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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash $ 2,654,185 $ 3,816,940
Restricted cash 78,461
Accounts receivable, net 95,691 921,235
Interest receivable - related party 4,825
Prepayments 12,248 104,307
Other receivables 97,911 36,706
Total current assets 2,860,035 4,962,474
NON-CURRENT ASSETS    
Property and equipment, net 210,330 236,166
Intangible assets, net 30,538 20,063
Operating lease right-of-use assets 522,278 623,236
Other non-current assets 40,376 36,809
Deferred offering costs 1,306,313
Deferred tax assets 118,159  
Total non-current assets 2,227,994 916,274
TOTAL ASSETS 5,088,029 5,878,748
CURRENT LIABILITIES    
Accounts payable 264,006 836,787
Accounts payable - related party 1,285
Operating lease liabilities - current 165,506 130,198
Advance from clients 187,630 587,396
Due to related parties 1,129,005 85,784
Taxes payable 37,919 508,149
Accruals and other payables 1,108,910 437,770
Total current liabilities 2,892,976 2,587,369
Operating lease liabilities - non-current 373,068 494,425
Total non-current liabilities 373,068 494,425
TOTAL LIABILITIES 3,266,044 3,081,794
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY    
Class A ordinary shares, $0.0001 par value, 300,000,000 shares authorized, 8,213,040 shares issued and outstanding as of December 31, 2022 and 2021* [1] 821 821
Class B ordinary shares, $0.0001 par value, 200,000,000 shares authorized, 3,786,960 shares issued and outstanding as of December 31, 2022 and 2021* [1] 379 379
Share subscription receivables [1] (1,200) (1,200)
Additional paid-in capital 114,726 114,726
Statutory reserve 282,545 282,545
Retained earnings 1,563,563 2,335,046
Accumulated other comprehensive (loss) income (138,849) 64,637
Total shareholders’ equity 1,821,985 2,796,954
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 5,088,029 $ 5,878,748
[1] Giving retroactive effect to the nominal issuance of shares effected on January 10, 2023 (Note 14)