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LEASE RIGHT OF USE ASSET AND LEASE LIABILITY (Tables)
12 Months Ended
Dec. 31, 2019
FINANCE LEASE (Tables)  
Schedule of operating lease right and lease liability

 

As of

 

December 31,

2018

 

Gross lease payable

 

$

39,027

 

Less: imputed interest

 

(3,714

)

Initial recognition as of January 1, 2019

 

$

35,313

 

Schedule of the operating lease right

Initial recognition as of January 1, 2019

 

$

35,313

 

Accumulated amortization

 

(11,771

)

Balance as of December 31, 2019

 

$

23,542

 

Schedule of the operating lease liability

Initial recognition as of January 1, 2019

 

$

35,313

 

Less: gross repayment

 

(13,192

)

Add: imputed interest

 

2,027

 

Balance as of December 31, 2019

 

$

24,148

 

Less: lease liability current portion

 

(11,936

)

Lease liability non-current portion

 

12,212

 

Schedule of lease payments

Years ending December 31:

 

2020

 

$

11,936

 

2021

 

12,212

 

Total

 

$

24,148

 

Schedule of other information

 

As of

 

December 31,

2019

 

December 31,

2018

 

Cash paid for amounts included in the measurement of lease liabilities:

 

Operating cash flow from operating lease

 

$

11,012

 

$

-

 

Right of use assets obtained in exchange for operating lease liabilities

 

23,542

 

-

 

Remaining lease term for operating lease (years)

 

2

 

-

 

Weighted average discount rate for operating lease

 

$

6.70

%

 

$

-