Dividend income from Greenpro Capital Corp.</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">160,062</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--MarketableSecuritiesUnrealizedHoldingGainLoss_iNI_pp0p0_di_msMSNzd9C_zGbZUKd4jN49" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Unrealized holding (loss) gain</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(374,900</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">350,137</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ExchangeRateEffectOnInvestmentInMarketableSecurites_iI_pp0p0_maMSNzd9C_zdratxykIuU" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Exchange rate effect</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">(1,491</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 style="border-bottom: Black 1.5pt solid; text-align: right">352</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--MarketableSecuritiesNoncurrent_iTI_pp0p0_mtMSNzd9C_zgoEQQFh879k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Investment in marketable securities</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">200,644</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 style="border-bottom: Black 2.5pt double; text-align: right">577,035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

83333

500000

125

6.2613

33333

1000

0.03

6667

76671

11.50

16663

83315

SCHEDULE OF INVESTMENT IN MARKETABLE SECURITIES <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20210930_zJ3UNmBfu3Pi" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20201231_zwKb8oNbFtZ8" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40A_eus-gaap--InvestmentOwnedAtCost_iI_pp0p0_maMSNzd9C_zLdriI5mN0li" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Cost of investment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">577,035</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">66,484</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_ecustom--InvestmentsIncomeDividend_iNI_pp0p0_di_msMSNzd9C_zebIczSV6Kgh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Dividend income from Greenpro Capital Corp.</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">160,062</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--MarketableSecuritiesUnrealizedHoldingGainLoss_iNI_pp0p0_di_msMSNzd9C_zGbZUKd4jN49" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Unrealized holding (loss) gain</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(374,900</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">350,137</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ExchangeRateEffectOnInvestmentInMarketableSecurites_iI_pp0p0_maMSNzd9C_zdratxykIuU" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Exchange rate effect</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">(1,491</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 style="border-bottom: Black 1.5pt solid; text-align: right">352</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--MarketableSecuritiesNoncurrent_iTI_pp0p0_mtMSNzd9C_zgoEQQFh879k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Investment in marketable securities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">200,644</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">577,035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

577035

66484

-160062 374900 -350137 -1491 352

200644

577035

12. INVESTMENT IN NON-MARKETABLE SECURITIES The Company invested in Unreserved Sdn Bhd with the investment amount of $863,592 (RM 3,500,000), which approximated 20% of the equity interest of Unreserved Sdn Bhd and is accounted for under the equity method of accounting. On March 10, 2019, Unreserved Sdn Bhd issued additional common stock for working capital. As the Company did not subscribe for the additional common stock, the Company’s equity interest in investee company was diluted from approximately 20.0% to approximately 17.86%. Effective from March 10, 2019, the Company discontinued equity accounting on the investee company. The Company also ceased control over the operations of the investee company on the same date. Accordingly, the investment in investee company was reclassified to investment in non-marketable securities. Unreserved Sdn Bhd was incorporated in Malaysia with 2,500,000 ordinary shares authorized, issued and outstanding. Mr. Lim Hun Soon @ David Lim and Ms. Aniza Helina Akmi Karim are the directors of Unreserved Sdn Bhd. Mr. How Kok Choong was a director of the company from April 30, 2018 to March 27, 2019. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 12. INVESTMENT IN NON-MARKETABLE SECURITIES (Continued) On March 3, 2020, the Company agreed to sell the 17.86% ownership interest in Unreserved Sdn Bhd at the December 31, 2019 carrying value of $730,637 to Mr. How Kok Choong, the CEO and director of the Company. The Company received proceeds of $70,173, and had an amount due from director of $660,464 at March 31, 2020. In May 2020, the entire outstanding balance was settled as part of the consideration in a transaction which the Company had acquired the CEO’s ownership interest of Agape Superior Living Sdn. Bhd. On April 3, 2019, the Company purchased a 5% of stock or <span id="xdx_901_eus-gaap--InvestmentOwnedBalanceShares_iI_pid_c20190403__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__dei--LegalEntityAxis__custom--PhoenixPlusCorpMember_zwpIvIJ69QEa" title="Shares purchased during period">15,000,000 shares of common stock in Phoenix Plus Corp. for $1,500 at purchase price of $0.0001 per share. SCHEDULE OF INVESTMENT IN NON MARKETABLE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: left">Unreserved Sdn Bhd</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Investment in non-marketable securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_ecustom--InvestmentInNonMarketableSecuritiesGross_c20210930__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pdp0" style="width: 14%; text-align: right" title="Investment in non-marketable securities">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_ecustom--InvestmentInNonMarketableSecuritiesGross_c20201231__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pp0p0" style="width: 14%; text-align: right" title="Investment in non-marketable securities">730,637</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic; text-align: justify; padding-bottom: 1.5pt">Less: Sale of investment in non-marketable securities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_ecustom--SaleOfInvestmentInNonmarketableSecurities_c20210930__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Sale of investment in non-marketable securities">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_ecustom--SaleOfInvestmentInNonmarketableSecurities_c20201231__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Sale of investment in non-marketable securities">(730,637</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Investment in non-marketable securities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_987_ecustom--InvestmentInNonmarketableSecuritiesNet_c20210930__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Investment in non-marketable securities">-</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">$</td><td id="xdx_98C_ecustom--InvestmentInNonmarketableSecuritiesNet_c20201231__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Investment in non-marketable securities">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 1.5pt solid; text-align: justify">Phoenix Plus Corporation</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Cost of investment</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_988_eus-gaap--InvestmentOwnedAtCost_c20210930__dei--LegalEntityAxis__custom--PhoenixPlusCorpMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost of investment">1,500</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">$</td><td id="xdx_98E_eus-gaap--InvestmentOwnedAtCost_c20201231__dei--LegalEntityAxis__custom--PhoenixPlusCorpMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost of investment">1,500</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_ecustom--InvestmentInNonMarketableSecuritiesNoncurrent_c20210930__dei--LegalEntityAxis__custom--PhoenixPlusCorpMember_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total investment in non-marketable securities">1,500</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_98F_ecustom--InvestmentInNonMarketableSecuritiesNoncurrent_c20201231__dei--LegalEntityAxis__custom--PhoenixPlusCorpMember_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total investment in non-marketable securities">1,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

863592

3500000

0.20

0.200

0.1786

2500000

0.1786

730637

70173

660464

0.05

15000000

1500

0.0001

SCHEDULE OF INVESTMENT IN NON MARKETABLE SECURITIES <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; text-align: left">Unreserved Sdn Bhd</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Investment in non-marketable securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_ecustom--InvestmentInNonMarketableSecuritiesGross_c20210930__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pdp0" style="width: 14%; text-align: right" title="Investment in non-marketable securities">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_ecustom--InvestmentInNonMarketableSecuritiesGross_c20201231__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pp0p0" style="width: 14%; text-align: right" title="Investment in non-marketable securities">730,637</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic; text-align: justify; padding-bottom: 1.5pt">Less: Sale of investment in non-marketable securities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_ecustom--SaleOfInvestmentInNonmarketableSecurities_c20210930__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Sale of investment in non-marketable securities">-</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_98D_ecustom--SaleOfInvestmentInNonmarketableSecurities_c20201231__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Sale of investment in non-marketable securities">(730,637</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Investment in non-marketable securities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_987_ecustom--InvestmentInNonmarketableSecuritiesNet_c20210930__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Investment in non-marketable securities">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98C_ecustom--InvestmentInNonmarketableSecuritiesNet_c20201231__srt--TitleOfIndividualAxis__custom--DirectorsOfUnreservedInvestmentMember_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Investment in non-marketable securities">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </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="border-bottom: Black 1.5pt solid; text-align: justify">Phoenix Plus Corporation</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Cost of investment</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_988_eus-gaap--InvestmentOwnedAtCost_c20210930__dei--LegalEntityAxis__custom--PhoenixPlusCorpMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost of investment">1,500</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98E_eus-gaap--InvestmentOwnedAtCost_c20201231__dei--LegalEntityAxis__custom--PhoenixPlusCorpMember_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Cost of investment">1,500</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </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: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_ecustom--InvestmentInNonMarketableSecuritiesNoncurrent_c20210930__dei--LegalEntityAxis__custom--PhoenixPlusCorpMember_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total investment in non-marketable securities">1,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_ecustom--InvestmentInNonMarketableSecuritiesNoncurrent_c20201231__dei--LegalEntityAxis__custom--PhoenixPlusCorpMember_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Total investment in non-marketable securities">1,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 730637 -730637

1500

1500 1500

13. OTHER PAYABLES AND ACCRUED LIABILITIES SCHEDULE OF OTHER PAYABLES AND ACCRUED LIABILITIES <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20210930_zurpXjwaV4K" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20201231_zmqCLiND6yPe" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40A_eus-gaap--AccruedProfessionalFeesCurrent_iI_pp0p0_maOAPAAzMZF_zUlAAqA2Cgea" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">166,980</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">297,636</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AccruedPromotionExpenses_iI_pp0p0_maOAPAAzMZF_zieeM53byFN4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Promotion expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,921</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,433</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedPayrollTaxesCurrent_iI_pp0p0_maOAPAAzMZF_zHKFECaGNnpf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Payroll</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,976</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedSalesCommissionCurrent_iI_pp0p0_maOAPAAzMZF_zmwqWQUSqyfh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Commissions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">229,022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">224,711</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsPayableAndOtherAccruedLiabilities_iI_pp0p0_maOAPAAzMZF_z8pgcbpZ5J65" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Others</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">53,873</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 style="border-bottom: Black 1.5pt solid; text-align: right">63,921</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--OtherAccountPayableAndAccruedLiabilities_iTI_pp0p0_mtOAPAAzMZF_zzfXuGJLtYOa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">508,125</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">647,677</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares)

SCHEDULE OF OTHER PAYABLES AND ACCRUED LIABILITIES <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20210930_zurpXjwaV4K" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20201231_zmqCLiND6yPe" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40A_eus-gaap--AccruedProfessionalFeesCurrent_iI_pp0p0_maOAPAAzMZF_zUlAAqA2Cgea" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify">Professional fees</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">166,980</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">297,636</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AccruedPromotionExpenses_iI_pp0p0_maOAPAAzMZF_zieeM53byFN4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Promotion expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,921</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37,433</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedPayrollTaxesCurrent_iI_pp0p0_maOAPAAzMZF_zHKFECaGNnpf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Payroll</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23,976</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedSalesCommissionCurrent_iI_pp0p0_maOAPAAzMZF_zmwqWQUSqyfh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Commissions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">229,022</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">224,711</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsPayableAndOtherAccruedLiabilities_iI_pp0p0_maOAPAAzMZF_z8pgcbpZ5J65" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Others</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">53,873</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 style="border-bottom: Black 1.5pt solid; text-align: right">63,921</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--OtherAccountPayableAndAccruedLiabilities_iTI_pp0p0_mtOAPAAzMZF_zzfXuGJLtYOa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">508,125</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">647,677</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

166980

297636

35921 37433

22329

23976

229022

224711

53873

63921

508125 647677

14. RELATED PARTY BALANCES AND TRANSACTIONS Related party balances Amount due from related parties SCHEDULE OF RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Name of Related Party</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Relationship</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nature</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="padding-bottom: 1.5pt"> </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">As of December 31, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 23%; text-align: left">Agape ATP (Asia) Limited (“AATP Asia”)</td><td style="width: 1%"> </td> <td style="width: 22%; text-align: center">Mr. How Kok Choong, the CEO and director of the Company is also the sole shareholder and director of AATP Asia</td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 15%; text-align: center">Expenses paid for AATP Asia</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--DueFromRelatedParties_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeATPAsiaLimitedMember_pp0p0" style="width: 16%; text-align: right" title="Amount due from related parties">2,218</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,227</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left">Hostastay Sdn. Bhd.</td><td> </td> <td style="text-align: center">Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay</td><td> </td> <td style="vertical-align: top; text-align: center">Sublease rent due from Hostastay</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdMember_z1oZDxgkBfa3" style="text-align: right">4,777</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdMember_zMM4d4E3U0u1" style="text-align: right">996</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Redboy Pictures Sdn Bhd</td><td> </td> <td style="text-align: center">Mr. How Kok Choong, the CEO and director of the Company is also the director of Redboy Pictures Sdn Bhd</td><td> </td> <td style="vertical-align: top; text-align: center">Expenses paid for Redboy Pictures Sdn Bhd</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RedboyPicturesSdnBhdMember_zwFjpDcg3t2k" style="text-align: right">4,152</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RedboyPicturesSdnBhdMember_zydTrLs4mbZd" style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">TH3 Technology Sdn Bhd</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Mr. How Kok Choong, the CEO and director of the Company is also the director of TH3 Technology</td><td style="padding-bottom: 1.5pt"> </td> <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">Expenses paid for TH3 Technology</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--THThreeTechnologySdnBhdMember_zoA0XMnpaoWj" style="border-bottom: Black 1.5pt solid; text-align: right">-</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_982_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--THThreeTechnologySdnBhdMember_ztAyXF5ufNSi" style="border-bottom: Black 1.5pt solid; text-align: right">12</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,235</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Amount due to a Related Party <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Name of Related Party</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Relationship</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Nature</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">As of September 30, 2021</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">As of December 31, 2020</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 23%; padding-bottom: 1.5pt">Agape Superior Living Pty Ltd</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 22%; padding-bottom: 1.5pt; text-align: center">Mr. How Kok Choong, the CEO and director of the Company </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 15%; padding-bottom: 1.5pt; text-align: center">ATP Printing label fees</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_987_eus-gaap--DueToRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingPtyLtdMember_z3cxzF1RqCA7" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right"> -</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_984_eus-gaap--DueToRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingPtyLtdMember_zNzVBR6FqwYl" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right">455</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_982_eus-gaap--DueToRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20210930_zrnha1UqQ3Fb" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_989_eus-gaap--DueToRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20201231_zy0KqKArHGm6" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">455</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td></tr> </table> AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 14. RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Name of Related Party</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Relationship</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Nature</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Nine Months Ended September 30, 2021</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Nine Months Ended September 30, 2020</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 23%; padding-bottom: 1.5pt">Agape Superior Living Pty Ltd (“ASLPL”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 22%; padding-bottom: 1.5pt; text-align: center">Mr. How Kok Choong, the CEO and director of the Company is a 51% shareholder and a director of ASLPL</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 15%; padding-bottom: 1.5pt; text-align: center">Sale of products</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_986_eus-gaap--RevenueFromRelatedParties_c20210101__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingPtyLtdASLPLMember_pdp0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Revenue"> -</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_988_eus-gaap--RevenueFromRelatedParties_c20200101__20200930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingPtyLtdASLPLMember_pp0p0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Revenue">13,654</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_989_eus-gaap--RevenueFromRelatedParties_c20210101__20210930_pdp0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_98D_eus-gaap--RevenueFromRelatedParties_c20200101__20200930_pp0p0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue">13,654</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td></tr> </table> Other Income <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Name of Related Party</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Relationship</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Nature</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Three Months Ended September 30, 2021</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Three Months Ended September 30, 2020</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 23%; padding-bottom: 1.5pt">Hostastay Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 22%; padding-bottom: 1.5pt; text-align: center">Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 15%; padding-bottom: 1.5pt; text-align: center">Sublease rental income due from Hostastay</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_98D_eus-gaap--OtherIncome_c20210701__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdOneMember_pp0p0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Other income">1,428</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_98B_eus-gaap--OtherIncome_c20200701__20200930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdOneMember_pdp0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Other income">1,443</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_98F_eus-gaap--OtherIncome_c20210701__20210930_pp0p0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other income">1,428</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_989_eus-gaap--OtherIncome_c20200701__20200930_pdp0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other income">1,443</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Name of Related Party</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Relationship</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Nature</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Nine Months Ended September 30, 2021</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Nine Months Ended September 30, 2020</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 23%; padding-bottom: 1.5pt">Hostastay Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 22%; padding-bottom: 1.5pt; text-align: center">Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 15%; padding-bottom: 1.5pt; text-align: center">Sublease rental income due from Hostastay</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_987_eus-gaap--OtherIncome_c20210101__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdOneMember_pp0p0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Other income">4,357</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_985_eus-gaap--OtherIncome_c20200101__20200930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdOneMember_pdp0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Other income">1,443</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_985_eus-gaap--OtherIncome_c20210101__20210930_pp0p0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other income">4,357</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_987_eus-gaap--OtherIncome_c20200101__20200930_pdp0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other income">1,443</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td></tr> </table> AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares)

SCHEDULE OF RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Name of Related Party</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Relationship</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nature</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="padding-bottom: 1.5pt"> </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">As of December 31, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 23%; text-align: left">Agape ATP (Asia) Limited (“AATP Asia”)</td><td style="width: 1%"> </td> <td style="width: 22%; text-align: center">Mr. How Kok Choong, the CEO and director of the Company is also the sole shareholder and director of AATP Asia</td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 15%; text-align: center">Expenses paid for AATP Asia</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--DueFromRelatedParties_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeATPAsiaLimitedMember_pp0p0" style="width: 16%; text-align: right" title="Amount due from related parties">2,218</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,227</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left">Hostastay Sdn. Bhd.</td><td> </td> <td style="text-align: center">Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay</td><td> </td> <td style="vertical-align: top; text-align: center">Sublease rent due from Hostastay</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdMember_z1oZDxgkBfa3" style="text-align: right">4,777</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdMember_zMM4d4E3U0u1" style="text-align: right">996</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Redboy Pictures Sdn Bhd</td><td> </td> <td style="text-align: center">Mr. How Kok Choong, the CEO and director of the Company is also the director of Redboy Pictures Sdn Bhd</td><td> </td> <td style="vertical-align: top; text-align: center">Expenses paid for Redboy Pictures Sdn Bhd</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RedboyPicturesSdnBhdMember_zwFjpDcg3t2k" style="text-align: right">4,152</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RedboyPicturesSdnBhdMember_zydTrLs4mbZd" style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">TH3 Technology Sdn Bhd</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Mr. How Kok Choong, the CEO and director of the Company is also the director of TH3 Technology</td><td style="padding-bottom: 1.5pt"> </td> <td style="vertical-align: top; text-align: center; padding-bottom: 1.5pt">Expenses paid for TH3 Technology</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--THThreeTechnologySdnBhdMember_zoA0XMnpaoWj" style="border-bottom: Black 1.5pt solid; text-align: right">-</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_982_eus-gaap--DueFromRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--THThreeTechnologySdnBhdMember_ztAyXF5ufNSi" style="border-bottom: Black 1.5pt solid; text-align: right">12</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,235</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Amount due to a Related Party <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Name of Related Party</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Relationship</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Nature</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">As of September 30, 2021</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">As of December 31, 2020</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 23%; padding-bottom: 1.5pt">Agape Superior Living Pty Ltd</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 22%; padding-bottom: 1.5pt; text-align: center">Mr. How Kok Choong, the CEO and director of the Company </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 15%; padding-bottom: 1.5pt; text-align: center">ATP Printing label fees</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_987_eus-gaap--DueToRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingPtyLtdMember_z3cxzF1RqCA7" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right"> -</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_984_eus-gaap--DueToRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingPtyLtdMember_zNzVBR6FqwYl" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right">455</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_982_eus-gaap--DueToRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20210930_zrnha1UqQ3Fb" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_989_eus-gaap--DueToRelatedPartiesCurrentAndNoncurrent_iI_pp0p0_c20201231_zy0KqKArHGm6" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">455</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td></tr> </table> AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 14. RELATED PARTY BALANCES AND TRANSACTIONS (CONT’D) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Name of Related Party</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Relationship</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Nature</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Nine Months Ended September 30, 2021</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Nine Months Ended September 30, 2020</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 23%; padding-bottom: 1.5pt">Agape Superior Living Pty Ltd (“ASLPL”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 22%; padding-bottom: 1.5pt; text-align: center">Mr. How Kok Choong, the CEO and director of the Company is a 51% shareholder and a director of ASLPL</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 15%; padding-bottom: 1.5pt; text-align: center">Sale of products</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_986_eus-gaap--RevenueFromRelatedParties_c20210101__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingPtyLtdASLPLMember_pdp0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Revenue"> -</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_988_eus-gaap--RevenueFromRelatedParties_c20200101__20200930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AgapeSuperiorLivingPtyLtdASLPLMember_pp0p0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Revenue">13,654</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_989_eus-gaap--RevenueFromRelatedParties_c20210101__20210930_pdp0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue">-</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_98D_eus-gaap--RevenueFromRelatedParties_c20200101__20200930_pp0p0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue">13,654</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td></tr> </table> Other Income <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Name of Related Party</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Relationship</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Nature</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Three Months Ended September 30, 2021</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Three Months Ended September 30, 2020</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 23%; padding-bottom: 1.5pt">Hostastay Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 22%; padding-bottom: 1.5pt; text-align: center">Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 15%; padding-bottom: 1.5pt; text-align: center">Sublease rental income due from Hostastay</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_98D_eus-gaap--OtherIncome_c20210701__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdOneMember_pp0p0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Other income">1,428</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_98B_eus-gaap--OtherIncome_c20200701__20200930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdOneMember_pdp0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Other income">1,443</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_98F_eus-gaap--OtherIncome_c20210701__20210930_pp0p0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other income">1,428</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_989_eus-gaap--OtherIncome_c20200701__20200930_pdp0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other income">1,443</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Name of Related Party</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Relationship</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Nature</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Nine Months Ended September 30, 2021</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Nine Months Ended September 30, 2020</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: top; width: 23%; padding-bottom: 1.5pt">Hostastay Sdn. Bhd.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 22%; padding-bottom: 1.5pt; text-align: center">Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 15%; padding-bottom: 1.5pt; text-align: center">Sublease rental income due from Hostastay</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_987_eus-gaap--OtherIncome_c20210101__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdOneMember_pp0p0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Other income">4,357</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%">$</td> <td id="xdx_985_eus-gaap--OtherIncome_c20200101__20200930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HostastaySdnBhdOneMember_pdp0" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 16%; text-align: right" title="Other income">1,443</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; vertical-align: bottom; width: 1%; padding-bottom: 1.5pt"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_985_eus-gaap--OtherIncome_c20210101__20210930_pp0p0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other income">4,357</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: justify">$</td> <td id="xdx_987_eus-gaap--OtherIncome_c20200101__20200930_pdp0" style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Other income">1,443</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt"> </td></tr> </table>

Mr. How Kok Choong, the CEO and director of the Company is also the sole shareholder and director of AATP Asia Mr. How Kok Choong, the CEO and director of the Company is also the sole shareholder and director of AATP Asia Expenses paid for AATP Asia Expenses paid for AATP Asia

2218

2227

Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay Sublease rent due from Hostastay Sublease rent due from Hostastay

4777

996

Mr. How Kok Choong, the CEO and director of the Company is also the director of Redboy Pictures Sdn Bhd Mr. How Kok Choong, the CEO and director of the Company is also the director of Redboy Pictures Sdn Bhd Expenses paid for Redboy Pictures Sdn Bhd Expenses paid for Redboy Pictures Sdn Bhd

4152

Mr. How Kok Choong, the CEO and director of the Company is also the director of TH3 Technology Mr. How Kok Choong, the CEO and director of the Company is also the director of TH3 Technology Expenses paid for TH3 Technology Expenses paid for TH3 Technology

Mr. How Kok Choong, the CEO and director of the Company Mr. How Kok Choong, the CEO and director of the Company ATP Printing label fees ATP Printing label fees

455

Mr. How Kok Choong, the CEO and director of the Company is a 51% shareholder and a director of ASLPL Mr. How Kok Choong, the CEO and director of the Company is a 51% shareholder and a director of ASLPL Sale of products Sale of products

13654

Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay Sublease rental income due from Hostastay Sublease rental income due from Hostastay

1428

1443

1428

1443

Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay Mr. How Kok Choong, the CEO and director of the Company is also the director of Hostastay Sublease rental income due from Hostastay Sublease rental income due from Hostastay

4357

1443

4357

1443

15. STOCKHOLDERS’ EQUITY Preferred stock As of September 30, 2021 and December 31, 2020, there were 200,000,000 preferred stocks authorized but none were issued and outstanding. Common stock As of September 30, 2021 and December 31, 2020, there were 1,000,000,000 common stocks authorized and 376,452,047 shares issued and outstanding. In May 2020, the Company issued <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20200501__20200531__us-gaap--BusinessAcquisitionAxis__custom--AgapeSuperiorLivingMember_zfk2YvfGe0Ob" title="Stock issued during period acquisitions, shares">162,694 shares of the Company’s common stock in connection with the acquisition of ASL as part of the acquisition payment. In June 2020, ASL made certain adjustments to its March 31, 2020 financial statements. As a result, the net assets carrying value increased by $<span id="xdx_903_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_iI_pp0p0_c20210630__us-gaap--BusinessAcquisitionAxis__custom--AgapeSuperiorLivingMember_zeAPyq0vfsu1" title="Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets">90,043, which required the issuance of an additional <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20210101__20210630__us-gaap--BusinessAcquisitionAxis__custom--AgapeSuperiorLivingMember_z6kTB55YmQt6" title="Stock issued during period acquisitions, shares">13,853 shares of the Company’s common stock to fully satisfy the acquisition payment for ASL to Mr. How Kok Choong, CEO and director of the Company. The <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20200629__20200731__us-gaap--BusinessAcquisitionAxis__custom--AgapeSuperiorLivingMember_zkUThsbCs4a2" title="Stock issued during period acquisitions, shares">13,853 additional shares were issued in July 2020. There were no stock options, warrants or other potentially dilutive securities outstanding as of September 30, 2021 and December 31, 2020. Non-controlling interest As of September 30, 2021 and for the three and nine months ended September 30, 2021, no material transactions of non-controlling interest occurred from the operating results from ASL as the Company holds approximately <span id="xdx_905_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20210930__us-gaap--BusinessAcquisitionAxis__custom--AgapeSuperiorLivingMember_zF6lq8EHRpt7" title="Business acquisition percentage of voting interests">99.99% of the equity interest in ASL, non-controlling interests that present in ASL is $<span id="xdx_90C_eus-gaap--NoncontrollingInterestIncreaseFromBusinessCombination_pp0p0_c20210101__20210930__us-gaap--BusinessAcquisitionAxis__custom--AgapeSuperiorLivingMember_ziuzgpDedM3d" title="Non controlling interests">0 and therefore not presented separately in the accompanying unaudited condensed consolidated financial statements.

200000000

1000000000

376452047

162694

90043

13853

0.9999

16. INCOME TAXES The United States and foreign components of income (loss) before income taxes were comprised of the following: SCHEDULE OF COMPONENTS OF INCOME/(LOSS) BEFORE INCOME TAX <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; 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="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Tax jurisdictions from:</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><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: 28%; text-align: justify">Local – United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20210701__20210930_pp0p0" style="width: 14%; text-align: right" title="Local">(117,272</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20200701__20200930_pp0p0" style="width: 14%; text-align: right" title="Local">(96,606</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20210101__20210930_pp0p0" style="width: 14%; text-align: right" title="Local">(321,567</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20200101__20200930_pp0p0" style="width: 14%; text-align: right" title="Local">(400,776</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: justify">Foreign – Malaysia</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20210701__20210930__srt--StatementGeographicalAxis__country--MY_pp0p0" style="text-align: right" title="Foreign">(257,590</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20200701__20200930__srt--StatementGeographicalAxis__country--MY_pp0p0" style="text-align: right" title="Foreign">719,561</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20210101__20210930__srt--StatementGeographicalAxis__country--MY_pp0p0" style="text-align: right" title="Foreign">(727,265</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pp0p0_c20200101__20200930__srt--StatementGeographicalAxis__country--MY_zKHiiRLxyD53" style="text-align: right" title="Foreign">1,033,341</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Foreign – Hong Kong</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20210701__20210930__srt--StatementGeographicalAxis__country--HK_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(210,946</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_984_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20200701__20200930__srt--StatementGeographicalAxis__country--HK_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(149,977</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_988_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20210101__20210930__srt--StatementGeographicalAxis__country--HK_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(502,760</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_98E_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20200101__20200930__srt--StatementGeographicalAxis__country--HK_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(170,030</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">(Loss) income before income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c20210701__20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before income tax">(585,808</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c20200701__20200930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before income tax">472,978</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">$</td><td id="xdx_98F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c20210101__20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before income tax">(1,551,592</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c20200101__20200930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before income tax">462,535</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 16. INCOME TAXES (Continued) The benefit of (provision for) income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAX <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Current:</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><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: 28%; text-align: justify">- Local</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_c20210701__20210930_pp0p0" style="width: 14%; text-align: right" title="- Local">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_c20200701__20200930_pdp0" style="width: 14%; text-align: right" title="- Local">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_c20210101__20210930_pp0p0" style="width: 14%; text-align: right" title="- Local">(22,205</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_c20200101__20200930_pdp0" style="width: 14%; text-align: right" title="- Local">-</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: justify">- Foreign</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--CurrentForeignTaxExpenseBenefit_c20210701__20210930_pp0p0" style="text-align: right" title="- Foreign">(63,792</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--CurrentForeignTaxExpenseBenefit_c20200701__20200930_pdp0" style="text-align: right" title="- Foreign">(20,381</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--CurrentForeignTaxExpenseBenefit_c20210101__20210930_pp0p0" style="text-align: right" title="- Foreign">(104,977</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--CurrentForeignTaxExpenseBenefit_c20200101__20200930_pdp0" style="text-align: right" title="- Foreign">(20,381</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </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><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: justify">Deferred:</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><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: justify">- Local</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_c20210701__20210930_pdp0" style="text-align: right" title="- Local">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_c20200701__20200930_pdp0" style="text-align: right" title="- Local">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_c20210101__20210930_pdp0" style="text-align: right" title="- Local">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_c20200101__20200930_pdp0" style="text-align: right" title="- Local">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">- Foreign</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_c20210701__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="- Foreign">78,335</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_98E_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_c20200701__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="- Foreign">(37,560</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_981_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="- Foreign">131,634</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_987_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_c20200101__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="- Foreign">(171,627</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Benefit of (provision for) income tax</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--OtherIncomeTaxExpenseBenefitContinuingOperations_c20210701__20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Benefit of (provision for) income tax">14,543</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">$</td><td id="xdx_98F_eus-gaap--OtherIncomeTaxExpenseBenefitContinuingOperations_c20200701__20200930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Benefit of (provision for) income tax">(57,941</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--OtherIncomeTaxExpenseBenefitContinuingOperations_c20210101__20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Benefit of (provision for) income tax">4,452</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--OtherIncomeTaxExpenseBenefitContinuingOperations_c20200101__20200930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Benefit of (provision for) income tax">(192,008</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The Company and its subsidiary that operate in various countries: United States, Malaysia (including Labuan) and Hong Kong that are subject to taxes in the jurisdictions in which they operate, as follows: United States of America Agape ATP Corporation was incorporated in the State of Nevada and is subject to the tax laws of the United States of America with a corporate tax rate of <span id="xdx_90B_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20210101__20210930__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zyxjNjRMgfi8" title="Tax percentage">21% on its taxable income. Agape ATP Corporation also subject to controlled foreign corporations Subpart F income (“Subpart F”) tax, which is a tax primarily on passive income from controlled foreign corporations with a tax rate of <span id="xdx_908_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20210101__20210930__us-gaap--IncomeTaxAuthorityAxis__us-gaap--ForeignCountryMember_zPb6Kl80ppEh" title="Tax percentage">35%. In addition, the Tax Cuts and Jobs Act imposed a global intangible low-taxed income (“GILTI”) tax, which is a tax on certain off-shore earnings at an effective rate of 10.5% for tax years (50% deduction of the current enacted tax rate of 21%) with a partial offset for 80% foreign tax credits. If the foreign tax rate is 13.125% or higher, there will be no U.S. corporate tax after the 80% foreign tax credits are applied. For the three and nine months ended September 30, 2021 and 2020, the Company’s foreign subsidiaries did not generate any income that are subject to Subpart F tax and GILTI tax. For the nine months ended September 30, 2021, the Company re-visited its fiscal 2020 U.S. income taxes and determined its stock dividend from Greenpro Capital Corp as a result of its Spin-off of DSwiss Inc.’s shares in 2020 were subject to Subpart F and GILTI taxes. As a result, the Company incurred additional income taxes expenses of $22,205, including interest and penalty of $395, for the nine months ended September 30, 2021, after utilizing its estimated cumulative net operating losses (“NOL”) of $312,608 as of December 31, 2020. As a result, the Company’s deferred tax assets of estimated NOL of $65,648 were fully utilized and reduced to $0. As of September 30, 2021 and December 31, 2020, the operations in the United States of America incurred approximately $344,000 and $0, respectively, of cumulative NOL which can be carried forward to offset future taxable income or Subpart F and GILTI taxes. These balances can be carried forward indefinitely. The deferred tax valuation allowance as of September 30, 2021 and December 31, 2020 were approximately $72,000 and $0, respectively. Malaysia Changes to the Labuan Business Activity Tax Act (LBATA) 1990 which was gazetted and came into operation on January 1, 2019 mandate companies incorporated in Labuan to satisfy the “substantial activity requirements” to qualify for the preferential tax rate of <span id="xdx_90A_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_dp_uPure_c20181228__20190102__srt--StatementGeographicalAxis__custom--LabuanMember_zXUtDaZbZVF7" title="Effective Income Tax Rate Reconciliation, Percent">3% on net audited profit. Subsequently, on April 29, 2020, a circular setting out revisions to the “substantial activity requirements” was issued. As Agape ATP Corporation did not maintain a permanent establishment in Labuan, and therefore did not satisfy the said requirements, the company was subjected to tax at <span id="xdx_90B_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20181228__20190102__srt--StatementGeographicalAxis__custom--LabuanMember_zHWoiLhxMSsi" title="Tax percentage">24% on its net audited profit. On June 11, 2021, Agape ATP Corporation made an irrevocable election to be taxed under the Malaysian Income Tax Act 1967 as the elected tax regime is more tax efficient to the entity compare to LBATA. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 16. INCOME TAXES (Continued) Agape Superior Living Sdn Bhd, Agape S.E.A Sdn Bhd and Wellness ATP International Holdings Sdn Bhd. are governed by the income tax laws of Malaysia and the income tax provision in respect of operations in Malaysia is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect thereof. Under the Income Tax Act of Malaysia, enterprises that incorporated in Malaysia are usually subject to a unified <span id="xdx_902_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20181228__20190102__srt--StatementGeographicalAxis__custom--LabuanMember_zytlGLUhWjg1" title="Tax percentage">24% enterprise income tax rate while preferential tax rates, tax holidays and even tax exemption may be granted on case-by-case basis. The tax rate for small and medium sized companies (generally companies incorporated in Malaysia with paid-in capital of RM 2,500,000 or less) is <span id="xdx_900_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20210101__20210930__srt--StatementGeographicalAxis__country--MY_zVN08ua0mVUh" title="Tax percentage">17% for the first RM 600,000 (or approximately $150,000) for the three and nine months ended September 30, 2021 and RM 500,000 (or approximately $125,000) income for the three and nine months ended September 30, 2020, with the remaining balance being taxed at the 24% rate. Hong Kong Agape ATP International Holding (HK) Limited is subject to Hong Kong Profits Tax, which is charged at the statutory income rate of <span id="xdx_907_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20210101__20210930__srt--StatementGeographicalAxis__country--HK_zCcH3MUGx0Gc" title="Tax percentage">16.5% on its assessable income derived from Hong Kong. Business income derived or business expenses incurred outside the Special Administrative Region is not subject to Hong Kong Profits Tax or deduction. The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of: SCHEDULE OF DEFERRED TAX ASSETS <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Deferred tax 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></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: justify; padding-left: 10pt">Net operating loss carry forwards in U.S.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_c20210930__srt--StatementGeographicalAxis__country--US_pp0p0" style="width: 14%; text-align: right" title="Net operating loss carry forwards">72,192</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_c20201231__srt--StatementGeographicalAxis__country--US_pdp0" style="width: 14%; text-align: right" title="Net operating loss carry forwards">-</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: justify; padding-left: 10pt">Net operating loss carry forwards in Malaysia</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsForeign_c20210930__srt--StatementGeographicalAxis__country--MY_pp0p0" style="text-align: right" title="Net operating loss carry forwards">152,553</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsForeign_c20201231__srt--StatementGeographicalAxis__country--MY_pp0p0" style="text-align: right" title="Net operating loss carry forwards">62,678</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Less: valuation allowance</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_c20210930_z2OKi9yy0nwl" style="text-align: right" title="Less: valuation allowance">(72,192</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pdp0_di_c20201231_zVwFETlaVY4d" style="text-align: right" title="Less: valuation allowance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Deferred tax 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 style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 10pt">Depreciation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_ecustom--DeferredTaxLiabilitiesDepreciation_iI_pdp0_c20210930_zJwnnGn0besh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Depreciation">(28,187</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_98A_ecustom--DeferredTaxLiabilitiesDepreciation_c20201231_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Depreciation">(68,421</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Deferred tax assets (liabilities), net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--DeferredTaxAssetsNet_iI_pp0p0_c20210930_zED2jsz9FD1e" style="border-bottom: Black 2.5pt double; text-align: right" title="Deferred tax asset, net">124,366</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_eus-gaap--DeferredIncomeTaxLiabilities_iNI_pp0p0_di_c20201231_zrQH2S7ERhvi" style="border-bottom: Black 2.5pt double; text-align: right" title="Deferred tax (liabilities), net">(5,743</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Uncertain tax positions The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of September 30, 2021 and December 31, 2020, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur interest and penalties tax for the three months ended September 30, 2021 and 2020. $395 and $0 in penalties and interest incurred related to underpayment of income taxes for the nine months ended September 30, 2021 and 2020, respectively. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares)

The United States and foreign components of income (loss) before income taxes were comprised of the following: SCHEDULE OF COMPONENTS OF INCOME/(LOSS) BEFORE INCOME TAX <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; 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="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Tax jurisdictions from:</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><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: 28%; text-align: justify">Local – United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20210701__20210930_pp0p0" style="width: 14%; text-align: right" title="Local">(117,272</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20200701__20200930_pp0p0" style="width: 14%; text-align: right" title="Local">(96,606</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20210101__20210930_pp0p0" style="width: 14%; text-align: right" title="Local">(321,567</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_c20200101__20200930_pp0p0" style="width: 14%; text-align: right" title="Local">(400,776</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: justify">Foreign – Malaysia</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20210701__20210930__srt--StatementGeographicalAxis__country--MY_pp0p0" style="text-align: right" title="Foreign">(257,590</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20200701__20200930__srt--StatementGeographicalAxis__country--MY_pp0p0" style="text-align: right" title="Foreign">719,561</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20210101__20210930__srt--StatementGeographicalAxis__country--MY_pp0p0" style="text-align: right" title="Foreign">(727,265</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pp0p0_c20200101__20200930__srt--StatementGeographicalAxis__country--MY_zKHiiRLxyD53" style="text-align: right" title="Foreign">1,033,341</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Foreign – Hong Kong</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20210701__20210930__srt--StatementGeographicalAxis__country--HK_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(210,946</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_984_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20200701__20200930__srt--StatementGeographicalAxis__country--HK_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(149,977</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_988_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20210101__20210930__srt--StatementGeographicalAxis__country--HK_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(502,760</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_98E_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_c20200101__20200930__srt--StatementGeographicalAxis__country--HK_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(170,030</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">(Loss) income before income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c20210701__20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before income tax">(585,808</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c20200701__20200930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before income tax">472,978</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">$</td><td id="xdx_98F_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c20210101__20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before income tax">(1,551,592</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_c20200101__20200930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss before income tax">462,535</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

-117272

-96606

-321567

-400776

-257590

719561

-727265

1033341

-210946

-149977

-502760

-170030

-585808

472978

-1551592

462535

The benefit of (provision for) income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAX <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the three months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">For the nine months ended</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">September 30, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Current:</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><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: 28%; text-align: justify">- Local</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_c20210701__20210930_pp0p0" style="width: 14%; text-align: right" title="- Local">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_c20200701__20200930_pdp0" style="width: 14%; text-align: right" title="- Local">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_c20210101__20210930_pp0p0" style="width: 14%; text-align: right" title="- Local">(22,205</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_c20200101__20200930_pdp0" style="width: 14%; text-align: right" title="- Local">-</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: justify">- Foreign</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--CurrentForeignTaxExpenseBenefit_c20210701__20210930_pp0p0" style="text-align: right" title="- Foreign">(63,792</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--CurrentForeignTaxExpenseBenefit_c20200701__20200930_pdp0" style="text-align: right" title="- Foreign">(20,381</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--CurrentForeignTaxExpenseBenefit_c20210101__20210930_pp0p0" style="text-align: right" title="- Foreign">(104,977</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--CurrentForeignTaxExpenseBenefit_c20200101__20200930_pdp0" style="text-align: right" title="- Foreign">(20,381</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </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><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: justify">Deferred:</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><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: justify">- Local</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_c20210701__20210930_pdp0" style="text-align: right" title="- Local">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_c20200701__20200930_pdp0" style="text-align: right" title="- Local">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_c20210101__20210930_pdp0" style="text-align: right" title="- Local">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_c20200101__20200930_pdp0" style="text-align: right" title="- Local">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">- Foreign</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_c20210701__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="- Foreign">78,335</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_98E_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_c20200701__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="- Foreign">(37,560</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_981_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_c20210101__20210930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="- Foreign">131,634</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_987_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_c20200101__20200930_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="- Foreign">(171,627</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Benefit of (provision for) income tax</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--OtherIncomeTaxExpenseBenefitContinuingOperations_c20210701__20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Benefit of (provision for) income tax">14,543</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--OtherIncomeTaxExpenseBenefitContinuingOperations_c20200701__20200930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Benefit of (provision for) income tax">(57,941</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">$</td><td id="xdx_983_eus-gaap--OtherIncomeTaxExpenseBenefitContinuingOperations_c20210101__20210930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Benefit of (provision for) income tax">4,452</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--OtherIncomeTaxExpenseBenefitContinuingOperations_c20200101__20200930_pp0p0" style="border-bottom: Black 2.5pt double; text-align: right" title="Benefit of (provision for) income tax">(192,008</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-22205

-63792

-20381

-104977

-20381

78335

-37560

131634

-171627

14543

-57941

4452

-192008

0.21

0.35

In addition, the Tax Cuts and Jobs Act imposed a global intangible low-taxed income (“GILTI”) tax, which is a tax on certain off-shore earnings at an effective rate of 10.5% for tax years (50% deduction of the current enacted tax rate of 21%) with a partial offset for 80% foreign tax credits. If the foreign tax rate is 13.125% or higher, there will be no U.S. corporate tax after the 80% foreign tax credits are applied.

22205

395

312608

65648

344000

72000

0.03

0.24

The tax rate for small and medium sized companies (generally companies incorporated in Malaysia with paid-in capital of RM 2,500,000 or less) is 17% for the first RM 600,000 (or approximately $150,000) for the three and nine months ended September 30, 2021 and RM 500,000 (or approximately $125,000) income for the three and nine months ended September 30, 2020, with the remaining balance being taxed at the 24% rate.

0.17

0.165

The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of: SCHEDULE OF DEFERRED TAX ASSETS <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="padding-bottom: 1.5pt; text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Deferred tax 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></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: justify; padding-left: 10pt">Net operating loss carry forwards in U.S.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_c20210930__srt--StatementGeographicalAxis__country--US_pp0p0" style="width: 14%; text-align: right" title="Net operating loss carry forwards">72,192</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsDomestic_c20201231__srt--StatementGeographicalAxis__country--US_pdp0" style="width: 14%; text-align: right" title="Net operating loss carry forwards">-</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: justify; padding-left: 10pt">Net operating loss carry forwards in Malaysia</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsForeign_c20210930__srt--StatementGeographicalAxis__country--MY_pp0p0" style="text-align: right" title="Net operating loss carry forwards">152,553</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwardsForeign_c20201231__srt--StatementGeographicalAxis__country--MY_pp0p0" style="text-align: right" title="Net operating loss carry forwards">62,678</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Less: valuation allowance</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_c20210930_z2OKi9yy0nwl" style="text-align: right" title="Less: valuation allowance">(72,192</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pdp0_di_c20201231_zVwFETlaVY4d" style="text-align: right" title="Less: valuation allowance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Deferred tax 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 style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 10pt">Depreciation</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_981_ecustom--DeferredTaxLiabilitiesDepreciation_iI_pdp0_c20210930_zJwnnGn0besh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Depreciation">(28,187</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_98A_ecustom--DeferredTaxLiabilitiesDepreciation_c20201231_pp0p0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Depreciation">(68,421</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Deferred tax assets (liabilities), net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--DeferredTaxAssetsNet_iI_pp0p0_c20210930_zED2jsz9FD1e" style="border-bottom: Black 2.5pt double; text-align: right" title="Deferred tax asset, net">124,366</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--DeferredIncomeTaxLiabilities_iNI_pp0p0_di_c20201231_zrQH2S7ERhvi" style="border-bottom: Black 2.5pt double; text-align: right" title="Deferred tax (liabilities), net">(5,743</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

72192

152553

62678

72192

-28187 -68421

124366

5743

395

17. CONCENTRATIONS OF RISKS (a) Major customers For the three months ended September 30, 2021 and 2020, no customer accounted for <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210701__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ECommerceCompanyMember__srt--MajorCustomersAxis__custom--CustomerMember_zsj2Uo5xQZ6i" title="Concentrations of risk percentage"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20200701__20200930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ECommerceCompanyMember__srt--MajorCustomersAxis__custom--CustomerMember_zrN0lOqRjSAj">10% or more of the Company’s total revenues. For the nine months ended September 30, 2021 and 2020, no customer accounted for <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ECommerceCompanyMember__srt--MajorCustomersAxis__custom--CustomerMember_z6x3PQ4DbN9i"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20200101__20200930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ECommerceCompanyMember__srt--MajorCustomersAxis__custom--CustomerMember_zoPWoxmp8Lec">10% or more of the Company’s total revenues. There is no account receivable balance as of September 30, 2021. As of December 31, 2020, receivables from a third-party e-commerce company accounted for approximately <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20200101__20201231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ECommerceCompanyMember_zoCQjMhGHjhf" title="Concentrations of risk percentage"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20200101__20201231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ECommerceCompanyMember_zFRXtGeGyOrc" title="Concentrations of risk percentage">100.0% of the balance of accounts receivable. (b) Major vendors For the three months ended September 30, 2021, two vendors accounted for <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210701__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--MajorPropertyClassAxis__custom--OneVendorMember_zItj6ctU2CF">69.3% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210701__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--MajorPropertyClassAxis__custom--TwoVendorMember_zm8Mzns96Ur8">26.5% of the Company’s total purchases. For the three months ended September 30, 2020, two vendors accounted for <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20200701__20200930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--MajorPropertyClassAxis__custom--OneVendorMember_z18WubUByHwi">63.7% and <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20200701__20200930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--MajorPropertyClassAxis__custom--TwoVendorMember_zf4hHiQsTmR5">36.3% of the Company’s total purchases. For the nine months ended September 30, 2021, three vendors accounted for <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--MajorPropertyClassAxis__custom--OneVendorMember_zJLWzkcbTWr5">74.3%, <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--MajorPropertyClassAxis__custom--TwoVendorMember_zJODjGj62V7">14.1% and <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--MajorPropertyClassAxis__custom--ThreeVendorMember_zYZLYoW0LWxb">10.0% of the Company’s total purchases. For the nine months ended September 30, 2020, two vendors accounted for approximately <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20200101__20200930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--MajorPropertyClassAxis__custom--OneVendorMember_zmEalFuLKLck">66.6% and <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20200101__20200930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--MajorPropertyClassAxis__custom--TwoVendorMember_z28omvw07EQ2">33.4% of the Company’s total purchases. There are no accounts payable balance as of September 30, 2021 and December 31, 2020. (c) Commission Expenses to Sales Distributors and Stockists For the three months ended September 30, 2021, one sales distributor accounted for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210701__20210930__srt--TitleOfIndividualAxis__custom--OneSalesDistributorMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember_zJEqEHxwDi46">17.8% of the Company’s total commission expense. For the three months ended September 30, 2020, two sales distributors accounted for approximately <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20200701__20200930__srt--TitleOfIndividualAxis__custom--OneSalesDistributorMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember_zcWDh4fgOZaf">10.5% and <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20200701__20200930__srt--TitleOfIndividualAxis__custom--TwoSalesDistributorMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember_zkkoLqkcyoFl">10.3% of the Company’s total commission expense. For the nine months ended September 30, 2021, one sales distributor accounted for <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20210930__srt--TitleOfIndividualAxis__custom--OneSalesDistributorMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember_zusjwsUBF1N5">19.4% of the Company’s total commission expense. For the nine months ended September 30, 2020, no sales distributor accounted for <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20200101__20200930__srt--TitleOfIndividualAxis__custom--SalesDistributorMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember_zE7MetfV2I8g">10% or more of the Company’s total commission expense. (d) Credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. As of September 30, 2021 and December 31, 2020, $841,836 and $1,112,147 were deposited with financial institutions, respectively, $509,027 and $563,788 of these balances are not covered by deposit insurance. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness. Financial instruments that are potentially subject to credit risk consist principally of accounts receivable. The Company believes the concentration of credit risk in its account receivable is substantially mitigated by its ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company evaluates the need for an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. Historically, the Company did not have any bad debt on its account receivable. (e) Exchange rate risk The Company cannot guarantee that the current exchange rate will remain steady; therefore, there is a possibility that the Company could post the same amount of profit for two comparable periods and because of the fluctuating exchange rate actually post higher or lower profit depending on exchange rate of RM and HK$ converted to US$ on that date. The exchange rate could fluctuate depending on changes in political and economic environments without notice. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares)

0.10

1.000

0.693

0.265

0.637

0.363

0.743

0.141

0.100

0.666

0.334

0.178

0.105

0.103

0.194

0.10

841836

1112147

509027 563788

18. COMMITMENTS AND CONTINGENCIES Lease commitments On April 1, 2020, the Company adopted ASC 842 for ASL’s office space lease and sales and training center as the lease commencement date upon the acquisition of ASL. The Company recognized lease liabilities of approximately $490,000, with a corresponding right-of-use (“ROU”) asset in the same amount based on the present value of the future minimum rental payments of the lease, using an effective interest rate of <span id="xdx_902_eus-gaap--LesseeOperatingLeaseDiscountRate_iI_pid_dp_uPure_c20200402__us-gaap--BusinessAcquisitionAxis__custom--AgapeSuperiorLivingMember_zo2zO6gyeIVi" title="Operating lease effective interest rate">5.5%, which was determined using the Company’s estimated incremental borrowing rate. On May 31, 2021, the Company entered into two separate two-year leases extension with the modified lease expiring May 31, 2023 for its office space and expiring August 31, 2023 for its training center. The lease modification required the Company to re-measure the ROU assets and lease liabilities based on the modified leases. The Company recognized a reduction of $3,259 in ROU assets and lease liabilities upon lease modifications based on the present value of the future minimum rental payments of the lease, using an effective interest rate of <span id="xdx_902_eus-gaap--LesseeOperatingLeaseDiscountRate_iI_pid_dp_uPure_c20210531__us-gaap--BusinessAcquisitionAxis__custom--AgapeSuperiorLivingMember_z63s4LYYhcti" title="Operating lease effective interest rate">5.5%, which was determined using the Company’s estimated incremental borrowing rate. As of September 30, 2021, the weighted remaining term of the lease is approximately <span id="xdx_908_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20210930__us-gaap--BusinessAcquisitionAxis__custom--AgapeSuperiorLivingMember_zXbDtZGVnRu4" title="Operating lease, weighted average remaining lease term">1.79 years. The five-year maturity of the Company’s operating lease liabilities is as follow: SCHEDULE OF LEASE COMMITMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Twelve Months Ending September 30,</td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20210930_z6MS1MPHlir1" style="border-bottom: Black 1.5pt solid; text-align: center">Operating lease liabilities</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_pp0p0_maLOLLPzTbq_zeiYEdzFfVvb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">159,866</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo_iI_pp0p0_maLOLLPzTbq_znMZewqEg3B3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,411</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearAfterTwo_iI_pp0p0_maLOLLPzTbq_zVCkJMwFBMdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Thereafter</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">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0p0_mtLOLLPzTbq_zTtuX8iRiixd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">280,277</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_zIoO0KufjP4h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; 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">(13,695</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeaseLiability_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; 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">266,582</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Rent expense for the three months ended September 30, 2021 and 2020 was $44,344 and $58,793, respectively. Rent expense for the nine months ended September 30, 2021 and 2020 was $135,865 and $111,465, respectively. Purchase commitments The total future minimum purchase commitment under a non-cancellable purchase contract as of September 30, 2021 for the next five years and thereafter is as follows: SCHEDULE OF PURCHASE COMMITMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Twelve months ending September 30,</td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20210930_zuYdLGzINA7b" style="border-bottom: Black 1.5pt solid; text-align: center">Minimum purchase</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_404_eus-gaap--PurchaseObligationDueInNextTwelveMonths_iI_pp0p0_maPOzfRo_zw8dcwisZKP5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">693,900</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PurchaseObligationDueInSecondYear_iI_pp0p0_maPOzfRo_zXGowG12RMe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">693,900</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PurchaseObligationDueInThirdYear_iI_pp0p0_maPOzfRo_zkUVGWv9UDSh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">693,900</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PurchaseObligationDueInFourthYear_iI_pp0p0_maPOzfRo_zxLB0cOePFoa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">693,900</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PurchaseObligationDueInFifthYear_iI_pp0p0_maPOzfRo_z9fdSVqzb39b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">693,900</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PurchaseObligationDueAfterFifthYear_iI_pp0p0_maPOzfRo_zERH5U6O8iMb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Thereafter</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">867,375</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PurchaseObligation_iTI_pp0p0_mtPOzfRo_zh1wo99gUNy4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Total minimum purchase commitments required</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,336,875</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of the date of this report, the Company’s vendor is not able to meet the Company’s minimum purchase commitment of the health and wellness products due to the manufacturing process was being delayed by its vendor. AGAPE ATP CORPORATION NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) (Currency expressed in United States Dollars (“US$”), except for number of shares) 18. COMMITMENTS AND CONTINGENCIES (Continued) Contingencies Legal From time to time, the Company is party to certain legal proceedings, as well as certain asserted and un-asserted claims. Amounts accrued, as well as the total amount of reasonably possible losses with respect to such matters, individually and in the aggregate, are not deemed to be material to the unaudited condensed consolidated financial statements. COVID-19 Since the declaration of the COVID-19 a pandemic on March 11, 2020, by the World Health Organization or WHO, Malaysia has been put through various stages of lockdowns such as (1) full movement control orders (“MCO”), under which, quarantines, travel restrictions, and the temporary closure of stores and facilities in Malaysia were made mandatory, (2) MCO were eased to a Conditional Movement Control Order (“CMCO”) where most business sectors were allowed to operate under strict rules and Standard Operating Procedures mandated by the government of Malaysia and (3) CMCO were further relaxed to Recovery Movement Control Order (“RMCO”). On January 12, 2021, due to a resurgence of COVID-19 cases, the Malaysian government declared a state of emergency nationwide to combat COVID-19. Intermittent lockdowns were imposed in various states and districts in the country. February 2021 marked a significant month for Malaysia as all frontline staff of the country, which comprised those in healthcare, police, the Volunteers Department of Malaysia, the Fire and Rescue Department of Malaysia and civil defense sectors were vaccinated. On February 16, 2021, Prime Minister, Tan Sri Muhyiddin Yassin announced that a National COVID-19 Immunisation Plan will be implemented for one year after February 2021, which 80% of the Malaysia population will be vaccinated to achieve herd immunization. On March 5, 2021, lockdowns in most part of the country was eased to a CMCO, nevertheless, COVID-19 cases in the country continue to rise. On May 12, 2021, Malaysia was again put under a full lockdown nationwide, until the earlier of (i) daily COVID-19 cases infection of the country fall below 4,000; (ii) intensive Unit Care, or ICU, wards start operating at a moderate level; or (iii) 10% of the Malaysian population is fully vaccinated. The country was administering over 400,000 doses of COVID-19 vaccines daily. On July 17, 2021, the full lockdown was slightly eased as 13.9% of the Malaysian population was fully vaccinated, with another 30% having received at least one dose of the vaccine. The COVID-19 situation in the country showed no sign of abating. Kuala Lumpur and Selangor remained the epicenter of the latest wave of infections. Total COVID-19 cases in the country surpassed the one million mark on July 25, 2021, and daily cases hit a record high of 24,599 on August 26, 2021. Despite the deteriorating COVID-19 state, the government lifted Kuala Lumpur from Enhanced Movement Control Order (“EMCO”) ahead of schedule and ended the nationwide state of emergency on August 1, 2021. Parliament met for the first time this year on July 26, 2021. Malaysia pressed on with its National COVID-19 Immunisation Plan, fast inoculating its residents. COVID-19 infection started to drop below the 10,000 mark daily, beginning October 3, 2021. Effective October 11, 2021, interstate and international travel restrictions were lifted for residents who had been fully vaccinated against COVID-19 as the country achieved its target of inoculating 90% of its adult population. The government is preparing to shift into an endemic COVID-19 phase where it will not impose wide lockdowns even if cases rise. As of October 31, 2021, over 75% of the country’s population have been fully vaccinated. Substantially all of our revenues are concentrated in Malaysia. Consequently, our results of operations will likely be adversely, and may be materially, affected, to the extent that the COVID-19 or any other epidemic harms the Malaysia and global economy in general. Any potential impact to our results will depend on, to a large extent, future developments and new information that may emerge regarding the duration and severity of the COVID-19 and the actions taken by government authorities and other entities to contain the COVID-19 or treat its impact, almost all of which are beyond our control. Potential impacts include, but are not limited to, the following: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.3in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.3in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">temporary closure of offices, travel restrictions, financial impact of the Company’s customers or suspension supplies may be negatively affected, and could continue to negatively affect the demand for the Company’s product;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">the Company may have to provide significant sales incentives to its customers during the outbreak, which may in turn materially adversely affect its financial condition and operating results; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">any disruption of the Company’s supply chain, logistics providers or customers could adversely impact its business and results of operations, including causing the Company or its suppliers to cease manufacturing for a period of time or materially delay delivery to its customers, which may also lead to loss of its customers.</td></tr> </table> Because of the uncertainty surrounding the COVID-19 outbreak, the financial impact related to the outbreak of and response to the COVID-19 cannot be reasonably estimated at this time. There is no guarantee that the Company’s total revenues will grow or remain at the similar level year over year in 2021 and 2022.

490000

0.055

2023-05-31 2023-08-31 3259

0.055

P1Y9M14D

The five-year maturity of the Company’s operating lease liabilities is as follow: SCHEDULE OF LEASE COMMITMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Twelve Months Ending September 30,</td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20210930_z6MS1MPHlir1" style="border-bottom: Black 1.5pt solid; text-align: center">Operating lease liabilities</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_pp0p0_maLOLLPzTbq_zeiYEdzFfVvb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">159,866</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo_iI_pp0p0_maLOLLPzTbq_znMZewqEg3B3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">120,411</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearAfterTwo_iI_pp0p0_maLOLLPzTbq_zVCkJMwFBMdd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Thereafter</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">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0p0_mtLOLLPzTbq_zTtuX8iRiixd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">280,277</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_zIoO0KufjP4h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; 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">(13,695</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--OperatingLeaseLiability_iI_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; 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">266,582</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

159866

120411

280277

13695

266582

44344

58793

135865

111465

The total future minimum purchase commitment under a non-cancellable purchase contract as of September 30, 2021 for the next five years and thereafter is as follows: SCHEDULE OF PURCHASE COMMITMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Twelve months ending September 30,</td><td style="text-align: center; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20210930_zuYdLGzINA7b" style="border-bottom: Black 1.5pt solid; text-align: center">Minimum purchase</td><td style="text-align: center; padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_404_eus-gaap--PurchaseObligationDueInNextTwelveMonths_iI_pp0p0_maPOzfRo_zw8dcwisZKP5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">2022</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">693,900</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PurchaseObligationDueInSecondYear_iI_pp0p0_maPOzfRo_zXGowG12RMe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">693,900</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PurchaseObligationDueInThirdYear_iI_pp0p0_maPOzfRo_zkUVGWv9UDSh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">693,900</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PurchaseObligationDueInFourthYear_iI_pp0p0_maPOzfRo_zxLB0cOePFoa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">693,900</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PurchaseObligationDueInFifthYear_iI_pp0p0_maPOzfRo_z9fdSVqzb39b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">693,900</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PurchaseObligationDueAfterFifthYear_iI_pp0p0_maPOzfRo_zERH5U6O8iMb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">Thereafter</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">867,375</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PurchaseObligation_iTI_pp0p0_mtPOzfRo_zh1wo99gUNy4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 10pt">Total minimum purchase commitments required</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">4,336,875</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

693900

867375

4336875

On May 12, 2021, Malaysia was again put under a full lockdown nationwide, until the earlier of (i) daily COVID-19 cases infection of the country fall below 4,000; (ii) intensive Unit Care, or ICU, wards start operating at a moderate level; or (iii) 10% of the Malaysian population is fully vaccinated. The country was administering over 400,000 doses of COVID-19 vaccines daily. On July 17, 2021, the full lockdown was slightly eased as 13.9% of the Malaysian population was fully vaccinated, with another 30% having received at least one dose of the vaccine. The COVID-19 situation in the country showed no sign of abating. Kuala Lumpur and Selangor remained the epicenter of the latest wave of infections. Total COVID-19 cases in the country surpassed the one million mark on July 25, 2021, and daily cases hit a record high of 24,599 on August 26, 2021. Despite the deteriorating COVID-19 state, the government lifted Kuala Lumpur from Enhanced Movement Control Order (“EMCO”) ahead of schedule and ended the nationwide state of emergency on August 1, 2021. Parliament met for the first time this year on July 26, 2021. Malaysia pressed on with its National COVID-19 Immunisation Plan, fast inoculating its residents. COVID-19 infection started to drop below the 10,000 mark daily, beginning October 3, 2021. Effective October 11, 2021, interstate and international travel restrictions were lifted for residents who had been fully vaccinated against COVID-19 as the country achieved its target of inoculating 90% of its adult population. The government is preparing to shift into an endemic COVID-19 phase where it will not impose wide lockdowns even if cases rise. As of October 31, 2021, over 75% of the country’s population have been fully vaccinated.

19. SUBSEQUENT EVENT On November 11, 2021, Agape ATP Corporation (Labuan) formed a joint-venture entity, DSY Wellness International Sdn. Bhd. with an independent third party which Agape ATP Corporation (Labuan) owns 60% of the equity interest, to pursue the business of providing complementary health therapies.

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