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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2022

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of consolidated subsidiaries

		Place of		*Attributable* *equity*
Name of Company		incorporation		interest %
Utour Pte Ltd		Singapore			100	%

WeTrade Information Technology Limited (“WITL”)		Hong Kong			100	%

Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)		P.R.C.			100	%
Yueshang Group Network (Hunan) Co., Limited (“Yueshang Hunan”)		P.R.C			100	%
Yueshang Technology Group (Hainan Special Economic Zone) Co. Limited (“Yueshang Hainan”)		P.R.C			100	%
WeTrade Digital (Beijing) Technology Co Limited (f/k/a XiaoShang Technology Beijing Co Limited)		P.R.C			100	%
Tibet Xiaoshang Technology Group Limited		P.R.C			100	%

Schedule of investment holding company

		Place of		Nature of
Name of Company		incorporation		operation
Utour Pte Ltd		Singapore		Investment holding company

WeTrade Information Technology Limited (“WITL”)		Hong Kong		Investment holding company

Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”)		P.R.C.		Providing of social e-commerce services, technical system support and services
Yueshang Group Network (Hunan) Co., Limited (“Yueshang Hunan”)		P.R.C		Providing of social e-commerce services, technical system support and services
Yueshang Technology Group (Hainan Special Economic Zone) Co. Limited (“Yueshang Hainan”)		P.R.C		Providing of social e-commerce services, technical system support and services
WeTrade Digital (Beijing) Technology Co Limited (FKA: XiaoShang Technology Beijing Co Limited)		P.R.C		Providing of social e-commerce services, technical system support and services
Tibet Xiaoshang Technology Group Limited		P.R.C		Providing of social e-commerce services, technical system support and services.

Schedule of exchange rate

June 30,

2022

December 31,

2021

RMB: US$ exchange rate

6.7

6.36

Property and equipment

Office equipment		3 years
Leasehold improvements		5 years

Schedule lease terms and discount rate

Lease cost		In USD
Operating lease cost (included in general and admin in company’s statement of operations)		$	343,937

Other information
Cash paid for amounts included in the measurement of lease liabilities for the six months ended 6/30/2022			358,988
Weighted average remaining lease term-operating leases (in years)			3.17
Average discount rate - operating leases			5	%

The supplemental balance sheet information related to leases for the period is as follows:
Operating leases
Long -term right-of-use assets			1,932,561
Total right-of-use assets		$	1,932,561

Short-term operating lease liabilities			601,939
Long-term operating lease liabilities			1,503,804
Total operating lease liabilities		$	2,105,743

Maturities of the Company’s lease liabilities are as follows:

Year ending June 30,
2023			694,833
2024			738,013
2025			781,476
2026			71,402
Total lease payments			2,285,725
Less: Imputed interest/present value discount			(179,982	)
Present value of lease liabilities		$	2,105,743

Schedule of potentially diluted shares

		For the period June 30, 2022				For the period June 30, 2021
Statement of Operations Summary Information:
Net Profit		$	118,218				2,494,114
Weighted-average common shares outstanding - basic and diluted			294,361,978				305,451,498
Net profit per share, basic and diluted		$	0.00				0.00