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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Dec. 31, 2021
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | NOTE－ 20 RELATED PARTY TRANSACTIONS From time to time, the shareholder and director of the Company advanced funds to the Company for working capital purpose. Those advances are unsecured, non-interest bearing and due on demand. During the years ended December 31, 2021 and 2020, the Company rendered the consultancy service with related parties for the issuance of 4,314 and 0 shares of Series C-1 preferred stock, at the price of $1,811,880 and $0, respectively. During the year ended December 31, 2021 and 2020, the Company issued 1,974,300 and 545,000 shares of Common stock, at the price of $9,141,601 and $473,503 for the stock based compensation to director and employee, respectively The Company paid and accrued to the directors, the total salaries of $755,914 and $6,818 and $1,202,730 and $0 during the years ended December 31, 2021 and 2020, respectively. The Company’s subsidiaries paid and accrued their two officers, total professional fee of $14,785 and $1,256 and $28,111 and $0 during the years ended December 31, 2021 and 2020, respectively. The Company paid total professional fee and accrued of $919,391 and 53,435 and $277,010 and $0 to its shareholders, during the years ended December 31, 2021 and 2020, respectively. During August and September 2021, the Company issued 3,300 shares of its Series X Super Voting Preferred Stock (the “Super Voting Preferred Stock”) to the founder and Chief Executive Officer, Mr. Dennis Nguyen and 200 shares of the Super Voting Preferred Stock to Chief Financial Officer, Mr. Raynauld Liang. In August 2021, the Company approved the conversion of inter-company loan of $1,249,999 due and owing by SOPA Technology PTE. LTD. (“STPL”), by exchange of 8,500 shares of STPL which represents 85% of the total issued and paid-up capital of STPL on a fully diluted basis. On September 30, 2021, the Company received the notifications that the outstanding amounts of $72,176 and $738,964 were forgiven by the related parties. Also, the Company served the notification to a related party that certain terms under call option agreement and side letter were no longer effective, in case of non-fulfillment with the milestone conditions as set out in the agreements, amounting to $75,000 cash consideration and $558,000 equity incentive. On June 30, 2021, Mr. Nguyen had $960,833 in accrued, but unpaid compensation which could be converted to shares by dividing that amount in the employment agreement, at the conversion price of $0.83 per share, with an aggregate of 1,157,630 shares. HOTTAB Asset Vietnam Co Ltd, a company limited by shares incorporated under the laws of Vietnam on April 17, 2015, is currently wholly-owned by Ngo Cham, an employee of HOTTAB Vietnam Co Ltd. HOTTAB Asset Vietnam Co Ltd manages the Group’s website and apps in Vietnam via a contractual relationship. All profits accrued by HOTTAB Asset Vietnam Co Ltd are paid as management fees to HOTTAB Vietnam Co Ltd. HOTTAB Vietnam Co Ltd has an irrevocable call option to acquire 100% of the equity of HOTTAB Asset Vietnam Co Ltd. On December 8, 2021, the Board of Directors approved a grant to Dennis Nguyen of with a 10-year options to purchase 1,945,270 shares options at an exercise price of $6.49 per share that will be exercisable at any time. As of December 31, 2021, the Company paid its directors remuneration in lieu of 8,556 shares of its common stocks amounting to $77,000 each to Tan Bien Kiat, Jeremy Miller, Linda Cutler, and John Mackay, approximately $9 per share. The Company issued 277,409 shares of its common stock to exchange for 10% shareholding of SOPA Technology Pte Ltd, under Asset Purchase Agreement (see Note 10). Upon the completion of share exchange transaction, the Company effectively owned 95% shareholding in SOPA Technology Pte Ltd as of December 31, 2021. Apart from the transactions and balances detailed elsewhere in these accompanying consolidated financial statements, the Company has no other significant or material related party transactions during the years presented.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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