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Variable Interest Entity (Tables)

6 Months Ended

Jun. 30, 2023

Variable Interest Entity [Abstract]

Schedule of Carrying Amount of the VIE’s Assets and Liabilities

The carrying amount of the VIE’s assets and liabilities are as follows:

		June 30,				December 31,
		2023				2022
Cash and cash equivalents			62,615				215,880
Accounts receivable, net			68,077				194,520
Other receivables, net			78,684				78,293
Prepayments			303				-
Total current assets		$	209,679			$	488,693
Plants and equipment			478				502
Other non-current assets			-				-
Total assets			210,157				489,195
Current liabilities			111,110				333,784
Non-current liabilities			-				-
Total liabilities			111,110				333,784
Net assets		$	99,047			$	155,411

		June 30,				December 31,
		2023				2022
Accounts payable		$	179			$	116,105
Other payables and accrued liabilities			1,739				13,469
Other payables – related party			35,188				-
Tax payables			269				195,732
Customer Advances			68,953				8,478
Wages payable			4,782				-
Total current liabilities			111,110				333,784
Lease liabilities – non-current			-				-
Total liabilities		$	111,110			$	333,784

Schedule of Summarized Operating Results of the VIE’s

The summarized operating results of the VIE’s are as follows:

		For the six months ended June 30,
		2023
Operating revenues		$	206,799
Gross profit			184,611
Income from operations			(177,496	)
Net loss		$	(176,807	)

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Schedule of Variable Interest Entity Operating Result [Table Text Block]

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Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-5A

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-9

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-4

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-6

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