Related Party Balances and Transactions

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

Related party balances and transactions

Note 9 — Related party balances and transactions

Related party transactions and balances

Name of Related Party	Relationship to the Company
Guangzhou Jiatu Culture Media Co., Ltd. (formerly as Guangzhou Powerbridge Blockchain Co., Ltd.)	Company has significant influence over with this entity
Ban Lor	Shareholder of the Company
Stewart Lor	CEO
Yuxia Xu	CFO
Hong Yu	shareholder of Zhixin
Shanghai Stamp Technology Co., Ltd.	The Company owns equity interest
Xuzhi Zhou	Chief Business Development Officer
Jing Deng	Chief Product Officer
Xiaoyan Liu	Shareholder of Ascendent
Zhongchuan Dadi (Beijing) Technology Co., LTD	Shareholder of Ascendent
Shanghai Yue See cultural development Co., LTD	Shareholder of Metafusion

a Due from related parties:

	June 30, 2023		December 31, 2022
Shanghai Stamp Technology Co., Ltd. (1)	$	-	$	172,811
Ban Lor (2)		25,697		37,638
Stewart Lor (2)		1,470,016		1,566,478
Yuxia Xu (2)		397,694		363,666
Xuzhi Zhou (2)		100,000		-
Jing Deng (2)		170,000		-
Xiaoyan Liu (2)		135,426		-
Due from related parties, net	$	2,298,833	$	2,140,593

(1) In connection with the acquisition of Smartconn, the balance was eliminated.

(2) From time to time, the Company advances funds to senior management for business purpose.

b Due to related party:

	June 30, 2023		December 31, 2022
Hong Yu (1)	$	-	$	118,114
Shanghai Yue See cultural development Co., LTD		16,549		-
Zhongchuan Dadi (Beijing) Technology Co., LTD		219		-
Subtotal	$	16,768	$	118,114

(1) The above balances represent unpaid loan and expenses to these related parties.

c Related party transactions

		Six months ended June 30, 2023		Six months ended June 30, 2022
Guangzhou Jiatu Culture Media Co., Ltd. (2)	Service fees	$	-	$	65,085
Stewart Lor	Interest income	$	37,620	$	-
Yuxia Xu	Interest income	$	10,037	$	-
Shanghai Yue See cultural development Co., LTD	Service revenue	$	4,287	$	-

(1) On June 2, 2022, the Company’s CFO sold the equity interest in Jiatu Culture Media Co., Ltd., so Jiatu Culture Media Co., Ltd. no longer considered as a related party.