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Notes Payable
9 Months Ended
Sep. 30, 2021
Notes Payable [Abstract]  
NOTES PAYABLE

10. NOTES PAYABLE

 

In January, 2019, BioLite Taiwan entered an unsecured loan agreement with one individual bearing interest at fixed rates at 12% per annum of NT$3,000,000, equivalent to $106,800, for working capital purpose. On September 11, 2021 the outstanding balance has been repaid in full. As of September 30, 2021 and December 31, 2020, the balance due to this individual amounted to $0 and $106,800, respectively. Interest expense was $2,142 and $3,014 for the three months ended September 30, 2021 and 2020, respectively. Interest expense was $8,568 and $6,002 for the nine months ended September 30, 2021 and 2020, respectively.