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CASH AT BANK | 6 Months Ended
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Jun. 30, 2022
CASH AT BANK |
CASH AT BANK | NOTE 5 – CASH AT BANK As of June 30, 2022, the Company held cash in bank in the amount of $7,152,073, which consist of the following:
|  | June 30, 2022 |  |  | December 31, 2021 |
Bank Deposits-China |  | $ | 7,073,865 |  |  |  | 303,065 |
Bank Deposits-Singapore |  |  | 78,208 |  |  |  | 313,528 |
|  |  | 7,152,073 |  |  |  | 616,593 |

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- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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