CASH AND CASH EQUIVALENTS	3 Months Ended
Mar. 31, 2022
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS	4. CASH AND CASH EQUIVALENTS As of March 31, 2022 and December 31, 2021 the Company has $2,441,891 and $2,597,848, respectively, of cash and cash equivalents, which consists of $850,435 and $554,864, respectively, of cash in banks and $1,582,151 and $1,975,347, respectively, of time deposits placed with banks or other financial institutions and are all highly liquid investments with an original maturity of three months or less. The effective interest rate for the time deposits was 1.10% per annum for the three months ended March 31, 2022. The effective interest rate for the time deposits was 1.5% per annum for the three months ended March 31, 2021.

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.

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

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