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ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

3 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

NOTE 8— ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following:

SCHEDULE OF ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

		March 31, 2023				December 31, 2022
Advance from customers		$	525,782			$	397,886
Accrued payroll and employee benefits			89,054				89,359
Accrued interest expenses			148,592				122,135
Accrued underwriter fees (i)			1,200,000				-
Other tax payables (ii)			-				261
Other payable to a former shareholder (iii)			-				191,180
Others (iv)			161,329				153,803
Accrued expenses and other current liabilities		$	2,124,757			$	944,624

(i) On March 18, 2023, the Company entered into a private placement consent agreement with representatives related to the private placement consummated on January 19, 2023 (see Note 10) on the underwriting fees of US$1.2 million, payable only on the completion of the underwriting offering.

(ii) Other tax payables are mainly value added tax payable.

(iii) Other payable to a former shareholder was paid in March 2023.

(iv) Others mainly represent accrued employee reimbursement payable and other accrued miscellaneous operating expenses.

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- Definition

The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period.

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