Discontinued Operations

6 Months Ended

Jun. 30, 2023

Discontinued Operations [Abstract]

DISCONTINUED OPERATIONS

NOTE 15 – DISCONTINUED OPERATIONS

On January 16, 2023, the Company’s Board of Directors passed a resolution to dissolve the operation of Yueshang Group Network (Hunan) Co., Limited (“Yueshang Hunan”), resulting in a loss on disposal of $3,928. Loss from discontinued operations for the period ended June 30, 2023 and 2022 was as follows:

	Six Months ended June 30 2023			Six Months ended June 30 2022
Revenue:
Service revenue	$	-		$	254,522
Cost of revenue		(3	)		(111,252	)
Gross loss		(3	)		143,270
Operating expenses:
General and Administrative		3,925			(165,228	)
Operations Loss		(3,928	)		-
Other (expenses)/ revenue		-			-
Loss from discontinued operations before income tax		(3,928	)		(21,958	)
Income tax expense		-			-
Loss from discontinued operation after tax		(3,928	)		(21,958	)
Loss on disposal of discontinued operation		(1,236,377	)		(1,460,180	)
LOSS FROM DISCONTINUED OPERATION	$	(1,240,305	)	$	(1,482,138	)

The major components of assets and liabilities related to discontinued operations are summarized below:

	June 30, 2023		December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents	$	10	$	13
Accounts receivables		655,088		654,139
Prepayments		748,802		747,717
Property and equipment, net		66,673		70,493
Intangible asset		227		230
Other receivables		2,905		2,899
Total assets related to discontinued operations		1,473,705		1,475,491
Account payables	$	194,462		194,179
Other payables		38,938		38,881
Total liabilities related to discontinued operations		233,400		233,060