Operating Lease (Tables)

9 Months Ended

Sep. 30, 2020

Lessee Disclosure [Abstract]

Schedule of Lease Cost and Other Information Related to Operating Leases

For nine months ended September 30, 2020, the Company has incurred rent expenses solely for the office premises on a monthly basis as follows:

	Nine Months Ended September 30, 2020
Lease Cost
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	42,366
Other Information
Cash paid for amounts included in the measurement of lease liabilities for the third quarter 2020	$	47,074
Weighted average remaining lease term – operating leases (in years)		0.25
Average discount rate – operating leases		4.35	%
The supplemental balance sheet information related to leases for the period is as follows:
Operating leases
Right-of-use assets	$	9,393
Total operating lease assets	$	9,393
Short-term operating lease liabilities	$	10,443
Long-term operating lease liabilities	$	-
Total operating lease liabilities	$	10,443

For nine months ended September, 2019, the Company has incurred rent expenses solely for the office premises on a monthly basis as follows:

	Nine Months Ended September 30, 2019
Lease Cost
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	40,586
Other Information
Cash paid for amounts included in the measurement of lease liabilities for the third quarter 2019	$	44,947
Weighted average remaining lease term – operating leases (in years)		1.17
Average discount rate – operating leases		4.35	%
The supplemental balance sheet information related to leases for the period is as follows:
Operating leases
Right-of-use assets	$	61,062
Total operating lease assets	$	61,062
Short-term operating lease liabilities	$	58,119
Long-term operating lease liabilities	$	9,934
Total operating lease liabilities	$	68,053

Schedule of Maturities of Lease Liabilities

Maturities of the Company’s lease liabilities are as follows:

Period ending September 30,	Operating Lease
2020 (remaining 2 months)		10,500
2021		-
Total lease payments		10,500
Less: Imputed interest/present value discount		(57	)
Present value of lease liabilities		10,443

Maturities of the Company’s lease liabilities are as follows:

Period ending September 30,	Operating Lease
2019 (remaining 6 months)		14,982
2020		54,936
Total lease payments		69,918
Less: Imputed interest/present value discount		(1,865	)
Present value of lease liabilities		68,053