XML 18 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 254,640 $ (683,841)
Adjustments to reconcile net loss to net cash used in operating activities    
Imputed interest expense 29,603 46,094
Depreciation 10,806 11,043
Changes in operating assets and liabilities:    
Deposit, prepayments, and other receivables (42,723) 12,070
Accounts payable 9,454 4,280
Accrual and other payable 80,365 172,985
Receipts in advance (311,070) (140,317)
Deferred revenue (1,494,902) 1,585,905
Income tax payable 21,348 (5,646)
Operating lease right-of-use assets 143,557 49,455
Operating lease liabilities (139,997) (55,083)
Net cash (used in) generated from operating activities (1,438,919) 996,945
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of plant and equipment (1,355)
Net cash used in investing activities (1,355)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Interest payable (46,094)
(Repayment to) advances from related parties 1,174,209 (1,124,730)
Advances from holding companies 10,766
Advances from (payment to) director (6,460) 1,214
Net cash provided by (used in) financing activities 1,167,749 (1,158,844)
Effect of exchange rate changes on cash and cash equivalents 5,557 (118,433)
Net change in cash and cash equivalents (265,613) (281,687)
Cash and cash equivalents, beginning of year 824,733 1,106,420
CASH AND CASH EQUIVALENTS, END OF YEAR 559,119 824,733
SUPPLEMENTAL CASH FLOWS INFORMATION    
Income taxes paid
Interest paid
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Right-of-use asset exchanged for lease liability $ 494,541