XML 129 R20.htm IDEA: XBRL DOCUMENT v3.22.1
Commitments and Contingencies
12 Months Ended
Dec. 31, 2021
COMMITMENTS AND CONTINGENCIES  
Commitments and Contingencies

Note 14 - Commitments and Contingencies

 

We have several operating leases, primarily for offices and factories rent. Our principal executive offices are located in Qingdao, China. The aggregate future minimum payment under these non-cancelable operating leases are summarizes in the table below.

 

Twelve months ending December 31,

 

Minimum lease

payment

 

2022

 

$169,393

 

2023

 

 

247,041

 

2024

 

 

 

 

2024

 

 

 

 

2025

 

 

 

 

Thereafter

 

 

 

 

Total minimum lease payments

 

$416,434

 

 

For the year ended December 31, 2020 and 2021, the Company has rent expense for the amount of $17,059 and $235,294 respectively.

 

As of December 31, 2020 and 2021, Company has no material purchase commitments, significant leases, unused letters of credit or pending legal proceedings.