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Property and Equipment, Net | 12 Months Ended
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Dec. 31, 2019
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | NOTE 4 – PROPERTY AND EQUIPMENT, NET
|  | As of |  |  | As of |
|  | December 31, 2019 |  |  | December 31, 2018 |
Office leasehold |  | $ | 2,985,125 |  |  | $ | 3,021,884 |
Furniture and fixtures |  |  | 52,196 |  |  |  | 56,025 |
Office equipment |  |  | 53,164 |  |  |  | 47,751 |
Leasehold improvement |  |  | 69,964 |  |  |  | 70,344 |
|  |  | 3,160,449 |  |  |  | 3,196,004 |
Less: Accumulated depreciation and amortization |  |  | (329,340 | ) |  |  | (197,491 | )
Total |  | $ | 2,831,109 |  |  | $ | 2,998,513 |
Office leasehold 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 years land lease with a remaining term of 25 years and is being amortized over the remaining lease term. Depreciation and amortization expense, classified as operating expenses, were $138,194 and $143,359 for the years ended December 31, 2019 and 2018, respectively. At December 31, 2019, the Company’s office leasehold was pledged to banks as security collateral for a loan of $1,034,037 (see Note 11).

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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