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Property and Equipment, Net

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

NOTE 3 – PROPERTY AND EQUIPMENT, NET

		As of				As of
		March 31, 2018				December 31, 2017
		(Unaudited)
Offices properties		$	3,312,313			$	3,194,858
Furniture and fixtures			47,155				46,890
Office equipment			43,816				43,076
Leasehold improvement			41,340				41,340
			3,444,634				3,326,164
Less: Accumulated depreciation and amortization			(96,240	)			(59,335	)
Total		$	3,348,384			$	3,266,829

Offices properties represents three adjoining office units used by the Company located in a commercial building in Shenzhen, China. The office leasehold is subject to a 50-year land lease with a remaining term of 27 years, and is being amortized over the remaining lease term. Depreciation and amortization expense, classified as operating expenses, was $36,288 and $3,203 for the three months ended March 31, 2018 and 2017, respectively.

At March 31, 2018, the Company’s office leasehold was pledged to banks as security collateral for loans of $1,398,362 (see Note 7).

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- References

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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