NOTE 8 – RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

NOTE 8 – RELATED PARTY TRANSACTIONS

NOTE 8 – RELATED PARTY TRANSACTIONS

During the three months ended March 31, 2022, the Company borrowed total $82,107 from the President of the Company for its normal business operations and the acquisition of Hangzhou Longwen. From July 2022 to December 2022, the Company borrowed additional $9,676 from the President of the Company. As of December 31, 2022, the total amount owed to the President was $90,494, with a difference of $1,289 due to the foreign exchange fluctuation. During the three months ended March 31 and June 30, 2023, the Company repaid $14,618 (RMB 100,000) and $3,135 to the President, respectively. As of June 30, 2023, the balance of the loan due to our President was $69,777. The difference of $2,964 is due to the fluctuation in foreign exchange. The borrowing is unsecured, non-interest-bearing and due on demand.

During the three months ended March 31, 2023, the wife of President of the Company, repaid commercial loan and accrued interest in the total amount of $14,050 on behalf of the Company. During the three months ended June 30, 2023, the Company received advances of $30,378 in cash from and repaid $11,546 to the wife of President of the Company. As of June 30, 2023, the amount due to the related party was $31,025, with difference of $1,857 due to the fluctuation in foreign exchange.