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LOAN PAYABLE AND INTEREST PAYABLE - RELATED PARTIES | 3 Months Ended
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Mar. 31, 2023
LOAN PAYABLE AND INTEREST PAYABLE - RELATED PARTIES |
LOAN PAYABLE AND INTEREST PAYABLE - RELATED PARTIES | NOTE 14 – LOAN PAYABLE AND INTEREST PAYABLE — RELATED PARTIES The Company had a loan amount due to related parties of $400,000 bearing 2.00% per annum interest. $300,000 of the loan is from a wholly owned subsidiary of Suzhou Snail and due in June 2022, and $100,000 is from Suzhou Snail and due in December 2023. The $100,000 loan along with $3,890 interest payable to Suzhou Snail was offset by the loan receivable Suzhou Snail assumed in February 2022. Please refer to Note 13 — Loan and Interest Receivable — Related Party. In July 2022, the Company paid off the outstanding principal balance of $300,000. As of March 31, 2023 and December 31, 2022, the total loan payable — related parties amounted to $0 and total unpaid interest amounted to $527,770, as of March 31, 2023 and December 31, 2022. Interest expenses for the loans payable to related parties were $0 and $1,726 during the three months ended March 31, 2023 and 2022, respectively.

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- Definition The entire disclosure of loan and interest payable to related parties. + References No definition available. + Details
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