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LEASE (Tables)
 3 Months Ended
Mar. 31, 2024
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 Changsha office rent, related party   Dec 31, 2024    2 years    0.75 year 
2nd Beijing office rent, related party   Dec 31, 2024    1 year    0.75 year 
3rd Changsha office rent, related party   Aug 1, 2024    1 year    0.33 year 
SCHEDULE OF LEASE EXPENSE AND SUPPLEMENTAL ASH FLOW INFORMATION RELATED TO LEASES

The components of lease expense and supplemental cash flow information related to leases are as following:

 

   2024   2023 
   Three months ended March 31, 
   2024   2023 
   (Unaudited)   (Unaudited) 
Leases Cost (included in general and administration in the Company’s unaudited condensed statement of operations)          
Leases cost, related parties  $6,725   $4,171 
Leases cost, non-related parties   -    44,380 
Total lease cost  $6,725   $48,551 
           
Other Information          
Cash paid for the amounts included in the measurement of lease liabilities, related parties  $-   $- 
Cash paid for the amounts included in the measurement of lease liabilities, non-related parties  $-   $30,448 
Weighted average remaining lease term, related party (in years)   0.75    - 
Weighted average remaining lease term, non-related party (in years)   -    0.67 
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 is as following:

 

   March 31, 2024   December 31, 2023 
   (Unaudited)   (Audited) 
Leases          
Right-of-use assets, related parties  $16,012   $21,603 
Total Right-of-use assets  $16,012   $21,603 
           
Lease liabilities - current portion, related parties  $22,693   $21,603 
Total lease liabilities  $22,693   $21,603 
SCHEDULE OF MATURITIES OF LEASE LIABILITIES

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

 

Period ending March 31,    
2024  $22,985 
2025   - 
Total lease payments   22,985 
Less: Imputed interest/present value discount   (292)
Present value of lease liabilities  $22,693