Deconsolidation of Controlling Interest in Subsidiaries	6 Months Ended
Jun. 30, 2020
Property and equipment
Deconsolidation of Controlling Interest in Subsidiaries	NOTE 8 - DECONSOLIDATION OF CONTROLLING INTEREST IN SUBSIDIARIES On February 29, 2020, the Company sold its entire 60% interest in Yabez (Hong Kong) Limited and Yabez Business Service (SZ) Company Limited (collectively, “Yabez”) to an unrelated party for $1. The transaction closed on February 29, 2020, and Yabez was deconsolidated following the closing. At February 29, 2020, Yabez’s assets totaled $167,017, and consisted of cash of $24,887, trade accounts receivable of $129,792, and other assets of $12,338. At February 29, 2020, Yabez’s liabilities consisted of trade accounts payables of $173,680. At February 29, 2020, Yabez’s net deficit was ($6,663), of which the non-controlling interest was ($7,446) and the Company’s basis was $783, resulting in a loss on disposal of $727, after consideration of foreign currency adjustments. On May 20, 2020, Greenpro Venture Cap (Qianhai) Limited, a wholly owned subsidiary of the Company, allotted an additional 196 shares to Mr. Yip Hoi Hing Peter, a director of certain controlled subsidiaries of the Company (“Mr. Yip”), at the price of $196. As a result, the Company holds a 2% interest in GVCQH, and GVCQH’s sole asset, cash of $129 was disposed and a loss on disposal of $125 was recorded.

Deconsolidation of Controlling Interest in Subsidiaries

6 Months Ended

Jun. 30, 2020

Deconsolidation of Controlling Interest in Subsidiaries

NOTE 8 - DECONSOLIDATION OF CONTROLLING INTEREST IN SUBSIDIARIES

On February 29, 2020, the Company sold its entire 60% interest in Yabez (Hong Kong) Limited and Yabez Business Service (SZ) Company Limited (collectively, “Yabez”) to an unrelated party for $1. The transaction closed on February 29, 2020, and Yabez was deconsolidated following the closing.

At February 29, 2020, Yabez’s assets totaled $167,017, and consisted of cash of $24,887, trade accounts receivable of $129,792, and other assets of $12,338. At February 29, 2020, Yabez’s liabilities consisted of trade accounts payables of $173,680. At February 29, 2020, Yabez’s net deficit was ($6,663), of which the non-controlling interest was ($7,446) and the Company’s basis was $783, resulting in a loss on disposal of $727, after consideration of foreign currency adjustments.

On May 20, 2020, Greenpro Venture Cap (Qianhai) Limited, a wholly owned subsidiary of the Company, allotted an additional 196 shares to Mr. Yip Hoi Hing Peter, a director of certain controlled subsidiaries of the Company (“Mr. Yip”), at the price of $196. As a result, the Company holds a 2% interest in GVCQH, and GVCQH’s sole asset, cash of $129 was disposed and a loss on disposal of $125 was recorded.