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GRNQ Greenpro Capital

Document and Entity Information

Document and Entity Information - shares9 Months Ended
Sep. 30, 2020Nov. 16, 2020
Cover [Abstract]
Entity Registrant NameGreenpro Capital Corp.
Entity Central Index Key0001597846
Document Type10-Q
Document Period End DateSep. 30,
2020
Amendment Flagfalse
Current Fiscal Year End Date--12-31
Entity Reporting Status CurrentYes
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Business Flagtrue
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding59,203,333
Document Fiscal Period FocusQ3
Document Fiscal Year Focus2020

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)Sep. 30, 2020Dec. 31, 2019
Current assets
Cash and cash equivalents (including $166,795 and $163,813 of restricted cash as of September 30, 2020 and December 31, 2019, respectively) $ 559,743 $ 1,256,739
Accounts receivable, net of allowance of $10,217 and $46,624 as of September 30, 2020 and December 31, 2019, respectively (including due from related parties of $7,223 and $0 as of September 30, 2020 and December 31, 2019, respectively)59,854 221,529
Prepaids and other current assets294,818 184,533
Due from related parties62,391 61,623
Deferred costs of revenue53,107 73,821
Total current assets1,029,913 1,798,245
Property and equipment, net2,803,051 2,831,109
Real Estate investments:
Real estate held for sale2,219,303 2,396,238
Real estate held for investment, net759,415 796,059
Intangible assets, net19,676 91,012
Goodwill319,726 319,726
Other investments (including investments in related parties of $4,054,263 and $53,363 as of September 30, 2020 and December 31, 2019, respectively)4,147,435 145,140
Operating lease right-of-use assets, net148,296 506,924
TOTAL ASSETS11,446,815 8,884,453
Current liabilities:
Accounts payable and accrued liabilities690,904 757,813
Current portion of loans secured by real estate494,548 531,488
Due to related parties1,255,291 1,009,760
Operating lease liabilities, current portion151,521 318,914
Income tax payable6,953 27,598
Deferred revenue (including $215,000 and $140,000 from related parties as of September 30, 2020 and December 31, 2019 respectively)1,238,240 1,202,153
Derivative liabilities56,694 28,545
Total current liabilities3,894,151 3,876,271
Long term portion of loans secured by real estate1,361,224 1,461,563
Operating lease liabilities, net of current portion 192,778
Total liabilities5,255,375 5,530,612
Commitments and contingencies
Stockholders' Equity:
Preferred stock, $0.0001 par value; 100,000,000 shares authorized; no shares issued and outstanding
Common stock, $0.0001 par value; 500,000,000 shares authorized; 59,203,333 and 54,723,889 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively5,920 5,473
Additional paid in capital20,452,034 16,417,481
Accumulated other comprehensive loss(64,537)(95,169)
Accumulated deficit(14,424,532)(13,160,629)
Total Greenpro Capital Corp. common stockholders' equity5,968,885 3,167,156
Noncontrolling interests in consolidated subsidiaries222,555 186,685
Total stockholders' equity6,191,440 3,353,841
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 11,446,815 $ 8,884,453

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)Sep. 30, 2020Dec. 31, 2019
Statement of Financial Position [Abstract]
Restricted cash $ 166,795 $ 163,813
Allowance for doubtful accounts receivable10,217 46,624
Due to related parties, accounts receivable7,223 0
Investments in related party4,054,263 53,363
Due from related parties, deferred revenue $ 215,000 $ 140,000
Preferred stock, par value $ 0.0001 $ 0.0001
Preferred stock, shares authorized100,000,000 100,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value $ 0.0001 $ 0.0001
Common stock, shares authorized500,000,000 500,000,000
Common stock, shares issued59,203,333 54,723,889
Common stock, shares outstanding59,203,333 54,723,889

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
REVENUES:
Total revenue $ 678,917 $ 1,152,326 $ 1,896,598 $ 3,316,088
COST OF REVENUES:
Total cost of revenues(276,802)(364,050)(503,487)(1,165,992)
GROSS PROFIT402,315 788,276 1,393,111 2,150,096
OPERATING EXPENSES:
General and administrative (including $5,274 and $48,564 of general and administrative expense to related parties for the three months ended September 30, 2020 and 2019, respectively, and $8,320 and $155,138 of general and administrative expense to related parties for the nine months ended September 30, 2020 and 2019, respectively)(870,537)(1,001,335)(2,633,729)(3,187,677)
Total operating expenses(870,537)(1,001,335)(2,633,729)(3,187,677)
LOSS FROM OPERATIONS(468,422)(213,059)(1,240,618)(1,037,581)
OTHER INCOME (EXPENSE)
Change in fair value of derivative liabilities11,804 8,221 (28,149)192,785
Other income (including $0 of other income from a related party for the three months ended September 30, 2020 and 2019, and $0 and $1,610 of other income from a related party for the nine months ended September 30, 2020 and 2019, respectively)62,835 18,027 131,486 91,002
Interest income (including $0 of interest income from a related party for the three months ended September 30, 2020 and 2019, and $0 and $8,188 of interest income from a related party for the nine months ended September 30, 2020 and 2019, respectively)152 471
Interest expense(36,118)(23,759)(98,669)(76,162)
Total other income38,673 2,489 5,139 207,625
LOSS BEFORE INCOME TAX(429,749)(210,570)(1,235,479)(829,956)
Income tax expense (577) (8,308)
NET LOSS(429,749)(211,147)(1,235,479)(838,264)
Net (income) loss attributable to noncontrolling interest(24,162)23,295 (28,424)63,122
NET LOSS ATTRIBUTED TO COMMON SHAREHOLDERS OF GREENPRO CAPITAL CORP.(453,911)(187,852)(1,263,903)(775,142)
Other comprehensive income:
- Foreign currency translation income66,616 30,632 3,254
COMPREHENSIVE LOSS $ (387,295) $ (187,852) $ (1,233,271) $ (771,888)
NET LOSS PER SHARE, BASIC AND DILUTED $ (0.01) $ 0 $ (0.02) $ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON STOCK OUTSTANDING, BASIC AND DILUTED59,174,800 54,723,889 56,036,990 54,721,674
Service Revenue [Member]
REVENUES:
Total revenue $ 389,610 $ 1,132,784 $ 1,551,783 $ 3,244,626
COST OF REVENUES:
Total cost of revenues(52,243)(352,813)(252,687)(1,131,003)
Real Estate [Member]
REVENUES:
Total revenue253,677 253,677
COST OF REVENUES:
Total cost of revenues(210,573) (210,573)
Rental Revenue [Member]
REVENUES:
Total revenue35,630 19,542 91,138 71,462
COST OF REVENUES:
Total cost of revenues $ (13,986) $ (11,237) $ (40,227) $ (34,989)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (Parenthetical) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
General and administrative expense, related parties $ 5,274 $ 48,564 $ 8,320 $ 155,138
Other income related party0 0 0 1,610
Interest income related party0 0 0 8,188
Service Revenue [Member]
Revenue from related parties73,446 430,069 181,417 1,743,533
Cost of service, related parties $ 324 $ 0 $ 2,514 $ 184,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)Common Stock [Member]Additional Paid-in Capital [Member]Accumulated Other Comprehensive Loss [Member]Accumulated Deficit [Member]Non-Controlling Interest [Member]Total
Balance beginning at Dec. 31, 2018 $ 5,472 $ 16,376,192 $ (66,277) $ (11,816,080) $ 230,123 $ 4,729,430
Balance beginning, shares at Dec. 31, 201854,715,287
Fair value of shares issued for acquisition $ 1 41,289 41,290
Fair value of shares issued for acquisition, shares8,602
Disposal of non-controlling interests (38,509)(38,509)
Foreign currency translation (56,508) (56,508)
Net (loss) income (775,142)(63,122)(838,264)
Balance ending at Sep. 30, 2019 $ 5,473 16,417,481 (122,785)(12,591,222)128,492 3,837,439
Balance ending, shares at Sep. 30, 201954,723,889
Balance beginning at Jun. 30, 2019 $ 5,473 16,417,481 (63,023)(12,403,370)151,787 4,108,348
Balance beginning, shares at Jun. 30, 201954,723,889
Foreign currency translation (59,762) (59,762)
Net (loss) income (187,852)(23,295)(211,147)
Balance ending at Sep. 30, 2019 $ 5,473 16,417,481 (122,785)(12,591,222)128,492 3,837,439
Balance ending, shares at Sep. 30, 201954,723,889
Balance beginning at Dec. 31, 2019 $ 5,473 16,417,481 (95,169)(13,160,629)186,685 3,353,841
Balance beginning, shares at Dec. 31, 201954,723,889
Fair value of shares issued for marketing expense $ 3 34,997 35,000
Fair value of shares issued for marketing expense, shares35,000
Fair value of shares issued for other investment $ 444 3,999,556 4,000,000
Fair value of shares issued for other investment, shares4,444,444
Derecognition of non-controlling interest due to deconsolidation 7,446 7,446
Foreign currency translation 30,632 30,632
Net (loss) income (1,263,903)28,424 (1,235,479)
Balance ending at Sep. 30, 2020 $ 5,920 20,452,034 (64,537)(14,424,532)222,555 6,191,440
Balance ending, shares at Sep. 30, 202059,203,333
Balance beginning at Jun. 30, 2020 $ 5,917 20,526,390 (131,153)(13,970,621)89,040 6,519,573
Balance beginning, shares at Jun. 30, 202059,168,333
Fair value of shares issued for marketing expense $ 3 34,997 35,000
Fair value of shares issued for marketing expense, shares35,000
Changes in ownership interests in subsidiaries (109,353) 109,353
Foreign currency translation 66,616 66,616
Net (loss) income (453,911)24,162 (429,749)
Balance ending at Sep. 30, 2020 $ 5,920 $ 20,452,034 $ (64,537) $ (14,424,532) $ 222,555 $ 6,191,440
Balance ending, shares at Sep. 30, 202059,203,333

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)9 Months Ended
Sep. 30, 2020Sep. 30, 2019
Cash flows from operating activities:
Net loss $ (1,235,479) $ (838,264)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization193,510 184,227
Amortization of right-of-use assets199,878 96,362
Provision for bad debts40,710 (27,324)
Fair value of shares issued for marketing expense35,000
Gain on disposal of other investment(875)
Loss on disposal of property and equipment115
Loss on disposal of a subsidiary125
Loss (gain) on deconsolidation of controlled subsidiaries727 (35,986)
Gain on sale of real estate held for sale(43,104)
Change in fair value of derivative liabilities28,149 (192,785)
Increase in cash surrender value on life insurance(1,395)(20,553)
Changes in operating assets and liabilities:
Accounts receivable, net161,675 60,767
Prepaids and other current assets8,013 89,184
Deferred costs of revenue20,714 337,540
Accounts payable and accrued liabilities(66,909)(184,362)
Operating lease liabilities(201,421)(96,362)
Income tax payable(20,645)
Deferred revenue36,087 (613,660)
Net cash used in operating activities(845,125)(1,241,216)
Cash flows from investing activities:
Purchase of property and equipment(2,106)(1,035)
Purchase of real estate held for investment (1,890)
Proceeds from sale of property and equipment97
Proceeds from real estate held for sale113,845
Proceeds from sales of other investments2,629
Purchase of other investment(900)
Net decrease in cash due to deconsolidation of subsidiaries(25,015)
Acquisition of business, net of cash acquired (60,187)
Net cash provided by (used in) investing activities88,550 (63,112)
Cash flows from financing activities:
Principal payments of loans secured by real estate(156,591)(106,857)
Advances from related parties240,509 108,601
Net cash provided by financing activities83,918 1,744
Effect of exchange rate changes in cash and cash equivalents(24,339)(11,572)
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH(696,996)(1,314,156)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD1,256,739 2,172,048
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD559,743 857,892
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income tax24,642 8,868
Cash paid for interest92,265 76,162
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Noncash assets derecognized on deconsolidation of controlled subsidiaries142,130
Noncash liabilities derecognized on deconsolidation of controlled subsidiaries173,680
Right-of-use assets and operating lease liabilities removed for terminated operating leases159,160
Initial recognition of operating lease right-of-use assets and operating lease obligations upon adoption of ASC Topic 842 582,647
Fair value of shares issued for acquisition of business 41,290
Fair value of shares issued for other investment $ 4,000,000

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting PoliciesNOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES Greenpro Capital Corp. (the “Company”
or “GRNQ”) was incorporated on July 19, 2013 in the state of Nevada. The Company currently provides a wide range of
business consulting and corporate advisory services, including cross-border listing advisory services, tax planning, advisory and
transaction services, record management services, and accounting outsourcing services. Our focus is on companies located in Asia
and Southeast Asia, including Hong Kong, Malaysia, China, Thailand, and Singapore. As part of our business consulting and corporate
advisory business segment, Greenpro Venture Capital Limited provides a business incubator for start-up companies and focuses on
investments in select start-up and high growth potential companies. In addition to our business consulting and corporate advisory
business segment, we operate another business segment that focuses on the acquisition and rental of real estate properties held
for investment and the acquisition and sale of real estate properties held for sale. Basis of presentation and principles of
consolidation The accompanying unaudited condensed consolidated
financial statements as of and for the nine months ended September 30, 2020 and 2019, have been prepared pursuant to the rules
and regulations of the Securities and Exchange Commission (the “SEC”) that permit reduced disclosure for interim periods.
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles
generally accepted in the United States of America (“US GAAP”) have been condensed or omitted. In the opinion of management,
all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating
results for the period ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year
ending December 31, 2020. The Condensed Consolidated Balance Sheet information as of December 31, 2019 was derived from the Company’s
audited Consolidated Financial Statements as of and for the year ended December 31, 2019 included in the Company’s Annual
Report on Form 10-K filed with the SEC on March 30, 2020. These financial statements should be read in conjunction with that report. The accompanying unaudited condensed consolidated
financial statements include the accounts of the Company and its wholly owned subsidiaries and majority-owned subsidiaries which
the Company controls and entities for which the Company is the primary beneficiary. For those consolidated subsidiaries where the
Company’s ownership is less than 100%, the outside shareholders’ interests are shown as noncontrolling interests in
equity. Acquired businesses are included in the consolidated financial statements from the date on which control is transferred
to the Company. Subsidiaries are deconsolidated from the date that control ceases. All inter-company accounts and transactions
have been eliminated in consolidation. Going Concern The accompanying financial statements have
been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments
in the normal course of business. During the nine months ended September 30, 2020, the Company incurred a net loss of $1,235,479
and used cash in operations of $845,125 and at September 30, 2020, the Company had a working capital deficiency of $2,864,238.
These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date
that the financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its
report on the Company’s December 31, 2019 financial statements, has expressed substantial doubt about the Company’s
ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the
Company is unable to continue as a going concern. The Company’s ability to continue as
a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management
believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations
as they become due. Despite the amount of funds that we have raised in the past, no assurance can be given that any future financing,
if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company
is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing,
or cause substantial dilution for its stockholders, in the case of equity financing. COVID-19 outbreak In March 2020, the World Health Organization
declared coronavirus COVID-19 a global pandemic. The COVID-19 pandemic has negatively impacted
the global economy, and created significant volatility and
disruption of financial markets Use of estimates The preparation of financial statements in
conformity with US GAAP requires management to make estimates and assumptions relating to the reporting of assets and liabilities
and the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and
expenses during the reporting period. Significant accounting estimates include certain assumptions related to, among others, the
allowance for doubtful accounts receivable, impairment analysis of real estate assets and other long-term assets including goodwill,
valuation allowance on deferred income taxes, the assumptions used in the valuation of the derivative liability, and the accrual
of potential liabilities. Actual results may differ from these estimates. Cash, cash equivalents, and restricted cash Cash consists of funds on hand and held in
bank accounts. Cash equivalents includes demand deposits placed with banks or other financial institutions and all highly liquid
investments with original maturities of three months or less, including money market funds. Restricted cash represents cash restricted
for the loan collateral requirements as defined in a loan agreement and also the minimum paid-up share capital requirement for
insurance brokers specified under the Insurance Ordinance of Hong Kong. At September 30, 2020 and December 31, 2019,
cash included funds held by employees of $20,967 and $33,096, respectively, and was held to facilitate payment of expenses in local
currencies and to facilitate third-party online payment platforms in which the Company had not set up corporate accounts (WeChat
Pay and Alipay).
As of As of
(Unaudited)
Cash, cash equivalents, and restricted cash
Denominated in United States Dollars $ 65,994 $ 337,960
Denominated in Hong Kong Dollars 216,311 393,062
Denominated in Chinese Renminbi 217,162 494,870
Denominated in Malaysian Ringgit 60,276 30,847
Cash, cash equivalents, and restricted cash $ 559,743 $ 1,256,739 Revenue recognition The Company follows the guidance of Accounting
Standards Codification (ASC) 606, Revenue from Contracts Investments Investments in equity securities The Company accounts for its investments that
represent less than 20% ownership, and for which the Company does not have the ability to exercise significant influence, at their
fair value at the end of each reporting period, unless there is no readily determinable fair value. Equity investments without
readily determinable fair values are accounted for at cost and assessed for impairment at each reporting period. At September 30,
2020 and December 31, 2019, the Company had four and two investments in equity securities of related parties valued at $4,054,263
and $53,363, respectively. Investments under the equity method The Company applies the equity method to investments
in common stock when we possess the ability to exercise significant influence, but not control, over the operating and financial
policies of the investee. The ability to exercise significant influence is generally presumed when the investor possesses 20% or
more of the voting interests of the investee. In applying the equity method, we record the investment at cost and subsequently
increase or decrease the carrying amount of the investment by our proportionate share of the net earnings or losses and other comprehensive
income of the investee. We generally stop applying the equity method when our share of the investee’s net losses has reduced
our investment to zero unless we have additional investments in the investee at risk or have committed financial support to the
investee. At September 30, 2020 and December 31, 2019, the Company had one investment accounted for under the equity method that
was valued at zero. Derivative Financial Instruments The Company evaluates its financial instruments
to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial
instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then
re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of
derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the
end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based
on whether net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. At each
reporting date, the Company reviews its convertible securities to determine whether their classification is appropriate. Income (loss) per share Basic income (loss) per share is computed by
dividing the net income (loss) available to common stockholders by the weighted average number of common shares outstanding during
the period. Diluted net loss per share is calculated by dividing the net loss by the weighted average number of common shares outstanding
during the period plus any potentially dilutive shares related to the issuance of shares from stock warrants. For the three and
nine months ended September 30, 2020 and 2019, the only outstanding common stock equivalents were warrants for 53,556 potentially
dilutive shares outstanding. These warrants have been excluded from the calculation of weighted average shares as the effect would
have been anti-dilutive and therefore, basic and diluted net loss per share were the same. Foreign currency translation The reporting currency of the Company is the
United States Dollars (“US$”) and the accompanying condensed consolidated financial statements have been expressed
in US$. In addition, the Company’s operating subsidiaries maintain their books and records in their respective functional
currency, which consists of the Malaysian Ringgit (“MYR”), Chinese Renminbi (“RMB”), Hong Kong Dollars
(“HK$”) and Australian Dollars (“AU$”). In general, for consolidation purposes, assets
and liabilities of the Company’s subsidiaries whose functional currency is not the US$, are translated into US$ using the
exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The
gains and losses resulting from translation of financial statements of a foreign subsidiary are recorded as a separate component
of accumulated other comprehensive loss within stockholders’ equity. Translation of amounts from the local currencies
of the Company into US$ has been made at the following exchange rates for the respective periods:
As of and for the nine months ended
2020 2019
Period-end MYR : US$1 exchange rate 4.16 4.19
Period-average MYR : US$1 exchange rate 4.24 4.14
Period-end RMB : US$1 exchange rate 6.79 7.13
Period-average RMB : US$1 exchange rate 7.00 6.87
Period-end HK$ : US$1 exchange rate 7.75 7.84
Period-average HK$ : US$1 exchange rate 7.76 7.81
Period-end AU$ : US$1 exchange rate 1.40 1.48
Period-average AU$ : US$1 exchange rate 1.48 1.42 Fair value of financial instruments The Company follows the guidance of ASC 820-10,
“ Fair Value Measurements and Disclosures
● Level 1
● Level 2
● Level 3 The Company believes the carrying amount reported
in the balance sheet for cash and cash equivalents, accounts receivable, prepaids and other current assets, accounts payable and
accrued liabilities, income tax payable, deferred costs of revenue, deferred revenue, and due to related parties, approximate their
fair values because of the short-term nature of these financial instruments. As of September 30, 2020, the Company’s
balance sheet includes Level 2 liabilities comprised of the fair value of embedded derivative liabilities of $56,694 (see Note
5). The fair value of the derivative liabilities is based on significant inputs not observable in the market, which represents
a Level 2 measurement within the fair value hierarchy. The following table sets forth a summary of the changes in the estimated
fair value of our embedded derivative during the nine-month period ended September 30, 2020:
Embedded derivative
Balance as of December 31, 2019 $ 28,545
Net change in the fair value 28,149
Balance as of September 30, 2020 $ 56,694 Concentrations of risks For the three months ended September 30, 2020,
one customer accounted for 37% of revenues. For the nine months ended September 30, 2020, two customers accounted for 31% (18%
and 13%) of revenues. For the three and nine months ended September 30, 2019, three customers accounted for 39% (21%, 9%, and 9%)
and 59% (26%, 18%, and 15%) of revenue, respectively. For the three and nine months ended September 30, 2020, three customers accounted
for 38% (16%, 11% and 11%) of accounts receivable at period-end. For the three and nine months ended September 30, 2019, no customer
accounted for 10% or more of accounts receivable at period-end. For the three and nine months ended September
30, 2020 and 2019, no vendor accounted for 10% or more of the Company’s cost of revenues. For the three and nine months ended
September 30, 2020, two vendors accounted for 59% (24%, 19% and 16%) of accounts payable at period-end. For the three and nine
months ended September 30, 2019, no vendor accounted for 10% or more of accounts payable at period-end. Economic and political risks Substantially all the Company’s services
are conducted in the Asian region, primarily in Hong Kong, Malaysia, and the People’s Republic of China (“PRC”).
Among other risks, the Company’s operations in Malaysia are subject to the risks of restrictions on transfer of funds; export
duties, quotas, and embargoes; domestic and international customs and tariffs; changing taxation policies; foreign exchange restrictions;
and political conditions and governmental regulations in Malaysia. The Company’s operations in the PRC are
subject to special considerations and significant risks not typically associated with companies in North America and Western Europe.
These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange.
The Company’s results may be adversely affected by changes in the political conditions in the PRC, and by changes in governmental
policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and
methods of taxation. Recent accounting pronouncements The FASB issued ASU 2016-13, Measurement
of Credit Losses on Financial Instruments Other recent accounting pronouncements issued
by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities
and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future
financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with CustomersNOTE 2 - REVENUE FROM CONTRACTS WITH CUSTOMERS The Company’s revenue consists of revenue
from providing business consulting and corporate advisory services (“service revenue”), revenue from the sale of real
estate properties, and revenue from the rental of real estate properties. Revenue from services For certain of our service contracts providing
assistance to clients in capital market listings (“Listing services”), our services provided are considered to be one
performance obligation. Revenue and expenses are deferred until the performance obligation is complete and collectability of the
consideration is probable. For service contracts where the performance obligation is not completed, deferred costs of revenue are
recorded as incurred and deferred revenue is recorded for any payments received on such yet to be completed performance obligations.
On an ongoing basis, management monitors these contracts for profitability and when needed may record a liability if a determination
is made that costs will exceed revenue. For other services such as company secretarial,
accounting, financial analysis and related services (“Non-Listing services”), the Company’s performance obligations
are satisfied, and the related revenue is recognized, as services are rendered. For contracts in which we act as an agent, the
Company reports revenue net of expenses paid. The Company offers no discounts, rebates, rights
of return, or other allowances to clients which would result in the establishment of reserves against service revenue. Additionally,
to date, the Company has not incurred incremental costs in obtaining a client contract. The adoption of ASC 606 had no impact on
the Company’s consolidated financial statements. Revenue from the sale of real estate properties The Company follows the guidance of ASC 610-20,
Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets Revenue from the rental of real estate properties Rental revenue represents lease rental income
from the Company’s tenants. The tenants pay monthly in accordance with lease agreements and the Company recognizes the income
ratably over the lease term as this is the most representative of the pattern in which the benefit is expected to be derived from
the underlying asset. Cost of revenues Cost of service revenue primarily consists
of employee compensation and related payroll benefits, company formation costs, and other professional fees directly attributable
to the services rendered. Cost of real estate properties sold primarily
consists of the purchase price of property, legal fees, improvement costs to the building structure, and other acquisition costs.
Selling and advertising costs are expensed as incurred. Cost of rental revenue primarily includes costs
associated with repairs and maintenance, property insurance, depreciation and other related administrative costs. Property management
fees and utility expenses are paid directly by tenants. The following table provides information about
disaggregated revenue based on revenue by service lines and revenue by geographic area:
Three Months Ended
2020 2019
(Unaudited) (Unaudited)
Revenue by service lines:
Corporate advisory – Non-listing services $ 389,509 $ 622,798
Corporate advisory – Listing services 101 509,986
Rental of real estate properties 35,630 19,542
Sale of real estate properties 253,677 -
Total revenue $ 678,917 $ 1,152,326
Three Months Ended
2020 2019
(Unaudited) (Unaudited)
Revenue by geographic area:
Hong Kong $ 506,699 $ 629,573
Malaysia 133,107 148,603
China 39,111 374,150
Total revenue $ 678,917 $ 1,152,326
Nine Months Ended
2020 2019
(Unaudited) (Unaudited)
Revenue by service lines:
Corporate advisory – Non-Listing services $ 1,196,297 $ 1,534,640
Corporate advisory – Listing services 355,486 1,709,986
Rental of real estate properties 91,138 71,462
Sale of real estate properties 253,677 -
Total revenue $ 1,896,598 $ 3,316,088
Nine Months Ended
2020 2019
(Unaudited) (Unaudited)
Revenue by geographic area:
Hong Kong $ 1,418,172 $ 2,470,476
Malaysia 364,361 392,602
China 114,065 453,010
Total revenue $ 1,896,598 $ 3,316,088 Our contract balances include deferred costs
of revenue and deferred revenue. Deferred Revenue For service contracts where the performance
obligation is not completed, deferred revenue is recorded for any payments received in advance of the performance obligation. Changes
in deferred revenue were as follows:
Nine Months
(Unaudited)
Deferred revenue, January 1, 2020 $ 1,202,153
New contract liabilities 391,573
Performance obligations satisfied (355,486 )
Deferred revenue, September 30, 2020 $ 1,238,240 Deferred Costs of Revenue For service contracts where the performance
obligation is not completed, deferred costs of revenue are recorded for any costs incurred in advance of the performance obligation. Deferred revenue and deferred costs of revenue
at September 30, 2020 and December 31, 2019 are classified as current assets or current liabilities and totaled:
As of As of
(Unaudited)
Deferred revenue $ 1,238,240 $ 1,202,153
Deferred costs of revenue $ 53,107 $ 73,821

Other Investments

Other Investments9 Months Ended
Sep. 30, 2020
Investments, All Other Investments [Abstract]
Other InvestmentsNOTE 3 - OTHER INVESTMENTS On May 27, 2020, the Company entered into a
purchase and sale agreement (the “Agreement”) with Daniel McKinney (the “Seller”), the sole owner of a
12.3 kilogram carved natural blue sapphire (the “Millennium Sapphire”), pursuant to which the Company agreed to acquire
a 4% interest in the Millennium Sapphire from the Seller, and the Seller agreed to sell the 4% interest in the Millennium Sapphire
to the Company. As consideration thereto, on June 15, 2020, the Company issued an aggregate of 4,444,444 restricted shares of its
common stock, including 2,000,000 restricted shares of common stock to the Seller and 2,444,444 restricted shares to his designees.
The aggregate of 4,444,444 restricted shares of common stock issued by the Company, representing an aggregate purchase price of
$4,000,000 (approximately $0.90 per share) based on the 4% interest of an appraised value of the Millennium Sapphire of $100,000,000
by an independent appraiser, Mr. Pascal Butel, on March 9, 2020. The investment is recognized at historical cost of $4,000,000
under other investments. On June 29, 2020, the Company entered into
a purchase and sale agreement (the “Agreement”) with the Company’s subsidiary, Millennium Fine Art Inc. (“MFAI”),
pursuant to which the Company agreed to sell its 4% ownership interest in the Millennium Sapphire to MFAI and MFAI agreed to acquire
the 4% ownership of the Millennium Sapphire from the Company. As consideration thereto, on July 1, 2020, MFAI issued 2,000,000
restricted shares of its Class B common stock to the Company valued at $5,000,000 ($5 per share), in which 1,000,000 shares were
retained by the Company and the other 1,000,000 shares were reserved as a dividend to the shareholders of the Company. The Company
expects to distribute these 1,000,000 shares to its shareholders in 2021. A gain on disposal of $1,000,000 was recorded at the
Company level but was eliminated upon consolidation. On July 1, 2020, MFAI issued 19,200,000 restricted
shares of its Class A common stock to the Seller of the Millennium Sapphire valued at $96,000,000 ($5 per share) to acquire the
remaining 96% interest in the Millennium Sapphire. MFAI is an investment company and has a 100% interest in the Millennium Sapphire. As of September 30, 2020, the Company owns
2,000,000 shares of Class B common stock of MFAI, equal to approximately 1% of the issued and outstanding shares of MFAI, in which
1,000,000 shares were retained by the Company and recognized at historical cost of $4,000,000 under other investments, and the
other 1,000,000 shares were reserved as a dividend to the shareholders of the Company. The Company expects to distribute these
1,000,000 shares to its shareholders in 2021 and will evaluate such investment at year end to determine if impairment is necessary.

Operating Leases

Operating Leases9 Months Ended
Sep. 30, 2020
Leases [Abstract]
Operating LeasesNOTE 4 - OPERATING LEASES The Company has two separate operating lease
agreements for one office space in each of Malaysia and Hong Kong with remaining lease terms of 6 months and 7 months, respectively.
The Company does not have any other leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet.
The Company accounts for the lease and non-lease components of its leases as a single lease component. Lease expense is recognized
on a straight-line basis over the lease term. Operating lease right-of-use (“ROU”)
assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. ROU
assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make
lease payments arising from the lease. Generally, the implicit rate of interest in arrangements is not readily determinable and
the Company utilizes its incremental borrowing rate in determining the present value of lease payments. The Company’s incremental
borrowing rate is a hypothetical rate based on its understanding of what its credit rating would be. The operating lease ROU asset
includes any lease payments made and excludes lease incentives. The components of lease expense and supplemental
cash flow information related to leases for the period are as follows:
Nine Months September 30,
Lease Cost
Operating lease cost (included in general and administrative expenses in the Company’s unaudited condensed statement of operations) $ 245,682
Other Information
Cash paid for amounts included in the measurement of lease liabilities for the nine months ended September 30, 2020 $ 195,363
Weighted average remaining lease term – operating leases (in years) 0.58
Average discount rate – operating leases 4.0 % The supplemental balance sheet information
related to leases for the period is as follows:
At September 30,
Operating leases
Long-term right-of-use assets $ 148,296
Short-term operating lease liabilities $ 151,521
Long-term operating lease liabilities -
Total operating lease liabilities $ 151,521 Maturities of the Company’s lease liabilities
are as follows (in thousands):
Year Ending Operating
2020 (remaining 3 months) $ 65,806
2021 87,742
Total lease payments 153,548
Less: Imputed interest/present value discount (2,027 )
Present value of lease liabilities $ 151,521 Lease expenses were $73,652 and $245,682 during
the three and nine months ended September 30, 2020, respectively, and $99,394 and $298,637 during the three and nine months ended
September 30, 2019, respectively. During the nine months ended September 30,
2020, the Company terminated one lease and a second lease was deconsolidated when the Company sold its controlling interest in
a subsidiary (See Note 8). The total operating lease right-of-use assets and liabilities removed from the Company’s financial
statements were approximately $159,000.

Derivative Liabilities

Derivative Liabilities9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative LiabilitiesNOTE 5 - DERIVATIVE LIABILITIES At September 30, 2020,
the Company has outstanding warrants exercisable into 53,556 shares of the Company’s common stock. The exercise price of
warrants is denominated in US dollars, a currency other than the Company’s functional currencies, the HK$, RMB, and MYR.
As a result, the warrants are not considered indexed to the Company’s own stock, and the Company characterized the fair value
of the warrants as a derivative liability upon issuance. The derivative liability is re-measured at the end of every reporting
period with the change in value reported in the statement of operations. At December 31, 2019,
the balance of the derivative liabilities was $28,545. During the nine months ended September 30, 2020, the Company recorded an
increase in fair value of derivatives of $28,149. At September 30, 2020, the balance of the derivative liabilities was $56,694. The derivative liabilities were valued using
the Black-Scholes-Merton valuation model with the following assumptions:
As of As of
September 30, 2020 December 31, 2019
(Unaudited)
Risk-free interest rate $ 1.5 % $ 2.4 %
Expected volatility 182 % 173 %
Contractual life (in years) 2.7 years 3.4 years
Expected dividend yield 0.00 % 0.00 %
Fair Value of warrants $ 56,694 $ 28,545 The risk-free interest rate is based on the
yield available on U.S. Treasury securities. The Company estimates volatility based on the historical volatility of its common
stock. The contractual life of the warrants is based on the expiration date of the warrants. The expected dividend yield was based
on the fact that the Company has not paid dividends to common shareholders in the past and does not expect to pay dividends to
common shareholders in the future.

Warrants

Warrants9 Months Ended
Sep. 30, 2020
Warrants and Rights Note Disclosure [Abstract]
WarrantsNOTE 6 - WARRANTS In 2018, the Company issued warrants exercisable
into 53,556 shares of common stock. The warrants were fully vested when issued, have an exercise price of $7.20 per share, and
expire in 2023. A summary of warrant activity during the nine months ended September 30, 2020 is presented below:
Remaining
Number Contractual
of Exercise Life
Shares Price (in Years)
Warrants outstanding at December 31, 2019 53,556 $ 7.20
Granted — —
Exercised — —
Expired — —
Warrants outstanding at September 30, 2020 53,556 $ 7.20 2.7
Warrants exercisable at September 30, 2020 53,556 $ 7.20 2.7 At September 30, 2020, the intrinsic value
of outstanding warrants was zero.

Related Party Transactions

Related Party Transactions9 Months Ended
Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party TransactionsNOTE 7 - RELATED PARTY TRANSACTIONS
Due from related parties: September 30, 2020 December 31, 2019
(Unaudited)
Accounts receivable, net
Due from related party B (net of allowance of $380) $ 7,223 $ -
Due from related parties
Due from related party G 2,391 1,623
Due from related party H 60,000 60,000
Total $ 69,614 $ 61,623
Due to related parties: September 30, 2020 December 31, 2019
(Unaudited)
Due to related party A $ 2,920 $ 1,113
Due to related party B 30,107 35
Due to related party D - 25
Due to related party E - 2,167
Due to related party J 741,045 779,561
Due to related party K 481,219 226,859
Total $ 1,255,291 $ 1,009,760
For the nine months ended
Income from or expenses to related parties: 2020 2019
(Unaudited) (Unaudited)
Service revenue from related parties
- Related party A $ 43,229 $ 211,624
- Related party B 108,297 804,867
- Related party C 1,162 385
- Related party D 14,366 712,710
- Related party E 14,251 11,193
- Related party G 112 2,754
Total $ 181,417 $ 1,743,533
Cost of service revenue to related parties
- Related party B $ 2,514 $ -
- Related party D - 184,000
Total $ 2,514 $ 184,000
General and administrative expenses to related parties
- Related party A $ 4,234 $ -
- Related party B 2,900 -
- Related party D - 155,138
- Related party G 1,186 -
Total $ 8,320 $ 155,138
Other income from related parties
- Related party D $ - 1,610
- Related party E - 8,188
Total $ - $ 9,798 Related party A is under common control of
Mr. Loke Che Chan, Gilbert, the Company’s CFO and a major shareholder. Related party B represents companies where
the Company owns a percentage of the company (ranging from 4% to 13%). Related party C is controlled by a director
of a wholly owned subsidiary of the Company. Related party D represents a company that we
have determined that we can significantly influence based on our common business relationships. Related party E represents companies whose
CEO is a consultant to the Company, and who is also a director of Aquarius Protection Fund, a shareholder in the Company. On June
16, 2018, the Company made a loan of $300,000 pursuant to a loan agreement with related party E. The loan is unsecured, bears interest
at 6% per annum, and is due on June 15, 2020. The Managing Director of related party E is a consultant to the Company, and is also
a director of Aquarius Protection Fund, a shareholder in the Company. Related party E is also the investment manager of Aquarius
Protection Fund. During the year ended December 31, 2018, the loan of $300,000 was offset by payments of $222,912 made to the Company
from other companies controlled by the Managing Director of related party E. In December 2018, the Company completed an impairment
analysis and determined that the balance of the loan was impaired and recorded an impairment of $77,088. Related party F represents a family member
of Mr. Loke Che Chan, Gilbert, the Company’s CFO and a major shareholder. Related party G is under common control of
Mr. Lee Chong Kuang, the Company’s CEO and a major shareholder. Related party H represents a company in which
we have a 49% equity investment. At September 30, 2020 and December 31, 2019, amounts due from related party H were unsecured,
bear no interest, and were payable upon demand. During 2018, the Company acquired 49% of related party H for total consideration
of $368,265. At December 31, 2018, the Company determined that its investment in related party H was impaired and recorded an impairment
of other investment of $368,265. Related party I is controlled by a family member of Mr. Lee Chong
Kung, the Company’s CEO and a major shareholder. Related party J represents a noncontrolling
interest in the Company’s subsidiary that owns its real estate held for sale. The amount due to related party J is unsecured,
bear no interest, is payable on demand, and related to the initial acquisition of the real estate held for sale property. Related party K represents shareholders and
directors of the Company or the Company’s subsidiary. The amounts due to related party I represents expenses paid by the
shareholders or directors to third parties on behalf of the Company, are non-interest bearing, and are due on demand.

Deconsolidation of Controlling

Deconsolidation of Controlling Interest in Subsidiaries9 Months Ended
Sep. 30, 2020
Property and equipment
Deconsolidation of Controlling Interest in SubsidiariesNOTE 8 - DECONSOLIDATION OF CONTROLLING
INTEREST IN SUBSIDIARIES On February 29, 2020, the Company sold its
entire 60% interest in Yabez (Hong Kong) Limited and Yabez Business Service (SZ) Company Limited (collectively, “Yabez”)
to an unrelated party for $1. The transaction closed on February 29, 2020, and Yabez was deconsolidated following the closing. At February 29, 2020, Yabez’s assets
totaled $167,017, and consisted of cash of $24,887, trade accounts receivable of $129,792, and other assets of $12,338. At February
29, 2020, Yabez’s liabilities consisted of trade accounts payables of $173,680. At February 29, 2020, Yabez’s net deficit
was ($6,663), of which the non-controlling interest was ($7,446) and the Company’s basis was $783, resulting in a loss on
disposal of $727, after consideration of foreign currency adjustments. On May 20, 2020, Global Leaders Corporation
(formerly known as Greenpro Venture Cap (Qianhai) Limited), a wholly owned subsidiary of the Company, allotted an additional 196
shares to an unrelated party at the price of $196. As a result, the Company holds a 2% interest in GVCQH, and GVCQH’s sole
asset, cash of $129, was disposed and a loss on disposal of $125 was recorded. On August 17, 2020, the Company sold the balance
of the 2% interest in GVCQH to the unrelated party for $4.

Segment Information

Segment Information9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]
Segment InformationNOTE 9 - SEGMENT INFORMATION ASC 280, “Segment Reporting” establishes
standards for reporting information about operating segments on a basis consistent with the Company’s internal organization
structure as well as information about services categories, business segments and major customers in financial statements. The
Company has two reportable segments that are based on the following business units: service business and real estate business.
In accordance with the “Segment Reporting” Topic of the ASC, the Company’s chief operating decision maker has
been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating
resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment
reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures
about products and services, major customers, and the countries in which the entity holds material assets and reports revenue.
All material operating units qualify for aggregation under “Segment Reporting” due to their similar customer base and
similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes.
The Company operates two reportable business segments:
● Service business – provision of corporate advisory and business solution services
● Real estate business – leasing and trading of commercial real estate properties in Hong Kong and Malaysia The Company had no inter-segment sales for
the periods presented. Summarized financial information concerning the Company’s reportable segments is shown as below: (a) By Categories
For the nine months ended September 30, 2020 (Unaudited)
Real estate Service Corporate Total
Revenues $ 344,815 $ 1,551,783 $ - $ 1,896,598
Cost of revenues 250,800 252,687 - 503,487
Depreciation and amortization 113,553 72,366 7,591 193,510
Net income (loss) 71,060 (853,822 ) (452,717 ) (1,235,479 )
Total assets 2,407,537 4,938,386 4,100,892 11,446,815
Capital expenditures for long-lived assets $ - $ 2,106 $ - $ 2,106
For the nine months ended September 30, 2019 (Unaudited)
Real estate Service Corporate Total
Revenues $ 71,462 $ 3,244,626 $ - $ 3,316,088
Cost of revenues 34,989 1,002,753 128,250 1,165,992
Depreciation and amortization 24,303 147,419 12,505 184,227
Net loss (54,277 ) (384,585 ) (399,402 ) (838,264 )
Total assets 2,582,631 5,928,187 136,865 8,647,683
Capital expenditures for long-lived assets $ - $ 1,035 $ - $ 1,035 (b) By Geography*
For the nine months ended September 30, 2020 (Unaudited)
Hong Kong Malaysia China Total
Revenues $ 1,418,172 $ 364,361 $ 114,065 $ 1,896,598
Cost of revenues 364,171 138,316 1,000 503,487
Depreciation and amortization 78,947 25,412 89,151 193,510
Net loss (783,123 ) (68,705 ) (383,651 ) (1,235,479 )
Total assets 7,518,850 931,238 2,996,727 11,446,815
Capital expenditures for long-lived assets $ - $ 2,106 $ - $ 2,106
For the nine months ended September 30, 2019 (Unaudited)
Hong Kong Malaysia China Total
Revenues $ 2,470,476 $ 392,602 $ 453,010 $ 3,316,088
Cost of revenues 944,006 162,119 59,867 1,165,992
Depreciation and amortization 67,729 26,200 90,298 184,227
Net income (loss) (629,922 ) 48,744 (257,086 ) (838,264 )
Total assets 4,371,510 1,168,208 3,107,965 8,647,683
Capital expenditures for long-lived assets $ - $ - $ 1,035 $ 1,035 *Revenues and costs are attributed to countries
based on the location where the entities operate.

Subsequent Events

Subsequent Events9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent EventsNOTE 10 - SUBSEQUENT EVENTS Acquisition of other investment in Ata Plus
Sdn. Bhd.: On July 8, 2020, the Company entered into an
acquisition agreement (the “Agreement”) with all of eight shareholders of Ata Plus Sdn. Bhd. (the “Seller”)
and Ata Plus Sdn. Bhd., a Malaysian company and a Recognized Market Operator (RMO) by the Securities Commission of Malaysia
(“Ata Plus”). Pursuant to the Agreement, the Company agreed to acquire 15% of the issued and outstanding share of Ata
Plus for a purchase price of $750,000. The purchase price shall be paid by the Company issuing to the Seller approximately 457,312
restricted shares of the Company’s common stock, which was based on the average closing price of the Company’s common
stock for the five trading days preceding the date of the Agreement, $1.64 per share. At the reporting date, the Company has not
issued the shares to the Seller and the Company expects to issue the shares to the Seller on or before November 30, 2020. A copy of the form of acquisition agreement
is attached hereto as Exhibit 10.1 and is incorporated herein by reference. The foregoing summary of the terms of the acquisition
agreement is subject to, and qualified in its entirety by, such agreement. Distribution of DQWS shares as a dividend: On September 24, 2020, the board of directors
of the Company agreed to distribute 11,840,684 restricted shares of common stock of an investment of the Company, DSwiss, Inc.
(OTC: DQWS) (the “Dividend”)., to the Company’s shareholders of record on September 30, 2020. At September 30,
2020 (the “Record Date”), the Company owned 27,000,000 restricted shares of the total issued and outstanding 206,904,600
restricted shares of common stock of DQWS. The Dividend is comprised of approximately one (1) share of DQWS common stock for every
five (5) shares of the Company’s common stock issued and outstanding of the Record Date. On November 12, 2020, the Dividend was distributed
to the shareholders. Separate Private Placements with AG Opportunities
Fund SPC-AG Pre-IPO Fund SP1 and Mr. Seah Kok Wah On October 9, 2020, the Company entered into
separate subscription agreements (each, a “Subscription Agreement”) with accredited investors, AG Opportunities Fund
SPC-AG Pre-IPO Fund SP1 and Mr. Seah Kok Wah (the “Investors”), pursuant to which the Company issued and sold to the
Investors in a private placement an aggregate of 195,455 shares of the Company’s common stock. The shares of common stock
were sold at a price per share of $1.10 for aggregate gross proceeds of $215,000. The Company intends to use the proceeds from
the private placement for working capital and general corporate purposes. Convertible Note Financing with FirstFire
Global Opportunities Fund, LLC: On October 13, 2020, the Company entered into
a securities purchase agreement with FirstFire Global Opportunities Fund, LLC, an accredited investor (“FirstFire”
or the “Investor”), pursuant to which the Company issued and sold to the Investor in a private placement an unsecured
convertible promissory note in the aggregate principal amount $560,000, convertible into shares of the Company’s common stock
at a conversion price of $1.00 per share. The note carries an original issue discount of $50,000. After the payment of $40,000
to cover a broker’s fee, $5,000 and $5,000 each to cover the Investor’s legal expenses and administrative fee, the
Company received proceeds of $460,000. The note may be prepaid by the Company in an amount equal to 120% of the outstanding balance
of the note. The shares of common stock issuable upon conversion of the note is subject to full-ratchet anti-dilution protection.
The note may be redeemed by the Investor at any time after the six-month anniversary of the issuance date of the note subject to
the maximum monthly redemption amount of $108,000, convertible into shares of common stock at a conversion price equal to the lesser
of (i) $1.00 and (ii) 75% of the average of the lowest VWAP during the ten trading days immediately preceding the measurement date.
Pursuant to the securities purchase agreement, the Investor was granted a “most favored nations” right. Events of Default (“Events of Default”)
under the note include but are not limited to: (a) failure to pay any principal, interest, fees, charges, or any other amount when
due; (b) failure to deliver any conversion shares in accordance with the terms of the note; (c) a receiver, trustee or other similar
official shall be appointed over Company or a material part of its assets and such appointment shall remain uncontested for twenty
(20) days or shall not be dismissed or discharged within sixty (60) days; (d) Company becomes insolvent; (e) Company makes a general
assignment for the benefit of creditors; (f) Company files a petition for relief under any bankruptcy, insolvency or similar law
(domestic or foreign); an involuntary bankruptcy proceeding is commenced or filed against Borrower; (g) Company defaults or otherwise
fails to observe or perform any covenant, obligation, condition or agreement of Company in the note or in any other transaction
document; (h) any representation, warranty or other statement made or furnished by or on behalf of Company is false, incorrect,
incomplete or misleading in any material respect when made or furnished; (i) the occurrence of a Fundamental Transaction (as defined
in the note) without the Investor’s prior written consent; (j) Company fails to reserve a sufficient number of shares to
issue upon conversion of the note; (k) Company effectuates a reverse split of its common stock without twenty trading days prior
written notice to the Investor; (l) any money judgment, writ or similar process is entered or filed against the Company or any
subsidiary of the Company or any of its property or other assets for more than $100,000, and shall remain unvacated, unbonded or
unstayed for a period of twenty calendar days unless otherwise consented to by the Investor; (m) the Company fails to be DWAC eligible;
(n) the Company fails to observe or perform any covenant set forth in Section 4 of the securities purchase agreement; or (o) the
Company, any affiliate of the Company, or any pledgor, trustor, or guarantor of the note breaches any covenant or other term or
condition contained in any other financing or material agreements. In the case of an Event of Default, interest shall accrue under
the note at the annual rate of 22%. Certain Major Defaults (as defined in the note) will result in an additional 15% of the aggregate
principal amount of the note outstanding at such time being added to the total outstanding amount of such note. The number of shares
of common stock that may be issued upon conversion of this note and the other notes disclosed herein shall not exceed the requirement
of Nasdaq Listing Rule 5635(d). Copies of the forms of the securities purchase
agreement with FirstFire and the note issued to FirstFire are attached hereto as Exhibits 10.2 and 10.3, respectively, and are
incorporated herein by reference. The foregoing summary of the terms of such securities purchase agreement and the note are subject
to, and qualified in its entirety by, such agreements. Convertible Note Financing with Streeterville
Capital, LLC: On October 13, 2020, the Company entered
into a securities purchase agreement with Streeterville Capital, LLC, an accredited investor (“Streeterville” or the
“Investor”), pursuant to which the Company issued and sold to the Investor in a private placement an unsecured convertible
promissory note in the aggregate principal amount $670,000, convertible into shares of common stock at a conversion price of $1.00
per share. The note carries an original issue discount of $60,000. After the payment of $50,000 to cover a broker’s fee and
$10,000 to cover the Investor’s legal expenses, the Company received proceeds of $550,000. The note may be prepaid by the
Company in an amount equal to 120% of the outstanding balance of the note. The shares of common stock issuable upon conversion
of the note is subject to full-ratchet anti-dilution protection. The note may be redeemed by the Investor at any time after the
six-month anniversary of the issuance date of the note subject to the maximum monthly redemption amount of $108,000, convertible
into shares of common stock at a conversion price equal to the lesser of (i) $1.00 and (ii) 75% of the average of the lowest VWAP
during the ten trading days immediately preceding the measurement date. Pursuant to the securities purchase agreement, the Investor
was granted a “most favored nations” right. Events of Default under this note include the same Events of Default listed
above under the description of the FirstFire convertible note financing. In the case of an Event of Default, interest shall accrue
under the note at the annual rate of 22%. Certain Major Defaults (as defined in the note) will result in an additional 15% of the
aggregate principal amount of the note outstanding at such time being added to the total outstanding amount of such note. The number
of shares of common stock that may be issued upon conversion of this note and the other notes disclosed herein shall not exceed
the requirement of Nasdaq Listing Rule 5635(d). Copies of the forms of the securities purchase
agreement with Streeterville and the note issued to Streeterville are attached hereto as Exhibits 10.4 and 10.5, respectively,
and are incorporated herein by reference. The foregoing summary of the terms of such securities purchase agreement and the note
are subject to, and qualified in its entirety by, such agreements. Convertible Note Financing with Granite
Global Value Investments Ltd.: On October 13, 2020, the Company entered
into a securities purchase agreement with Granite Global Value Investments Ltd., an accredited investor (“Granite”
or the “Investor”), pursuant to which the Company issued and sold to the Investor in a private placement an unsecured
convertible promissory note in the aggregate principal amount $560,000, convertible into shares of common stock at a conversion
price of $1.00 per share. The note carries an original issue discount of $50,000. After the payment of $40,000 to cover a broker’s
fee and $10,000 to cover the Investor’s legal expenses, the Company received proceeds of $460,000. The note may be prepaid
by the Company in an amount equal to 120% of the outstanding balance of the note. The shares of common stock issuable upon conversion
of the note is subject to full-ratchet anti-dilution protection. The note may be redeemed by the Investor at any time after the
six-month anniversary of the issuance date of the note subject to the maximum monthly redemption amount of $108,000, convertible
into shares of common stock at a conversion price equal to the lesser of (i) $1.00 and (ii) 75% of the average of the lowest VWAP
during the ten trading days immediately preceding the measurement date. Pursuant to the securities purchase agreement, the Investor
was granted a “most favored nations” right. Events of Default under this note include the same Events of Default listed
above under the description of the FirstFire convertible note financing. In the case of an Event of Default, interest shall accrue
under the note at the annual rate of 22%. Certain Major Defaults (as defined in the note) will result in an additional 15% of the
aggregate principal amount of the note outstanding at such time being added to the total outstanding amount of such note. The number
of shares of common stock that may be issued upon conversion of this note and the other notes disclosed herein shall not exceed
the requirement of Nasdaq Listing Rule 5635(d). Copies of the forms of the securities purchase
agreement with Granite and the note issued to Granite are attached hereto as Exhibits 10.6 and 10.7, respectively, and are incorporated
herein by reference. The foregoing summary of the terms of such securities purchase agreement and the note are subject to, and
qualified in its entirety by, such agreements. Acquisition of other investment in First
Bullion Holdings Inc.: On October 19, 2020,
the Company entered into a Stock Purchase and Option Agreement (the “Agreement”) with Tang Ka Siu Johnny (the “Seller”)
and First Bullion Holdings Inc., a British Virgin Islands company (“FBHI”). Pursuant to the Agreement, the Company
will acquire 10% of the issued and outstanding shares of FBHI for a purchase price of $1,000,000. The purchase price shall be paid
by the Company issuing to the Seller approximately 685,871 restricted shares of the Company’s common stock, which was based
on the average closing price of the Company’s common stock for the five trading days preceding the date of the Agreement.
FBHI is in the business of banking, payment gateway, credit cards, debit cards, money lending, crypto trading and securities token
offerings, with corporate offices in the Philippines and Hong Kong. FBHI and the Seller
also granted to the Company an option for 180 days following the date of the Agreement to purchase an additional 8% of the issued
and outstanding shares of FBHI, at an agreed valuation of FBHI equal to $20,000,000. The purchase price will be based on the average
closing price of the Company’s common stock for the five trading days preceding the date of exercise of the option. In consideration
of granting the option, the Company shall issue to the Seller 250,000 restricted shares of the Company’s common stock, which
shall constitute partial payment for the option should the Company elect to exercise the option. The closing is expected to occur
on or before November 30, 2020. Acquisition of other investment in New Business
Media Sdn. Bhd.: On November 1, 2020, the Company entered into
an acquisition agreement (the “Agreement”) with Ms. Lee Yuet Lye and Mr. Chia Min Kiat, shareholders of New Business
Media Sdn. Bhd. (“NBM”), a Malaysian company involved in operating a Chinese media portal, which provides digital news
services focusing on Asian capital markets. Pursuant to the Agreement, both Ms. Lee and Mr. Chia have agreed to sell to the Company
an 18% equity interest in NBM in consideration of a new issuance of 257,591 restricted shares of the Company’s common stock,
valued at $411,120, $1.596 per share. The consideration was derived from an agreed valuation of NBM of $2,284,000, based on its
assets including customers, fixed assets, cash and cash equivalents, liabilities as of November 1, 2020. The closing is expected
to occur on or before November 30, 2020.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of ConsolidationBasis of presentation and principles of
consolidation The accompanying unaudited condensed consolidated
financial statements as of and for the nine months ended September 30, 2020 and 2019, have been prepared pursuant to the rules
and regulations of the Securities and Exchange Commission (the “SEC”) that permit reduced disclosure for interim periods.
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles
generally accepted in the United States of America (“US GAAP”) have been condensed or omitted. In the opinion of management,
all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating
results for the period ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year
ending December 31, 2020. The Condensed Consolidated Balance Sheet information as of December 31, 2019 was derived from the Company’s
audited Consolidated Financial Statements as of and for the year ended December 31, 2019 included in the Company’s Annual
Report on Form 10-K filed with the SEC on March 30, 2020. These financial statements should be read in conjunction with that report. The accompanying unaudited condensed consolidated
financial statements include the accounts of the Company and its wholly owned subsidiaries and majority-owned subsidiaries which
the Company controls and entities for which the Company is the primary beneficiary. For those consolidated subsidiaries where the
Company’s ownership is less than 100%, the outside shareholders’ interests are shown as noncontrolling interests in
equity. Acquired businesses are included in the consolidated financial statements from the date on which control is transferred
to the Company. Subsidiaries are deconsolidated from the date that control ceases. All inter-company accounts and transactions
have been eliminated in consolidation.
Going ConcernGoing Concern The accompanying financial statements have
been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments
in the normal course of business. During the nine months ended September 30, 2020, the Company incurred a net loss of $1,235,479
and used cash in operations of $845,125 and at September 30, 2020, the Company had a working capital deficiency of $2,864,238.
These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date
that the financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its
report on the Company’s December 31, 2019 financial statements, has expressed substantial doubt about the Company’s
ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the
Company is unable to continue as a going concern. The Company’s ability to continue as
a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management
believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations
as they become due. Despite the amount of funds that we have raised in the past, no assurance can be given that any future financing,
if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company
is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing,
or cause substantial dilution for its stockholders, in the case of equity financing.
COVID-19 OutbreakCOVID-19 outbreak In March 2020, the World Health Organization
declared coronavirus COVID-19 a global pandemic. The COVID-19 pandemic has negatively impacted
the global economy, and created significant volatility and
disruption of financial markets
Use of EstimatesUse of estimates The preparation of financial statements in
conformity with US GAAP requires management to make estimates and assumptions relating to the reporting of assets and liabilities
and the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and
expenses during the reporting period. Significant accounting estimates include certain assumptions related to, among others, the
allowance for doubtful accounts receivable, impairment analysis of real estate assets and other long-term assets including goodwill,
valuation allowance on deferred income taxes, the assumptions used in the valuation of the derivative liability, and the accrual
of potential liabilities. Actual results may differ from these estimates.
Cash, Cash Equivalents, and Restricted CashCash, cash equivalents, and restricted cash Cash consists of funds on hand and held in
bank accounts. Cash equivalents includes demand deposits placed with banks or other financial institutions and all highly liquid
investments with original maturities of three months or less, including money market funds. Restricted cash represents cash restricted
for the loan collateral requirements as defined in a loan agreement and also the minimum paid-up share capital requirement for
insurance brokers specified under the Insurance Ordinance of Hong Kong. At September 30, 2020 and December 31, 2019,
cash included funds held by employees of $20,967 and $33,096, respectively, and was held to facilitate payment of expenses in local
currencies and to facilitate third-party online payment platforms in which the Company had not set up corporate accounts (WeChat
Pay and Alipay).
As of As of
(Unaudited)
Cash, cash equivalents, and restricted cash
Denominated in United States Dollars $ 65,994 $ 337,960
Denominated in Hong Kong Dollars 216,311 393,062
Denominated in Chinese Renminbi 217,162 494,870
Denominated in Malaysian Ringgit 60,276 30,847
Cash, cash equivalents, and restricted cash $ 559,743 $ 1,256,739
Revenue RecognitionRevenue recognition The Company follows the guidance of Accounting
Standards Codification (ASC) 606, Revenue from Contracts
InvestmentsInvestments Investments in equity securities The Company accounts for its investments that
represent less than 20% ownership, and for which the Company does not have the ability to exercise significant influence, at their
fair value at the end of each reporting period, unless there is no readily determinable fair value. Equity investments without
readily determinable fair values are accounted for at cost and assessed for impairment at each reporting period. At September 30,
2020 and December 31, 2019, the Company had four and two investments in equity securities of related parties valued at $4,054,263
and $53,363, respectively. Investments under the equity method The Company applies the equity method to investments
in common stock when we possess the ability to exercise significant influence, but not control, over the operating and financial
policies of the investee. The ability to exercise significant influence is generally presumed when the investor possesses 20% or
more of the voting interests of the investee. In applying the equity method, we record the investment at cost and subsequently
increase or decrease the carrying amount of the investment by our proportionate share of the net earnings or losses and other comprehensive
income of the investee. We generally stop applying the equity method when our share of the investee’s net losses has reduced
our investment to zero unless we have additional investments in the investee at risk or have committed financial support to the
investee. At September 30, 2020 and December 31, 2019, the Company had one investment accounted for under the equity method that
was valued at zero.
Derivative Financial InstrumentsDerivative Financial Instruments The Company evaluates its financial instruments
to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial
instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then
re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of
derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the
end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based
on whether net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. At each
reporting date, the Company reviews its convertible securities to determine whether their classification is appropriate.
Income (Loss) Per ShareIncome (loss) per share Basic income (loss) per share is computed by
dividing the net income (loss) available to common stockholders by the weighted average number of common shares outstanding during
the period. Diluted net loss per share is calculated by dividing the net loss by the weighted average number of common shares outstanding
during the period plus any potentially dilutive shares related to the issuance of shares from stock warrants. For the three and
nine months ended September 30, 2020 and 2019, the only outstanding common stock equivalents were warrants for 53,556 potentially
dilutive shares outstanding. These warrants have been excluded from the calculation of weighted average shares as the effect would
have been anti-dilutive and therefore, basic and diluted net loss per share were the same.
Foreign Currency TranslationForeign currency translation The reporting currency of the Company is the
United States Dollars (“US$”) and the accompanying condensed consolidated financial statements have been expressed
in US$. In addition, the Company’s operating subsidiaries maintain their books and records in their respective functional
currency, which consists of the Malaysian Ringgit (“MYR”), Chinese Renminbi (“RMB”), Hong Kong Dollars
(“HK$”) and Australian Dollars (“AU$”). In general, for consolidation purposes, assets
and liabilities of the Company’s subsidiaries whose functional currency is not the US$, are translated into US$ using the
exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The
gains and losses resulting from translation of financial statements of a foreign subsidiary are recorded as a separate component
of accumulated other comprehensive loss within stockholders’ equity. Translation of amounts from the local currencies
of the Company into US$ has been made at the following exchange rates for the respective periods:
As of and for the nine months ended
2020 2019
Period-end MYR : US$1 exchange rate 4.16 4.19
Period-average MYR : US$1 exchange rate 4.24 4.14
Period-end RMB : US$1 exchange rate 6.79 7.13
Period-average RMB : US$1 exchange rate 7.00 6.87
Period-end HK$ : US$1 exchange rate 7.75 7.84
Period-average HK$ : US$1 exchange rate 7.76 7.81
Period-end AU$ : US$1 exchange rate 1.40 1.48
Period-average AU$ : US$1 exchange rate 1.48 1.42
Fair Value of Financial InstrumentsFair value of financial instruments The Company follows the guidance of ASC 820-10,
“ Fair Value Measurements and Disclosures
● Level 1
● Level 2
● Level 3 The Company believes the carrying amount reported
in the balance sheet for cash and cash equivalents, accounts receivable, prepaids and other current assets, accounts payable and
accrued liabilities, income tax payable, deferred costs of revenue, deferred revenue, and due to related parties, approximate their
fair values because of the short-term nature of these financial instruments. As of September 30, 2020, the Company’s
balance sheet includes Level 2 liabilities comprised of the fair value of embedded derivative liabilities of $56,694 (see Note
5). The fair value of the derivative liabilities is based on significant inputs not observable in the market, which represents
a Level 2 measurement within the fair value hierarchy. The following table sets forth a summary of the changes in the estimated
fair value of our embedded derivative during the nine-month period ended September 30, 2020:
Embedded derivative
Balance as of December 31, 2019 $ 28,545
Net change in the fair value 28,149
Balance as of September 30, 2020 $ 56,694
Concentrations of RisksConcentrations of risks For the three months ended September 30, 2020,
one customer accounted for 37% of revenues. For the nine months ended September 30, 2020, two customers accounted for 31% (18%
and 13%) of revenues. For the three and nine months ended September 30, 2019, three customers accounted for 39% (21%, 9%, and 9%)
and 59% (26%, 18%, and 15%) of revenue, respectively. For the three and nine months ended September 30, 2020, three customers accounted
for 38% (16%, 11% and 11%) of accounts receivable at period-end. For the three and nine months ended September 30, 2019, no customer
accounted for 10% or more of accounts receivable at period-end. For the three and nine months ended September
30, 2020 and 2019, no vendor accounted for 10% or more of the Company’s cost of revenues. For the three and nine months ended
September 30, 2020, two vendors accounted for 59% (24%, 19% and 16%) of accounts payable at period-end. For the three and nine
months ended September 30, 2019, no vendor accounted for 10% or more of accounts payable at period-end.
Economic and Political RisksEconomic and political risks Substantially all the Company’s services
are conducted in the Asian region, primarily in Hong Kong, Malaysia, and the People’s Republic of China (“PRC”).
Among other risks, the Company’s operations in Malaysia are subject to the risks of restrictions on transfer of funds; export
duties, quotas, and embargoes; domestic and international customs and tariffs; changing taxation policies; foreign exchange restrictions;
and political conditions and governmental regulations in Malaysia. The Company’s operations in the PRC are
subject to special considerations and significant risks not typically associated with companies in North America and Western Europe.
These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange.
The Company’s results may be adversely affected by changes in the political conditions in the PRC, and by changes in governmental
policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and
methods of taxation.
Recent Accounting PronouncementsRecent accounting pronouncements The FASB issued ASU 2016-13, Measurement
of Credit Losses on Financial Instruments Other recent accounting pronouncements issued
by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities
and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future
financial statements.

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Tables)9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash, Cash Equivalents, and Restricted CashAs of As of
(Unaudited)
Cash, cash equivalents, and restricted cash
Denominated in United States Dollars $ 65,994 $ 337,960
Denominated in Hong Kong Dollars 216,311 393,062
Denominated in Chinese Renminbi 217,162 494,870
Denominated in Malaysian Ringgit 60,276 30,847
Cash, cash equivalents, and restricted cash $ 559,743 $ 1,256,739
Schedule of Foreign Currencies TranslationTranslation of amounts from the local currencies
of the Company into US$ has been made at the following exchange rates for the respective periods:
As of and for the nine months ended
2020 2019
Period-end MYR : US$1 exchange rate 4.16 4.19
Period-average MYR : US$1 exchange rate 4.24 4.14
Period-end RMB : US$1 exchange rate 6.79 7.13
Period-average RMB : US$1 exchange rate 7.00 6.87
Period-end HK$ : US$1 exchange rate 7.75 7.84
Period-average HK$ : US$1 exchange rate 7.76 7.81
Period-end AU$ : US$1 exchange rate 1.40 1.48
Period-average AU$ : US$1 exchange rate 1.48 1.42
Schedule of Fair Value of Embedded Derivative LiabilitiesThe following table sets forth a summary of
the changes in the estimated fair value of our embedded derivative during the nine-month period ended September 30, 2020:
Embedded derivative
Balance as of December 31, 2019 $ 28,545
Net change in the fair value 28,149
Balance as of September 30, 2020 $ 56,694

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenue Based on Revenue by Service Lines and Revenue by Geographic AreaThe following table provides information about
disaggregated revenue based on revenue by service lines and revenue by geographic area:
Three Months Ended
2020 2019
(Unaudited) (Unaudited)
Revenue by service lines:
Corporate advisory – Non-listing services $ 389,509 $ 622,798
Corporate advisory – Listing services 101 509,986
Rental of real estate properties 35,630 19,542
Sale of real estate properties 253,677 -
Total revenue $ 678,917 $ 1,152,326
Three Months Ended
2020 2019
(Unaudited) (Unaudited)
Revenue by geographic area:
Hong Kong $ 506,699 $ 629,573
Malaysia 133,107 148,603
China 39,111 374,150
Total revenue $ 678,917 $ 1,152,326
Nine Months Ended
2020 2019
(Unaudited) (Unaudited)
Revenue by service lines:
Corporate advisory – Non-Listing services $ 1,196,297 $ 1,534,640
Corporate advisory – Listing services 355,486 1,709,986
Rental of real estate properties 91,138 71,462
Sale of real estate properties 253,677 -
Total revenue $ 1,896,598 $ 3,316,088
Nine Months Ended
2020 2019
(Unaudited) (Unaudited)
Revenue by geographic area:
Hong Kong $ 1,418,172 $ 2,470,476
Malaysia 364,361 392,602
China 114,065 453,010
Total revenue $ 1,896,598 $ 3,316,088
Schedule of Changes in Deferred RevenueChanges in deferred revenue were as follows:
Nine Months
(Unaudited)
Deferred revenue, January 1, 2020 $ 1,202,153
New contract liabilities 391,573
Performance obligations satisfied (355,486 )
Deferred revenue, September 30, 2020 $ 1,238,240
Schedule of Deferred Revenue and Deferred Costs of RevenueDeferred revenue and deferred costs of revenue
at September 30, 2020 and December 31, 2019 are classified as current assets or current liabilities and totaled:
As of As of
(Unaudited)
Deferred revenue $ 1,238,240 $ 1,202,153
Deferred costs of revenue $ 53,107 $ 73,821

Operating Leases (Tables)

Operating Leases (Tables)9 Months Ended
Sep. 30, 2020
Leases [Abstract]
Schedule of Components of Lease Expense and Supplemental Cash Flow InformationThe components of lease expense and supplemental
cash flow information related to leases for the period are as follows:
Nine Months September 30,
Lease Cost
Operating lease cost (included in general and administrative expenses in the Company’s unaudited condensed statement of operations) $ 245,682
Other Information
Cash paid for amounts included in the measurement of lease liabilities for the nine months ended September 30, 2020 $ 195,363
Weighted average remaining lease term – operating leases (in years) 0.58
Average discount rate – operating leases 4.0 %
Schedule of Supplemental Balance Sheet Information Related to LeasesThe supplemental balance sheet information
related to leases for the period is as follows:
At September 30,
Operating leases
Long-term right-of-use assets $ 148,296
Short-term operating lease liabilities $ 151,521
Long-term operating lease liabilities -
Total operating lease liabilities $ 151,521
Schedule of Maturities of Lease LiabilitiesMaturities of the Company’s lease liabilities
are as follows (in thousands):
Year Ending Operating
2020 (remaining 3 months) $ 65,806
2021 87,742
Total lease payments 153,548
Less: Imputed interest/present value discount (2,027 )
Present value of lease liabilities $ 151,521

Derivative Liabilities (Tables)

Derivative Liabilities (Tables)9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Liabilities at Fair ValueThe derivative liabilities were valued using
the Black-Scholes-Merton valuation model with the following assumptions:
As of As of
September 30, 2020 December 31, 2019
(Unaudited)
Risk-free interest rate $ 1.5 % $ 2.4 %
Expected volatility 182 % 173 %
Contractual life (in years) 2.7 years 3.4 years
Expected dividend yield 0.00 % 0.00 %
Fair Value of warrants $ 56,694 $ 28,545

Warrants (Tables)

Warrants (Tables)9 Months Ended
Sep. 30, 2020
Warrants and Rights Note Disclosure [Abstract]
Summary of Warrants ActivityA summary of warrant activity during the nine
months ended September 30, 2020 is presented below:
Remaining
Number Contractual
of Exercise Life
Shares Price (in Years)
Warrants outstanding at December 31, 2019 53,556 $ 7.20
Granted — —
Exercised — —
Expired — —
Warrants outstanding at September 30, 2020 53,556 $ 7.20 2.7
Warrants exercisable at September 30, 2020 53,556 $ 7.20 2.7

Related Party Transactions (Tab

Related Party Transactions (Tables)9 Months Ended
Sep. 30, 2020
Related Party Transactions [Abstract]
Schedule of Amounts Due from Related PartiesDue from related parties: September 30, 2020 December 31, 2019
(Unaudited)
Accounts receivable, net
Due from related party B (net of allowance of $380) $ 7,223 $ -
Due from related parties
Due from related party G 2,391 1,623
Due from related party H 60,000 60,000
Total $ 69,614 $ 61,623
Schedule of Due to Related PartiesDue to related parties: September 30, 2020 December 31, 2019
(Unaudited)
Due to related party A $ 2,920 $ 1,113
Due to related party B 30,107 35
Due to related party D - 25
Due to related party E - 2,167
Due to related party J 741,045 779,561
Due to related party K 481,219 226,859
Total $ 1,255,291 $ 1,009,760
Schedule of Related Parties TransactionsFor the nine months ended
Income from or expenses to related parties: 2020 2019
(Unaudited) (Unaudited)
Service revenue from related parties
- Related party A $ 43,229 $ 211,624
- Related party B 108,297 804,867
- Related party C 1,162 385
- Related party D 14,366 712,710
- Related party E 14,251 11,193
- Related party G 112 2,754
Total $ 181,417 $ 1,743,533
Cost of service revenue to related parties
- Related party B $ 2,514 $ -
- Related party D - 184,000
Total $ 2,514 $ 184,000
General and administrative expenses to related parties
- Related party A $ 4,234 $ -
- Related party B 2,900 -
- Related party D - 155,138
- Related party G 1,186 -
Total $ 8,320 $ 155,138
Other income from related parties
- Related party D $ - 1,610
- Related party E - 8,188
Total $ - $ 9,798

Segment Information (Tables)

Segment Information (Tables)9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Summarized Financial InformationSummarized financial information concerning
the Company’s reportable segments is shown as below: (a) By Categories
For the nine months ended September 30, 2020 (Unaudited)
Real estate Service Corporate Total
Revenues $ 344,815 $ 1,551,783 $ - $ 1,896,598
Cost of revenues 250,800 252,687 - 503,487
Depreciation and amortization 113,553 72,366 7,591 193,510
Net income (loss) 71,060 (853,822 ) (452,717 ) (1,235,479 )
Total assets 2,407,537 4,938,386 4,100,892 11,446,815
Capital expenditures for long-lived assets $ - $ 2,106 $ - $ 2,106
For the nine months ended September 30, 2019 (Unaudited)
Real estate Service Corporate Total
Revenues $ 71,462 $ 3,244,626 $ - $ 3,316,088
Cost of revenues 34,989 1,002,753 128,250 1,165,992
Depreciation and amortization 24,303 147,419 12,505 184,227
Net loss (54,277 ) (384,585 ) (399,402 ) (838,264 )
Total assets 2,582,631 5,928,187 136,865 8,647,683
Capital expenditures for long-lived assets $ - $ 1,035 $ - $ 1,035 (b) By Geography*
For the nine months ended September 30, 2020 (Unaudited)
Hong Kong Malaysia China Total
Revenues $ 1,418,172 $ 364,361 $ 114,065 $ 1,896,598
Cost of revenues 364,171 138,316 1,000 503,487
Depreciation and amortization 78,947 25,412 89,151 193,510
Net loss (783,123 ) (68,705 ) (383,651 ) (1,235,479 )
Total assets 7,518,850 931,238 2,996,727 11,446,815
Capital expenditures for long-lived assets $ - $ 2,106 $ - $ 2,106
For the nine months ended September 30, 2019 (Unaudited)
Hong Kong Malaysia China Total
Revenues $ 2,470,476 $ 392,602 $ 453,010 $ 3,316,088
Cost of revenues 944,006 162,119 59,867 1,165,992
Depreciation and amortization 67,729 26,200 90,298 184,227
Net income (loss) (629,922 ) 48,744 (257,086 ) (838,264 )
Total assets 4,371,510 1,168,208 3,107,965 8,647,683
Capital expenditures for long-lived assets $ - $ - $ 1,035 $ 1,035 *Revenues and costs are attributed to countries
based on the location where the entities operate.

Organization and Summary of S_4

Organization and Summary of Significant Accounting Policies (Details Narrative)3 Months Ended9 Months Ended
Sep. 30, 2020USD ($)IntegersharesSep. 30, 2019USD ($)IntegersharesSep. 30, 2020USD ($)IntegersharesSep. 30, 2019USD ($)IntegersharesDec. 31, 2019USD ($)
Ownership percentage100.00%100.00%
Net loss | $ $ (429,749) $ (211,147) $ (1,235,479) $ (838,264)
Net cash used in operating activities | $845,125 $ 1,241,216
Working capital deficiency | $2,864,238 2,864,238
Funds held by employees | $ $ 20,967 $ 20,967 $ 33,096
Ownership percentage in investments20.00%20.00%
Equity securities of related parties | $ $ 4,054,263 $ 4,054,263 53,363
Investments | $0 0 $ 0
Fair value of derivative liabilities | $ $ 56,694 $ 56,694
Revenue [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Concentration risk, percentage37.00%
Number of customer1
Revenue [Member] | Customer Concentration Risk [Member] | Two Customer [Member]
Concentration risk, percentage31.00%
Number of customer2
Revenue [Member] | Customer Concentration Risk [Member] | Customer One [Member]
Concentration risk, percentage21.00%18.00%26.00%
Revenue [Member] | Customer Concentration Risk [Member] | Customer Two [Member]
Concentration risk, percentage9.00%13.00%18.00%
Revenue [Member] | Customer Concentration Risk [Member] | Three Customer [Member]
Concentration risk, percentage39.00%59.00%
Number of customer3 3
Revenue [Member] | Customer Concentration Risk [Member] | Customer Three [Member]
Concentration risk, percentage9.00%15.00%
Revenue [Member] | Customer Concentration Risk [Member] | No Vendor [Member]
Concentration risk, percentage10.00%10.00%10.00%10.00%
Number of vendor0 0 0 0
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer One [Member]
Concentration risk, percentage16.00%16.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Two [Member]
Concentration risk, percentage11.00%11.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Three [Member]
Concentration risk, percentage11.00%11.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Three Customers [Member]
Concentration risk, percentage38.00%38.00%
Number of customer3 3
Accounts Receivable [Member] | Customer Concentration Risk [Member] | No Customer [Member]
Concentration risk, percentage10.00%10.00%
Number of customer0 0
Accounts Payable [Member] | Supplier Concentration Risk [Member] | No Vendor [Member]
Concentration risk, percentage10.00%10.00%
Number of vendor0 0
Accounts Payable [Member] | Supplier Concentration Risk [Member] | Two Vendor [Member]
Concentration risk, percentage59.00%59.00%
Number of vendor2 2
Accounts Payable [Member] | Supplier Concentration Risk [Member] | Vendor One [Member]
Concentration risk, percentage24.00%24.00%
Accounts Payable [Member] | Supplier Concentration Risk [Member] | Vendor Two [Member]
Concentration risk, percentage19.00%19.00%
Accounts Payable [Member] | Supplier Concentration Risk [Member] | Vendor Three [Member]
Concentration risk, percentage16.00%16.00%
Warrant [Member]
Potentially antidilutive shares outstanding | shares53,556 53,556 53,556 53,556

Organization and Summary of S_5

Organization and Summary of Significant Accounting Policies - Schedule of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($)Sep. 30, 2020Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Cash, cash equivalents, and restricted cash $ 559,743 $ 1,256,739
United States Dollars [Member]
Property, Plant and Equipment [Line Items]
Cash, cash equivalents, and restricted cash65,994 337,960
Hong Kong Dollars [Member]
Property, Plant and Equipment [Line Items]
Cash, cash equivalents, and restricted cash216,311 393,062
Chinese Renminbi [Member]
Property, Plant and Equipment [Line Items]
Cash, cash equivalents, and restricted cash217,162 494,870
Malaysian Ringgit [Member]
Property, Plant and Equipment [Line Items]
Cash, cash equivalents, and restricted cash $ 60,276 $ 30,847

Organization and Summary of S_6

Organization and Summary of Significant Accounting Policies - Schedule of Foreign Currencies Translation (Details)Sep. 30, 2020Sep. 30, 2019
Period-End MYR : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation4.164.19
Period-Average MYR : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation4.244.14
Period-End RMB : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation6.797.13
Period-Average RMB : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation7 6.87
Period-End HK$ : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation7.757.84
Period-Average HK$ : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation7.767.81
Period-End AU$ : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation1.401.48
Period-Average AU$ : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation1.481.42

Organization and Summary of S_7

Organization and Summary of Significant Accounting Policies - Schedule of Fair Value of Embedded Derivative Liabilities (Details) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance as of December 31, 2019 $ 28,545
Net change in the fair value $ (11,804) $ (8,221)28,149 $ (192,785)
Balance as of June 30, 2020 $ 56,694 $ 56,694

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details Narrative)Sep. 30, 2019Integer
Revenue from Contract with Customer [Abstract]
Number of units in real estate property held for sale0

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Schedule of Disaggregated Revenue Based on Revenue by Service Lines and Revenue by Geographic Area (Details) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenue $ 678,917 $ 1,152,326 $ 1,896,598 $ 3,316,088
Hong Kong [Member]
Disaggregation of Revenue [Line Items]
Total revenue506,699 629,573 1,418,172 2,470,476
Malaysia [Member]
Disaggregation of Revenue [Line Items]
Total revenue133,107 148,603 364,361 [1]392,602 [1]
China [Member]
Disaggregation of Revenue [Line Items]
Total revenue39,111 374,150 114,065 [1]453,010 [1]
Corporate Advisory - Non-Listing Services [Member]
Disaggregation of Revenue [Line Items]
Total revenue389,509 622,798 1,196,297 1,534,640
Corporate Advisory - Listing Services [Member]
Disaggregation of Revenue [Line Items]
Total revenue101 509,986 355,486 1,709,986
Rental of Real Estate Properties [Member]
Disaggregation of Revenue [Line Items]
Total revenue35,630 19,542 91,138 71,462
Sale of Real Estate Properties [Member]
Disaggregation of Revenue [Line Items]
Total revenue $ 253,677 $ 253,677
[1]Revenues and costs are attributed to countries based on the location where the entities operate.

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Schedule of Changes in Deferred Revenue (Details)9 Months Ended
Sep. 30, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Deferred revenue, January 1, 2020 $ 1,202,153
New contract liabilities391,573
Performance obligations satisfied(355,486)
Deferred revenue, June 30, 2020 $ 1,238,240

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Schedule of Deferred Revenue and Deferred Costs of Revenue (Details) - USD ($)Sep. 30, 2020Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Deferred revenue $ 1,238,240 $ 1,202,153
Deferred costs of revenue $ 53,107 $ 73,821

Other Investments (Details Narr

Other Investments (Details Narrative)Jul. 02, 2020USD ($)$ / sharessharesJun. 15, 2020sharesMay 27, 2020USD ($)kg$ / sharesSep. 30, 2020USD ($)sharesJun. 29, 2020
Acquired percentage100.00%
Gain on disposal | $ $ 1,000,000
Common Class B [Member] | Millennium Fine Art Inc [Member]
Aggregate purchase price | $ $ 4,000,000
Ownership interest1.00%
Number of shares owned1,000,000
Common Class B [Member] | Reserved as Dividend and Expect to Distribute in 2021[Member] | Millennium Fine Art Inc [Member]
Number of shares owned1,000,000
Purchase and Sale Agreement [Member]
Acquisition kilogram carved | kg12.3
Acquired percentage4.00%4.00%
Number of restricted shares of common stock, shares4,444,444
Aggregate purchase price | $ $ 4,000,000
Share price per share | $ / shares $ 0.90
Appraised value | $ $ 100,000,000
Recognized investment | $ $ 4,000,000
Ownership interest4.00%
Purchase and Sale Agreement [Member] | Common Class B [Member]
Number of restricted shares of common stock, shares2,000,000
Number of restricted shares of common stock | $ $ 5,000,000
Share price | $ / shares $ 5
Purchase and Sale Agreement [Member] | Common Class B [Member] | Shares Kept By Company [Member]
Number of restricted shares of common stock, shares1,000,000
Purchase and Sale Agreement [Member] | Common Class B [Member] | Maybe Distributed as Dividend [Member]
Number of restricted shares of common stock, shares1,000,000
Purchase and Sale Agreement [Member] | Seller [Member]
Number of restricted shares of common stock, shares2,000,000
Purchase and Sale Agreement [Member] | Designees [Member]
Number of restricted shares of common stock, shares2,444,444
Purchase and Sale Agreement [Member] | Millennium Sapphire [Member] | Common Class A [Member] | Millennium Fine Art Inc [Member]
Acquired percentage96.00%
Number of restricted shares of common stock, shares19,200,000
Ownership interest100.00%
Number of restricted shares of common stock | $ $ 96,000,000
Share price | $ / shares $ 5

Operating Leases (Details Narra

Operating Leases (Details Narrative) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Lease term descriptionThe Company does not have any other leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet.
Lease expenses $ 73,652 $ 99,394 $ 245,682 $ 298,637
Total operating lease right-of-use assets and liabilities $ 159,000 $ 159,000
Minimum [Member]
Remaining operating lease terms6 months6 months
Maximum [Member]
Remaining operating lease terms7 months7 months

Operating Leases - Schedule of

Operating Leases - Schedule of Components of Lease Expense and Supplemental Cash Flow Information (Details)9 Months Ended
Sep. 30, 2020USD ($)
Leases [Abstract]
Operating lease cost (included in general and administrative expenses in the Company's unaudited condensed statement of operations) $ 245,682
Cash paid for amounts included in the measurement of lease liabilities for the six months ended June 30, 2020 $ 195,363
Weighted average remaining lease term - operating leases (in years)6 months 29 days
Average discount rate - operating leases4.00%

Operating Leases - Schedule o_2

Operating Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($)Sep. 30, 2020Dec. 31, 2019
Leases [Abstract]
Long-term right-of-use assets $ 148,296 $ 506,924
Short-term operating lease liabilities151,521 318,914
Long-term operating lease liabilities $ 192,778
Total operating lease liabilities $ 151,521

Operating Leases - Schedule o_3

Operating Leases - Schedule of Maturities of Lease Liabilities (Details)Sep. 30, 2020USD ($)
Leases [Abstract]
2020 (remaining 6 months) $ 65,806
202187,742
Total lease payments153,548
Less: Imputed interest/present value discount(2,027)
Present value of lease liabilities $ 151,521

Derivative Liabilities (Details

Derivative Liabilities (Details Narrative) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Number of warrants exercisable into common stock53,556 53,556
Derivative liabilities $ 56,694 $ 56,694 $ 28,545
Increase in fair value of derivatives $ 11,804 $ 8,221 $ (28,149) $ 192,785

Derivative Liabilities - Schedu

Derivative Liabilities - Schedule of Derivative Liabilities at Fair Value (Details)9 Months Ended12 Months Ended
Sep. 30, 2020USD ($)Dec. 31, 2019USD ($)
Fair Value of warrants $ 56,694 $ 28,545
Risk Free Interest Rate [Member]
Fair value assumptions, measurement input, percentages1.5 2.4
Expected Volatility [Member]
Fair value assumptions, measurement input, percentages182 173
Contractual Life (in Years) [Member]
Fair value assumptions, measurement input, term2 years 8 months 12 days3 years 4 months 24 days
Expected Dividend Yield [Member]
Fair value assumptions, measurement input, percentages0 0

Warrants (Details Narrative)

Warrants (Details Narrative) - USD ($)12 Months Ended
Dec. 31, 2018Sep. 30, 2020
Warrants and Rights Note Disclosure [Abstract]
Number of warrants exercisable into common shares53,556
Exercise price of warrants $ 7.20
Warrant expiration dateExpire in 2023
Intrinsic value of outstanding warrant $ 0

Warrants - Summary of Warrants

Warrants - Summary of Warrants Activity (Details)9 Months Ended
Sep. 30, 2020$ / sharesshares
Warrants and Rights Note Disclosure [Abstract]
Number of Shares Warrants, Outstanding Beginning Balance | shares53,556
Number of Shares Warrants, Granted | shares
Number of Shares Warrants, Exercised | shares
Number of Shares Warrants, Expired | shares
Number of Shares Warrants, Outstanding Ending Balance | shares53,556
Number of Shares Warrants, Outstanding and Exercisable, Ending Balance | shares53,556
Exercise Price, Outstanding, Beginning Balance | $ / shares $ 7.20
Exercise Price, Granted | $ / shares
Exercise Price, Exercised | $ / shares
Exercise Price, Expired | $ / shares
Exercise Price, Outstanding, Ending Balance | $ / shares7.20
Exercise Price, Outstanding and Exercisable, Ending Balance | $ / shares $ 7.20
Remaining Contractual Life (in Years) Outstanding, Beginning Balance0 years
Remaining Contractual Life (in Years), Granted0 years
Remaining Contractual Life (in Years), Exercised0 years
Remaining Contractual Life (in Years), Expired0 years
Remaining Contractual Life (in Years) Outstanding, Ending Balance2 years 8 months 12 days
Remaining Contractual Life (in Years), Outstanding and Exercisable, Ending Balance2 years 8 months 12 days

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)Jun. 16, 2018Dec. 31, 2018Dec. 31, 2018Dec. 31, 2018Sep. 30, 2020
Loan amount $ 300,000 $ 300,000 $ 300,000
Impairment loss $ 77,088
Related Party B [Member] | Minimum [Member]
Ownership percentage4.00%
Related Party B [Member] | Maximum [Member]
Ownership percentage13.00%
Related Party E [Member] | Managing Director [Member]
Payments of debt $ 222,912
Related Party E [Member] | Loan Agreement [Member]
Due from related party $ 300,000
Debt instrument, interest rate6.00%
Debt instrument, maturity dateJun. 15,
2020
Related Party H [Member]
Ownership percentage49.00%49.00%49.00%
Total consideration on acquisition $ 368,265
Impairment of other investments $ 368,265

Related Party Transactions - Sc

Related Party Transactions - Schedule of Amounts Due from Related Parties (Details) - USD ($)Sep. 30, 2020Dec. 31, 2019
Due from related parties $ 62,391 $ 61,623
Accounts Receivable, Net [Member] | Related Party B [Member]
Due from related parties7,223
Accounts Receivable, Net [Member] | Related Party G [Member]
Due from related parties
Prepaids and Other Current Assets [Member] | Related Party G [Member]
Due from related parties2,391 1,623
Prepaids and Other Current Assets [Member] | Related Party H [Member]
Due from related parties $ 60,000 $ 60,000

Related Party Transactions - _2

Related Party Transactions - Schedule of Amounts Due from Related Parties (Details) (Parenthetical) - USD ($)Sep. 30, 2020Dec. 31, 2019
Due from related parties, accounts receivable $ 7,223 $ 0
Related Party B [Member]
Due from related parties, accounts receivable $ 380

Related Party Transactions - _3

Related Party Transactions - Schedule of Due to Related Parties (Details) - USD ($)Sep. 30, 2020Dec. 31, 2019
Total $ 1,255,291 $ 1,009,760
Related Party A [Member]
Total2,920 1,113
Related Party B [Member]
Total30,107 35
Related Party D [Member]
Total 25
Related Party E [Member]
Total 2,167
Related Party J [Member]
Total741,045 779,561
Related Party K [Member]
Total $ 481,219 $ 226,859

Related Party Transactions - _4

Related Party Transactions - Schedule of Related Parties Transactions (Details) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Service Revenue [Member]
Revenue from related parties $ 73,446 $ 430,069 $ 181,417 $ 1,743,533
Cost of Service Revenue [Member]
Revenue from related parties2,514 184,000
General and Administrative Expenses [Member]
Revenue from related parties8,320 155,138
Other Income [Member]
Revenue from related parties 9,798
Related Party A [Member] | Service Revenue [Member]
Revenue from related parties43,229 211,624
Related Party A [Member] | General and Administrative Expenses [Member]
Revenue from related parties4,234
Related Party B [Member] | Service Revenue [Member]
Revenue from related parties108,297 804,867
Related Party B [Member] | Cost of Service Revenue [Member]
Revenue from related parties2,514
Related Party B [Member] | General and Administrative Expenses [Member]
Revenue from related parties2,900
Related Party C [Member] | Service Revenue [Member]
Revenue from related parties1,162 385
Related Party D [Member] | Service Revenue [Member]
Revenue from related parties14,366 712,710
Related Party D [Member] | Cost of Service Revenue [Member]
Revenue from related parties 184,000
Related Party D [Member] | General and Administrative Expenses [Member]
Revenue from related parties 155,138
Related Party D [Member] | Other Income [Member]
Revenue from related parties 1,610
Related Party E [Member] | Service Revenue [Member]
Revenue from related parties14,251 11,193
Related Party E [Member] | Other Income [Member]
Revenue from related parties 8,188
Related Party G [Member] | Service Revenue [Member]
Revenue from related parties112 2,754
Related Party G [Member] | General and Administrative Expenses [Member]
Revenue from related parties $ 1,186

Deconsolidation of Controllin_2

Deconsolidation of Controlling Interest in Subsidiaries (Details Narrative) - USD ($)Aug. 17, 2020May 20, 2020Feb. 29, 2020Sep. 30, 2020Dec. 31, 2019Sep. 30, 2019
Assets $ 11,446,815 $ 8,884,453 $ 8,647,683
Net deficit(14,424,532)(13,160,629)
Non-controlling interest $ 222,555 $ 186,685
Yabez [Member]
Percentage on sale of ownership interest60.00%
Sale to unrelated party $ 1
Assets167,017
Cash24,887
Trade accounts receivable129,792
Other assets12,338
Trade accounts payable173,680
Net deficit(6,663)
Non-controlling interest(7,446)
Basis783
Loss on disposal $ 727
Greenpro Venture Cap (Qianhai) Limited [Member]
Percentage on sale of ownership interest2.00%2.00%
Sale to unrelated party $ 4
Cash $ 129
Loss on disposal $ 125
Number of shares issued196
Number of shares issued, value $ 196

Segment Information (Details Na

Segment Information (Details Narrative)9 Months Ended
Sep. 30, 2020Integer
Segment Reporting [Abstract]
Number of reportable operating segments2

Segment Information - Schedule

Segment Information - Schedule of Summarized Financial Information (Details) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Dec. 31, 2019
Revenues $ 678,917 $ 1,152,326 $ 1,896,598 $ 3,316,088
Cost of revenues503,487 1,165,992
Depreciation and amortization193,510 184,227
Net income (loss)(429,749)(211,147)(1,235,479)(838,264)
Total assets11,446,815 8,647,683 11,446,815 8,647,683 $ 8,884,453
Capital expenditures for long-lived assets2,106 1,035
Hong Kong [Member]
Revenues[1]1,418,172 2,470,476
Cost of revenues364,171 944,006
Depreciation and amortization[1]78,947 67,729
Net income (loss)[1](783,123)(629,922)
Total assets[1]7,518,850 4,371,510 7,518,850 4,371,510
Capital expenditures for long-lived assets[1]
Malaysia [Member]
Revenues133,107 148,603 364,361 [1]392,602 [1]
Cost of revenues138,316 162,119
Depreciation and amortization[1]25,412 26,200
Net income (loss)[1](68,705)48,744
Total assets[1]931,238 1,168,208 931,238 1,168,208
Capital expenditures for long-lived assets[1]2,106
China [Member]
Revenues39,111 374,150 114,065 [1]453,010 [1]
Cost of revenues1,000 59,867
Depreciation and amortization[1]89,151 90,298
Net income (loss)[1](383,651)(257,086)
Total assets[1]2,996,727 3,107,965 2,996,727 3,107,965
Capital expenditures for long-lived assets[1] 1,035
Real Estate Business [Member]
Revenues344,815 71,462
Cost of revenues250,800 34,989
Depreciation and amortization113,553 24,303
Net income (loss)71,060 (54,277)
Total assets2,407,537 2,582,631 2,407,537 2,582,631
Capital expenditures for long-lived assets
Service Business [Member]
Revenues1,551,783 3,244,626
Cost of revenues252,687 1,002,753
Depreciation and amortization72,366 147,419
Net income (loss)(853,822)(384,585)
Total assets4,938,386 5,928,187 4,938,386 5,928,187
Capital expenditures for long-lived assets2,106 1,035
Corporate [Member]
Revenues
Cost of revenues 128,250
Depreciation and amortization7,591 12,505
Net income (loss)(452,717)(399,402)
Total assets $ 4,100,892 $ 136,865 4,100,892 136,865
Capital expenditures for long-lived assets
[1]Revenues and costs are attributed to countries based on the location where the entities operate.

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)Nov. 12, 2020Nov. 02, 2020Oct. 19, 2020Oct. 13, 2020Oct. 09, 2020Sep. 24, 2020Jul. 08, 2020Sep. 30, 2020Sep. 30, 2019Dec. 31, 2018
Number of shares issued for acquisition, values $ 41,290
Debt instrument face amount $ 300,000
Subsequent Event [Member] | Acquisition Agreement [Member] | Ms. Lee Yuet Lye and Mr. Chia Min Kiat [Member]
Equity, acquire percentage18.00%
Shares issued price per share $ 1.596
Consideration derived from acquisition $ 2,284,000
Subsequent Event [Member] | Subscription Agreement [Member] | Investors [Member]
Shares issued price per share $ 1.10
Number of shares issued during the period for private placement, shares195,455
Number of shares issued during the period for private placement, value $ 215,000
Subsequent Event [Member] | Securities Purchase Agreement [Member] | FirstFire or Investors [Member]
Debt instrument face amount $ 560,000
Conversion price per share $ 1
Original issue discount $ 50,000
Broker’s fee40,000
Legal expenses5,000
Administrative fee5,000
Proceeds from the convertible debt $ 460,000
Redemption descriptionThe note may be redeemed by the Investor at any time after the six-month anniversary of the issuance date of the note subject to the maximum monthly redemption amount of $108,000, convertible into shares of common stock at a conversion price equal to the lesser of (i) $1.00 and (ii) 75% of the average of the lowest VWAP during the ten trading days immediately preceding the measurement date. Pursuant to the securities purchase agreement, the Investor was granted a “most favored nations” right.
Event default descriptionEvents of Default (“Events of Default”) under the note include but are not limited to: (a) failure to pay any principal, interest, fees, charges, or any other amount when due; (b) failure to deliver any conversion shares in accordance with the terms of the note; (c) a receiver, trustee or other similar official shall be appointed over Company or a material part of its assets and such appointment shall remain uncontested for twenty (20) days or shall not be dismissed or discharged within sixty (60) days; (d) Company becomes insolvent; (e) Company makes a general assignment for the benefit of creditors; (f) Company files a petition for relief under any bankruptcy, insolvency or similar law (domestic or foreign); an involuntary bankruptcy proceeding is commenced or filed against Borrower; (g) Company defaults or otherwise fails to observe or perform any covenant, obligation, condition or agreement of Company in the note or in any other transaction document; (h) any representation, warranty or other statement made or furnished by or on behalf of Company is false, incorrect, incomplete or misleading in any material respect when made or furnished; (i) the occurrence of a Fundamental Transaction (as defined in the note) without the Investor’s prior written consent; (j) Company fails to reserve a sufficient number of shares to issue upon conversion of the note; (k) Company effectuates a reverse split of its common stock without twenty trading days prior written notice to the Investor; (l) any money judgment, writ or similar process is entered or filed against the Company or any subsidiary of the Company or any of its property or other assets for more than $100,000, and shall remain unvacated, unbonded or unstayed for a period of twenty calendar days unless otherwise consented to by the Investor; (m) the Company fails to be DWAC eligible; (n) the Company fails to observe or perform any covenant set forth in Section 4 of the securities purchase agreement; or (o) the Company, any affiliate of the Company, or any pledgor, trustor, or guarantor of the note breaches any covenant or other term or condition contained in any other financing or material agreements. In the case of an Event of Default, interest shall accrue under the note at the annual rate of 22%. Certain Major Defaults (as defined in the note) will result in an additional 15% of the aggregate principal amount of the note outstanding at such time being added to the total outstanding amount of such note. The number of shares of common stock that may be issued upon conversion of this note and the other notes disclosed herein shall not exceed the requirement of Nasdaq Listing Rule 5635(d).
Subsequent Event [Member] | Securities Purchase Agreement [Member] | Streeterville or Investors [Member]
Debt instrument face amount $ 670,000
Conversion price per share $ 1
Original issue discount $ 60,000
Broker’s fee50,000
Legal expenses10,000
Proceeds from the convertible debt $ 550,000
Redemption descriptionThe note may be redeemed by the Investor at any time after the six-month anniversary of the issuance date of the note subject to the maximum monthly redemption amount of $108,000, convertible into shares of common stock at a conversion price equal to the lesser of (i) $1.00 and (ii) 75% of the average of the lowest VWAP during the ten trading days immediately preceding the measurement date. Pursuant to the securities purchase agreement, the Investor was granted a “most favored nations” right.
Event default descriptionEvents of Default under this note include the same Events of Default listed above under the description of the FirstFire convertible note financing. In the case of an Event of Default, interest shall accrue under the note at the annual rate of 22%. Certain Major Defaults (as defined in the note) will result in an additional 15% of the aggregate principal amount of the note outstanding at such time being added to the total outstanding amount of such note. The number of shares of common stock that may be issued upon conversion of this note and the other notes disclosed herein shall not exceed the requirement of Nasdaq Listing Rule 5635(d).
Subsequent Event [Member] | Securities Purchase Agreement [Member] | Granite or Investors [Member]
Debt instrument face amount $ 560,000
Conversion price per share $ 1
Original issue discount $ 50,000
Broker’s fee40,000
Legal expenses10,000
Proceeds from the convertible debt $ 460,000
Redemption descriptionThe note may be redeemed by the Investor at any time after the six-month anniversary of the issuance date of the note subject to the maximum monthly redemption amount of $108,000, convertible into shares of common stock at a conversion price equal to the lesser of (i) $1.00 and (ii) 75% of the average of the lowest VWAP during the ten trading days immediately preceding the measurement date. Pursuant to the securities purchase agreement, the Investor was granted a “most favored nations” right.
Event default descriptionEvents of Default under this note include the same Events of Default listed above under the description of the FirstFire convertible note financing. In the case of an Event of Default, interest shall accrue under the note at the annual rate of 22%. Certain Major Defaults (as defined in the note) will result in an additional 15% of the aggregate principal amount of the note outstanding at such time being added to the total outstanding amount of such note. The number of shares of common stock that may be issued upon conversion of this note and the other notes disclosed herein shall not exceed the requirement of Nasdaq Listing Rule 5635(d).
Restricted Stock [Member] | Subsequent Event [Member] | Acquisition Agreement [Member] | Ms. Lee Yuet Lye and Mr. Chia Min Kiat [Member]
Number of shares issued for acquisition, shares257,591
Number of shares issued for acquisition, values $ 411,120
Ata Plus Sdn., Bhd. [Member] | Acquisition Agreement [Member] | Eight Shareholders [Member]
Equity, acquire percentage15.00%
Aggregate purchase price of shares, values $ 750,000
Shares issued price per share $ 1.64
Ata Plus Sdn., Bhd. [Member] | Restricted Stock [Member] | Acquisition Agreement [Member] | Eight Shareholders [Member]
Number of shares issued for acquisition, shares457,312
DSwiss Inc [Member]
Number of restricted shares of common stock, shares11,840,684
DSwiss Inc [Member] | Subsequent Event [Member]
Dividend descriptionDividend was distributed to the Shareholders.
DSwiss Inc [Member] | Restricted Stock [Member]
Number of shares owned27,000,000
Restricted shares issued and outstanding206,904,600
Dividend descriptionThe Dividend is comprised of approximately one (1) share of DQWS common stock for every five (5) shares of the Company’s common stock issued and outstanding of the Record Date.
First Bullion Holdings Inc [Member] | Subsequent Event [Member] | Stock Purchase and Options Agreement [Member] | Tang Ka Siu Johnny [Member]
Aggregate purchase price of shares, values $ 1,000,000
First Bullion Holdings Inc [Member] | Subsequent Event [Member] | Stock Purchase and Options Agreement [Member] | Tang Ka Siu Johnny [Member] | Additional Issuance of Shares [Member]
Equity, acquire percentage8.00%
Aggregate purchase price of shares, values $ 20,000,000
First Bullion Holdings Inc [Member] | Restricted Stock [Member] | Subsequent Event [Member] | Stock Purchase and Options Agreement [Member] | Tang Ka Siu Johnny [Member]
Equity, acquire percentage10.00%
Number of shares issued for acquisition, shares685,871
First Bullion Holdings Inc [Member] | Restricted Stock [Member] | Subsequent Event [Member] | Stock Purchase and Options Agreement [Member] | Tang Ka Siu Johnny [Member] | Additional Issuance of Shares [Member]
Number of shares issued for acquisition, shares250,000