Prepayments, Deposits and Other Assets, Net

12 Months Ended

Dec. 31, 2019

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,
	2019			2018
Advances to suppliers	$	31,449		$	138,464
Security deposits *		755,886			857,676
Advances to employees		91,108			248,191
Prepaid expense		377,501			222,862
Deferred offering cost		-			400,640
Others		158,554			109,721
		1,414,498			1,977,554
Less: Long term portion		(759,397	)		(865,498	)
Allowance for doubtful accounts		(31,139	)		(14,047	)
Prepayments, deposits and other assets – current portion	$	623,962		$	1,098,009

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

Movement of allowance for doubtful accounts is as follows:

	As of December 31,
	2019			2018			2017
Beginning balance	$	14,047		$	19,422		$	10,648
(Recovery) provision for doubtful accounts		17,400			(4,510	)		7,760
Foreign currency translation adjustments		(308	)		(865	)		1,014
Ending balance	$	31,139		$	14,047		$	19,422