OPERATING LEASE (Tables)

12 Months Ended

Dec. 31, 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	0.92 year
2nd Beijing office rent	Oct 22, 2023	1 year	0.83 year
3rd Changsha office rent	Nov 15, 2020	3 years	Month by month
4th Changsha office rent, related party	Aug 1, 2023	1 year	0.58 year

SCHEDULE OF LEASE COST AND OTHER INFORMATION RELATED TO OPERATING LEASES

For the year ended December 31, 2022, the Company has incurred rent expenses solely for the office premises on a monthly basis as follows:

	As of December 31,
	2022			2021
Lease Cost
Operating lease cost (included in general and administration in the Company’s audited statement of operations)	$	180,579		$	156,870
Other Information
Cash paid for amounts included in the measurement of lease liabilities for the year	$	185,835		$	153,364
Weighted average remaining lease term – operating leases (in years)		0.92			1.83
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	$	181,520	$	350,984
Total operating right-of-use assets	$	181,520	$	350,984
Operating lease liabilities- current portion	$	156,015	$	184,928
Operating lease liabilities- non-current portion		-		169,616
Total operating lease liabilities	$	156,015	$	354,544

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

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

Period ending December 31,
2023	$	159,312
Total lease payments		159,312
Less: Imputed interest/present value discount		(3,297	)
Present value of lease liabilities	$	156,015