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Goodwill
3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill

12. Goodwill

 

Balance as of January 1, 2021  $
-
 
Acquisition of Hitrans   1,606,518 
Foreign exchange adjustment   38,714 
Balance as of January 1, 2022   1,645,232 
Foreign exchange adjustment   5,397 
Balance as of March 31, 2022  $1,650,629 

 

The Company performed Goodwill impairment test at the reporting unit level on an annual basis and between annual tests when an event occurs or circumstances change indicating the asset might be impaired. No impairment loss of Goodwill of the reporting unit of Hitrans was recognized for the three months ended March 31, 2022 and 2021.