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<p id="xdx_80C_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_z1o5VU4viFuf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. ORGANIZATION AND BUSINESS BACKGROUND Ezagoo Limited, a Nevada corporation (“the Company”) was incorporated under the laws of the State of Nevada on May 9, 2018. On May 9, 2018 Tan, Xiaohao was appointed as President, Secretary, Treasurer, and Director of the Company. On May 9, 2018, our President, Tan, Xiaohao, purchased <span id="xdx_90B_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20180508__20180509__srt--TitleOfIndividualAxis__custom--TanXiaohaoMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zytnWpd7uWka">90,050,500 shares of restricted common stock at a purchase price of $0.0001 (par value) per share. The proceeds from the sale, which were in the amount of $<span id="xdx_909_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20180508__20180509__srt--TitleOfIndividualAxis__custom--TanXiaohaoMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_pp0p0">9,005 have gone directly to the Company for initial working capital. On June 30, 2018 Zhang, Qianwen and Greenpro Asia Strategic SPC- Greenpro Asia Strategic Fund SP purchased <span id="xdx_907_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20180629__20180630__srt--TitleOfIndividualAxis__custom--ZhangQianwenMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zVq4k25oZdJj">3,591,000 and <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20180628__20180630__dei--LegalEntityAxis__custom--GreenproAsiaStrategicSPCMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zAdcOiY2Cda9">1,358,500 shares of restricted common stock respectively at a purchase price of $<span id="xdx_90D_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20180630__dei--LegalEntityAxis__custom--GreenproAsiaStrategicSPCMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z9byCL4eGsM6">0.0001 (par value) per share. The proceeds from the sale, which were in the amount of $<span id="xdx_90A_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20180629__20180630__srt--TitleOfIndividualAxis__custom--ZhangQianwenMember__dei--LegalEntityAxis__custom--GreenproAsiaStrategicSPCMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_pp0p0">495, have gone directly to the Company for initial working capital. On June 6, 2018 Ezagoo Holding Limited, a Seychelles Company, acquired Ezagoo Limited, A Hong Kong Company, in consideration of $0.13. Ezagoo Limited, a Nevada Company, acquired Ezagoo Holding Limited, a Seychelles Company, on June 25, 2018 in consideration of $1. Ezagoo Holding Limited is now a wholly owned subsidiary of the Company. On July 20, 2018, Ezagoo Limited, a Hong Kong Company, incorporated a new subsidiary in Changsha, China, called Changsha Ezagoo Technology Limited, whereas it is owned entirely (<span id="xdx_903_ecustom--ProfitPercentage_iI_pid_dp_uPure_c20180720__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangshaEzagooTechnologyLimitedMember__us-gaap--TypeOfArrangementAxis__custom--ManagementServicesAgreementMember_zcMjnOx4nJYj">100%) by Ezagoo Limited, the Hong Kong Company. There was no consideration exchanged per the transaction. The three companies above are under common control Mr. Tan, Xiaohao, the director of the Company, so they are related parties. On July 20, 2018, Changsha Ezagoo Technology Limited, the Hong Kong Company, also referred to herein as “CETL”, entered into and consummated an agreement with Beijing Ezagoo Shopping Holding Limited, also referred to herein as “BESH”, and Ruiyin (Shenzhen) Financial Leasing Limited, also referred to herein as “RFLL”, whereas CETL has the option to purchase all of the equity interests of Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited), a Chinese, “PRC” Company, from RFLL and BESH. These equity interests would make up 100% of the equity interests of Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited). Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited) is considered to be a variable interest entity, also referred to herein as a “VIE”, to Changsha Ezagoo Technology Limited, and therefore a VIE of the issuer, Ezagoo Limited, a Nevada Company. More information regarding this agreement can be found in exhibit 10.1, titled, “Call Option Agreement”. On July 20, 2018, CETL entered into and consummated an agreement with BESH and RFLL whereas BESH and RFLL have given CETL the right to appoint management of CETL to act as proxy to existing shareholders of Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited). This gives management of CETL the ability to conduct and control company affairs of Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited). Actions which management of CETL may be able to carry out include, but are not limited to, exercising voting rights as proxy of the existing shareholder(s), appointing new directors, hiring new management, and carrying out corporate actions. More information regarding this agreement can be found in exhibit 10.2, titled, “Shareholder’ Voting Rights Proxy Agreement.” <span id="xdx_90C_ecustom--AgreementDescription_c20180719__20180720__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangshaEzagooTechnologyLimitedMember__us-gaap--TypeOfArrangementAxis__custom--ManagementServicesAgreementMember_zoZyLH8VQPba" title="Agreement, description">On July 20, 2018 CETL entered into and consummated an agreement with BESH and RFLL whereas BESH and RFLL have engaged CETL to provide management, financial, and other business services to Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited). CETL is to be compensated with <span id="xdx_90C_ecustom--ProfitPercentage_iI_pid_dp_c20180720__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangshaEzagooTechnologyLimitedMember__us-gaap--TypeOfArrangementAxis__custom--ManagementServicesAgreementMember_zpnuuJxN7GKd" title="Profit percentage">100% of all profits generated by Hunan Ezagoo Zhicheng Internet Technology Limited. This Agreement is effective as of <span id="xdx_90B_ecustom--AgreementEffectiveDate_dd_c20180719__20180720__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangshaEzagooTechnologyLimitedMember__us-gaap--TypeOfArrangementAxis__custom--ManagementServicesAgreementMember_zHmpBAa8xvM9" title="Agreement effective date">July 20, 2018 and will continue in effect for a period of ten (<span id="xdx_90A_ecustom--AgreementPeriod_dtY_c20180719__20180720__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangshaEzagooTechnologyLimitedMember__us-gaap--TypeOfArrangementAxis__custom--ManagementServicesAgreementMember_zMcnjhTZnC87" title="Agreement period">10) years (the “Initial Term”), and for succeeding periods of the same duration (each, “Subsequent Term”), until terminated by one of the following means either during the Initial Term or thereafter: Mutual Consent, Termination by CETL, Breach or Insolvency. Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited) is considered to be a variable interest entity to Changsha Ezagoo Technology Limited, and therefore a VIE of the issuer, Ezagoo Limited, a Nevada Company. More information regarding this agreement can be found in exhibit 10.3, titled, “Management Services Agreement.” On July 20, 2018, CETL entered into and consummated an agreement with BESH and RFLL whereas BESH and RFLL have pledged their equity interests in Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited), to CETL. More information regarding this agreement can be found in exhibit 10.4, titled, “Equity Pledge Agreement.” On July 20, 2018, CETL entered into a loan agreement with BESH and RFLL wherein CETL will loan the amount of approximately CNY$<span id="xdx_904_eus-gaap--LoansAndLeasesReceivableRelatedParties_iI_pp0p0_uCNY_c20180720__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangshaEzagooTechnologyLimitedMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember__us-gaap--AwardTypeAxis__custom--RenminbiCurrencyMember_z6fGKqpzeIY1">100,000 (Chinese Yuan) to BESH and RFLL, all of which shall be used for the benefit of Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited). The total amount of the loan is due on, or before, <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_c20180719__20180720__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangshaEzagooTechnologyLimitedMember__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember">December 31, 2018. More information regarding this agreement can be found in exhibit 10.5, titled, “Loan Agreement.” Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited) is the Company through which we operate, and which shares our business plan to provide video advertising on buses & the Mobile APP. On July 31, 2018 Xin Yang was appointed Chief Financial Officer of the Company. On March 3, 2021, the Company incorporated a branch company of Beijing Ezagoo Industrial Development Group Holding Limited (formerly known as Beijing Ezagoo Shopping Holding Limited), named Changsha Branch of Beijing Ezagoo Industrial Development Group Holding Limited, the reason to continue the operating in Changsha is we had adapted to the business environment and adjusted business strategy. EZAGOO LIMITED and its subsidiaries are hereinafter referred to as the “Company”. EZAGOO LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020 (Currency expressed in United States Dollars (“US$”), except for number of shares)

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1 On July 20, 2018 CETL entered into and consummated an agreement with BESH and RFLL whereas BESH and RFLL have engaged CETL to provide management, financial, and other business services to Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited). CETL is to be compensated with 100% of all profits generated by Hunan Ezagoo Zhicheng Internet Technology Limited. This Agreement is effective as of July 20, 2018 and will continue in effect for a period of ten (10) years (the “Initial Term”), and for succeeding periods of the same duration (each, “Subsequent Term”), until terminated by one of the following means either during the Initial Term or thereafter: Mutual Consent, Termination by CETL, Breach or Insolvency. 1 2018-07-20 P10Y

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2. GOING CONCERN UNCERTAINTIES As of December 31, 2021, the Company suffered an accumulated deficit of $2,578,180 and operated a net profit of $254,640. The continuation of the Company as a going concern through December 31, 2021 is dependent upon improving the profitability and the continuing financial support from its stockholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern.

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254640

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying audited consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated financial statements and notes. <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Basis of consolidated presentation</td></tr> </table> These consolidated financial statements, accompanying notes, and related disclosures have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). The Company’s fiscal year end is December 31. The Company’s financial statements are presented in U.S. dollars. The consolidated financial statements include the accounts of EZAGOO LIMITED and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation. <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Use of estimates</td></tr> </table> In preparing these consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheets and revenues and expenses during the periods reported. Actual results may differ from these estimates. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in">●</td> <td style="text-align: justify">Reclassification</td></tr> </table> Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Foreign currencies translation and re-measurement</td></tr> </table> 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 statements of operations and comprehensive income. The reporting currency of the Company is United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. In addition, the Company’s subsidiary in People’s Republic of China maintains its books and record in its local currency, Chinese Yuan (“RMB”), which is functional currency as being the primary currency of the economic environment in which the entity operates. 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 (loss) within the statements of stockholders’ deficit. Translation of amounts from RMB into US$1 has been made at the following exchange rates for the respective periods: SCHEDULE OF FOREIGN CURRENCY TRANSLATION OF EXCHANGE RATES <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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_499_20211231_ztOJqK2TiaA3" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20201231_zXVuOGBNDxTj" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of and for the year ended December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40C_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodEndMember_zqMAalCrzvo8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Period-end RMB: US$1 exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">6.36</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">6.53</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodAverageMember_zprVZdc50HY" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Period-average RMB: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.45</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.90</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodEndHKMember_z0Awy8ChigWi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Period-end HK$: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodAverageHKMember_z2Crl3NsGhdj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Period-average HK$: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodAverageHKMember_znN8qypvh8ll" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Period-end and Period-average CNY and HK$: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Cash and cash equivalents</td></tr> </table> The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Account receivable</td></tr> </table> Account receivable are stated at the customer obligations due under normal trade terms net of allowance for doubtful accounts. EZAGOO LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020 (Currency expressed in United States Dollars (“US$”), except for number of shares) <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Property, plant and equipment</td></tr> </table> Property, plant and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method. Estimated useful lives of the property and equipment are as follows: SCHEDULE OF PLANT AND EQUIPMENT EXPECTED USEFUL LIVES <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: 25%">Office equipment </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 75%"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MinimumMember_zSD65ihSbc2f" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3-<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MaximumMember_z5Hrs1QGhvR8">5 years</td></tr> </table> The cost of maintenance and repairs is charged to expenses as incurred, whereas significant renewals and betterments are capitalized. <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Lease</td></tr> </table> The Company accounts for its leases in accordance with ASC 842 Leases. The Company leases office space. The Company concludes on whether an arrangement is a lease at inception. This determination as to whether an arrangement contains a lease is based on an assessment as to whether a contract conveys the right to the Company to control the use of identified property, plant or equipment for period of time in exchange for consideration. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes these lease expenses on a straight-line basis over the lease term. The Company has assessed its contracts and concluded that its leases consist of only operating leases. Operating leases are included in operating lease right-of-use (ROU) assets, current portion of operating lease liabilities, and operating lease liabilities in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company determines an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Revenue recognition </td></tr> </table> The Company assesses and follows the guidance of ASC 606, revenue from contracts with customers is recognized using the following five steps: <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: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">1.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Identify the contract(s) with a customer;</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: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">a. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The parties to the contract have approved the contract (in writing, orally, or in accordance with other customary business practices) and are committed to perform their respective obligations.</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">b. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The entity can identify each party’s rights regarding the services to be transferred.</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">c. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The entity can identify the payment terms for the services to be transferred.</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">d. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The contract has commercial substance (that is, the risk, timing, or amount of the entity’s future cash flows is expected to change as a result of the contract).</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">e. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">It is probable that the entity will collect substantially all of the consideration to which it will be entitled in exchange for the services that will be transferred to the customer.</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: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Identify the performance obligations in the contract;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"> </td> <td style="text-align: justify; width: 0.25in"> </td> <td style="text-align: justify; width: 0.25in">a. </td> <td style="text-align: justify">According to the contract, the Company and Customer has to maintain the performance obligation, respectively.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify">b. </td> <td style="text-align: justify">The customer shall pay for the advertising services after signing of the contract and provide appropriate advertisement materials to the Company, the Company shall ensure the advertisement of the Customer is published according to the contract terms.</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: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">3.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Determine the transaction price;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">a. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">For the advertising contract, the transaction price is explicitly stated in fixed amount in the contract. There is no variable consideration, such as discounts, rebates, consideration payable to customer or noncash consideration. There was no price concession, and the Company did not expect any price concession for the service performed during the years ended December 31, 2021 and 2020.</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">b. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The contract does not contain any elements that would cause consideration under the arrangement to be variable (Examples include discounts, rebates, refunds, credits, incentives, tiered pricing, price guarantees, right of return, etc.). </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">c. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">There are no factors that exist whereby it is not probable that a significant reversal or revenues will not occur in the contract.</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: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">4.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Allocate the transaction price to the performance obligations in the contract; and</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">a. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">There were no multiple performance obligations to which the transaction price must be allocated, and each contract only has one performance obligation. The standalone selling price is explicated stated in the contract.</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: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">5.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Recognize revenue when (or as) the entity satisfies a performance obligation.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">a.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Per ASC 606, an entity shall recognize revenue when (or as) the entity satisfies a performance obligation by transferring a promised good or service (that is, an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset. </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">b.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Revenue is recognized when the advertising service is performed. According to the sample advertising contract, upon obtaining the signed contract from the Customer, the service period would be started. Therefore, the revenue is recognized when the service completely provided at that point in time.</td></tr> </table> Under Topic 606, revenues are recognized when the promised services have been confirmed and transferred to the consumers in amounts that reflect the consideration the customer expects to be entitled to in exchange for those services. The Company presents value added taxes (“VAT”) as reductions of revenues. The Company recognizes revenues net of value added taxes (“VAT”) and relevant charges. The Company’s revenue mainly from providing advertising services on urban bus in Changsha and the Xindian application that developed by the Company (“service revenue”). <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Cost of revenues</td></tr> </table> Cost of revenue includes bus media terminal rental fees, bus monitors maintenance fees, bus screen installation fees, internet data fees, cloud fees for storage use and the operating salaries for the staffs who running the Xindian application. <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Value-added taxes</td></tr> </table> Revenue is recognized net of value-added taxes (“VAT”). The VAT is based on gross sales price and VAT rates applicable to the Company is 6% for the year ended December 31, 2021 and 2020. All of the VAT returns filed by the Company’s subsidiaries in the PRC, have been and remain subject to examination by the PRC tax authorities for five years from the date of filing. VAT payables are included in accrued liabilities. <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Income taxes</td></tr> </table> The Company followed the liability method of accounting for income taxes in accordance with ASC 740, Income Taxes, or ASC 740. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company recorded a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rate is recognized in tax expense in the period that includes the enactment date of the change in tax rate. The Company accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties related to unrecognizable tax benefit recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive loss as income tax expense. EZAGOO LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020 (Currency expressed in United States Dollars (“US$”), except for number of shares) <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Earnings per share</td></tr> </table> The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per share”. Basic EPS is measured as the income or loss available to common shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common 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. Any potential common shares in 2021 and 2020 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. <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Commitments and contingencies</td></tr> </table> Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Related party transaction</td></tr> </table> A related party is generally defined as (i) any person that holds 10% or more of the Company’s securities and their immediate families, (ii) the Company’s management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. <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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Recent accounting pronouncements</td></tr> </table> In January 2017, the FASB issued ASU 2017-04, “Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” which simplifies how an entity is required to test goodwill for impairment by eliminating step two from the goodwill impairment test. Step two of the goodwill impairment test measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with its carrying amount. The new guidance is effective prospectively but not applicable for us for the year ending December 31, 2021 and interim reporting periods during the year ending December 31, 2021. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We are evaluating the effects, if any, of the adoption of this guidance on our financial position, results of operations and cash flows. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. The new guidance modifies disclosure requirements related to fair value measurement. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. Early adoption is permitted. The standard also allows for early adoption of any removed or modified disclosures upon issuance of this ASU while delaying adoption of the additional disclosures until their effective date. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. EZAGOO LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020 (Currency expressed in United States Dollars (“US$”), except for number of shares)

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Basis of consolidated presentation</td></tr> </table> These consolidated financial statements, accompanying notes, and related disclosures have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). The Company’s fiscal year end is December 31. The Company’s financial statements are presented in U.S. dollars. The consolidated financial statements include the accounts of EZAGOO LIMITED and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Use of estimates</td></tr> </table> In preparing these consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheets and revenues and expenses during the periods reported. Actual results may differ from these estimates.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in">●</td> <td style="text-align: justify">Reclassification</td></tr> </table> Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Foreign currencies translation and re-measurement</td></tr> </table> 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 statements of operations and comprehensive income. The reporting currency of the Company is United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. In addition, the Company’s subsidiary in People’s Republic of China maintains its books and record in its local currency, Chinese Yuan (“RMB”), which is functional currency as being the primary currency of the economic environment in which the entity operates. 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 (loss) within the statements of stockholders’ deficit. Translation of amounts from RMB into US$1 has been made at the following exchange rates for the respective periods: SCHEDULE OF FOREIGN CURRENCY TRANSLATION OF EXCHANGE RATES <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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_499_20211231_ztOJqK2TiaA3" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20201231_zXVuOGBNDxTj" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of and for the year ended December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40C_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodEndMember_zqMAalCrzvo8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Period-end RMB: US$1 exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">6.36</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">6.53</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodAverageMember_zprVZdc50HY" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Period-average RMB: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.45</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.90</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodEndHKMember_z0Awy8ChigWi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Period-end HK$: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodAverageHKMember_z2Crl3NsGhdj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Period-average HK$: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodAverageHKMember_znN8qypvh8ll" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Period-end and Period-average CNY and HK$: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td></tr> </table>

Translation of amounts from RMB into US$1 has been made at the following exchange rates for the respective periods: SCHEDULE OF FOREIGN CURRENCY TRANSLATION OF EXCHANGE RATES <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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_499_20211231_ztOJqK2TiaA3" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20201231_zXVuOGBNDxTj" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of and for the year ended December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40C_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodEndMember_zqMAalCrzvo8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Period-end RMB: US$1 exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">6.36</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">6.53</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodAverageMember_zprVZdc50HY" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Period-average RMB: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.45</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.90</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodEndHKMember_z0Awy8ChigWi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Period-end HK$: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodAverageHKMember_z2Crl3NsGhdj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Period-average HK$: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_uPure_hus-gaap--AwardDateAxis__custom--PeriodAverageHKMember_znN8qypvh8ll" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Period-end and Period-average CNY and HK$: US$1 exchange rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.75</td><td style="text-align: left"> </td></tr> </table>

6.36

6.53

6.45

6.90

7.75

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Cash and cash equivalents</td></tr> </table> The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents.

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Account receivable</td></tr> </table> Account receivable are stated at the customer obligations due under normal trade terms net of allowance for doubtful accounts. EZAGOO LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020 (Currency expressed in United States Dollars (“US$”), except for number of shares)

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Property, plant and equipment</td></tr> </table> Property, plant and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method. Estimated useful lives of the property and equipment are as follows: SCHEDULE OF PLANT AND EQUIPMENT EXPECTED USEFUL LIVES <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: 25%">Office equipment </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 75%"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MinimumMember_zSD65ihSbc2f" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3-<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MaximumMember_z5Hrs1QGhvR8">5 years</td></tr> </table> The cost of maintenance and repairs is charged to expenses as incurred, whereas significant renewals and betterments are capitalized.

Property, plant and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method. Estimated useful lives of the property and equipment are as follows: SCHEDULE OF PLANT AND EQUIPMENT EXPECTED USEFUL LIVES <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: 25%">Office equipment </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 75%"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MinimumMember_zSD65ihSbc2f" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3-<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MaximumMember_z5Hrs1QGhvR8">5 years</td></tr> </table>

P3Y

P5Y

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Lease</td></tr> </table> The Company accounts for its leases in accordance with ASC 842 Leases. The Company leases office space. The Company concludes on whether an arrangement is a lease at inception. This determination as to whether an arrangement contains a lease is based on an assessment as to whether a contract conveys the right to the Company to control the use of identified property, plant or equipment for period of time in exchange for consideration. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes these lease expenses on a straight-line basis over the lease term. The Company has assessed its contracts and concluded that its leases consist of only operating leases. Operating leases are included in operating lease right-of-use (ROU) assets, current portion of operating lease liabilities, and operating lease liabilities in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company determines an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Revenue recognition </td></tr> </table> The Company assesses and follows the guidance of ASC 606, revenue from contracts with customers is recognized using the following five steps: <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: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">1.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Identify the contract(s) with a customer;</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: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">a. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The parties to the contract have approved the contract (in writing, orally, or in accordance with other customary business practices) and are committed to perform their respective obligations.</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">b. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The entity can identify each party’s rights regarding the services to be transferred.</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">c. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The entity can identify the payment terms for the services to be transferred.</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">d. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The contract has commercial substance (that is, the risk, timing, or amount of the entity’s future cash flows is expected to change as a result of the contract).</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">e. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">It is probable that the entity will collect substantially all of the consideration to which it will be entitled in exchange for the services that will be transferred to the customer.</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: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Identify the performance obligations in the contract;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.5in"> </td> <td style="text-align: justify; width: 0.25in"> </td> <td style="text-align: justify; width: 0.25in">a. </td> <td style="text-align: justify">According to the contract, the Company and Customer has to maintain the performance obligation, respectively.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify">b. </td> <td style="text-align: justify">The customer shall pay for the advertising services after signing of the contract and provide appropriate advertisement materials to the Company, the Company shall ensure the advertisement of the Customer is published according to the contract terms.</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: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">3.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Determine the transaction price;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">a. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">For the advertising contract, the transaction price is explicitly stated in fixed amount in the contract. There is no variable consideration, such as discounts, rebates, consideration payable to customer or noncash consideration. There was no price concession, and the Company did not expect any price concession for the service performed during the years ended December 31, 2021 and 2020.</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">b. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The contract does not contain any elements that would cause consideration under the arrangement to be variable (Examples include discounts, rebates, refunds, credits, incentives, tiered pricing, price guarantees, right of return, etc.). </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">c. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">There are no factors that exist whereby it is not probable that a significant reversal or revenues will not occur in the contract.</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: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">4.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Allocate the transaction price to the performance obligations in the contract; and</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">a. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">There were no multiple performance obligations to which the transaction price must be allocated, and each contract only has one performance obligation. The standalone selling price is explicated stated in the contract.</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: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">5.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Recognize revenue when (or as) the entity satisfies a performance obligation.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">a.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Per ASC 606, an entity shall recognize revenue when (or as) the entity satisfies a performance obligation by transferring a promised good or service (that is, an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset. </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">b.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Revenue is recognized when the advertising service is performed. According to the sample advertising contract, upon obtaining the signed contract from the Customer, the service period would be started. Therefore, the revenue is recognized when the service completely provided at that point in time.</td></tr> </table> Under Topic 606, revenues are recognized when the promised services have been confirmed and transferred to the consumers in amounts that reflect the consideration the customer expects to be entitled to in exchange for those services. The Company presents value added taxes (“VAT”) as reductions of revenues. The Company recognizes revenues net of value added taxes (“VAT”) and relevant charges. The Company’s revenue mainly from providing advertising services on urban bus in Changsha and the Xindian application that developed by the Company (“service revenue”).

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Cost of revenues</td></tr> </table> Cost of revenue includes bus media terminal rental fees, bus monitors maintenance fees, bus screen installation fees, internet data fees, cloud fees for storage use and the operating salaries for the staffs who running the Xindian application.

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Value-added taxes</td></tr> </table> Revenue is recognized net of value-added taxes (“VAT”). The VAT is based on gross sales price and VAT rates applicable to the Company is 6% for the year ended December 31, 2021 and 2020. All of the VAT returns filed by the Company’s subsidiaries in the PRC, have been and remain subject to examination by the PRC tax authorities for five years from the date of filing. VAT payables are included in accrued liabilities.

0.06

P5Y

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Income taxes</td></tr> </table> The Company followed the liability method of accounting for income taxes in accordance with ASC 740, Income Taxes, or ASC 740. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company recorded a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rate is recognized in tax expense in the period that includes the enactment date of the change in tax rate. The Company accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties related to unrecognizable tax benefit recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive loss as income tax expense. EZAGOO LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020 (Currency expressed in United States Dollars (“US$”), except for number of shares)

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Earnings per share</td></tr> </table> The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260, “Earnings per share”. Basic EPS is measured as the income or loss available to common shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common 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. Any potential common shares in 2021 and 2020 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.

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Commitments and contingencies</td></tr> </table> Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Related party transaction</td></tr> </table> A related party is generally defined as (i) any person that holds 10% or more of the Company’s securities and their immediate families, (ii) the Company’s management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated.

0.10

<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: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Recent accounting pronouncements</td></tr> </table> In January 2017, the FASB issued ASU 2017-04, “Intangibles — Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” which simplifies how an entity is required to test goodwill for impairment by eliminating step two from the goodwill impairment test. Step two of the goodwill impairment test measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with its carrying amount. The new guidance is effective prospectively but not applicable for us for the year ending December 31, 2021 and interim reporting periods during the year ending December 31, 2021. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We are evaluating the effects, if any, of the adoption of this guidance on our financial position, results of operations and cash flows. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. The new guidance modifies disclosure requirements related to fair value measurement. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. Early adoption is permitted. The standard also allows for early adoption of any removed or modified disclosures upon issuance of this ASU while delaying adoption of the additional disclosures until their effective date. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

4. PROPERTY, PLANT AND EQUIPMENT SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT <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> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20211231_zgBn1nrzjHJh" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20201231_ziLyXcjdxBi6" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzC79_zB1UaHwkAKgh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Office equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">42,332</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">42,332</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzC79_zWab3oNUTvn7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; 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 style="border-bottom: Black 1.5pt solid; text-align: right">(31,008</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">(20,202</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzC79_zD1YmuWx9QHb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Property, plant and equipment, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,324</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">22,130</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> Depreciation expense, classified as operating expenses, was $10,806 and $11,043 for the twelve months ended December 31, 2021 and December 31, 2020, respectively.

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT <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> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20211231_zgBn1nrzjHJh" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49F_20201231_ziLyXcjdxBi6" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzC79_zB1UaHwkAKgh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Office equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">42,332</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">42,332</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzC79_zWab3oNUTvn7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; 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 style="border-bottom: Black 1.5pt solid; text-align: right">(31,008</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">(20,202</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzC79_zD1YmuWx9QHb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Property, plant and equipment, net</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,324</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">22,130</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

42332

31008

20202

11324

22130

10806

11043

5. AMOUNT DUE FROM RELATED PARTY As of December 31, 2021 and 2020, the amount due from related party, Hunan Homestead Asset Management Co., Ltd., are $331,342 and $689,427, respectively. It was expected to be settle by the related party in the second quarter of year 2022.

331342

689427

6. DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES <p id="xdx_89D_ecustom--ScheduleOfDepositsPrepaymentsAndOtherReceivablesTableTextBlock_zyXXze3cYGbh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Deposits, prepayments and other receivables consisted of the following: SCHEDULE OF DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES <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> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20211231_zQW59CqXoV9b" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20201231_zCrUgVXZzOA" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40A_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iI_maDPAORzipQ_zAAHhpIbYT5f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; padding-bottom: 1.5pt">Prepayments</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">63,119</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">19,240</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </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 id="xdx_40A_ecustom--DepositsPrepaymnetsAndOtherReceivables_iTI_mtDPAORzipQ_zMeSx6fUBNf2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total deposits, prepayments and other receivables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">63,119</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">19,240</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> As of December 31, 2021, the balance $63,119 represented an outstanding prepayment which included rent prepayment, and housing funds. As of December 31, 2020, the balance $19,240 represented outstanding prepaid expenses which included, bus monitors maintenance fee, and employee receivables. <p id="xdx_89D_ecustom--ScheduleOfDepositsPrepaymentsAndOtherReceivablesTableTextBlock_zyXXze3cYGbh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Deposits, prepayments and other receivables consisted of the following: SCHEDULE OF DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES <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> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20211231_zQW59CqXoV9b" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_492_20201231_zCrUgVXZzOA" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40A_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iI_maDPAORzipQ_zAAHhpIbYT5f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; padding-bottom: 1.5pt">Prepayments</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">63,119</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">19,240</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--DepositsPrepaymnetsAndOtherReceivables_iTI_mtDPAORzipQ_zMeSx6fUBNf2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total deposits, prepayments and other receivables</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">63,119</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">19,240</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

63119

19240

63119 19240

63119

19240

7. ACCOUNT PAYABLE Account payable consisted of the following: SCHEDULE OF ACCOUNT PAYABLE <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> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20211231_zjm2urxl8qY7" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20201231_zIdrIvVFqBW7" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_400_eus-gaap--AccountsPayableCurrent_iI_maAPCANzMJt_zh22saTW0qB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1.5pt">Account payable</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">28,638</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">18,534</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </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 id="xdx_400_eus-gaap--AccountsPayableCurrentAndNoncurrent_iTI_mtAPCANzMJt_z8PkgDZrrl05" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">28,638</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,534</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> As of December 31, 2021 and 2020, our account payable are $28,638 and $18,534, respectively. The account payable balance is the payable to the vendors for bus screen terminal platform fee. The Company is going to settle the outstanding the second quarter of year 2022.

Account payable consisted of the following: SCHEDULE OF ACCOUNT PAYABLE <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> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20211231_zjm2urxl8qY7" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20201231_zIdrIvVFqBW7" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_400_eus-gaap--AccountsPayableCurrent_iI_maAPCANzMJt_zh22saTW0qB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1.5pt">Account payable</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">28,638</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">18,534</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </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 id="xdx_400_eus-gaap--AccountsPayableCurrentAndNoncurrent_iTI_mtAPCANzMJt_z8PkgDZrrl05" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">28,638</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">18,534</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

28638

18534

28638

18534

28638

18534

8. ACCRUAL, OTHER PAYABLE AND DEPOSITS RECEIVED Accrual, other payable and deposits received consisted of the following: SCHEDULE OF OTHER PAYABLE <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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20211231_zZeuO60OcFQe" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20201231_zf1TwFjB5v1b" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40B_eus-gaap--AccruedEmployeeBenefitsCurrentAndNoncurrent_iI_maOAPAAz1sC_z06WIzpLuo0e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Accrual</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">40,492</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">28,676</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccountsPayableOtherCurrentAndNoncurrent_iI_maOAPAAz1sC_z635di1n7GYg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">151,581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">157,448</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DepositLiabilityCurrent_iI_maOAPAAz1sC_zzVt150cxXa1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Deposits received from customers</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">59,062</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">336,594</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </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 id="xdx_405_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iTI_mtOAPAAz1sC_zrZ0Rod0MWd1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total other payable and accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">251,135</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">522,718</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> Accrual include the audit fee & other accrued expenses. Other payable include the PRC tax payable, social insurance fee and housing fund, salaries payable, and rent payable. Deposits received from customers are advertisement service fee paid in advance by customers. Accrual, other payable and deposits received consisted of the following: SCHEDULE OF OTHER PAYABLE <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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49E_20211231_zZeuO60OcFQe" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20201231_zf1TwFjB5v1b" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40B_eus-gaap--AccruedEmployeeBenefitsCurrentAndNoncurrent_iI_maOAPAAz1sC_z06WIzpLuo0e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Accrual</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">40,492</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">28,676</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccountsPayableOtherCurrentAndNoncurrent_iI_maOAPAAz1sC_z635di1n7GYg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">151,581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">157,448</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DepositLiabilityCurrent_iI_maOAPAAz1sC_zzVt150cxXa1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Deposits received from customers</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">59,062</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">336,594</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </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 id="xdx_405_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iTI_mtOAPAAz1sC_zrZ0Rod0MWd1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total other payable and accrued liabilities</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">251,135</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">522,718</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

40492

28676

151581

157448

59062

336594

251135

522718

9. DEFERRED REVENUE SCHEDULE OF DEFERRED REVENUE <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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20211231_zeKBmieArUjj" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20201231_zvLM2BcqqSYg" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_403_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_maDRzNdp_zR0ZmjihvNY1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1.5pt">Deferred revenue</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">111,388</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">1,585,905</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </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 id="xdx_409_eus-gaap--DeferredRevenueCurrent_iTI_mtDRzNdp_zgYMzfZGf9jh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total deferred revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">111,388</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,585,905</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> As of December 31, 2021 and 2020, our deferred revenue are $111,388 and $1,585,905, respectively. These deferred revenues were expected to be recognized as revenue on or before the second quarter of year 2022.

SCHEDULE OF DEFERRED REVENUE <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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_494_20211231_zeKBmieArUjj" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20201231_zvLM2BcqqSYg" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_403_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_maDRzNdp_zR0ZmjihvNY1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1.5pt">Deferred revenue</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">111,388</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">1,585,905</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </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 id="xdx_409_eus-gaap--DeferredRevenueCurrent_iTI_mtDRzNdp_zgYMzfZGf9jh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Total deferred revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">111,388</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,585,905</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

111388

1585905

111388

1585905

111388

1585905

10. AMOUNT DUE TO DIRECTOR For the years ended December 31, 2021 and 2020, a director of the Company advanced $29,174 and $35,107 to the Company, which is unsecured, interest-free with no fixed payment term, for working capital purpose. EZAGOO LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020 (Currency expressed in United States Dollars (“US$”), except for number of shares)

29174

35107

11. AMOUNT DUE TO RELATED PARTIES SCHEDULE OF DUE TO RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Amount due to related party B</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyBMember_zWGNyd0BcHng" style="width: 14%; text-align: right" title="Amount due to related party N">234,307</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyBMember_zDnrKswJOCsg" style="width: 14%; text-align: right" title="Amount due to related party N">228,079</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party C</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyCMember_zJCJcXu9qsfa" style="text-align: right" title="Amount due to related party N">25,364</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyCMember_zejmEupozoc9" style="text-align: right" title="Amount due to related party N">24,690</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amount due to related party D</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyDMember_z3GsTW5YIOL7" style="text-align: right" title="Amount due to related party N">27,288</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyDMember_zQtmbCnbPI6l" style="text-align: right" title="Amount due to related party N">16,849</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party E</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyEMember_zHGRUNxYapq7" style="text-align: right" title="Amount due to related party N">134,591</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyEMember_zv714OW0KEM3" style="text-align: right" title="Amount due to related party N">131,013</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amount due to related party G</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyGMember_zzVuJnfH9FG9" style="text-align: right" title="Amount due to related party N">286,759</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyGMember_zKBqBi65ZCUg" style="text-align: right" title="Amount due to related party N">279,137</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party H</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyHMember_zelAVcZhWv13" style="text-align: right" title="Amount due to related party N">8,138</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyHMember_zRO1YVivBxm2" style="text-align: right" title="Amount due to related party N">7,922</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amount due to related party I</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyIMember_zw7iBcUdsDy1" style="text-align: right" title="Amount due to related party N">4,835</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyIMember_z4WhcvsoWbLa" style="text-align: right" title="Amount due to related party N">1,559</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party J</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyJMember_zc8xKHNzIfT2" style="text-align: right" title="Amount due to related party N">291,105</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyJMember_zLh8pp7ITy35" style="text-align: right" title="Amount due to related party N">222,099</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amount due to related party K</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyKMember_z6JUz98NaoYb" style="text-align: right" title="Amount due to related party N">42,486</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyKMember_zqDlMbZMEsu3" style="text-align: right" title="Amount due to related party N">41,356</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party L</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyLMember_zwSbe4gTDeRg" style="text-align: right" title="Amount due to related party N">20,893</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyLMember_zQjBoTo99xvk" style="text-align: right" title="Amount due to related party N">14,668</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amount due to related party M</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyMMember_zgV4y7bo7o3d" style="text-align: right" title="Amount due to related party N">463,892</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--DueToRelatedParties_iI_pp0p0_d0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyMMember_zSBjxWPD1763" style="text-align: right" title="Amount due to related party N">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party N</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyNMember_zDANvTsPz2qi" style="text-align: right" title="Amount due to related party N">162,852</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DueToRelatedParties_iI_pp0p0_d0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyNMember_zpMakwIqhLn5" style="text-align: right" title="Amount due to related party N">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Amount due to related party O</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td id="xdx_984_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyOMember_zzetTMdc7MPg" style="padding-bottom: 1.5pt; text-align: right" title="Amount due to related party N">70,809</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 id="xdx_98A_ecustom--DueToRelatedParties_iI_pp0p0_d0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyOMember_zFiZp5f6d1Zf" style="padding-bottom: 1.5pt; text-align: right" title="Amount due to related party N">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Amount due to related party P</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--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyPMember_zTY1KE2eOSA7" style="border-bottom: Black 1.5pt solid; text-align: right">35,122</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_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyPMember_zSFKlOiw2N3d" style="border-bottom: Black 1.5pt solid; text-align: right">-</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="padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98A_ecustom--DueToRelatedParties_iI_pp0p0_c20211231_z66EIE8enuPj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Amount due to related party">1,808,441</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_986_ecustom--DueToRelatedParties_iI_pp0p0_c20201231_zC9RX6Ki0dsg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Amount due to related party">967,372</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> Related party B is Hunan Ezagoo Shopping Co. Ltd., Hunan Homestead Asset Management Co., Ltd. is a shareholder of Hunan Ezagoo Shopping Co. Ltd, which is <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyBMember__srt--TitleOfIndividualAxis__custom--ChengfuTanMember_zSbT3xPL3lv2">100% owned by Chengfu Tan, who is Xiaohao Tan’s Father.For the years ended ended December 31, 2021 and 2020, related party B advanced $234,307 and $228,079 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party C is Ms. Weihong Wan, Assistant and Secretary of Mr. Xiaohao Tan. Ms. Weihong Wan is a shareholder and Legal Company Representative of Ruiyin (Shenzhen) Financial Leasing Limited. For the years ended ended December 31, 2021 and 2020, related party C advanced $25,364 and $24,690 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party D is Ms. Qianwen Zhang, the wife of Mr. Xiaohao Tan. Ms. Qianwen Zhang is also the Legal Company Representative of Beijing Ezagoo Zhicheng Internet Technology Limited. For the years ended December 31, 2021 and 2020, related party D advanced $27,288 and $16,849 to the Company as working capital, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party E is Changsha Kexibeier E-commerce Limited, Mr. Cheng Zhang is the Legal Company Representative of the Changsha Kexibeier E-commerce Limited, and a key management of the Company. For the years ended December 31, 2021 and 2020, related party E advanced $134,591 and $131,013 to the Company as working capital, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party G is Kuaile Motors Camping Site Investment Development Limited. It’s owns <span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyGMember__srt--TitleOfIndividualAxis__custom--MrXiaohaoTanMember_zkQHvHRrFqvc">92% and <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyGMember__srt--TitleOfIndividualAxis__custom--MsQianwenZhangAndMrXiaohaoTanMember_zSDWzAdla5W5">8% by Mr. Xiaohao Tan and Ms. Qianwen Zhang, the wife of Mr. Xiaohao Tan, respectively. Ms. Qianwen Zhang is also the legal Company Representative of this company. For the years ended December 31, 2021 and 2020, related party G advanced $286,759 and $279,137 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party H is Hunan Yijiaren Hotel Limited, it’s owns <span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyHMember__dei--LegalEntityAxis__custom--BeijingEzagooZhichengInternetTechnologyLimitedMember_zf6rMfDnM3he">90% and <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyHMember__srt--TitleOfIndividualAxis__custom--MsQianwenZhangAndMrXiaohaoTanMember_zx6bDqmAXEDj">10% by Beijing Ezagoo Zhicheng Internet Technology Limited and Ms. Qianwen Zhang, the wife of Mr. Xiaohao Tan, respectively. For the years ended December 31, 2021 and 2020, related party H advanced $8,138 and $7,922 to the Company as working capital, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party I is Hunan Bright Lionrock Mountain Resort Limited. Beijing Ezagoo Industrial Development Group Holding Limited, which is a shareholder of Beijing Ezagoo Zhicheng Internet Technology Limited, owns <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyIMember__srt--TitleOfIndividualAxis__custom--MrXiaohaoTanMember_zKFEfgAgAuX7">80% of Hunan Bright Lionrock Mountain Resort Limited. Mr. Xiao Hao Tan is the Legal Company Representative of this Company. For the years ended December 31, 2021 and 2020, related party I advanced $4,835 and $1,559 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party J is Beijing Ezagoo Industrial Development Group Holding Limited. It is a shareholder of Beijing Ezagoo Zhicheng Internet Technology Limited, and Mr. Xiaohao Tan owns 75% of related party J. For the years ended December 31, 2021 and 2020, related party J advanced $291,105 and $222,099 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party K is Ruiyin (Shenzhen) Financial Leasing Limited. Weihong Wan, Assistant and Secretary of Xiaohao Tan, is a Legal Company Representative of related party K. For the years ended December 31, 2021 and 2020, related party K advanced $42,486 and $41,356 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party L is Ezagoo B&R (HongKong) Industry Development Group Limited, which is a shareholder of Beijing Ezagoo Industrial Development Group Holding Limited, owns <span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyLMember__dei--LegalEntityAxis__custom--EzagooBAndRIndustryDevelopmentGroupLimitedMember_zUpyOwCkOtLb">100% of Ezagoo B&R (HongKong) Industry Development Group Limited. Mr. Xiao Hao Tan is the Legal Company Representative of this company. For the year ended December 31, 2021 and 2020, related party L advanced $20,893 and $14,668 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party M is Hunan Ezagoo Film Co., Limited, which <span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__srt--TitleOfIndividualAxis__custom--MrXiaohaoTanMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyMMember_zYtuN5c6lm">85% of its equity is owned by Mr. Xiao Hao Tan, he is the director of the Company. As of December 31, 2021 and 2020, the Company has $463,892 and $0 advertising production cost payable to related party M, which is unsecured, interest-free with no fixed payment term. Related party N is Hunan Wancheng Xingyi Industrial Development Co., Limited, which <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyNMember__srt--TitleOfIndividualAxis__custom--MrXiaohaoTanMember_z7Ik53wqn74j">100% of its equity is owned by Mr. Xiao Hao Tan, he is the director of the Company. As of December 31, 2021 and 2020, related party N advanced $162,852 and $0 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party O is Hunan Little Penguin Culture Communication Co., Limited, which <span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__dei--LegalEntityAxis__custom--LittlePenguinCultureCommunicationCoLimitedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyJMember_zTHopk9DskJ5">95% and <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__dei--LegalEntityAxis__custom--LittlePenguinCultureCommunicationCoLimitedMember__srt--TitleOfIndividualAxis__custom--MrXiaohaoTanMember_zIwdyAi2Guq3">5% of its equity is owned by related party J and Mr. Xiao Hao Tan, respectively. And Mr. Xiaohao Tan is the director of the Company. As of December 31, 2021 and 2020, related party N advanced $<span id="xdx_90E_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__srt--TitleOfIndividualAxis__custom--MrXiaohaoTanMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyNMember_zUTyPBdtBv9j">70,809 and $<span id="xdx_909_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__srt--TitleOfIndividualAxis__custom--MrXiaohaoTanMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyNMember_zQdfjZ2A3SF2">0 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose. Related party P is Hunan Yuancheng Shengwang Marketing Co., Limited, which <span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20211231__dei--LegalEntityAxis__custom--HunanWanchengXingyiIndustrialDevelopmentCoLimitedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyPMember_zXVoDqpXxpv9">82% of its equity is owned by related party J, Beijing Ezagoo Industrial Development Group Holding Limited. As of December 31, 2021 and 2020, related party P advanced $35,122 and $0 to the Company as working capital and to pay administrative expenses, which is unsecured, interest-free with no fixed payment term, for working capital purpose. During the year ended December 31, 2021, related parties imputed interest was $29,603, and related party cost of revenue of $620,435. EZAGOO LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020 (Currency expressed in United States Dollars (“US$”), except for number of shares)

SCHEDULE OF DUE TO RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Amount due to related party B</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyBMember_zWGNyd0BcHng" style="width: 14%; text-align: right" title="Amount due to related party N">234,307</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyBMember_zDnrKswJOCsg" style="width: 14%; text-align: right" title="Amount due to related party N">228,079</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party C</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyCMember_zJCJcXu9qsfa" style="text-align: right" title="Amount due to related party N">25,364</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyCMember_zejmEupozoc9" style="text-align: right" title="Amount due to related party N">24,690</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amount due to related party D</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyDMember_z3GsTW5YIOL7" style="text-align: right" title="Amount due to related party N">27,288</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyDMember_zQtmbCnbPI6l" style="text-align: right" title="Amount due to related party N">16,849</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party E</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyEMember_zHGRUNxYapq7" style="text-align: right" title="Amount due to related party N">134,591</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyEMember_zv714OW0KEM3" style="text-align: right" title="Amount due to related party N">131,013</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amount due to related party G</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyGMember_zzVuJnfH9FG9" style="text-align: right" title="Amount due to related party N">286,759</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyGMember_zKBqBi65ZCUg" style="text-align: right" title="Amount due to related party N">279,137</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party H</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyHMember_zelAVcZhWv13" style="text-align: right" title="Amount due to related party N">8,138</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyHMember_zRO1YVivBxm2" style="text-align: right" title="Amount due to related party N">7,922</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amount due to related party I</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyIMember_zw7iBcUdsDy1" style="text-align: right" title="Amount due to related party N">4,835</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyIMember_z4WhcvsoWbLa" style="text-align: right" title="Amount due to related party N">1,559</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party J</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyJMember_zc8xKHNzIfT2" style="text-align: right" title="Amount due to related party N">291,105</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyJMember_zLh8pp7ITy35" style="text-align: right" title="Amount due to related party N">222,099</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amount due to related party K</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyKMember_z6JUz98NaoYb" style="text-align: right" title="Amount due to related party N">42,486</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyKMember_zqDlMbZMEsu3" style="text-align: right" title="Amount due to related party N">41,356</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party L</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyLMember_zwSbe4gTDeRg" style="text-align: right" title="Amount due to related party N">20,893</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyLMember_zQjBoTo99xvk" style="text-align: right" title="Amount due to related party N">14,668</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amount due to related party M</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyMMember_zgV4y7bo7o3d" style="text-align: right" title="Amount due to related party N">463,892</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--DueToRelatedParties_iI_pp0p0_d0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyMMember_zSBjxWPD1763" style="text-align: right" title="Amount due to related party N">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to related party N</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyNMember_zDANvTsPz2qi" style="text-align: right" title="Amount due to related party N">162,852</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--DueToRelatedParties_iI_pp0p0_d0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyNMember_zpMakwIqhLn5" style="text-align: right" title="Amount due to related party N">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Amount due to related party O</td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td id="xdx_984_ecustom--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyOMember_zzetTMdc7MPg" style="padding-bottom: 1.5pt; text-align: right" title="Amount due to related party N">70,809</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 id="xdx_98A_ecustom--DueToRelatedParties_iI_pp0p0_d0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyOMember_zFiZp5f6d1Zf" style="padding-bottom: 1.5pt; text-align: right" title="Amount due to related party N">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Amount due to related party P</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--DueToRelatedParties_iI_pp0p0_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyPMember_zTY1KE2eOSA7" style="border-bottom: Black 1.5pt solid; text-align: right">35,122</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_ecustom--DueToRelatedParties_iI_pp0p0_c20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RelatedPartyPMember_zSFKlOiw2N3d" style="border-bottom: Black 1.5pt solid; text-align: right">-</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="padding-bottom: 1.5pt">Total</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98A_ecustom--DueToRelatedParties_iI_pp0p0_c20211231_z66EIE8enuPj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Amount due to related party">1,808,441</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_986_ecustom--DueToRelatedParties_iI_pp0p0_c20201231_zC9RX6Ki0dsg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Amount due to related party">967,372</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

234307 228079 25364 24690 27288 16849 134591 131013 286759 279137 8138 7922 4835 1559 291105 222099 42486 41356 20893 14668 463892 -0 162852 -0 70809 -0 35122 1808441 967372

234307 228079 25364 24690 27288 16849 134591 131013

0.92

0.08

286759 279137

0.90

0.10

8138 7922

0.80

4835 1559

0.75

291105 222099 42486 41356

20893 14668

0.85

463892 0

162852 0

0.95

0.05

70809 0

0.82

35122 29603

620435

12. INCOME TAXES For the years ended December 31, 2021 and December 31, 2020, the local (United States) and foreign components of income (loss) before income taxes were comprised of the following: SCHEDULE OF LOCAL AND FOREIGN COMPONENTS OF INCOME (LOSS) BEFORE INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax jurisdictions from:</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"/><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"/><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%">- Local</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pp0p0_c20210101__20211231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zymLbdOf30Dh" style="width: 14%; text-align: right" title="Local">(83,684</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--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pp0p0_c20200101__20201231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zRuhNIk0yGzc" style="width: 14%; text-align: right" title="Local">(49,364</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: left">- Foreign, representing</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="padding-left: 10pt">Seychelles</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pdp0_c20210101__20211231__srt--StatementGeographicalAxis__country--SC_zKcyr2wX4yLd" style="text-align: right" title="Foreign">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pdp0_c20200101__20201231__srt--StatementGeographicalAxis__country--SC_zYoqi3ZAvcpi" style="text-align: right" title="Foreign">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Hong Kong</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pp0p0_c20210101__20211231__srt--StatementGeographicalAxis__country--HK_zGkMp7VsFtg" style="text-align: right" title="Foreign">(1,301</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pp0p0_c20200101__20201231__srt--StatementGeographicalAxis__country--HK_zU7bZbVnm1b6" style="text-align: right" title="Foreign">(625</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">China</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--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pp0p0_c20210101__20211231__srt--StatementGeographicalAxis__country--CN_zv9T0relXyLa" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">360,973</td><td style="padding-bottom: 1.5pt; text-align: left"/><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--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pp0p0_c20200101__20201231__srt--StatementGeographicalAxis__country--CN_zBZ9cBGOuqGg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(633,852</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </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: left; padding-bottom: 1.5pt">Income (loss) before income tax</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_986_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pp0p0_c20210101__20211231__us-gaap--IncomeTaxAuthorityAxis__custom--StateLocalAndForeignJurisdictionMember_zFUxvT2ubTi6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Income/(loss) before income tax">275,988</td><td style="padding-bottom: 1.5pt; text-align: left"/><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pp0p0_c20200101__20201231__us-gaap--IncomeTaxAuthorityAxis__custom--StateLocalAndForeignJurisdictionMember_zKVi2Oga25bc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Income/(loss) before income tax">(683,841</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> </table> The provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Current:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"/><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"/><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>- Local</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_pdp0_c20210101__20211231_z4FBvbxqkBXd" style="text-align: right" title="Current: Local">21,348</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_pdp0_c20200101__20201231_zaRHWCIz5JFf" style="text-align: right" title="Current: Local">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>- Foreign</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--CurrentForeignTaxExpenseBenefit_pdp0_c20210101__20211231_zANIHM3MGdsl" style="text-align: right" title="Current: Foreign">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--CurrentForeignTaxExpenseBenefit_pdp0_c20200101__20201231_zKKiiJTlOlQ4" style="text-align: right" title="Current: Foreign">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </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>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></tr> <tr style="vertical-align: bottom; background-color: White"> <td>- Local</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_pdp0_c20210101__20211231_z82Ho6TZ6kMl" style="text-align: right" title="Deferred: Local">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_pdp0_c20200101__20201231_zEVneHFTqrM6" style="text-align: right" title="Deferred: Local">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="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_98A_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_pdp0_c20210101__20211231_z04Pp6uDsjC1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Deferred: Foreign">-</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_983_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_pdp0_c20200101__20201231_zZusfajgPAI" style="border-bottom: Black 1.5pt solid; text-align: right" title="Deferred: Foreign">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </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: left; padding-bottom: 1.5pt">Income tax expense</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--IncomeTaxExpenseBenefit_pdp0_c20210101__20211231_zdXGm2cddeti" style="border-bottom: Black 1.5pt solid; text-align: right">21,348</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--IncomeTaxExpenseBenefit_pdp0_c20200101__20201231_z8iQSFewBNw6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Income tax expense">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> Effective and Statutory Rate Reconciliation The following table summarizes a reconciliation of the Company’s blended statutory income tax rate to the Company’s effective tax rate as a percentage of income from continuing operations before taxes: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION <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: left; padding-bottom: 1.5pt"> </td><td style="display: none; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; display: none; text-align: left"> </td><td id="xdx_495_20210101__20211231_zUYSe5gnEI81" style="border-bottom: Black 1.5pt solid; display: none; text-align: right"> </td><td style="display: none; padding-bottom: 1.5pt; text-align: left"> </td><td style="display: none; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; display: none; text-align: left"> </td><td id="xdx_495_20200101__20201231_zn9lepv3n46" style="border-bottom: Black 1.5pt solid; display: none; text-align: right"> </td><td style="display: none; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_z40rWaZ6cgU6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Statutory tax rate:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">21.0</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">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_dpi_zQeRa9sQIkx1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Change in income tax valuation allowance</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">(21.0</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">(21.0</td><td style="padding-bottom: 1.5pt; text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </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 id="xdx_405_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_z7w0H3MrfGT5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Effective tax rate</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">0.0</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">0.0</td><td style="padding-bottom: 1.5pt; 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 has subsidiaries that operate in various countries: United States, Seychelles, Hong Kong and China that are subject to taxes in the jurisdictions in which they operate, as follows: United States of America The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America and the tax rate is 21%. As of December 31, 2021 the operations in the United States of America incurred $83,684 of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss carryforwards begin to expire in 2039, if unutilized. The Company has provided for a full valuation allowance of $0 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future. Seychelles Under the current laws of the Seychelles, Ezagoo Holding Limited is registered as an international business company which governs by the International Business Companies Act of Seychelles and there is no income tax charged in Seychelles. Hong Kong Ezagoo (HK) Limited is subject to Hong Kong Profits Tax, which is charged at the statutory income rate of 16.5% on its assessable income. People’s Republic of China Changsha Ezagoo Technology Limited, Beijing Ezagoo Zhicheng Internet Technology Limited and its Changsha Branch company are operating in the People’s Republic of China (“PRC”) subject to the Corporate Income Tax governed by the Income Tax Law of the People’s Republic of China with a unified statutory income tax rate of 25%. During the year ended December 31, 2021, the operations in People’s Republic of China generated the net income of $360,973 which can be used to offset the brought forwards accumulated losses in the previous 5 years that started from year 2020 to year 2016. SCHEDULE OF DEFERRED TAX ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"/><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"/><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net operating loss carryforwards</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="width: 64%; text-align: left">– United States of America</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20211231__srt--StatementGeographicalAxis__country--US_znIp3PWlt29" style="width: 14%; text-align: right" title="Net operating loss carryforwards">32,526</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--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20201231__srt--StatementGeographicalAxis__country--US_zeNMtF2MVB8k" style="width: 14%; text-align: right" title="Net operating loss carryforwards">14,953</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">– Hong Kong</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20211231__srt--StatementGeographicalAxis__country--HK_zJtZ4qZoLw6e" style="text-align: right" title="Net operating loss carryforwards">4,186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20201231__srt--StatementGeographicalAxis__country--HK_zX8mgwacmJbd" style="text-align: right" title="Net operating loss carryforwards">3,971</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">– The PRC</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--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20211231__srt--StatementGeographicalAxis__country--CN_zww5FjWt5b5l" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net operating loss carryforwards">594,144</td><td style="padding-bottom: 1.5pt; text-align: left"/><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20201231__srt--StatementGeographicalAxis__country--CN_zLUrbneHe4H8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net operating loss carryforwards">684,387</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20211231_zooFealalgX8" style="text-align: right" title="Net operating loss carryforwards">630,856</td><td style="text-align: left"/><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20201231_zCPpjyCIecn2" style="text-align: right" title="Net operating loss carryforwards">703,311</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_c20211231_zbe89eSQUHZk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Valuation allowance">(630,856</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--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_c20201231_zednaMjt2kGi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Valuation allowance">(703,311</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Deferred tax assets</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--DeferredTaxAssetsNet_iI_pdp0_c20211231_zXiYYWojD9Ai" style="border-bottom: Black 1.5pt solid; text-align: right" title="Deferred tax assets, net of valuation allowance">-</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">$</td><td id="xdx_982_eus-gaap--DeferredTaxAssetsNet_c20201231_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Deferred tax assets, net of valuation allowance">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> EZAGOO LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020 (Currency expressed in United States Dollars (“US$”), except for number of shares)

For the years ended December 31, 2021 and December 31, 2020, the local (United States) and foreign components of income (loss) before income taxes were comprised of the following: SCHEDULE OF LOCAL AND FOREIGN COMPONENTS OF INCOME (LOSS) BEFORE INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax jurisdictions from:</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"/><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"/><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%">- Local</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pp0p0_c20210101__20211231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zymLbdOf30Dh" style="width: 14%; text-align: right" title="Local">(83,684</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--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pp0p0_c20200101__20201231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zRuhNIk0yGzc" style="width: 14%; text-align: right" title="Local">(49,364</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: left">- Foreign, representing</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="padding-left: 10pt">Seychelles</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pdp0_c20210101__20211231__srt--StatementGeographicalAxis__country--SC_zKcyr2wX4yLd" style="text-align: right" title="Foreign">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pdp0_c20200101__20201231__srt--StatementGeographicalAxis__country--SC_zYoqi3ZAvcpi" style="text-align: right" title="Foreign">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Hong Kong</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pp0p0_c20210101__20211231__srt--StatementGeographicalAxis__country--HK_zGkMp7VsFtg" style="text-align: right" title="Foreign">(1,301</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pp0p0_c20200101__20201231__srt--StatementGeographicalAxis__country--HK_zU7bZbVnm1b6" style="text-align: right" title="Foreign">(625</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt">China</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--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pp0p0_c20210101__20211231__srt--StatementGeographicalAxis__country--CN_zv9T0relXyLa" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">360,973</td><td style="padding-bottom: 1.5pt; text-align: left"/><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--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_pp0p0_c20200101__20201231__srt--StatementGeographicalAxis__country--CN_zBZ9cBGOuqGg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign">(633,852</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </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: left; padding-bottom: 1.5pt">Income (loss) before income tax</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_986_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pp0p0_c20210101__20211231__us-gaap--IncomeTaxAuthorityAxis__custom--StateLocalAndForeignJurisdictionMember_zFUxvT2ubTi6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Income/(loss) before income tax">275,988</td><td style="padding-bottom: 1.5pt; text-align: left"/><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98B_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pp0p0_c20200101__20201231__us-gaap--IncomeTaxAuthorityAxis__custom--StateLocalAndForeignJurisdictionMember_zKVi2Oga25bc" style="border-bottom: Black 1.5pt solid; text-align: right" title="Income/(loss) before income tax">(683,841</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> </table>

-83684

-49364

-1301

-625

360973

-633852

275988

-683841

The provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Current:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"/><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"/><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>- Local</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_pdp0_c20210101__20211231_z4FBvbxqkBXd" style="text-align: right" title="Current: Local">21,348</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_pdp0_c20200101__20201231_zaRHWCIz5JFf" style="text-align: right" title="Current: Local">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>- Foreign</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--CurrentForeignTaxExpenseBenefit_pdp0_c20210101__20211231_zANIHM3MGdsl" style="text-align: right" title="Current: Foreign">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--CurrentForeignTaxExpenseBenefit_pdp0_c20200101__20201231_zKKiiJTlOlQ4" style="text-align: right" title="Current: Foreign">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </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>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></tr> <tr style="vertical-align: bottom; background-color: White"> <td>- Local</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_pdp0_c20210101__20211231_z82Ho6TZ6kMl" style="text-align: right" title="Deferred: Local">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_pdp0_c20200101__20201231_zEVneHFTqrM6" style="text-align: right" title="Deferred: Local">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="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_98A_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_pdp0_c20210101__20211231_z04Pp6uDsjC1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Deferred: Foreign">-</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_983_eus-gaap--DeferredForeignIncomeTaxExpenseBenefit_pdp0_c20200101__20201231_zZusfajgPAI" style="border-bottom: Black 1.5pt solid; text-align: right" title="Deferred: Foreign">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </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: left; padding-bottom: 1.5pt">Income tax expense</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--IncomeTaxExpenseBenefit_pdp0_c20210101__20211231_zdXGm2cddeti" style="border-bottom: Black 1.5pt solid; text-align: right">21,348</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--IncomeTaxExpenseBenefit_pdp0_c20200101__20201231_z8iQSFewBNw6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Income tax expense">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

21348

The following table summarizes a reconciliation of the Company’s blended statutory income tax rate to the Company’s effective tax rate as a percentage of income from continuing operations before taxes: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION <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: left; padding-bottom: 1.5pt"> </td><td style="display: none; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; display: none; text-align: left"> </td><td id="xdx_495_20210101__20211231_zUYSe5gnEI81" style="border-bottom: Black 1.5pt solid; display: none; text-align: right"> </td><td style="display: none; padding-bottom: 1.5pt; text-align: left"> </td><td style="display: none; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; display: none; text-align: left"> </td><td id="xdx_495_20200101__20201231_zn9lepv3n46" style="border-bottom: Black 1.5pt solid; display: none; text-align: right"> </td><td style="display: none; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_dp_z40rWaZ6cgU6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Statutory tax rate:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">21.0</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">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_401_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_dpi_zQeRa9sQIkx1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Change in income tax valuation allowance</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">(21.0</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">(21.0</td><td style="padding-bottom: 1.5pt; text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </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 id="xdx_405_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_z7w0H3MrfGT5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Effective tax rate</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">0.0</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">0.0</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr> </table>

0.210

0.000

0.21

83684

0.25

360973

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> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"/><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"/><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net operating loss carryforwards</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="width: 64%; text-align: left">– United States of America</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20211231__srt--StatementGeographicalAxis__country--US_znIp3PWlt29" style="width: 14%; text-align: right" title="Net operating loss carryforwards">32,526</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--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20201231__srt--StatementGeographicalAxis__country--US_zeNMtF2MVB8k" style="width: 14%; text-align: right" title="Net operating loss carryforwards">14,953</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">– Hong Kong</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20211231__srt--StatementGeographicalAxis__country--HK_zJtZ4qZoLw6e" style="text-align: right" title="Net operating loss carryforwards">4,186</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20201231__srt--StatementGeographicalAxis__country--HK_zX8mgwacmJbd" style="text-align: right" title="Net operating loss carryforwards">3,971</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">– The PRC</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--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20211231__srt--StatementGeographicalAxis__country--CN_zww5FjWt5b5l" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net operating loss carryforwards">594,144</td><td style="padding-bottom: 1.5pt; text-align: left"/><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_980_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20201231__srt--StatementGeographicalAxis__country--CN_zLUrbneHe4H8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Net operating loss carryforwards">684,387</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20211231_zooFealalgX8" style="text-align: right" title="Net operating loss carryforwards">630,856</td><td style="text-align: left"/><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--DeferredTaxAssetsOperatingLossCarryforward_iI_pp0p0_c20201231_zCPpjyCIecn2" style="text-align: right" title="Net operating loss carryforwards">703,311</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Less: valuation allowance</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_c20211231_zbe89eSQUHZk" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Valuation allowance">(630,856</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--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_c20201231_zednaMjt2kGi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Less: Valuation allowance">(703,311</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Deferred tax assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_980_eus-gaap--DeferredTaxAssetsNet_iI_pdp0_c20211231_zXiYYWojD9Ai" style="border-bottom: Black 1.5pt solid; text-align: right" title="Deferred tax assets, net of valuation allowance">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--DeferredTaxAssetsNet_c20201231_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Deferred tax assets, net of valuation allowance">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

32526 14953 4186 3971 594144 684387 630856 703311

630856

703311

13. CONCENTRATIONS OF RISK (a) Major customers For the year ended December 31, 2021, the customers who accounted for more than <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zcIKEybAbpOi">10% of the Company’s revenues and the accounts receivable balances at period-end are presented as follows: SCHEDULE OF MAJOR CUSTOMERS AND MAJOR VENDORS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31, 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2021</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Revenues</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Percentage of revenues</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts receivable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1.5pt">Customer J</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerJMember_zxHStyaOiWI7" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Revenues">192,989</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right"> <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--CustomerJMember_zDcietoDLKak">9</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">%</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right"> <span id="xdx_908_eus-gaap--AccountsPayableCurrent_iI_c20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerJMember_zSGDyLpDzuYi">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Total:</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zzPsLkjQVy67" style="border-bottom: Black 1.5pt solid; text-align: right" title="Revenues">192,989</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TotalCustomerMember_zYHVvx1pol84" style="border-bottom: Black 1.5pt solid; text-align: right" title="Percentage of revenues/purchases">9</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zDi9JMzi6O53" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accounts payable">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> For the year ended December 31, 2020, the customers who accounted for more than <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zrHTZuoLff3a">10% of the Company’s revenues and the accounts receivable balances at period-end are presented 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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31, 2020</td><td style="padding-bottom: 1.5pt"> </td><td style="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="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Revenues</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Percentage of revenues</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts receivable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Customer J</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerJMember_zzN7IS3x9qtk" style="width: 14%; text-align: right" title="Revenues">41,180</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--CustomerJMember_zrWtt4eojcz5" style="width: 14%; text-align: right" title="Percentage of revenues/purchases">18</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerJMember_zwkcvhNpOyak" 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: left; padding-bottom: 1.5pt">Customer K-related party</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--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerKRelatedPartyMember_z4xRLUzffL34" style="border-bottom: Black 1.5pt solid; text-align: right" title="Revenues">25,009</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--ConcentrationRiskPercentage1_pid_dp_uPure_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--CustomerKRelatedPartyMember_zeR2n8zyZIr1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Percentage of revenues/purchases">11</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"> <span id="xdx_90B_eus-gaap--AccountsPayableCurrent_iI_c20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerKRelatedPartyMember_z1Swv4VTRIr5">-</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:</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z5OIkcOZ1Zvb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Revenues">66,189</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TotalCustomerMember_zs8hvCJmyTQb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Percentage of revenues/purchases">29</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zi6nFcoUVgq" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> The related party revenues are $<span id="xdx_90B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20211231__us-gaap--RelatedPartyTransactionAxis__custom--RelatedPartyMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z31mPpRHeJSa" title="Revenue">0 and $<span id="xdx_904_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20201231__us-gaap--RelatedPartyTransactionAxis__custom--RelatedPartyMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zCUdliSG7jh7" title="Revenue">33,755 for the year ended December 31, 2021 and 2020, respectively. (b) Major vendors For the year ended December 31, 2021, the vendors who accounted for <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorMember_znLqz96hukN9">10% or more of the Company’s cost of revenues and its accounts payable balance at period-end are presented 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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31, 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2021</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Percentage of purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount due to related party</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1.5pt">Vendor H-related party</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--CostOfRevenue_pp0p0_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorHRelatedPartyMember_zXvTuUQLZfd3" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">620,435</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right"> <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorHRelatedPartyMember_zuZQqza7q3s4">80</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">%</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorHRelatedPartyMember_zjsl8KalnQG2" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Accounts payable"> 463,892</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Total:</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--CostOfRevenue_pp0p0_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember_zVEnlcrcwaS" style="border-bottom: Black 1.5pt solid; text-align: right">620,435</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"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalVendorMember_zh1bMkJKKJ0i">80</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--AccountsPayableCurrent_iI_pp0p0_c20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorEMember_zRVs75nHfe9a" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accounts payable">463,892</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> For the year ended December 31, 2020, the vendors who accounted for <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorMember_znLZNI15a2e3">10% or more of the Company’s cost of revenues and its accounts payable balance at period-end are presented 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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31, 2020</td><td style="padding-bottom: 1.5pt"> </td><td style="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="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Percentage of purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts payable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1.5pt">Vendor E</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--CostOfRevenue_pp0p0_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorEMember_zU05obzGNcy5" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Purchases">51,281</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorEMember_z91S8V0jm4Tl">50</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">%</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AccountsPayableCurrent_c20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorEMember_pp0p0" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Accounts payable">20,678</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Total:</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98C_eus-gaap--CostOfRevenue_pp0p0_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember_zI6oQ7u98Jw6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Purchases">51,281</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"> <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalVendorMember_zedIHsn5v3u1">50</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"> 20,678</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> The related party cost of revenues is $<span id="xdx_907_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20211231__us-gaap--RelatedPartyTransactionAxis__custom--RelatedPartyMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember_zXLN5o681Qc4" title="Revenue">620,435 and $<span id="xdx_905_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20201231__us-gaap--RelatedPartyTransactionAxis__custom--RelatedPartyMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember_zkIPj1via8fi" title="Revenue">0 for the year ended December 31, 2021 and 2020, respectively. (c) Credit risk Financial instruments that are potentially subject to credit risk consist principally of accounts receivable. The Company believes the concentration of credit risk in its accounts receivables is substantially mitigated by its ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company evaluates the need for an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. The related party transactions are generally transacted in an arm-length basis at the current market value in the normal course of business. EZAGOO LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020 (Currency expressed in United States Dollars (“US$”), except for number of shares)

For the year ended December 31, 2021, the customers who accounted for more than <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zcIKEybAbpOi">10% of the Company’s revenues and the accounts receivable balances at period-end are presented as follows: SCHEDULE OF MAJOR CUSTOMERS AND MAJOR VENDORS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31, 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2021</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Revenues</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Percentage of revenues</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts receivable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1.5pt">Customer J</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerJMember_zxHStyaOiWI7" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Revenues">192,989</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right"> <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--CustomerJMember_zDcietoDLKak">9</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">%</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right"> <span id="xdx_908_eus-gaap--AccountsPayableCurrent_iI_c20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerJMember_zSGDyLpDzuYi">-</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Total:</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zzPsLkjQVy67" style="border-bottom: Black 1.5pt solid; text-align: right" title="Revenues">192,989</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TotalCustomerMember_zYHVvx1pol84" style="border-bottom: Black 1.5pt solid; text-align: right" title="Percentage of revenues/purchases">9</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_981_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zDi9JMzi6O53" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accounts payable">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> For the year ended December 31, 2020, the customers who accounted for more than <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zrHTZuoLff3a">10% of the Company’s revenues and the accounts receivable balances at period-end are presented 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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31, 2020</td><td style="padding-bottom: 1.5pt"> </td><td style="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="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Revenues</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Percentage of revenues</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts receivable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Customer J</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerJMember_zzN7IS3x9qtk" style="width: 14%; text-align: right" title="Revenues">41,180</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--CustomerJMember_zrWtt4eojcz5" style="width: 14%; text-align: right" title="Percentage of revenues/purchases">18</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerJMember_zwkcvhNpOyak" 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: left; padding-bottom: 1.5pt">Customer K-related party</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--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerKRelatedPartyMember_z4xRLUzffL34" style="border-bottom: Black 1.5pt solid; text-align: right" title="Revenues">25,009</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--ConcentrationRiskPercentage1_pid_dp_uPure_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--CustomerKRelatedPartyMember_zeR2n8zyZIr1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Percentage of revenues/purchases">11</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"> <span id="xdx_90B_eus-gaap--AccountsPayableCurrent_iI_c20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerKRelatedPartyMember_z1Swv4VTRIr5">-</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:</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z5OIkcOZ1Zvb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Revenues">66,189</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TotalCustomerMember_zs8hvCJmyTQb" style="border-bottom: Black 1.5pt solid; text-align: right" title="Percentage of revenues/purchases">29</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zi6nFcoUVgq" style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> The related party revenues are $<span id="xdx_90B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20211231__us-gaap--RelatedPartyTransactionAxis__custom--RelatedPartyMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z31mPpRHeJSa" title="Revenue">0 and $<span id="xdx_904_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20201231__us-gaap--RelatedPartyTransactionAxis__custom--RelatedPartyMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zCUdliSG7jh7" title="Revenue">33,755 for the year ended December 31, 2021 and 2020, respectively. (b) Major vendors For the year ended December 31, 2021, the vendors who accounted for <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorMember_znLqz96hukN9">10% or more of the Company’s cost of revenues and its accounts payable balance at period-end are presented 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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31, 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">As of December 31, 2021</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Percentage of purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount due to related party</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1.5pt">Vendor H-related party</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--CostOfRevenue_pp0p0_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorHRelatedPartyMember_zXvTuUQLZfd3" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">620,435</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right"> <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorHRelatedPartyMember_zuZQqza7q3s4">80</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">%</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorHRelatedPartyMember_zjsl8KalnQG2" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Accounts payable"> 463,892</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Total:</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98A_eus-gaap--CostOfRevenue_pp0p0_c20210101__20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember_zVEnlcrcwaS" style="border-bottom: Black 1.5pt solid; text-align: right">620,435</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"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalVendorMember_zh1bMkJKKJ0i">80</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--AccountsPayableCurrent_iI_pp0p0_c20211231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorEMember_zRVs75nHfe9a" style="border-bottom: Black 1.5pt solid; text-align: right" title="Accounts payable">463,892</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table> For the year ended December 31, 2020, the vendors who accounted for <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorMember_znLZNI15a2e3">10% or more of the Company’s cost of revenues and its accounts payable balance at period-end are presented 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="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">For the year ended December 31, 2020</td><td style="padding-bottom: 1.5pt"> </td><td style="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="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Percentage of purchases</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Accounts payable</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1.5pt">Vendor E</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--CostOfRevenue_pp0p0_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorEMember_zU05obzGNcy5" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Purchases">51,281</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorEMember_z91S8V0jm4Tl">50</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">%</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AccountsPayableCurrent_c20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorEMember_pp0p0" style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right" title="Accounts payable">20,678</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Total:</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td id="xdx_98C_eus-gaap--CostOfRevenue_pp0p0_c20200101__20201231__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember_zI6oQ7u98Jw6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Purchases">51,281</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"> <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20200101__20201231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalVendorMember_zedIHsn5v3u1">50</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"> 20,678</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> </table>

192989

0.09

192989

0.09

0.10

41180

0.18

25009

0.11

66189

0.29

33755

0.10

620435

0.80

463892

620435

0.80

463892

0.10

51281

0.50

20678

51281

0.50

20678

620435

14. OPERATING LEASE The Company has three operating lease agreement for the office space, the first one is in Beijing China with remaining lease term of <span id="xdx_90D_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20211231__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--OfficeSpaceOneMember_zUf3nai8f321" title="Lease remaining lease term">1.83 years, the second one is in Beijing China with remaining lease term of <span id="xdx_903_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20211231__us-gaap--PropertySubjectToOrAvailableForOperatingLeaseAxis__custom--OfficeSpaceTwoMember_zDZoRnkbUfk" title="Lease remaining lease term">0.83 years, the third one is in Changsha, Hunan China that paid month by month rent as of December 31, 2021 after the lease ends. A lease with an initial term of 12 months or less are not recorded on the balance sheet. The Company accounts for the lease and non-lease components of its leases as a single lease component. Lease expense is recognized on a straight-line basis over the lease term. The details lease terms are shown as followings: SCHEDULE OF DETAILS OF LEASE TERM <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <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; width: 32%; text-align: justify">Lease agreement</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: right">Expiry Date</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: right">Original Lease Term</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: right">The Remaining Lease Term</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: justify">1st Beijing office rent</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">Dec 9, 2023</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2.67 years</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.83 years</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">2nd Beijing office rent</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">Oct 22, 2022</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1 years</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.83 years</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: justify">3rd Changsha office rent</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">Nov 15, 2020</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3 years</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">Month by month</td></tr> </table> Operating lease right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Generally, the implicit rate of interest in arrangements is not readily determinable and the Company utilizes its incremental borrowing rate in determining the present value of lease payments. The Company’s incremental borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset includes any lease payments made and excludes lease incentives. This standard did not have a significant impact on our liquidity or on our compliance with our financial covenants associated with our loans. The components of lease expense and supplemental cash flow information related to leases for the period are as follows: (a) Rent expenses For the year ended December 31, 2021, the Company has incurred rent expenses solely for the office premises on a monthly basis as follows: SCHEDULE OF LEASE COST AND OTHER INFORMATION RELATED TO OPERATING LEASES <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> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20210101__20211231_zLwZwd75MBq3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20200101__20201231_zYXXuezY0GFl" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="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 December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </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">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left">Lease Cost</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 id="xdx_403_eus-gaap--OperatingLeaseCost_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left; padding-bottom: 1.5pt">Operating lease cost (included in general and administration in the Company’s unaudited statement of operations)</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">156,870</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">51,126</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </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-decoration: underline; text-align: left">Other Information</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 id="xdx_400_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Cash paid for amounts included in the measurement of lease liabilities for the year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">153,364</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">56,807</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average remaining lease term – operating leases (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.83</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: left">Average discount rate – operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.35</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.35</td><td style="text-align: left">%</td></tr> </table> The supplemental balance sheet information related to leases for the period is as follows: SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left; width: 64%">Operating leases</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td id="xdx_49C_20211231_zio2x9QhsKna" style="text-align: right; width: 14%"> </td><td style="text-align: left; width: 1%"> </td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td id="xdx_49C_20201231_zj39bWSFE1qi" style="text-align: right; width: 14%"> </td><td style="text-align: left; width: 1%"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_maOLAzg8B_zC2XBSR9qUI5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Operating right-of-use assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">350,984</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</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_ecustom--OperatingLeaseAssets_iTI_pp0p0_mtOLAzg8B_zMMAsMQZn10f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating right-of-use assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">350,984</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</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 style="vertical-align: bottom; background-color: White"> <td> </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 id="xdx_402_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_maOLLz2zk_zKuTpfDABiyb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liabilities- current portion</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">184,928</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_maOLLz2zk_zbWMOgD7fypl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Operating lease liabilities- non-current portion</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">169,616</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_404_eus-gaap--OperatingLeaseLiability_iTI_pp0p0_mtOLLz2zk_zDERMOg7wFpl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">354,544</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Maturities of the Company’s lease liabilities are as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Period ending September 30,</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20211231_zedsJafcOqld"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Period ending December 31,</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_maLOLLPzL20_zmE3RKq9yJO4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 78%; text-align: left">2022</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right">196,693</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pp0p0_maLOLLPzL20_z5VGjoGBiTrl" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">2023</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">173,199</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0p0_mtLOLLPzL20_ziayZz0RE5V8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total lease payments</td><td style="font: 10pt Times New Roman, Times, Serif"> </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: right">369,892</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_z1F3ujPFjZr4" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: Imputed interest/present value discount</td><td style="font: 10pt Times New Roman, Times, Serif"> </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: right">(15,348</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiability_iI_pp0p0_z4PXNXW9JJc3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Present value of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">354,544</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Lease expenses were $156,870 and $51,126 during the year ended December 31, 2021 and 2020, respectively.

P1Y9M29D

P0Y9M29D

The details lease terms are shown as followings: SCHEDULE OF DETAILS OF LEASE TERM <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <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; width: 32%; text-align: justify">Lease agreement</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: right">Expiry Date</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: right">Original Lease Term</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 2%"> </td> <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: right">The Remaining Lease Term</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: justify">1st Beijing office rent</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">Dec 9, 2023</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">2.67 years</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.83 years</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">2nd Beijing office rent</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">Oct 22, 2022</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1 years</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.83 years</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: justify">3rd Changsha office rent</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">Nov 15, 2020</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3 years</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">Month by month</td></tr> </table>

2023-12-09

P2Y8M1D

P1Y9M29D

2022-10-22

P1Y

P0Y9M29D

2020-11-15

P3Y

Month by month

For the year ended December 31, 2021, the Company has incurred rent expenses solely for the office premises on a monthly basis as follows: SCHEDULE OF LEASE COST AND OTHER INFORMATION RELATED TO OPERATING LEASES <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> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_496_20210101__20211231_zLwZwd75MBq3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_497_20200101__20201231_zYXXuezY0GFl" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="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 December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </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">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </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">2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left">Lease Cost</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 id="xdx_403_eus-gaap--OperatingLeaseCost_i_pp0p0" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left; padding-bottom: 1.5pt">Operating lease cost (included in general and administration in the Company’s unaudited statement of operations)</td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">156,870</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; width: 14%; text-align: right">51,126</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </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-decoration: underline; text-align: left">Other Information</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 id="xdx_400_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_i_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Cash paid for amounts included in the measurement of lease liabilities for the year</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">153,364</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">56,807</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average remaining lease term – operating leases (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.83</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: left">Average discount rate – operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.35</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.35</td><td style="text-align: left">%</td></tr> </table>

156870

51126

153364

56807

P1Y9M29D

0.0435

The supplemental balance sheet information related to leases for the period is as follows: SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: left; width: 64%">Operating leases</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td id="xdx_49C_20211231_zio2x9QhsKna" style="text-align: right; width: 14%"> </td><td style="text-align: left; width: 1%"> </td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td id="xdx_49C_20201231_zj39bWSFE1qi" style="text-align: right; width: 14%"> </td><td style="text-align: left; width: 1%"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_maOLAzg8B_zC2XBSR9qUI5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Operating right-of-use assets</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">350,984</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</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_ecustom--OperatingLeaseAssets_iTI_pp0p0_mtOLAzg8B_zMMAsMQZn10f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating right-of-use assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">350,984</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</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 style="vertical-align: bottom; background-color: White"> <td> </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 id="xdx_402_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_maOLLz2zk_zKuTpfDABiyb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liabilities- current portion</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">184,928</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_maOLLz2zk_zbWMOgD7fypl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Operating lease liabilities- non-current portion</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">169,616</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_404_eus-gaap--OperatingLeaseLiability_iTI_pp0p0_mtOLLz2zk_zDERMOg7wFpl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">354,544</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

350984

184928

169616

354544

Maturities of the Company’s lease liabilities are as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Period ending September 30,</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_491_20211231_zedsJafcOqld"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif">Period ending December 31,</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_maLOLLPzL20_zmE3RKq9yJO4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 78%; text-align: left">2022</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right">196,693</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pp0p0_maLOLLPzL20_z5VGjoGBiTrl" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">2023</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">173,199</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pp0p0_mtLOLLPzL20_ziayZz0RE5V8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Total lease payments</td><td style="font: 10pt Times New Roman, Times, Serif"> </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: right">369,892</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_z1F3ujPFjZr4" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: Imputed interest/present value discount</td><td style="font: 10pt Times New Roman, Times, Serif"> </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: right">(15,348</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiability_iI_pp0p0_z4PXNXW9JJc3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Present value of lease liabilities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">354,544</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

196693

173199

369892

15348

354544

156870

51126

15. COMMON STOCK As of December 31, 2021 and 2020, the Company has 119,956,826 shares issued and outstanding. There are no shares of preferred stock issued and outstanding.

119956826

16. ADDITIONAL PAID-IN CAPITAL – CAPITAL CONTRIBUTION As of December 31, 2021 and 2020, the Company has a total additional paid-in capital - capital contribution balance of $1,384,907 and $1,308,646 respectively. 1384907 1308646

17. SUBSEQUENT EVENTS As of January 1, 2022, the Company’s revenue will mainly be generate revenue from Xindian application platform. According to the announcement of <Approval of Changsha Municipal People’s Government on establishing Changsha Bus Group Co., LTD.> that was issued by the Changsha government on November 17, 2020, “In order to accelerate the development of the Changsha City, the local government decided to set up the Changsha Public Transportation Group Ltd, which is holds Baojun Bus Co., Zhongwang Bus Co., and Tongchang Bus Co..” These mentioned Bus companies are used to be our vendors, our contracts with Zhongwang Bus Co., and Tongchang Bus Co., were expired on February 9, 2021, and April 1, 2020, respectively, and we were not renewed as they were the first batch of bus companies to be merged by the Changsha government. The contract with Baojun Bus Co., was expired on December 31, 2020 but we continued the bus rent on a monthly basis until December 28, 2021. The Changsha government completed the merge and acquisition at the end of 2021, which makes it very difficult for us to continue to operate in this area. During the subsequent period through April 22, 2022, the Company advanced a total amount of $0 to a related party, and the related party repaid the amount of $189,724. The balance of due from related party as of filing date was $141,618.

189724

141618