Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2022 | Jul. 28, 2022 | |
Document Information Line Items | ||
Entity Registrant Name | ZZLL INFORMATION TECHNOLOGY, INC. | |
Trading Symbol | ZZLL | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 20,277,448 | |
Amendment Flag | false | |
Entity Central Index Key | 0001365357 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 333-134991 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 37-1847396 | |
Entity Address, Address Line One | Unit 1504, 15/F., Carnival Commercial Building | |
Entity Address, Address Line Two | 18 Java Road | |
Entity Address, City or Town | North Point | |
Entity Address, Country | HK | |
City Area Code | (+852) | |
Local Phone Number | 3705 1571 | |
Title of 12(b) Security | Common stock, $0.0001 par value | |
Security Exchange Name | NONE | |
Entity Interactive Data Current | Yes | |
Entity Address, Postal Zip Code | N/A |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,612,714 | $ 1,932,693 |
Accounts Receivables, net | 850,457 | 848,181 |
Inventory | 69,169 | 68,984 |
Deposit and prepaid expenses | 18,143 | |
Prepaid taxes | 121,940 | |
Amounts due from related parties | 434,744 | 414,395 |
Total current assets | 3,107,167 | 3,264,252 |
Long-term assets: | ||
Property, plant and equipment, net | 249,597 | 16,493 |
Operating leases right-of-use assets, net | 170,106 | 200,840 |
Other receivable, net | 219,769 | 200,220 |
Other assets | 131,904 | 128,606 |
Total non-current assets | 771,376 | 546,160 |
TOTAL ASSETS | 3,878,541 | 3,810,411 |
Current liabilities: | ||
Short term loan – | 1,572,631 | 1,572,631 |
Accounts Payable | 72,115 | 52,682 |
Other payables | 1,197,541 | 794,038 |
Lease liabilities - current | 126,791 | 123,203 |
Deferred income - current | 142,304 | 143,367 |
Income taxes payable | 125,339 | 11,094 |
Accrued liabilities | 203,944 | 201,815 |
Amounts due to related parties | 1,345,958 | 1,348,102 |
Total current liabilities | 4,786,623 | 4,246,932 |
Long-term liabilities: | ||
Lease liabilities – non-current | 65,811 | 98,040 |
Deferred income - long-term | 498,064 | 535,454 |
TOTAL LIABILITIES | 5,350,498 | 4,880,426 |
Stockholders’ deficit: | ||
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding, as of March 31, 2022 and December 31, 2021. | ||
Common stock, $0.0001 par value, 300,000,000 shares authorized; 20,277,448 and 20,277,448 shares issued and outstanding, as of March 31, 2022 and December 31, 2021, respectively | 2,028 | 2,028 |
Additional paid-in capital | 1,671,847 | 1,671,847 |
Accumulated other comprehensive income | 56,641 | 46,918 |
Accumulated deficit | (3,202,473) | (2,790,808) |
TOTAL STOCKHOLDERS’ DEFICIT | (1,471,957) | (1,070,015) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ 3,878,541 | $ 3,810,411 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, shares outstanding | 20,277,448 | 20,277,448 |
Common stock, shares outstanding | 20,277,448 | 20,277,448 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Income Statement [Abstract] | ||
Net Revenue | $ 405,583 | $ 380,376 |
Cost of sales | (99,529) | (9,243) |
Gross profit | 306,054 | 371,133 |
Operating expenses | ||
General and administrative expenses | (694,109) | (245,436) |
Income/(loss) from operations | (388,055) | 125,697 |
Non-operating income (expense) | ||
Interest expenses | (24,376) | (3,174) |
Interest income | 2 | |
Other income | 768 | 325 |
Other expense | (7,714) | |
Income (loss) before income taxes | (411,663) | 115,136 |
Income taxes | ||
Net income (loss ) | (411,663) | 115,136 |
Foreign currency translation adjustment | 9,723 | 434 |
Comprehensive income (loss) | $ (401,940) | $ 115,570 |
Basic and diluted earnings (loss) per share of common stock (in Dollars per share) | $ (0.02) | $ 0.0057 |
Weighted average number of shares of common stock outstanding - Basic and diluted (in Shares) | 20,277,448 | 20,277,448 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders’deficit - USD ($) | Shares Outstanding | Paid-in capital | Comprehensive Income(loss) | Development stage | Total |
Balance at Dec. 31, 2020 | $ 2,028 | $ 1,671,847 | $ 17,224 | $ (2,806,777) | $ (1,115,678) |
Balance (in Shares) at Dec. 31, 2020 | 20,277,448 | ||||
Issuance of common stock | |||||
Currency translation adjustment | 29,694 | 29,694 | |||
Net income (loss) | 15,968 | 15,968 | |||
Balance at Dec. 31, 2021 | $ 2,028 | 1,671,847 | 46,918 | (2,790,809) | (1,070,016) |
Balance (in Shares) at Dec. 31, 2021 | 20,277,448 | ||||
Issuance of common stock | |||||
Currency translation adjustment | 9,723 | 9,723 | |||
Net income (loss) | (411,663) | (411,663) | |||
Balance at Mar. 31, 2022 | $ 2,028 | $ 1,671,847 | $ 56,641 | $ (3,202,472) | $ (1,471,955) |
Balance (in Shares) at Mar. 31, 2022 | 20,277,448 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Cash Flow from Operating Activities | |||
Net income (loss) | $ (411,663) | $ 115,136 | $ 15,968 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||
Depreciation and amortization | 13,132 | (666) | |
Changes in assets and liabilities: | |||
Deposit and prepayments | (18,144) | (5,330,664) | |
Accounts receivables | (2,276) | ||
Other receivables | (19,548) | (12,140) | |
Other payables and accrued liabilities | 425,065 | (24,429) | |
Payment of lease liabilities – current | 3,588 | (1,805) | |
Payment of lease liabilities – long term | (32,230) | (26,173) | |
Deferred revenue | (38,455) | 3,881,298 | |
Inventory | (185) | (1,630) | |
Income tax payable | (7,694) | (4,051) | |
Cash provided by (used for) operating activities | (88,407) | (1,405,125) | |
Cash Flow from Investing Activities | |||
Purchase of property, plant and equipment | (218,799) | 45,526 | |
Cash provided by (used for) investing activities | (218,799) | 45,526 | |
Cash Flows from Financing Activities | |||
Amounts due from related parties | (20,349) | 423,474 | |
Short term loans | |||
Amounts due to related parties | (2,144) | 160,042 | |
Cash provided by (used for) financing activities | (22,493) | 583,517 | |
Net increase (decrease) in cash | (329,700) | (776,081) | |
Currency translation adjustment | 9,723 | 435 | |
Cash at Beginning of Period | 1,932,693 | 932,102 | 932,102 |
Cash at End of Period | 1,612,717 | 156,454 | $ 1,932,693 |
Supplemental Disclosures of Cash Flow Information: | |||
Interest received | 2 | ||
Interest paid | 24,376 | 3,174 | |
Income taxes |
Organization and Basis of Prese
Organization and Basis of Presentation | 3 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND BASIS OF PRESENTATION | NOTE 1. ORGANIZATION AND BASIS OF PRESENTATION We were incorporated under the laws of the State of Nevada on September 9, 2005 under the name of JML Holdings, Inc. and we subsequently merged with Baoshinn International Express, Inc. and changed our name to Baoshinn Corporation on January 10, 2006. We changed our name to Green Standard Technologies, Inc. on June 17, 2015 and on May 19, 2016, we changed our name to ZZLL Information Technology, Inc. (the “Company”). On April 23, 2013, we formed a wholly owned subsidiary, Syndicore Asia Limited (“SAL”) under the laws of Hong Kong. SAL has had limited operating activities since incorporation except for holding our ownership interest in Hunan Syndicore Asia Limited (“HSAL”), an e-Commerce company organized under the laws of the People’s Republic of China (the “PRC”). On August 18, 2016, we entered into a joint venture agreement with Network Service Management Limited (“NSML”) to form Z-Line International E-Commerce Company Limited (“Z-Line”) under the laws of Hong Kong. We initially owned 55% and NSML owned 45% of the equity interests in Z-Line, which was formed to provide consumer-to-consumer, business-to-consumer and business-to-business-sales services via web portals. On October 8, 2019, we acquired the remaining 45% equity interest in Z-Line from NSML and Z Line became a wholly owned subsidiary of our company. Z-Line has had limited operating activities since incorporation. On May 23, 2020, we formed a wholly owned subsidiary, Shenzhen Ezekiel Technology Co. Limited (“Ezekiel”) under the laws of the PRC. We currently operate our business through our subsidiaries, SAL, HSAL and Ezekiel. SAL and HSAL’s businesses constitute our e-commerce business segment and Ezekiel’s business belongs to our trading business segment. The e-commerce segment operates a shopping search engine “ Bibishengjia” Bibishengjia Bibishengjia |
Description of Business
Description of Business | 3 Months Ended |
Mar. 31, 2022 | |
Description of Business [Abstract] | |
DESCRIPTION OF BUSINESS | NOTE 2. DESCRIPTION OF BUSINESS HSAL’s e-Commerce business HSAL is an e-Commerce company that developed Bibishengjia, a Bibishengjia Bibishengjia Bibishengjia Bibishengjia Ezekiel’s petroleum-based products distribution business In October 2020, Ezekiel entered into the business of distribution of petroleum-based products, such as asphalt, heat conduction oil and machine (lubricating) oil. Ezekiel’s suppliers include large Chinese state-owned enterprises as well as reputable private Chinese companies. Ezekiel doesn’t take possession of the petroleum-based products sold to third parties which are stored in the supplier’s designated warehouse and is not responsible for delivery to the customers. Ezekiel’s multi-function lottery ticket machine business In late 2020, Ezekiel started a new business where it purchases custom-made multi-function lottery ticket machines and re-sells them to third parties. The machines are designed and manufactured by third parties with third party technologies. Ezekiel doesn’t own any intellectual property rights relating to the machines. Besides dispensing lottery tickets for which the machine owner retains 7-8% of the ticket sales price, the machines also function as a cellphone charging station for about $0.45 per hour and a disinfectant wipes dispenser at cost. The machine has a LED screen which allows a customer to browse the Bibishengjia The cost of each machine is approximately $950 and we sell these machines to third parties for about $1,375. We have generated revenue from sales of our machines to third parties. If and when we are able to install machines, as the owner and operator, we will generate revenue from the fees Ezekiel retains on all lottery ticket sales made by the machines, and fees collected from the cellphone charging station. |
Going Concern
Going Concern | 3 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 3. GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future. The Company, which had an accumulated deficit of $3,202,472 and a working capital deficit of $1,679,456 as of March 31, 2022, has incurred losses in most periods since inception. The recoverability of a major portion of the recorded asset amounts and realization of the portion of current liabilities into revenue shown in the accompanying balance sheets are dependent upon continued operations of the Company, which in turn are dependent upon the Company’s ability to raise additional financing and to succeed in its future operations. The Company will need additional cash resources to operate during the upcoming 12 months, and the continuation of the Company may be dependent upon the continuing financial support of investors, directors and/or shareholders of the Company. However, there is no assurance that efforts to raise equity or debt will be successful in raising sufficient funds to assure the eventual profitability of the Company. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These accompanying financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management plans to support the Company in operation and to maintain its business strategy to raise funds through public and private offerings and to rely on officers and directors to perform essential functions with minimal compensation. If we do not raise all of the money we need, we will have to find alternative sources including, loans from our officers, directors or others. Management has actively taken steps to revise its operating and financial requirements, which they believe will allow the Company to continue its operations for the next 12 months. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
Description of Business [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation and consolidation The consolidated financial statements of the Company have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements are presented in US Dollars and include the accounts of the Company and its subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation. The Company has limited operations and is considered to be in the development stage under ASC 915-15. The following table depicts the identity of the Company’s subsidiaries: Name of Subsidiary Place of Attributable Registered Syndicore Asia Limited (1) Hong Kong 100 HKD 1 Z-Line International E-Commerce Limited (2) Hong Kong 100 HKD 8,000,000 Hunan Syndicore Asia Limited (3) PRC 100 HKD 10,000,000 Shenzhen Ezekiel Technology Co. Limited (3) PRC 100 HKD 10,000,000 (1) A wholly owned subsidiary of ZZLL. (2) A wholly owned subsidiary of Syndicore Asia Limited since October 8, 2019 (previously 55% owned). (3) A wholly owned subsidiary of Syndicore Asia Limited. Use of estimates In preparing financial statements in conformity with accounting principles generally accepted in the United States management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the financial statements, as well as the reported amounts of revenues and expenses during the reporting year. These accounts and estimates include, but are not limited to, the valuation of accounts receivable, deferred income taxes and the estimation on useful lives of plant and equipment. Actual results could differ from those estimates. Concentrations of credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of accounts receivable. In respect of accounts receivable, the Company extends credit based on an evaluation of the customer’s financial condition, generally without requiring collateral or other security. The Company reviews the recoverable amount of each individual trade debt at each balance sheet date to ensure that adequate impairment losses are made for amounts that are not recoverable. Cash and cash equivalents Cash and cash equivalents include all cash, deposits in banks and other highly liquid investments with initial maturities of three months or less. The Company currently maintains bank accounts in HK and the PRC. Accounts receivable Accounts receivable are stated at the original amount less allowance made for doubtful receivables, if any, based on a review of all outstanding amounts at the year end. An allowance is also made when there is objective evidence that the Company will not be able to collect all amounts due according to original terms of receivables. Bad debts are written off when identified. The Company extends unsecured credit to customers in the normal course of business and believes all accounts receivable in excess of the allowances for doubtful receivables to be fully collectible. The Company does not accrue interest on trade accounts receivable. Pursuant to the Company’s credit policy exposure to credit risk is monitored on an on-going-basis where management performs credit evaluations on all customers that are sold services or products on account. The Company did not experience any bad debts during the quarters ended March 31, 2022 and 2021. Inventories Inventories are stated at the lower of cost or market value. The Company used the weighted average cost method of accounting for inventory. Inventories on hand are evaluated on an on-going basis to determine if any items are obsolete, spoiled, or in excess of future demand. The Company reviews its inventories for impairment and provides, if required, for an impairment charge that is charged directly to cost of sales when it has been determined the product is obsolete or spoiled, and the Company will not be able to sell it at a normal profit above its carrying cost. The Company’s primary inventories are multi-function lottery ticket machines. The Company did not experience any impairment on inventory during the quarter ended March 31, 2022. Property, Plant and Equipment Plant and equipment are stated at cost less accumulated depreciation. Cost represents the purchase price of the asset and other costs incurred to bring the asset into its existing use. Maintenance, repairs and betterments, including replacement of minor items, are charged to expense; major additions to physical properties are capitalized. Depreciation of plant and equipment is provided using the straight-line method over their estimated useful lives at the following annual rates: Furniture and fixtures 20% - 50% Office equipment 20% Plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell and are no longer depreciated. Customer advances and deposits SAL received a prepayment in connection with a 7-year agreement with Pretech. The Company is recognizing the prepayment in a straight line 7-year schedule until the agreement terms are fully delivered. This prepayment has been recorded as a customer deposit. HSAL received prepayments from customers for eggs and other various products. The Company records these receipts as customer advances and deposits until it has met all the criteria for recognition of revenue including the passing possession of the products to its customer, at such point Company will reduce the customer and deposits balance and credit the Company’s revenue. Revenue recognition The Company adopted ASC Topic 606, Revenue from Contracts with Customers 1. Identify the contract(s) with a customer; 2. Identify the performance obligations in the contract; 3. Determine the transaction price; 4. Allocate the transaction price to the performance obligations in the contract; and 5. Recognize revenue when (or as) the entity satisfies a performance obligation. In applying ASC 606, the Company recognizes revenue when the Company has negotiated the terms of the transaction, set forth the sales price, transferred of possession of the product to the customer, determined that the customer does not have the right to return the product, determined that the customer is able to further sell or transfer the product onto others for economic benefit without any other obligation to be fulfilled by the Company, and the Company is reasonably assured that funds have been or will be collected from the customer. SAL received prepayment of the full consideration of $1,000,000 under the Pretech Agreement in two installments in 2019 and 2020. The Company is recognizing such prepayment in a straight line 7-year schedule. Of the full consideration of the Pretech Agreement, the Company recorded an aggregate of $640,368 as customer advances as of March 31, 2022 Cost of Sales Cost of sales is mainly comprised of costs of multi-function lottery tickets machines, petroleum-based products, and various agriculture products. Selling Expense Selling expense in the first quarter of 2022, is mainly comprised of advertising and promotion cost on the Company’s Bibishengjia General and administrative Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Comprehensive income (loss) The Company has adopted FASB Accounting Standard Codification Topic 220 (“ASC 220”) “Comprehensive income”, which establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Accumulated other comprehensive income (loss) represents the accumulated balance of foreign currency translation adjustments of the Company. Leases The Company’s executive offices are located in the Carnival Commercial Building, 18 Java Road, North Point Hong Kong. Our current lease is from August 28, 2021 to August 27, 2023 at a monthly charge of HK$8,000 per month (approximately US$1,031 per month). The Company has successfully renewed its lease in the past and does not expect any difficulty in renewing it again. HSAL leases 683 square meters of office space at Tower E1, Li Gu Yu Yuan, No. 27 Wen Xuan Road, Chang Sha, Hunan Province, China at a monthly charge of RMB 22,523 per month (approximately $3,264 per month). The term of the lease is from May 15, 2019 to May 14, 2024. The lease may be renewed upon three months prior written notice. Ezekiel leases 297square meters of office space at Xin Li Kang Tower, Suite 22C, Nanshan District, Shenzhen, Guangdong Province, China at a monthly charge of RMB 36,440 per month (approximately $5,281 per month). The term of the lease is from April 1, 2020 to April 9, 2023. The lease may be renewed upon six months prior written notice. Under Topic 842, operating lease expense is generally recognized evenly over the term of the lease. The Company has operating leases primarily consisting of facilities with remaining lease terms of approximately two to four years. The Company does not have the option to terminate the leases early. Leases with an initial term of twelve months or less are not recorded on the balance sheet. For lease agreements entered into or reassessed after the adoption of Topic 842, the Company has combined the lease and non-lease components in determining the lease liabilities and ROU assets. The Company’s lease agreements generally do not provide an implicit borrowing rate; therefore, an internal incremental borrowing rate is determined based on information available at lease commencement date for purposes of determining the present value of lease payments. The Company used the incremental borrowing rate on December 29, 2018 of 4.5% for all leases that commenced prior to that date. ROU lease assets and lease liabilities for our operating leases were recorded in the balance sheet as follows: Supplemental balance sheet information related to the operating lease for office was as follows: As of Right-of-use assets $ 169,761 Lease payment liability-current 126,534 Lease payment liability-non-current 65,663 Total lease payment liability $ 192,197 The remaining lease term and discount rate for the operating lease for office were as follows as of March 31, 2022: Remaining lease term (years) 3 Discount rate 4.50 % The following is a schedule, by fiscal years, of the maturities of lease liabilities as of March 31, 2022: 2022 remaining $ 99,250 2023 80,164 2024 and thereafter 20,501 Total lease payments 199,915 Less: imputed interest 7,718 Present value of lease liabilities $ 192,197 Foreign currency translation For financial reporting purposes, the financial statements of the Company which are prepared using the functional currency have been translated into United States Dollars (“US$”). The functional currencies of the Company’s two business segments based in the PRC is Chinese Renminbi (“RMB”) and Hong Kong dollars (“HKD”), respectively. Transactions in foreign currencies are initially recorded at the functional currency rate ruling at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the consolidated statements of operations. Monetary assets and liabilities denominated in foreign currency are translated at the functional currency rate of exchange ruling at the balance sheet date. Any differences are taken to profit or loss as a gain or loss on foreign currency translation in the consolidated statements of operations. In accordance with ASC 830, Foreign Currency Matters, the Company translated the assets and liabilities into US$ using the rate of exchange prevailing at the applicable balance sheet date and the consolidated statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation are recorded in shareholders’ equity as part of accumulated other comprehensive income. The average rate used in translation of RMB to US$ is a ratio of US$1.00 = RMB 6.345363. The average rate used in translation of HKD to US$ is a ratio of US$1.00 = HKD 7.804598. Below is a table with foreign exchange rates used for translation: March 31, December 31, Average Yearly(average rate) Chinese Renminbi (RMB) RMB 6.345363 RMB 6.44995 United States dollar ($) $ 1.00 $ 1.00 March 31, December 31, Year Ended (Closing rate) Chinese Renminbi (RMB) RMB 6.341753 RMB 6.35877 United States dollar ($) $ 1.00 $ 1.00 Average yearly (average rate) March 31, December 31, Hong Kong dollar (HKD) HKD 7.804598 HKD 7.772253 United States dollar ($) $ 1.00 $ 1.00 March 31, December 31, Year Ended (Closing rate) Hong Kong dollar (HKD) HKD 7.830325 HKD 7.797129 United States dollar ($) $ 1.00 $ 1.00 Stock-based compensation The Company does not provide any stock-based compensation. Basic and diluted earnings (loss) per share Basic and diluted earnings (loss) per common share was computed by dividing net income (loss) by the weighted average number of common shares outstanding. The following table sets forth the computation of basic and diluted (loss) earnings per share: As of As of Numerator Net income (loss) $ (411,663 ) $ 115,136 Denominator Weighted average common shares-basic and diluted 20,277,448 20,277,448 Earnings (loss) per common share-basic and diluted $ (0.02 ) $ 0.01 Commitments and contingencies Liabilities for loss contingencies arising from claims, assessments, litigation, fines and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. Recently issued accounting pronouncements adopted On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments – Credit Losses on Financial Instruments,” which requires that expected credit losses relating to financial assets be measured on an amortized cost basis and available-for-sale debt securities be recorded through an allowance for credit losses. ASU 2016-13 limits the amount of credit losses to be recognized for available-for-sale debt securities to the amount by which carrying value exceeds fair value and also requires the reversal of previously recognized credit losses if fair value increases. Also, for available-for-sale debt securities with unrealized losses, the standard eliminates the concept of other-than-temporary impairments and requires allowances to be recorded instead of reducing the amortized cost of the investment. The adoption by the Company of the new guidance did not have a material impact on the Company’s consolidated financial statements. Our condensed consolidated financial statements for the quarter ended March 31, 2022 are presented under the new standard, while comparative periods presented are not adjusted and continue to be reported in accordance with the Company’s historical accounting policy. Other pronouncements issued by the FASB or other authoritative accounting standards with future effective dates are either not applicable or not significant to the condensed consolidated financial statements of the Company. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 5. INCOME TAXES The Company and its subsidiaries file separate income tax returns. The Company was incorporated in Delaware and is subject to United States federal and state income taxes. The Company did not generate taxable income in the United States during the quarters ended March 31, 2022 and 2021. Two subsidiaries were incorporated in Hong Kong and are subject to Hong Kong Profits Tax at 16.5% for the quarters ended March 31, 2022 and 2021. Provision for Hong Kong profits tax has not been made for the periods presented as the subsidiaries had no assessable profits during the periods. One subsidiary is incorporated in the PRC and is subject to PRC Income Tax at 25% for the quarters ended March 31, 2022 and 2021. Provision for PRC Income Tax has not been made for the year presented as the subsidiary had no assessable profits during the year. Deferred taxes are determined based on the temporary differences between the financial statement and income tax bases of assets and liabilities as measured by the enacted tax rates which will be in effect when these differences reverse. For the quarters ended March 31, 2022 and 2021, the Company has tax loss carrying-forwards, which does not recognize deferred tax assets as it is not probable that future taxable profits against which the losses can be utilized will be available in the relevant tax jurisdiction and entity. |
Short Term Loan
Short Term Loan | 3 Months Ended |
Mar. 31, 2022 | |
Debt Disclosure [Abstract] | |
SHORT TERM LOAN | NOTE 6. SHORT TERM LOAN On December 31, 2021, Ezekiel entered into a loan agreement with Mr. Jianjun Du, a Chinese resident, whereby Ezekiel borrowed RMB 10 million from Mr. Du for operating purposes. The initial term of the loan was from December 14, 2021 to May 13, 2022 during which time there was no interest. The term of the loan may be extended upon the parties’ mutual agreement. After the initial term, the loan bears annual interest of 10%. (The Company repaid RMB 5 million in the second quarter of 2022and RMB 5 million remains outstanding.) |
Amount Due from_to Related Part
Amount Due from/to Related Parties | 3 Months Ended |
Mar. 31, 2022 | |
Amount Due from/to Related Parties [Abstract] | |
AMOUNT DUE FROM/TO RELATED PARTIES | NOTE 7. AMOUNT DUE FROM/TO RELATED PARTIES A related party is generally defined as (i) any person and their immediate families that holds 10% or more of the Company’s securities, (ii) the Company’s management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. As of March 31, 2022, the Company had provided $434,744 in the normal course of business to businesses owned by related parties for their operating expenses as shown in the table below. As of March 31, 2022, the Company had received net advances of $1,345,958 from certain major shareholders and related parties for use in its operations as shown in the table below. These advances bear no interest, are not collateralized and do not have specified repayment terms. Amounts due from related parties are as follows: March 31, December 31, Amount due from related parties: Hunan Zhong Zong Hong Fu Culture Industry Company Limited (b)(d) $ $ 19,049 Hunan Zhong Zong Lianlian Information Technology Limited Company (e) 415,507 395,346 Changsha Gengtong Property Management Co., Ltd. (b) - - Various other shareholders and directors 19,237 - $ 434,744 $ 414,395 Amount due to related parties: $ $ - Wei Zhu (a) 231,280 232,265 Shen Tian (c) 627,339 626,438 Harry Cheung 446,855 448,742 Various other shareholders and directors 40,484 40,656 $ 1,345,958 $ 1,348,101 (a) Major shareholder of the Company. (b) Under common control. (c) Ezekiel’s general manager. (d) Hunan Zhong Zong Hong Fu Culture Industry Company Limited (“Hong Fu”): 100% of the equity interests of Hong Fu are owned by Wei Liang and Wei Zhu, the two majority shareholders of the Company. Hong Fu provides services to the cultural and entertainment industries and related marketing services to other industries. Hong Fu has been servicing the Company by making available more than a dozen of online live promoters/influencers trained by Hong Fu to HSAL on a continuous basis in the Bibishengjia (e) Hunan Zhong Zong Lianlian Information Technology Limited Company (“Lianlian”): 100% of the equity interests of Lianlian are owned by Wei Liang and Wei Zhu, the two majority shareholders of the Company. Lianlian is engaged in technology and online-to-offline marketing services. Lianlian served the Company by utilizing its local connections and local marketing resources to help the Company secure a partnerships in March 2020 with the government of Hunan province to help to market local products on the Bibishengjia Bibishengjia |
Stock Options
Stock Options | 3 Months Ended |
Mar. 31, 2022 | |
Stock Options [Abstract] | |
STOCK OPTIONS | NOTE 8. STOCK OPTIONS During the quarters ended March 31, 2022 and 2021, the Company did not issue any stock options and there were no stock options issued or outstanding. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENTS | NOTE 9. FAIR VALUE MEASUREMENTS FASB Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosures provides a single definition of fair value, a hierarchy for measuring fair value and expanded disclosures about fair value adjustments. Various inputs are used in determining the fair value of assets and liabilities. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are as follows: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means; and Level 3 – Inputs that are unobservable for the asset or liability, including the Trust’s assumptions used in determining the fair value of investments There were no transfers between Level 1 and other Levels during the quarter ended March 31, 2022 and 2021. |
Segment Information
Segment Information | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | NOTE 10 SEGMENT INFORMATION FASB Accounting Standard Codification Topic 280 (ASC 280) “Segment Reporting” establishes standards for reporting information about operating segments in financial statements. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making Company, in deciding how to allocate resources and in assessing performance. General Information of Reportable Segments: Since the fourth quarter of 2020, the Company has been operating in two reportable segments: e-commerce and trading. The e-commerce segment operates a shopping search engine Bibishengjia Bibishengjia Bibishengjia The Company’s reportable business segments are strategic business units that offer different products. Each segment is managed independently because they require different operations and markets to distinct classes of customers. For Quarter ended March 31, 2022 E-Commerce Trading All Other Total Revenue $ 405,583 $ - $ - $ 405,583 Cost of revenues $ (99,074 ) $ (455 ) $ - $ (99,529 ) Gross profit (loss) $ 306,509 $ (455 ) $ - $ 306,053 Selling and marketing $ - $ - $ - $ - General and administrative $ 430,774 $ 250,167 $ 9,274 $ 694,109 Operating income (loss) $ (124,265 ) $ (250,622 ) $ (9,274 ) $ (388,055 ) For Quarter ended March 31, 2021 E-Commerce Total Revenue $ 380,376 $ 380,376 Cost of revenues $ (9,243 ) $ (9,243 ) Gross profit (loss) $ 371,133 $ 371,133 Operating income $ 125,697 $ 125,697 Reconciliations of Reportable Segment Revenues, Profit or Loss, and Assets, to the Consolidated Totals as of the quarter ended March 31, 2022. Quarter Ended March 31, Revenue 2022 Total revenues from reportable segments $ 405,583 Elimination of inter segments revenues - Total consolidated revenues $ 405,583 Profit or Loss Total income (loss) from reportable segments $ (388,055 ) Elimination of inter segments profit or loss Unallocated amount: Other corporation expense (23,608 ) Total consolidated net loss $ (411,663 ) Assets Total assets from reportable segments $ 3,878,160 Unallocated amount: Other unallocated assets – Holding Company 381 Total consolidated assets $ 3,878,541 |
Concentration and Risk
Concentration and Risk | 3 Months Ended |
Mar. 31, 2022 | |
Risks and Uncertainties [Abstract] | |
CONCENTRATION AND RISK | NOTE 11 CONCENTRATION AND RISK Credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents, accounts receivable, and other receivables. The Company maintains certain bank accounts in the PRC and in Hong Kong. As of March 31, 2022, $1,605,387.79 and $7,326.61 respectively, were deposited in major financial institutions located in Mainland China and Hong Kong. Management believes that these financial institutions are of high credit quality and continually monitor the credit worthiness of these financial institutions. Currency convertibility risk Substantially all of the Company’s businesses is transacted in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices and signed contracts. These exchange control measures imposed by the PRC government authorities may restrict the ability of the Company’s PRC subsidiary to transfer its net assets, to the Company through loans, advances or cash dividends. Major customers The Company engages in e-commerce and trading businesses in the PRC. All revenues were generated from customers located in the PRC. Due to the Covid shutdown the Company’s sales of multi-function lottery machines was completely shut down. We only make sales of petroleum-based products on an opportunistic basis when it is able to obtain orders. We do not have any long term customers or supply agreements. In the first quarter of 2022, there were no sales of petroleum based products because of lack of customer interests. We do not believe that the shutdowns in China due to COVID-19 were a direct cause for the lack of sales of petroleum-based products. For the quarter ended March 31, 2021, no customer accounted for 10% or more of the Company’s sales. Major vendors For the quarter ended March 31, 2021, no vendor accounted for 10% or more of the Company’s purchases. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 12. SUBSEQUENT EVENTS The Company’s management has performed subsequent events procedures through the date the consolidated financial statements are issued. There were no subsequent events requiring adjustment or disclosure in the consolidated financial statements. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Description of Business [Abstract] | |
Basis of presentation and consolidation | Basis of presentation and consolidation The consolidated financial statements of the Company have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements are presented in US Dollars and include the accounts of the Company and its subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation. The Company has limited operations and is considered to be in the development stage under ASC 915-15. The following table depicts the identity of the Company’s subsidiaries: Name of Subsidiary Place of Attributable Registered Syndicore Asia Limited (1) Hong Kong 100 HKD 1 Z-Line International E-Commerce Limited (2) Hong Kong 100 HKD 8,000,000 Hunan Syndicore Asia Limited (3) PRC 100 HKD 10,000,000 Shenzhen Ezekiel Technology Co. Limited (3) PRC 100 HKD 10,000,000 (1) A wholly owned subsidiary of ZZLL. (2) A wholly owned subsidiary of Syndicore Asia Limited since October 8, 2019 (previously 55% owned). (3) A wholly owned subsidiary of Syndicore Asia Limited. |
Use of estimates | Use of estimates In preparing financial statements in conformity with accounting principles generally accepted in the United States management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the financial statements, as well as the reported amounts of revenues and expenses during the reporting year. These accounts and estimates include, but are not limited to, the valuation of accounts receivable, deferred income taxes and the estimation on useful lives of plant and equipment. Actual results could differ from those estimates. |
Concentrations of credit risk | Concentrations of credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of accounts receivable. In respect of accounts receivable, the Company extends credit based on an evaluation of the customer’s financial condition, generally without requiring collateral or other security. The Company reviews the recoverable amount of each individual trade debt at each balance sheet date to ensure that adequate impairment losses are made for amounts that are not recoverable. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents include all cash, deposits in banks and other highly liquid investments with initial maturities of three months or less. The Company currently maintains bank accounts in HK and the PRC. |
Accounts receivable | Accounts receivable Accounts receivable are stated at the original amount less allowance made for doubtful receivables, if any, based on a review of all outstanding amounts at the year end. An allowance is also made when there is objective evidence that the Company will not be able to collect all amounts due according to original terms of receivables. Bad debts are written off when identified. The Company extends unsecured credit to customers in the normal course of business and believes all accounts receivable in excess of the allowances for doubtful receivables to be fully collectible. The Company does not accrue interest on trade accounts receivable. Pursuant to the Company’s credit policy exposure to credit risk is monitored on an on-going-basis where management performs credit evaluations on all customers that are sold services or products on account. The Company did not experience any bad debts during the quarters ended March 31, 2022 and 2021. |
Inventories | Inventories Inventories are stated at the lower of cost or market value. The Company used the weighted average cost method of accounting for inventory. Inventories on hand are evaluated on an on-going basis to determine if any items are obsolete, spoiled, or in excess of future demand. The Company reviews its inventories for impairment and provides, if required, for an impairment charge that is charged directly to cost of sales when it has been determined the product is obsolete or spoiled, and the Company will not be able to sell it at a normal profit above its carrying cost. The Company’s primary inventories are multi-function lottery ticket machines. The Company did not experience any impairment on inventory during the quarter ended March 31, 2022. |
Property, Plant and Equipment | Property, Plant and Equipment Plant and equipment are stated at cost less accumulated depreciation. Cost represents the purchase price of the asset and other costs incurred to bring the asset into its existing use. Maintenance, repairs and betterments, including replacement of minor items, are charged to expense; major additions to physical properties are capitalized. Depreciation of plant and equipment is provided using the straight-line method over their estimated useful lives at the following annual rates: Furniture and fixtures 20% - 50% Office equipment 20% Plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell and are no longer depreciated. |
Customer advances and deposits | Customer advances and deposits SAL received a prepayment in connection with a 7-year agreement with Pretech. The Company is recognizing the prepayment in a straight line 7-year schedule until the agreement terms are fully delivered. This prepayment has been recorded as a customer deposit. HSAL received prepayments from customers for eggs and other various products. The Company records these receipts as customer advances and deposits until it has met all the criteria for recognition of revenue including the passing possession of the products to its customer, at such point Company will reduce the customer and deposits balance and credit the Company’s revenue. |
Revenue recognition | Revenue recognition The Company adopted ASC Topic 606, Revenue from Contracts with Customers 1. Identify the contract(s) with a customer; 2. Identify the performance obligations in the contract; 3. Determine the transaction price; 4. Allocate the transaction price to the performance obligations in the contract; and 5. Recognize revenue when (or as) the entity satisfies a performance obligation. In applying ASC 606, the Company recognizes revenue when the Company has negotiated the terms of the transaction, set forth the sales price, transferred of possession of the product to the customer, determined that the customer does not have the right to return the product, determined that the customer is able to further sell or transfer the product onto others for economic benefit without any other obligation to be fulfilled by the Company, and the Company is reasonably assured that funds have been or will be collected from the customer. SAL received prepayment of the full consideration of $1,000,000 under the Pretech Agreement in two installments in 2019 and 2020. The Company is recognizing such prepayment in a straight line 7-year schedule. Of the full consideration of the Pretech Agreement, the Company recorded an aggregate of $640,368 as customer advances as of March 31, 2022 |
Cost of Sales | Cost of Sales Cost of sales is mainly comprised of costs of multi-function lottery tickets machines, petroleum-based products, and various agriculture products. |
Selling Expense | Selling Expense Selling expense in the first quarter of 2022, is mainly comprised of advertising and promotion cost on the Company’s Bibishengjia General and administrative |
Income taxes | Income taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. |
Comprehensive income (loss) | Comprehensive income (loss) The Company has adopted FASB Accounting Standard Codification Topic 220 (“ASC 220”) “Comprehensive income”, which establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Accumulated other comprehensive income (loss) represents the accumulated balance of foreign currency translation adjustments of the Company. |
Leases | Leases The Company’s executive offices are located in the Carnival Commercial Building, 18 Java Road, North Point Hong Kong. Our current lease is from August 28, 2021 to August 27, 2023 at a monthly charge of HK$8,000 per month (approximately US$1,031 per month). The Company has successfully renewed its lease in the past and does not expect any difficulty in renewing it again. HSAL leases 683 square meters of office space at Tower E1, Li Gu Yu Yuan, No. 27 Wen Xuan Road, Chang Sha, Hunan Province, China at a monthly charge of RMB 22,523 per month (approximately $3,264 per month). The term of the lease is from May 15, 2019 to May 14, 2024. The lease may be renewed upon three months prior written notice. Ezekiel leases 297square meters of office space at Xin Li Kang Tower, Suite 22C, Nanshan District, Shenzhen, Guangdong Province, China at a monthly charge of RMB 36,440 per month (approximately $5,281 per month). The term of the lease is from April 1, 2020 to April 9, 2023. The lease may be renewed upon six months prior written notice. Under Topic 842, operating lease expense is generally recognized evenly over the term of the lease. The Company has operating leases primarily consisting of facilities with remaining lease terms of approximately two to four years. The Company does not have the option to terminate the leases early. Leases with an initial term of twelve months or less are not recorded on the balance sheet. For lease agreements entered into or reassessed after the adoption of Topic 842, the Company has combined the lease and non-lease components in determining the lease liabilities and ROU assets. The Company’s lease agreements generally do not provide an implicit borrowing rate; therefore, an internal incremental borrowing rate is determined based on information available at lease commencement date for purposes of determining the present value of lease payments. The Company used the incremental borrowing rate on December 29, 2018 of 4.5% for all leases that commenced prior to that date. ROU lease assets and lease liabilities for our operating leases were recorded in the balance sheet as follows: Supplemental balance sheet information related to the operating lease for office was as follows: As of Right-of-use assets $ 169,761 Lease payment liability-current 126,534 Lease payment liability-non-current 65,663 Total lease payment liability $ 192,197 The remaining lease term and discount rate for the operating lease for office were as follows as of March 31, 2022: Remaining lease term (years) 3 Discount rate 4.50 % The following is a schedule, by fiscal years, of the maturities of lease liabilities as of March 31, 2022: 2022 remaining $ 99,250 2023 80,164 2024 and thereafter 20,501 Total lease payments 199,915 Less: imputed interest 7,718 Present value of lease liabilities $ 192,197 |
Foreign currency translation | Foreign currency translation For financial reporting purposes, the financial statements of the Company which are prepared using the functional currency have been translated into United States Dollars (“US$”). The functional currencies of the Company’s two business segments based in the PRC is Chinese Renminbi (“RMB”) and Hong Kong dollars (“HKD”), respectively. Transactions in foreign currencies are initially recorded at the functional currency rate ruling at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the consolidated statements of operations. Monetary assets and liabilities denominated in foreign currency are translated at the functional currency rate of exchange ruling at the balance sheet date. Any differences are taken to profit or loss as a gain or loss on foreign currency translation in the consolidated statements of operations. In accordance with ASC 830, Foreign Currency Matters, the Company translated the assets and liabilities into US$ using the rate of exchange prevailing at the applicable balance sheet date and the consolidated statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation are recorded in shareholders’ equity as part of accumulated other comprehensive income. The average rate used in translation of RMB to US$ is a ratio of US$1.00 = RMB 6.345363. The average rate used in translation of HKD to US$ is a ratio of US$1.00 = HKD 7.804598. Below is a table with foreign exchange rates used for translation: March 31, December 31, Average Yearly(average rate) Chinese Renminbi (RMB) RMB 6.345363 RMB 6.44995 United States dollar ($) $ 1.00 $ 1.00 March 31, December 31, Year Ended (Closing rate) Chinese Renminbi (RMB) RMB 6.341753 RMB 6.35877 United States dollar ($) $ 1.00 $ 1.00 Average yearly (average rate) March 31, December 31, Hong Kong dollar (HKD) HKD 7.804598 HKD 7.772253 United States dollar ($) $ 1.00 $ 1.00 March 31, December 31, Year Ended (Closing rate) Hong Kong dollar (HKD) HKD 7.830325 HKD 7.797129 United States dollar ($) $ 1.00 $ 1.00 |
Stock-based compensation | Stock-based compensation The Company does not provide any stock-based compensation. |
Basic and diluted earnings (loss) per share | Basic and diluted earnings (loss) per share Basic and diluted earnings (loss) per common share was computed by dividing net income (loss) by the weighted average number of common shares outstanding. The following table sets forth the computation of basic and diluted (loss) earnings per share: As of As of Numerator Net income (loss) $ (411,663 ) $ 115,136 Denominator Weighted average common shares-basic and diluted 20,277,448 20,277,448 Earnings (loss) per common share-basic and diluted $ (0.02 ) $ 0.01 |
Commitments and contingencies | Commitments and contingencies Liabilities for loss contingencies arising from claims, assessments, litigation, fines and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. |
Recently issued accounting pronouncements adopted | Recently issued accounting pronouncements adopted On January 1, 2020, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments – Credit Losses on Financial Instruments,” which requires that expected credit losses relating to financial assets be measured on an amortized cost basis and available-for-sale debt securities be recorded through an allowance for credit losses. ASU 2016-13 limits the amount of credit losses to be recognized for available-for-sale debt securities to the amount by which carrying value exceeds fair value and also requires the reversal of previously recognized credit losses if fair value increases. Also, for available-for-sale debt securities with unrealized losses, the standard eliminates the concept of other-than-temporary impairments and requires allowances to be recorded instead of reducing the amortized cost of the investment. The adoption by the Company of the new guidance did not have a material impact on the Company’s consolidated financial statements. Our condensed consolidated financial statements for the quarter ended March 31, 2022 are presented under the new standard, while comparative periods presented are not adjusted and continue to be reported in accordance with the Company’s historical accounting policy. Other pronouncements issued by the FASB or other authoritative accounting standards with future effective dates are either not applicable or not significant to the condensed consolidated financial statements of the Company. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Description of Business [Abstract] | |
Schedule of investments in subsidiaries | Name of Subsidiary Place of Attributable Registered Syndicore Asia Limited (1) Hong Kong 100 HKD 1 Z-Line International E-Commerce Limited (2) Hong Kong 100 HKD 8,000,000 Hunan Syndicore Asia Limited (3) PRC 100 HKD 10,000,000 Shenzhen Ezekiel Technology Co. Limited (3) PRC 100 HKD 10,000,000 (1) A wholly owned subsidiary of ZZLL. (2) A wholly owned subsidiary of Syndicore Asia Limited since October 8, 2019 (previously 55% owned). (3) A wholly owned subsidiary of Syndicore Asia Limited. |
Schedule of depreciation rates | Furniture and fixtures 20% - 50% Office equipment 20% |
Schedule of supplemental balance sheet information related to the operating lease | As of Right-of-use assets $ 169,761 Lease payment liability-current 126,534 Lease payment liability-non-current 65,663 Total lease payment liability $ 192,197 Remaining lease term (years) 3 Discount rate 4.50 % |
Schedule of maturities of lease liabilities | 2022 remaining $ 99,250 2023 80,164 2024 and thereafter 20,501 Total lease payments 199,915 Less: imputed interest 7,718 Present value of lease liabilities $ 192,197 |
Schedule of foreign exchange rates | March 31, December 31, Average Yearly(average rate) Chinese Renminbi (RMB) RMB 6.345363 RMB 6.44995 United States dollar ($) $ 1.00 $ 1.00 March 31, December 31, Year Ended (Closing rate) Chinese Renminbi (RMB) RMB 6.341753 RMB 6.35877 United States dollar ($) $ 1.00 $ 1.00 Average yearly (average rate) March 31, December 31, Hong Kong dollar (HKD) HKD 7.804598 HKD 7.772253 United States dollar ($) $ 1.00 $ 1.00 March 31, December 31, Year Ended (Closing rate) Hong Kong dollar (HKD) HKD 7.830325 HKD 7.797129 United States dollar ($) $ 1.00 $ 1.00 |
Schedule of basic and diluted (loss) earnings per share | As of As of Numerator Net income (loss) $ (411,663 ) $ 115,136 Denominator Weighted average common shares-basic and diluted 20,277,448 20,277,448 Earnings (loss) per common share-basic and diluted $ (0.02 ) $ 0.01 |
Amount Due from_to Related Pa_2
Amount Due from/to Related Parties (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Amount Due from/to Related Parties (Tables) [Line Items] | |
Schedule of amounts due from related parties | March 31, December 31, Amount due from related parties: Hunan Zhong Zong Hong Fu Culture Industry Company Limited (b)(d) $ $ 19,049 Hunan Zhong Zong Lianlian Information Technology Limited Company (e) 415,507 395,346 Changsha Gengtong Property Management Co., Ltd. (b) - - Various other shareholders and directors 19,237 - $ 434,744 $ 414,395 Amount due to related parties: $ $ - Wei Zhu (a) 231,280 232,265 Shen Tian (c) 627,339 626,438 Harry Cheung 446,855 448,742 Various other shareholders and directors 40,484 40,656 $ 1,345,958 $ 1,348,101 (a) Major shareholder of the Company. (b) Under common control. (c) Ezekiel’s general manager. (d) Hunan Zhong Zong Hong Fu Culture Industry Company Limited (“Hong Fu”): 100% of the equity interests of Hong Fu are owned by Wei Liang and Wei Zhu, the two majority shareholders of the Company. Hong Fu provides services to the cultural and entertainment industries and related marketing services to other industries. Hong Fu has been servicing the Company by making available more than a dozen of online live promoters/influencers trained by Hong Fu to HSAL on a continuous basis in the Bibishengjia (e) Hunan Zhong Zong Lianlian Information Technology Limited Company (“Lianlian”): 100% of the equity interests of Lianlian are owned by Wei Liang and Wei Zhu, the two majority shareholders of the Company. Lianlian is engaged in technology and online-to-offline marketing services. Lianlian served the Company by utilizing its local connections and local marketing resources to help the Company secure a partnerships in March 2020 with the government of Hunan province to help to market local products on the Bibishengjia Bibishengjia |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting [Abstract] | |
Schedule of reported segment profit or loss and segment assets | For Quarter ended March 31, 2022 E-Commerce Trading All Other Total Revenue $ 405,583 $ - $ - $ 405,583 Cost of revenues $ (99,074 ) $ (455 ) $ - $ (99,529 ) Gross profit (loss) $ 306,509 $ (455 ) $ - $ 306,053 Selling and marketing $ - $ - $ - $ - General and administrative $ 430,774 $ 250,167 $ 9,274 $ 694,109 Operating income (loss) $ (124,265 ) $ (250,622 ) $ (9,274 ) $ (388,055 ) For Quarter ended March 31, 2021 E-Commerce Total Revenue $ 380,376 $ 380,376 Cost of revenues $ (9,243 ) $ (9,243 ) Gross profit (loss) $ 371,133 $ 371,133 Operating income $ 125,697 $ 125,697 |
Schedule of reportable segment revenues, profit or loss, and asset | Quarter Ended March 31, Revenue 2022 Total revenues from reportable segments $ 405,583 Elimination of inter segments revenues - Total consolidated revenues $ 405,583 Profit or Loss Total income (loss) from reportable segments $ (388,055 ) Elimination of inter segments profit or loss Unallocated amount: Other corporation expense (23,608 ) Total consolidated net loss $ (411,663 ) Assets Total assets from reportable segments $ 3,878,160 Unallocated amount: Other unallocated assets – Holding Company 381 Total consolidated assets $ 3,878,541 |
Organization and Basis of Pre_2
Organization and Basis of Presentation (Details) | 1 Months Ended | |
Aug. 18, 2016 | Oct. 08, 2019 | |
Organization and Basis of Presentation (Details) [Line Items] | ||
Description of ownership percentage | We initially owned 55% and NSML owned 45% of the equity interests in Z-Line, which was formed to provide consumer-to-consumer, business-to-consumer and business-to-business-sales services via web portals. | |
Business Combination [Member] | ||
Organization and Basis of Presentation (Details) [Line Items] | ||
Equity interest percentage | 45% |
Description of Business (Detail
Description of Business (Details) - USD ($) | 3 Months Ended | |
Oct. 08, 2019 | Mar. 31, 2022 | |
Description of Business (Details) [Line Items] | ||
Ticket sales price, percentage | 55% | |
Dispenser at cost | $ 0.45 | |
Cost of each machine value | 950 | |
Machines to third parties amount | $ 1,375 | |
Minimum [Member] | ||
Description of Business (Details) [Line Items] | ||
Ticket sales price, percentage | 7% | |
Maximum [Member] | ||
Description of Business (Details) [Line Items] | ||
Ticket sales price, percentage | 8% |
Going Concern (Details)
Going Concern (Details) | Mar. 31, 2022 USD ($) |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Accumulated deficit | $ 3,202,472 |
Working capital deficit | $ 1,679,456 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) | 3 Months Ended | 12 Months Ended | |||||
Oct. 08, 2019 | Dec. 29, 2018 | Mar. 31, 2022 USD ($) | Mar. 31, 2022 CNY (¥) | Mar. 31, 2022 HKD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | |
Summary of Significant Accounting Policies (Details) [Line Items] | |||||||
Ownership percentage | 55% | ||||||
Pretech agreement | $ 1,000,000 | $ 1,000,000 | |||||
Customer advance amount | $ 640,368 | ||||||
Lease, description | Our current lease is from August 28, 2021 to August 27, 2023 at a monthly charge of HK$8,000 per month (approximately US$1,031 per month). The Company has successfully renewed its lease in the past and does not expect any difficulty in renewing it again. | Our current lease is from August 28, 2021 to August 27, 2023 at a monthly charge of HK$8,000 per month (approximately US$1,031 per month). The Company has successfully renewed its lease in the past and does not expect any difficulty in renewing it again. | Our current lease is from August 28, 2021 to August 27, 2023 at a monthly charge of HK$8,000 per month (approximately US$1,031 per month). The Company has successfully renewed its lease in the past and does not expect any difficulty in renewing it again. | ||||
Lease, description | HSAL leases 683 square meters of office space at Tower E1, Li Gu Yu Yuan, No. 27 Wen Xuan Road, Chang Sha, Hunan Province, China at a monthly charge of RMB 22,523 per month (approximately $3,264 per month). The term of the lease is from May 15, 2019 to May 14, 2024. The lease may be renewed upon three months prior written notice. | HSAL leases 683 square meters of office space at Tower E1, Li Gu Yu Yuan, No. 27 Wen Xuan Road, Chang Sha, Hunan Province, China at a monthly charge of RMB 22,523 per month (approximately $3,264 per month). The term of the lease is from May 15, 2019 to May 14, 2024. The lease may be renewed upon three months prior written notice. | HSAL leases 683 square meters of office space at Tower E1, Li Gu Yu Yuan, No. 27 Wen Xuan Road, Chang Sha, Hunan Province, China at a monthly charge of RMB 22,523 per month (approximately $3,264 per month). The term of the lease is from May 15, 2019 to May 14, 2024. The lease may be renewed upon three months prior written notice. | ||||
Percentage of incremental borrowing | 4.50% | ||||||
Average rate used in translation | $ 1 | ¥ 6.345363 | |||||
Average rate amount | $ 1 | $ 7.804598 | |||||
Hunan Syndicore Asia Limited [Member] | |||||||
Summary of Significant Accounting Policies (Details) [Line Items] | |||||||
Lease, description | The term of the lease is from May 15, 2019 to May 14, 2024. The lease may be renewed upon three months prior written notice. | The term of the lease is from May 15, 2019 to May 14, 2024. The lease may be renewed upon three months prior written notice. | The term of the lease is from May 15, 2019 to May 14, 2024. The lease may be renewed upon three months prior written notice. | ||||
Shenzhen Ezekiel Technology Co. Limited [Member] | |||||||
Summary of Significant Accounting Policies (Details) [Line Items] | |||||||
Lease, description | Ezekiel leases 297square meters of office space at Xin Li Kang Tower, Suite 22C, Nanshan District, Shenzhen, Guangdong Province, China at a monthly charge of RMB 36,440 per month (approximately $5,281 per month). The term of the lease is from April 1, 2020 to April 9, 2023. The lease may be renewed upon six months prior written notice. | Ezekiel leases 297square meters of office space at Xin Li Kang Tower, Suite 22C, Nanshan District, Shenzhen, Guangdong Province, China at a monthly charge of RMB 36,440 per month (approximately $5,281 per month). The term of the lease is from April 1, 2020 to April 9, 2023. The lease may be renewed upon six months prior written notice. | Ezekiel leases 297square meters of office space at Xin Li Kang Tower, Suite 22C, Nanshan District, Shenzhen, Guangdong Province, China at a monthly charge of RMB 36,440 per month (approximately $5,281 per month). The term of the lease is from April 1, 2020 to April 9, 2023. The lease may be renewed upon six months prior written notice. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Schedule of investments in subsidiaries | 3 Months Ended | |
Mar. 31, 2022 shares | ||
Syndicore Asia Limited [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Place of Incorporation | Hong Kong | [1] |
Attributable Equity Interest % | 100% | [1] |
Registered Capital | 1 | [1] |
Z-Line International E-Commerce Limited [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Place of Incorporation | Hong Kong | [2] |
Attributable Equity Interest % | 100% | [2] |
Registered Capital | 8,000,000 | [2] |
Hunan Syndicore Asia Limited [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Place of Incorporation | PRC | [3] |
Attributable Equity Interest % | 100% | [3] |
Registered Capital | 10,000,000 | [3] |
Shenzhen Ezekiel Technology Co. Limited [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Place of Incorporation | PRC | [3] |
Attributable Equity Interest % | 100% | [3] |
Registered Capital | 10,000,000 | [3] |
[1] A wholly owned subsidiary of ZZLL. A wholly owned subsidiary of Syndicore Asia Limited since October 8, 2019 (previously 55% owned). A wholly owned subsidiary of Syndicore Asia Limited. |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details) - Schedule of depreciation rates | 3 Months Ended |
Mar. 31, 2022 | |
Furniture and fixtures [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Depreciation of plant and equipment | 20% |
Furniture and fixtures [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Depreciation of plant and equipment | 50% |
Office equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Depreciation of plant and equipment | 20% |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Details) - Schedule of supplemental balance sheet information related to the operating lease | Mar. 31, 2022 USD ($) |
Schedule of supplemental balance sheet information related to the operating lease [Abstract] | |
Right-of-use assets | $ 169,761 |
Lease payment liability-current | 126,534 |
Lease payment liability-non current | 65,663 |
Total lease payment liability | $ 192,197 |
Remaining lease term (years) | 3 years |
Discount rate | 4.50% |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Details) - Schedule of maturities of lease liabilities | Mar. 31, 2022 USD ($) |
Schedule of maturities of lease liabilities [Abstract] | |
2022 remaining | $ 99,250 |
2023 | 80,164 |
2024 and thereafter | 20,501 |
Total lease payments | 199,915 |
Less: imputed interest | 7,718 |
Present value of lease liabilities | $ 192,197 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies (Details) - Schedule of foreign exchange rates | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2022 $ / shares | Mar. 31, 2022 ¥ / shares | Mar. 31, 2022 $ / shares | Dec. 31, 2021 $ / shares | Dec. 31, 2021 ¥ / shares | Dec. 31, 2021 $ / shares | |
Schedule of foreign exchange rates [Abstract] | ||||||
Chinese Renminbi (RMB) | (per share) | $ 1 | ¥ 6.345363 | $ 1 | ¥ 6.44995 | ||
United States dollar ($) | (per share) | 1 | 6.345363 | 1 | 6.44995 | ||
Chinese Renminbi (RMB) | (per share) | 1 | 6.341753 | 1 | 6.35877 | ||
United States dollar ($) | (per share) | 1 | ¥ 6.341753 | 1 | ¥ 6.35877 | ||
Hong Kong dollar (HKD) | (per share) | 1 | $ 7.804598 | 1 | $ 7.772253 | ||
United States dollar ($) | (per share) | 1 | 7.804598 | 1 | 7.772253 | ||
Hong Kong dollar (HKD) | (per share) | 1 | 7.830325 | 1 | 7.797129 | ||
United States dollar ($) | (per share) | $ 1 | $ 7.830325 | $ 1 | $ 7.797129 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies (Details) - Schedule of basic and diluted (loss) earnings per share - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Numerator | ||
Net income (loss) | $ (411,663) | $ 115,136 |
Denominator | ||
Weighted average common shares-basic and diluted | 20,277,448 | 20,277,448 |
Earnings (loss) per common share-basic and diluted | $ (0.02) | $ 0.01 |
Income Taxes (Details)
Income Taxes (Details) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Hong kong profits tax rate | 16.50% | 16.50% |
PRC income tax rate | 25% | 25% |
Short Term Loan (Details)
Short Term Loan (Details) - CNY (¥) ¥ in Millions | 3 Months Ended | 6 Months Ended | |
Mar. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Short Term Loan (Details) [Line Items] | |||
Amount borrowed | ¥ 10 | ||
Annual interest | 10% | ||
Remains outstanding | ¥ 5 | ||
Forecast [Member] | |||
Short Term Loan (Details) [Line Items] | |||
Repaid amount | ¥ 5 |
Amount Due from_to Related Pa_3
Amount Due from/to Related Parties (Details) | 3 Months Ended |
Mar. 31, 2022 USD ($) | |
Amount Due from/to Related Parties (Details) [Line Items] | |
Percentage of securities | 10% |
Amount due from related parties (in Dollars) | $ 434,744 |
Advance from shareholders and related parties (in Dollars) | $ 1,345,958 |
Hunan Zhong Zong Hong Fu Culture Industry Company Limited [Member] | |
Amount Due from/to Related Parties (Details) [Line Items] | |
Related party transaction, description | The Company lent RMB 600,000 (approximately $88,203) to Hong Fu when Hong Fu needed funds to improve its recruitment and training of online live promoters/influencers. This loan had a term of July 1, 2019 to June 30, 2021, free of interest and was repaid in full on January 20, 2021. |
Hunan Zhong Zong Lianlian Information Technology Limited Company [Member] | |
Amount Due from/to Related Parties (Details) [Line Items] | |
Related party transaction, description | The Company lent RMB 4,500,000 (approximately $ 689,675) to Lianlian when Lianlian needed additional funds to cover operating costs and office renovation costs. |
Hunan Zhong Zong Hong Fu Culture Industry Company Limited [Member] | |
Amount Due from/to Related Parties (Details) [Line Items] | |
Equity interests, percentage | 100% |
Hunan Zhong Zong Lianlian Information Technology Limited Company [Member] | |
Amount Due from/to Related Parties (Details) [Line Items] | |
Equity interests, percentage | 100% |
Amount Due from_to Related Pa_4
Amount Due from/to Related Parties (Details) - Schedule of amounts due from related parties - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | |
Related Party Transaction [Line Items] | |||
Amount due from related parties | $ 434,744 | $ 414,395 | |
Amount due to related parties | 1,345,958 | 1,348,101 | |
Hunan Zhong Zong Hong Fu Culture Industry Company Limited [Member] | |||
Related Party Transaction [Line Items] | |||
Amount due from related parties | [1],[2] | 19,049 | |
Hunan Zhong Zong Lianlian Information Technology Limited Company [Member] | |||
Related Party Transaction [Line Items] | |||
Amount due to related parties | [3] | 415,507 | 395,346 |
Changsha Gengtong Property Management Co., Ltd. [Member] | |||
Related Party Transaction [Line Items] | |||
Amount due from related parties | [2] | ||
Various other shareholders and directors [Member] | |||
Related Party Transaction [Line Items] | |||
Amount due from related parties | 19,237 | ||
Amount due to related parties | 40,484 | 40,656 | |
Wei Zhu [Member] | |||
Related Party Transaction [Line Items] | |||
Amount due to related parties | [4] | 231,280 | 232,265 |
Shen Tian [Member] | |||
Related Party Transaction [Line Items] | |||
Amount due to related parties | [5] | 627,339 | 626,438 |
Harry Cheung [Member] | |||
Related Party Transaction [Line Items] | |||
Amount due to related parties | $ 446,855 | $ 448,742 | |
[1] Hunan Zhong Zong Hong Fu Culture Industry Company Limited (“Hong Fu”): 100% of the equity interests of Hong Fu are owned by Wei Liang and Wei Zhu, the two majority shareholders of the Company. Hong Fu provides services to the cultural and entertainment industries and related marketing services to other industries. Hong Fu has been servicing the Company by making available more than a dozen of online live promoters/influencers trained by Hong Fu to HSAL on a continuous basis in the Bibishengjia Under common control. Bibishengjia Bibishengjia Major shareholder of the Company. Ezekiel’s general manager. |
Segment Information (Details)
Segment Information (Details) | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting [Abstract] | |
Reportable segments | 2 |
Segment Information (Details) -
Segment Information (Details) - Schedule of reported segment profit or loss and segment assets - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Segment Reporting Information [Line Items] | ||
Revenue | $ 405,583 | $ 380,376 |
Cost of revenues | (99,529) | (9,243) |
Gross profit (loss) | 306,053 | 371,133 |
Selling and marketing | ||
General and administrative | 694,109 | 245,436 |
Operating income (loss) | (388,055) | 125,697 |
E-Commerce [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 405,583 | 380,376 |
Cost of revenues | (99,074) | (9,243) |
Gross profit (loss) | 306,509 | 371,133 |
Selling and marketing | ||
General and administrative | 430,774 | |
Operating income (loss) | (124,265) | $ 125,697 |
All Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | ||
Cost of revenues | ||
Gross profit (loss) | ||
Selling and marketing | ||
General and administrative | 9,274 | |
Operating income (loss) | (9,274) | |
Trading [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | ||
Cost of revenues | (455) | |
Gross profit (loss) | (455) | |
Selling and marketing | ||
General and administrative | 250,167 | |
Operating income (loss) | $ (250,622) |
Segment Information (Details)_2
Segment Information (Details) - Schedule of reportable segment revenues, profit or loss, and asset - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Segment Information (Details) - Schedule of reportable segment revenues, profit or loss, and asset [Line Items] | ||
Total consolidated revenues | $ 405,583 | $ 380,376 |
Profit or Loss | ||
Total consolidated net loss | (411,663) | |
Assets | ||
Total consolidated assets | 3,878,541 | |
Total Assets from Reportable Segments [Member] | ||
Assets | ||
Total consolidated assets | 3,878,160 | |
Other Unallocated Assets – Holding Company [Member] | ||
Assets | ||
Total consolidated assets | 381 | |
Total Revenues from Reportable Segments [Member] | ||
Segment Information (Details) - Schedule of reportable segment revenues, profit or loss, and asset [Line Items] | ||
Total consolidated revenues | 405,583 | |
Elimination of Inter Segments Revenues [Member] | ||
Segment Information (Details) - Schedule of reportable segment revenues, profit or loss, and asset [Line Items] | ||
Total consolidated revenues | ||
Total Income (Loss) from Reportable Segments [Member] | ||
Profit or Loss | ||
Total consolidated net loss | (388,055) | |
Elimination of inter segments profit or loss [Member] | ||
Profit or Loss | ||
Total consolidated net loss | ||
Other Corporation Expense [Member] | ||
Profit or Loss | ||
Total consolidated net loss | $ (23,608) |
Concentration and Risk (Details
Concentration and Risk (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2022 | |
Major Customer [Member] | ||
Concentration and Risk (Details) [Line Items] | ||
Concentration risk, percentage | 10% | |
Major Vendor [Member] | ||
Concentration and Risk (Details) [Line Items] | ||
Concentration risk, percentage | 10% | |
Mainland China [Member] | ||
Concentration and Risk (Details) [Line Items] | ||
Bank accounts | $ 1,605,387.79 | |
Hong Kong [Member] | ||
Concentration and Risk (Details) [Line Items] | ||
Bank accounts | $ 7,326.61 |