Related Party Transactions	3 Months Ended
Mar. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS A member of the Company’s board of directors (“Board”) had previously advanced to the Company an aggregate amount of $1,354,567 as of March 31, 2022 and December 31, 2021 which is recorded as “Borrowings from related parties” on the accompanying condensed consolidated balance sheets. The advances bear interest at a rate of 1.0% per year. Total interest expense for each of the three months ended March 31, 2022 and 2021 was $3,386 and $3,386, respectively. Compensation and interest payable to the board member is included in “Other payables” in the accompanying condensed consolidated balance sheet totaling $338,414 and $327,033 as of March 31, 2022 and December 31, 2021, respectively. The Company repaid $236,206 of the advances during the three months ended March 31, 2022 from its Chairperson, Chief Executive Officer and Interim Chief Financial Officer. Total amounts owed were $1,202,872 and $1,183,414 and are recorded as “Borrowings from related parties” on the accompanying condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively. On July 8, 2019 the Company entered into a loan agreement in exchange for cash of RMB 4,770,000 ($738,379) with its Chairperson, Chief Executive Officer and Interim Chief Financial Officer. The loan bears interest at a rate of 4.35% and is payable within one year of the loan agreement. The due date of the loan agreement was extended to July 10, 2021 and further extended to July 9, 2022 on identical terms. Total interest expense related to the loan for the three months ended March 31, 2022 and 2021 was $7,669 and $7,510, respectively. Compensation payable to the Chairperson, Chief Executive Officer and Interim Chief Financial Officer is included in “Other payables” in the accompanying condensed consolidated balance sheet totaling $719,506 and $715,506 as of March 31, 2022 and December 31, 2021, respectively.

Related Party Transactions

3 Months Ended

Mar. 31, 2022

NOTE 6 – RELATED PARTY TRANSACTIONS

A member of the Company’s board of directors (“Board”) had previously advanced to the Company an aggregate amount of $1,354,567 as of March 31, 2022 and December 31, 2021 which is recorded as “Borrowings from related parties” on the accompanying condensed consolidated balance sheets. The advances bear interest at a rate of 1.0% per year. Total interest expense for each of the three months ended March 31, 2022 and 2021 was $3,386 and $3,386, respectively. Compensation and interest payable to the board member is included in “Other payables” in the accompanying condensed consolidated balance sheet totaling $338,414 and $327,033 as of March 31, 2022 and December 31, 2021, respectively.

The Company repaid $236,206 of the advances during the three months ended March 31, 2022 from its Chairperson, Chief Executive Officer and Interim Chief Financial Officer. Total amounts owed were $1,202,872 and $1,183,414 and are recorded as “Borrowings from related parties” on the accompanying condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively. On July 8, 2019 the Company entered into a loan agreement in exchange for cash of RMB 4,770,000 ($738,379) with its Chairperson, Chief Executive Officer and Interim Chief Financial Officer. The loan bears interest at a rate of 4.35% and is payable within one year of the loan agreement. The due date of the loan agreement was extended to July 10, 2021 and further extended to July 9, 2022 on identical terms. Total interest expense related to the loan for the three months ended March 31, 2022 and 2021 was $7,669 and $7,510, respectively. Compensation payable to the Chairperson, Chief Executive Officer and Interim Chief Financial Officer is included in “Other payables” in the accompanying condensed consolidated balance sheet totaling $719,506 and $715,506 as of March 31, 2022 and December 31, 2021, respectively.