Concentrations of Risks	9 Months Ended
Sep. 30, 2022
Risks and Uncertainties [Abstract]
Concentrations of Risks	Note 13 — Concentrations of risks Credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. The Canadian Deposit Insurance Corporation pays compensation up to a limit of CAD 100,000 (approximately USD 73,000) if the bank with which an individual/a company holds its eligible deposit fails. As of September 30, 2022, a cash balance of CAD 5,904,584 (USD 4,313,063) was maintained at financial institutions in Canada, of which CAD 5,804,584 (USD 4,240,017) was subject to credit risk. The Taiwan Central Deposit Insurance Corporation pays compensation up to a limit of New Taiwan Dollar 3,000,000 (approximately USD 95,000) if the bank with which an individual/a company holds its eligible deposit fails. As of September 30, 2022, an aggregated cash balance of USD 1,412,605 was maintained at financial institutions in Taiwan, of which USD 1,223,658 was subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their creditworthiness. The Company is also exposed to risk from its accounts receivable and other receivables. These assets are subjected to credit evaluations. An allowance has been made for estimated unrecoverable amounts which have been determined by reference to past default experience and the current economic environment. Customer concentration risk For the three months ended September 30, 2022, two customers accounted for 23.8% and 19.2% of the Company’s total revenues, respectively. For the three months ended September 30, 2021, three customers accounted for 19.9%, 15.0% and 10.4% of the Company’s total revenues, respectively. No other customer accounts for more than 10% of the Company’s revenue for the three months ended September 30, 2022 and 2021. For the nine months ended September 30, 2022, two customers accounted for 22.1% and 21.1% of the Company’s total revenues, respectively. For the nine months ended September 30, 2021, three customers accounted for 24.7%, 14.0% and 12.0% of the Company’s total revenues, respectively. No other customer accounts for more than 10% of the Company’s revenue for the nine months ended September 30, 2022 and 2021. As of September 30, 2022, three customers accounted for 30.6%, 14.6% and 12.6% of the total balance of accounts receivable, respectively. As of December 31, 2021, four customers accounted for 22.4%, 14.0%, 13.1% and 12.1% of the total balance of accounts receivable, respectively. No other customer accounted for more than 10% of the Company’s accounts receivable as of September 30, 2022 and December 31, 2021. Vendor concentration risk For the three months ended September 30, 2022, Tangshan Huida Ceramic Group Co., Ltd (“Huida”) accounted for 49.9% of the Company’s total purchases. For the three months ended September 30, 2021, Huida accounted for 44.2% of the Company’s total purchases. No other supplier accounted for more than 10% of the Company’s total purchases for the three ended September 30, 2022 and 2021 For the nine months ended September 30, 2022, Tangshan Huida Ceramic Group Co., Ltd (“Huida”) accounted for 51.4% of the Company’s total purchases. For the nine months ended September 30, 2021, Huida accounted for 40.8% of the Company’s total purchases. No other supplier accounted for more than 10% of the Company’s total purchases for the nine months ended September 30, 2022 and 2021. As of September 30, 2022, Huida accounted for 72.4% of the total balance of accounts payable. As of December 31, 2021, Huida accounted for 66.1% of the total balance of accounts payable. No other supplier accounts for more than 10% of the Company’s accounts payable as of September 30, 2022 and December 31, 2021.

Concentrations of Risks

9 Months Ended

Sep. 30, 2022

Note 13 — Concentrations of risks

Credit risk

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. The Canadian Deposit Insurance Corporation pays compensation up to a limit of CAD 100,000 (approximately USD 73,000) if the bank with which an individual/a company holds its eligible deposit fails. As of September 30, 2022, a cash balance of CAD 5,904,584 (USD 4,313,063) was maintained at financial institutions in Canada, of which CAD 5,804,584 (USD 4,240,017) was subject to credit risk. The Taiwan Central Deposit Insurance Corporation pays compensation up to a limit of New Taiwan Dollar 3,000,000 (approximately USD 95,000) if the bank with which an individual/a company holds its eligible deposit fails. As of September 30, 2022, an aggregated cash balance of USD 1,412,605 was maintained at financial institutions in Taiwan, of which USD 1,223,658 was subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their creditworthiness.

The Company is also exposed to risk from its accounts receivable and other receivables. These assets are subjected to credit evaluations. An allowance has been made for estimated unrecoverable amounts which have been determined by reference to past default experience and the current economic environment.

Customer concentration risk

For the three months ended September 30, 2022, two customers accounted for 23.8% and 19.2% of the Company’s total revenues, respectively. For the three months ended September 30, 2021, three customers accounted for 19.9%, 15.0% and 10.4% of the Company’s total revenues, respectively. No other customer accounts for more than 10% of the Company’s revenue for the three months ended September 30, 2022 and 2021.

For the nine months ended September 30, 2022, two customers accounted for 22.1% and 21.1% of the Company’s total revenues, respectively. For the nine months ended September 30, 2021, three customers accounted for 24.7%,

14.0% and 12.0% of the Company’s total revenues, respectively. No other customer accounts for more than 10% of the Company’s revenue for the nine months ended September 30, 2022 and 2021.

As of September 30, 2022, three customers accounted for 30.6%, 14.6% and 12.6% of the total balance of accounts receivable, respectively. As of December 31, 2021, four customers accounted for 22.4%, 14.0%, 13.1% and 12.1% of the total balance of accounts receivable, respectively. No other customer accounted for more than 10% of the Company’s accounts receivable as of September 30, 2022 and December 31, 2021.

Vendor concentration risk

For the three months ended September 30, 2022, Tangshan Huida Ceramic Group Co., Ltd (“Huida”) accounted for 49.9% of the Company’s total purchases. For the three months ended September 30, 2021, Huida accounted for 44.2% of the Company’s total purchases. No other supplier accounted for more than 10% of the Company’s total purchases for the three ended September 30, 2022 and 2021

For the nine months ended September 30, 2022, Tangshan Huida Ceramic Group Co., Ltd (“Huida”) accounted for 51.4% of the Company’s total purchases. For the nine months ended September 30, 2021, Huida accounted for 40.8% of the Company’s total purchases. No other supplier accounted for more than 10% of the Company’s total purchases for the nine months ended September 30, 2022 and 2021.

As of September 30, 2022, Huida accounted for 72.4% of the total balance of accounts payable. As of December 31, 2021, Huida accounted for 66.1% of the total balance of accounts payable. No other supplier accounts for more than 10% of the Company’s accounts payable as of September 30, 2022 and December 31, 2021.