NOTE 4 – EQUIPMENT, NET

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

NOTE 4 – EQUIPMENT, NET

NOTE 4 – EQUIPMENT, NET

As of June 30, 2023 and December 31, 2022, equipment consisted of the following:

	June 30, 2023			December 31, 2022
Equipment	$	7,057		$	7,419
Property		258,070			271,319
Less: accumulated depreciation		(10,046	)		(4,368	)
Total property and equipment, net	$	255,081		$	274,370

On September 28, 2022, the Company consummated an office suite purchase agreement with a third party. Pursuant to the agreement, the Company issued 2,651,780 common stocks of the Company to purchase a 118-square-meter office suite located in Hangzhou City, Zhejiang Province, China. The cost of the office suite was measured at the fair value of the issued common stocks on the closing date of $265,178 less value-added tax of $2,108. The difference of $5,000 between the addition of $263,070 and the cost as of June 30, 2023 is due to the fluctuation of foreign exchange rate. The office space is intended for internal use.

Depreciation expenses were $3,222 and $587 for the three months ended June 30, 2023 and 2022, respectively, which was included in selling, general and administrative expenses. Depreciation expenses were $6,527 and $730 for the six months ended June 30, 2023 and 2022, respectively. The difference with the change in accumulated depreciation was due to exchange difference.