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PREPAYMENTS | 3 Months Ended
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Mar. 31, 2022
PREPAYMENTS |
NOTE 9 - PREPAYMENTS | NOTE 9 – PREPAYMENTS As of March 31, 2022, prepayments consist of the following:
|  | March 31, 202 2 |  |  | December 31, 202 1 |
Office furniture and renovation |  | $ | 1,124,480 |  |  | $ | 1,895,591 |
Office rental |  |  | 28,658 |  |  |  | 173,611 |
Ycloud system marketing and promotion service |  |  | 2,319,258 |  |  |  | - |
Block chain software and others |  |  | 616,052 |  |  |  | 691,456 |
|  | $ | 4,088,448 |  |  | $ | 2,760,658 |
As of March 31, 2022, there is a prepayment of approximate $1.1 million in relation of purchasing new office furniture as a result of new office renovation during the year, the renovation is expected to complete in April 2022. As of March 31, 2022, there is a prepayment of approximate $2.3 million and approximate $60,000 in relation of marketing & promotion services and block chain software development under YCloud system, which is expect to complete in February 2023 and June 2022 respectively.

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