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Investment
 6 Months Ended
Jun. 30, 2024
Investment [Abstract]  
INVESTMENT

NOTE 9 – INVESTMENT

 

As of June 30, 2024, investment consists of the following:

 

   June 30,
2024		   December 31,
2023		 
         
Investment in an associate company  $13,396,600   $
           -
 

 

In April 2024, there are 3,940,000 shares issued with the total amount of $13,396,000 for the acquisition of 20% of associate company. The officers, directors and selling shareholders of associate company are not related party and independent with each other, which are not acting in concert with others.

 

Investment in associate company that we have significant influence but do not have control over the investee are accounted for under the equity method. We will periodically review the investment for impairment. The initial measurement and periodic subsequent adjustments of the investment are calculated by applying the ownership percentage to the net assets or equity of the partially owed entity under ASC 323.