OPERATING LEASE (Tables)

9 Months Ended

Sep. 30, 2022

Operating Lease

SCHEDULE OF DETAILS OF LEASE TERM

The details lease terms are shown as followings:

Lease agreement	Expiry Date	Original Lease Term	The Remaining Lease Term
1st Beijing office rent	Dec 9, 2023	2.67 years	1.17 years
2nd Beijing office rent	Oct 22, 2022	1 year	0.08 year
3rd Changsha office rent	Nov 15, 2020	3 years	Month by month
4th Beijing office rent	Oct 23, 2022	1 year	1 year

SCHEDULE OF LEASE COST AND OTHER INFORMATION RELATED TO OPERATING LEASES

For nine months ended September 30, 2022 and 2021, the Company has incurred rent expenses solely for the office premises on a monthly basis as follows:

	Nine months ended September 30,
	2022			2021
	(Unaudited)			(Unaudited)
Lease Cost
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)	$	138,069		$	103,108
Other Information
Cash paid for amounts included in the measurement of lease liabilities for the nine months ended September 30, 2022	$	142,088		$	104,623
Weighted average remaining lease term – operating leases (in years)		1.17			2.17
Average discount rate – operating leases		4.35	%		4.35	%

SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES

The supplemental balance sheet information related to leases for the period is as follows:

Operating leases
Operating right-of-use assets	$	222,142	$	393,245
Total operating right-of-use assets	$	222,142	$	393,245
Operating lease liabilities- current portion	$	170,435	$	181,146
Operating lease liabilities- non-current portion		51,248		214,494
Total operating lease liabilities	$	221,683	$	395,640

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

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

Period ending September 30,
2023	$	175,474
2024		23,121
Total lease payments		198,595
Less: Imputed interest/present value discount		23,088
Present value of lease liabilities	$	221,683