PREPAYMENTS

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

PREPAYMENTS

PREPAYMENTS

NOTE 9 - PREPAYMENTS

As of March 31, 2022, prepayments consist of the following:

	March 31, 2022		December 31, 2021
Office furniture and renovation	$	1,124,480	$	1,895,591
Office rental		28,658		173,611
Ycloud system marketing and promotion service		2,319,258		-
Block chain software and others		616,052		691,456
	$	4,088,448	$	2,760,658

As of March 31, 2022, there is a prepayment of approximate $1.1 million in relation of purchasing new office furniture as a result of new office renovation during the year, the renovation is expected to complete in April 2022. 

As of March 31, 2022, there is a prepayment of approximate $2.3 million and approximate $60,000 in relation of marketing & promotion services and block chain software development under YCloud system, which is expect to complete in February 2023 and June 2022 respectively.

NOTE 11 - PREPAYMENTS

As of December 31, 2021, prepayments consist of the following:

	December 31, 2021		December 31, 2020
Office furniture and renovation	$	1,895,591	$	-
Office Rental		173,611		-
Block chain software and annual fee		630,291		-
Software licenses fee		61,165		61,707
	$	2,760,658	$	61,707

As of 31 December 2021, there is a prepayment of approximate $1.9 million in relation of purchasing new office furniture as a result of new office renovation during the year, the renovation is expected to complete in April 2022. 

As of 31 December 2021, there is a prepayment of $630,291 in relation of block chain software development under YCloud system, which is expect to complete in June 2022.