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LOAN AND INTEREST RECEIVABLE - RELATED PARTY
9 Months Ended
Sep. 30, 2022
LOAN AND INTEREST RECEIVABLE - RELATED PARTY  
LOAN AND INTEREST RECEIVABLE - RELATED PARTY

NOTE 13  – LOAN AND INTEREST RECEIVABLE — RELATED PARTY

In February 2021, the Company lent $200,000 to a wholly owned subsidiary of Suzhou Snail, the loan bears 2.0% per annum interest, interest and principal are due in February 2022. In February 2022, Suzhou Snail signed an agreement with this subsidiary and assumed loan and related interest for a total of $203,890. Subsequently, $103,890 was offset against the loan and interest payable owed to Suzhou Snail on a separate note. Please refer to Note 14 — Loan Payable and Interest Payable — Related Parties. The total amount of loan and interest receivable — related parties was $101,249 and $203,408, as of September 30, 2022 and December 31, 2021, respectively.