XML 26 R12.htm IDEA: XBRL DOCUMENT v3.23.1
Cessation of the Mobile Application part of business and the consequential effects on the Balance Sheet
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Cessation of the Mobile Application part of business and the consequential effects on the Balance Sheet

 

6. Cessation of the Mobile Application part of business and the consequential effects on the Balance Sheet

 

As indicated in Note 1, certain subsidiaries of the Company ceased its business associated with the mobile application for merchant transactions and related payments in the year ended September 30, 2018. As a result, all the related business assets as of September 30, 2018 have been fully provided for in these financial statements. There have been no movements in these assets since and the fully written down value of the assets remain unchanged. These assets are:

 

  (a) Prepayments, deposits and other receivables:

 

  

December 31,

2021

      December 31,
2020		    September 30,
2020		   

September 30,

2019

  
                           
Prepayments to suppliers  $567,934    $ 567,934   $567,934      $ 567,934  
Rental and other deposits   341,674      341,674     341,674        341,674  
Employee advances and others   32,240      32,240     32,240        32,240  
Sub total   941,848      941,848     941,848       

941,848

  
Less: allowance for doubtful debts   (941,848)     (941,848 )   (941,848)       (941,848 )
Prepayments, deposits and other receivable, net  $-    $

-

    $-      $ -  

 

  (b) Property and equipment, net

 

  

December 31,

2021

    December 31,
2020		    September 30,
2020		   

September 30,

2019

  
                         
Electronic equipment  $2,319,545    $ 2,319,545    $2,319,545    $ 2,319,545  
Furniture and fixtures   70,596      70,596     70,596      70,596  
Leasehold improvements   263,609      263,609     263,609      263,609  
Total property and equipment   2,653,750      2,653,750     2,653,750      2,653,750  
Less: Accumulated depreciation and amortization   (2,653,750)     (2,653,750 )   (2,653,750)     (2,653,750 )
Total property and equipment, net  $-    $ -    $-    $ -  

 

 

MOXIAN (BVI) INC

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

 

  (c) Intangible assets, net

 

   December 31,
2021		     December 31,
2020		     September 30,
2020		   

September 30,

2019

  
                         
IP rights  $1,410,335   $ 1,410,335     $1,410,355    $ 1,410,355  
Other intangible assets   394,883     394,883      394,883      394,883  
Finite lived intangible assets gross   1,805,218     1,805,218     $1,805,218    $

1,805,218

  
Less: accumulated amortization   (1,805,218)    (1,805,218 )    (1,805,218)     (1,805,218 )
Net intangible assets  $-   $ -     $-    $ -