Prepayments, Deposits and Other Assets, Net

12 Months Ended

Dec. 31, 2018

Prepayments Deposits And Other Assets Net [Abstract]

Prepayments, deposits and other assets, net

Note 4 — Prepayments, deposits and other assets, net

Prepayments, deposits and other assets, net consisted of the following:

	As of December 31,
	2018			2017
Advances to suppliers	$	138,464		$	310,808
Security deposits *		857,676			624,093
Advances to employees		248,191			262,682
Prepaid expense		222,862			12,772
Loan to others **		47,997			908,453
Deferred offering cost		400,640			-
Others		109,721			100,777
		2,025,551			2,219,585
Less: Long term portion		(865,498	)		(624,093	)
Allowance for doubtful accounts		(14,047	)		(19,422	)
Prepayments, deposits and other assets – current portion	$	1,146,006		$	1,576,070

* Security deposits represent contract fulfillment deposits required by customer for specific projects, rent deposits and etc.

** The Company had unsecured, non-interest-bearing loan receivables from various vendors. The maturity of these loans are generally within one or two years.

Movement of allowance for doubtful accounts is as follows:

	As of December 31,
	2018			2017		2016
Beginning balance	$	19,422		$	10,648	$	-
(Recovery) provision for doubtful accounts		(4,510	)		7,760		11,129
Foreign currency translation adjustments		(865	)		1,014		(481	)
Ending balance	$	14,047		$	19,422	$	10,648