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PREPAYMENTS
 12 Months Ended
Dec. 31, 2021
PREPAYMENTS  
Prepayments

NOTE 11 – PREPAYMENTS

 

As of December 31, 2021, prepayments consist of the following:

 

 

 

December 31,

2021

 

 

December 31,

2020

 

Office furniture and renovation

 

$1,895,591

 

 

$-

 

Office Rental

 

 

173,611

 

 

 

-

 

Block chain software and annual fee

 

 

630,291

 

 

 

-

 

Software licenses fee

 

 

61,165

 

 

 

61,707

 

 

 

 

 

 

 

 

 

 

 

 

$2,760,658

 

 

$61,707

 

 

As of 31 December 2021, there is a prepayment of approximate $1.9 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 31 December 2021, there is a prepayment of $630,291 in relation of block chain software development under YCloud system, which is expect to complete in June 2022.