XML 26 R15.htm IDEA: XBRL DOCUMENT v3.22.2.2
PREPAYMENTS
 6 Months Ended
Jun. 30, 2022
PREPAYMENTS  
PREPAYMENTS

NOTE 9 – PREPAYMENTS

 

As of June 30, 2022, prepayments consist of the following:

 

 

 

June 30,

2022

 

 

December 31,

2021

 

Office furniture and renovation

 

$1,049,135

 

 

$1,895,591

 

Office rental

 

 

-

 

 

 

173,611

 

YCloud system marketing and promotion service

 

 

3,058,696

 

 

 

-

 

Others

 

 

81,904

 

 

 

691,456

 

 

 

$4,189,735

 

 

$2,760,658

 

 

As of June 30, 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 has been completed in July 2022. 

 

As of June 30, 2022, there is a prepayment of approximate $2.3 million and approximate $0.6 million in relation of marketing & promotion services and block chain software development under YCloud system. Marketing and promotion services are expect to complete in February 2023 and the block chain software has been completed in July 2022 respectively.