Prepayments, Deposits and Other Assets, net

12 Months Ended

Dec. 31, 2020

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,
	2020			2019
Security deposits (1)	$	385,607		$	755,886
Advances to suppliers		1,508,022			31,449
Advances to employees		215,735			18,159
Prepaid expense		293,573			377,501
Others		288,464			158,554
		2,691,401			1,341,549
Less: Long term portion		(385,607	)		(759,397	)
Allowance for doubtful accounts		(306,513	)		(31,139	)
Prepayments, deposits and other assets – current portion	$	1,999,281		$	551,013

(1) 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,
	2020		2019			2018
Beginning balance	$	31,139	$	14,047		$	19,422
Provision(recovery) for doubtful accounts		258,280		17,400			(4,510	)
Foreign currency translation adjustments		17,094		(308	)		(865	)
Ending balance	$	306,513	$	31,139		$	14,047