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Related Party Transaction | 3 Months Ended
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Mar. 31, 2022
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTION | 19. RELATED PARTY TRANSACTION As of March 31, 2022, the amounts due to the related parties were consisted of the followings:
Name |  | Amount (US$) |  |  | Relationship |  | Note
Shaanxi Chunlv Ecological Agriculture Co. Ltd. (Chunlv) |  | $ | 258,994 |  |  | Shaanxi Fu Chen Venture Capital Management Co. Ltd. (“Fu Chen”) holds 80% interest of Chunlv; Two outside shareholders of the Company are shareholders of Fu Chen. |  | Accrued expenses, interest free and payment on demand.
Kai Xu |  |  | 25,994 |  |  | Deputy General Manager of a subsidiary of the Company |  | Accrued expenses, interest free and payment on demand.
Zhi Yan |  |  | 280,983 |  |  | General Manager of a subsidiary of the Company |  | Accrued expenses, interest free and payment on demand.
Jing Chen |  |  | 25,005 |  |  | Vice president of the Company |  | Accrued expenses, interest free and payment on demand.
Future Supply Chain Co., Ltd. |  |  | 281,621 |  |  | Fu Chen holds 100% interest of this company |  | Accrued expenses, interest free and payment on demand.
Reits (Beijing) Technology Co., Ltd |  |  | 15,949 |  |  | Zhi Yan is the legal representative of this company |  | Acquisition of intangibles upon the full completion of the online platform pursuant to an agreement originally entered between parties before Zhi Yan became a related party. The amount is interest free and payment on demand.
Shaanxi Fuju Mining Co., Ltd |  |  | 3,308 |  |  | Fu Chen holds 80% interest of the company |  | Accrued expenses, interest free and payment on demand.
Total |  | $ | 891,854 |  |  |  |  |
As of March 31, 2022, the amounts due from the related parties were consisted of the followings:
Name |  | Amount (US$) |  |  | Relationship |  | Note
Bin Wu |  |  | 186 |  |  | A shareholder of a Company’s subsidiary |  | Advance to pay for the incorporation costs of the establishment of the subsidiary in Dubai Amount is interest free and paument on demand.
OLA |  |  | 14,022 |  |  | Chief Executive Officer of a subsidiary of the Company and Chief Strategy Officer of the Company |  | Loan receivables, interest free and payment on demand.
Shaanxi Fu Chen Venture Capital Management Co. Ltd. (“Fu Chen”) |  |  | 230,090 |  |  | Two outside shareholders of the Company are shareholders of Fu Chen |  | Loan receivables, interest free and payment on demand.
Ming Yi |  |  | 60,000 |  |  | Chief Financial Officer of the Company |  | Prepaid expenses, interest free and payment on demand.
Total |  | $ | 304,298 |  |  |  |  |
As of December 31, 2021, the amounts due to the related parties were consisted of the followings:
Name |  | Amount (US$) |  |  | Relationship |  | Note
Zhi Yan |  | $ | 286,045 |  |  | General Manager of a subsidiary of the Company |  | Accrued expenses, interest free and payment on demand.
Jing Chen |  |  | 37,604 |  |  | Vice president of the Company |  | Accrued expenses, interest free and payment on demand.
Shaanxi Fu Chen Venture Capital Management Co. Ltd. (“Shaanxi Fu Chen”) |  |  | 72,046 |  |  | Two outside shareholders of the Company are shareholders of Shaanxi Fu Chen |  | Other payables, interest free and payment on demand.
Future Supply Chain Co., Ltd. |  |  | 280,571 |  |  | Shaanxi Fu Chen holds 100% interest of this company |  | Other payables, interest free and payment on demand.
Reits (Beijing) Technology Co., Ltd |  |  | 15,881 |  |  | Zhi Yan is the legal representative of this company |  | Acquisition of intangibles upon the full completion of the online platform pursuant to an agreement originally entered between parties before Zhi Yan became a related party. The amount is interest free and payment on demand.
Shaanxi Chunlv Ecological Agriculture Co. Ltd. |  |  | 257,876 |  |  | Shaanxi Fu Chen holds 80% interest of this company |  | Other payables, interest free and payment on demand.
Ming Yi |  |  | 8,942 |  |  | Chief Financial Officer of the Company |  | Accrued expenses, interest free and payment on demand.
OLA |  |  | 4,933 |  |  | Chief Executive Officer of a subsidiary of the Company and Chief Strategy Officer of the Company |  | Other payables, interest free and payment on demand.
Kai Xu |  |  | 25,509 |  |  | Deputy General Manager of a subsidiary of the Company |  | Accrued expenses, interest free and payment on demand.
Shaanxi Fuju Mining Co., Ltd |  |  | 3,295 |  |  | Shaanxi Fu Chen holds 80% interest of this company |  | Other payables, interest free and payment on demand.
Total |  | $ | 992,702 |  |  |  |  |
As of December 31, 2021, the amounts due from the related parties were consisted of the followings:
Name |  | Amount (US$) |  |  | Relationship |  | Note
Shaanxi Fu Chen Venture Capital Management Co. Ltd. (“Shaanxi Fu Chen”) |  |  | 235,268 |  |  | Two outside shareholders of the Company are shareholders of Shaanxi Fu Chen |  | Loan receivables, interest free and payment on demand.
Bin Wu |  |  | 26,145 |  |  | A shareholder of a Company’s subsidiary |  | Advance to pay for the incorporation costs of the establishment of the subsidiary in Dubai Amount is interest free and payment on demand.
Total |  | $ | 261,413 |  |  |  |  |
* | The related party transactions have been approved by the Company’s Audit Committee.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI https://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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