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CONVERTIBLE BONDS PAYABLE (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Schedule of convertible debt | At December 31, 2020 and 2019, convertible debt consisted of the following:
|  | December 31, |  |  | December 31, |
|  | 2020 |  |  | 2019 |
Principal |  | $ | 739,189 |  |  |  | - |
Unamortized discount |  |  | - |  |  |  | - |
Convertible dete, net |  | $ | 739,189 |  |  |  | - |
Schedule of assumption used | Warrant activities for the year ended December 31, 2020 are summarized as follows:
|  | 2020 |
Divident rate |  |  | - |
Term (in years) |  |  | 1.29 | years
Volatility |  |  | 98 | %
Risk – free interest rate |  |  | 15 | %
Schedule of warrant activities |
|  |  |  |  |  |  |  |  |  |  | Weighted
|  |  |  |  |  |  |  |  |  |  | Average
|  | Averagate |  |  |  |  |  | Weighted |  |  | Remaining
|  | Intrinsic |  |  | Number of |  |  | Average |  |  | Contractual
|  | Value |  |  | Warrants |  |  | Exercise Price |  |  | Term(Years)
Balance Outstanding December 31, 2019 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | -
Granted |  |  | 784,000 |  |  | $ | 1.25 |  |  |  | 1.29 |  |  |  | -
Cancelled |  |  | - |  |  |  | - |  |  |  | - |  |  |  | -
Balance Outstanding December 31, 2020 |  |  | 784,000 |  |  | $ | 1.25 |  |  |  | 1.29 |  |  |  | -

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- Definition Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components. + References No definition available. + Details
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- References No definition available. + Details
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- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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