SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of consolidated subsidiaries

		Attributable
Name of Company	Place of incorporation	equity  interest %
Utour Pte Ltd	Singapore		100	%
WeTrade Information Technology Limited (“WITL”)	Hong Kong		100	%
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)	P.R.C.		100	%
Yueshang Group Network (Hunan) Co., Limited (“Yueshang Hunan”)	P.R.C		100	%
Yueshang Technology Group (Hainan Special Economic Zone) Co. Limited (“Yueshang Hainan”)	P.R.C		100	%
WeTrade Digital (Beijing) Technology Co Limited (f/k/a XiaoShang Technology Beijing Co Limited)	P.R.C		100	%
Tibet Xiaoshang Technology Group Limited	P.R.C		100	%

Name of Company	Place of incorporation	Attributable equity interest %
Utour Pte Ltd	Singapore		100	%
WeTrade Information Technology Limited (“WITL”)	Hong Kong		100	%
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)	P.R.C.		100	%
Yueshang Group Network (Hunan) Co., Limited (“Yueshang Hunan”)	P.R.C		100	%
Yueshang Technology Group (Hainan Special Economic Zone) Co. Limited (“Yueshang Hainan”)	P.R.C		100	%
Tibet XiaoShang Technology Co Limited (“Tibet Xiaoshang”)	P.R.C		100	%

Schedule of investment holding company

	Place of	Nature of
Name of Company	incorporation	operation
Utour Pte Ltd	Singapore	Investment holding company
WeTrade Information Technology Limited (“WITL”)	Hong Kong	Investment holding company
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)	P.R.C.	Providing of social e-commerce services, technical system support and services
Yueshang Group Network (Hunan) Co., Limited (“Yueshang Hunan”)	P.R.C	Providing of social e-commerce services, technical system support and services
Yueshang Technology Group (Hainan Special Economic Zone) Co. Limited (“Yueshang Hainan”)	P.R.C	Providing of social e-commerce services, technical system support and services
WeTrade Digital (Beijing) Technology Co Limited (FKA: XiaoShang Technology Beijing Co Limited)	P.R.C	Providing of social e-commerce services, technical system support and services
Tibet Xiaoshang Technology Group Limited	P.R.C	Providing of social e-commerce services, technical system support and services.

Schedule of exchange rate

	March 31, 2022		December 31, 2021
RMB: US$ exchange rate		6.34		6.36

	Year ended December 31,
	2021		2020
RMB: US$ exchange rate		6.36		6.53

Property and equipment

Office equipment	3 years
Leasehold improvements	5 years

Schedule lease terms and discount rate

Lease cost	In USD
Operating lease cost (included in general and admin in company’s statement of operations)	$	705,407
Other information
Cash paid for amounts included in the measurement of lease liabilities for the quarter ended 3/31/2022		730,112
Weighted average remaining lease term-operating leases (in years)		3.42
Average discount rate - operating leases		5	%
The supplemental balance sheet information related to leases for the period is as follows:
Operating leases
Long -term right-of-use assets		2,189,390
Total right-of-use assets	$	2,189,390
Short-term operating lease liabilities		616,698
Long-term operating lease liabilities		1,769,144
Total operating lease liabilities	$	2,385,842
Maturities of the Company’s lease liabilities are as follows:
Year ending March 31,
2023		722,656
2024		767,393
2025		813,323
2026		301,828
Total lease payments		2,605,200
Less: Imputed interest/present value discount		(219,358	)
Present value of lease liabilities	$	2,385,842

Lease cost	In USD
Operating lease cost (included in general and admin in company’s statement of operations)	$	694,533
Other information
Cash paid for amounts included in the measurement of lease liabilities for the quarter ended 12/31/2021		719,272
Weighted average remaining lease term-operating leases (in years)		3.67
Average discount rate - operating leases		5	%
The supplemental balance sheet information related to leases for the period is as follows:
Operating leases
Long -term right-of-use assets		2,328,950
Total right-of-use assets	$	2,328,950
Short-term operating lease liabilities		596,098
Long-term operating lease liabilities		1,942,242
Total operating lease liabilities	$	2,538,340
Maturities of the Company’s lease liabilities are as follows:
Year ending December 31,
2022		709,336
2023		753,074
2024		798,895
2025		526,944
Total lease payments	$	2,788,249
Less: Imputed interest/present value discount		(249,909	)
Present value of lease liabilities	$	2,538,340

Schedule of potentially diluted shares

	For the  period March 31, 2022		For the  period March 31, 2021
Statement of Operations Summary Information:
Net Profit	$	560,855		652,084
Weighted-average common shares outstanding - basic and diluted		305,451,498		305,451,498
Net profit per share, basic and diluted	$	0.00		0.00

	2021		2020
Statement of Operations Summary Information:
Net Profit	$	5,175,675	$	2,675,037
Weighted-average common shares outstanding - basic and diluted		305,451,498		304,166,073
Net profit per share, basic and diluted	$	0.02	$	0.01