Stockholders’ Equity

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Stockholders’ Equity

NOTE 13 – Stockholders’ Equity

Preferred Stock

The authorized capital stock of the Company was 10,000,000 shares of preferred stock, $0.0001 par value per share, as of December 31, 2021 and 2020. The Company did not have any preferred shares outstanding as of December 31, 2021 and 2020. The holders of the preferred stock are entitled to receive dividends, if and when declared by the Board of Directors.

Common Stock

As of December 31, 2021 and 2020, the authorized capital stock of the Company was 300,000,000 shares of common stock, $0.0001 par value per share, and there were 33,300,000 shares of common stock outstanding.

Stock Split

The authorized capital stock of the Company was 440,000,000 shares of common stock, $0.0001 par value per share before December 3, 2021.

On December 3, 2021, the Company authorized a reverse stock split. Each existing share was split into 0.75 share of the Company’s common stock. This reverse stock split caused the number of shares outstanding to decrease from 44,400,000 to 33,300,000  . All per share amounts and number of shares in the consolidated financial statements and related notes have been retrospectively adjusted to reflect the reverse stock split.