LEASE RIGHT OF USE ASSET AND LEASE LIABILITY

3 Months Ended

Mar. 31, 2021

LEASE RIGHT OF USE ASSET AND LEASE LIABILITY

NOTE 6 - LEASE RIGHT OF USE ASSET AND LEASE LIABILITY

Operating lease right of use as follow:

	As of
	March 31,			December 31,
	2021			2020
Balance as of beginning of the year	$	62,529		$	23,542
Add: Addition of right of use assets		-			61,128
Less: accumulated amortization		(5,214	)		(22,587	)
Foreign translation differences		(1,568	)		446
Balance	$	55,747		$	62,529
Operating lease liability as follow:	As of
	March 31,			December 31,
	2021			2020
Balance as of beginning of the year	$	63,079		$	24,148
Add: Addition of lease liabilities		-			61,128
Less: gross repayment		(4,705	)		(26,036	)
Add: imputed interest		795			3,380
Foreign translation differences		(2,465	)		459
Balance as of end of the year		56,704			63,079
Less: lease liability current portion		(16,793	)		(20,702	)
Lease liability non-current portion	$	39,911		$	42,377

The amortization of the operating lease right of use asset for the three months’ period ended March 31, 2021 and the year ended December 31, 2020 were $2,637 and $10,816 respectively.

Other information:	As of
	March 31,			December 31,
	2021			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow from operating lease	$	6,375		$	38,931
Right of use assets obtained in exchange for operating lease liabilities		55,747			65,529
Remaining lease term for operating lease (years)		3.75			4
Weighted average discount rate for operating lease		5.40	%		5.40	%